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The glass fiber market was valued at US$ 14,193.55 Mn in 2019 and is projected to be worth US$ 19,837.62 Mn by 2027, growing at a CAGR of 4.27% from 2019 to 2027.
Glass fibers possess excellent corrosion resistance, higher stiffness and strength, and high tensile strength along with high-temperature tolerance and durability. These fibers find their application in broad end-use industries such as automotive, construction, marine, wind energy, aerospace & defense, and others. However, competition from carbon fiber and mineral wool is the major restraint for the glass fiber market growth.
Based on fiber type, global glass fiber market is segmented into E/ECR-Glass Fiber, S-Glass Fiber, C-Glass Fiber, and Others. The E/ECR-glass fiber segment accounted for a larger share of the global glass fiber market in 2019. E-glass is among the leading types of glass fibers with properties such as high-strength, good insu
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