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Glass Fiber Reinforcement Materials Market Size, Share, Covid-19, Regional Analysis and Forecasts Report
Key players operating in the glass fiber market include Owens Corning, 3B-Fiberglass, Jushi Group, PPG Fiberglass, Taishan Fiberglass
tusharJuly 16, 2021 18
The driving factors for global glass fiber market include growth in demand from the construction & transportation industry, exceptional properties of glass fiber over other reinforcement materials, and low cost compared to carbon fiber. However, the recycling and disposal of glass-fiber related products are expected to impede the market growth during the forecast period.
Several glass fiber manufacturing companies are making efforts to overcome this restraint in the future by developing in-house facilities for recycling the waste into marketable products. Moreover, the introduction of carbon/glass hybrids for use in industries where carbon fiber use is expensive and developing glass fibers with desired properties of bot
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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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