Fiberglass Roving Market

Fiberglass Roving Market Insights

The fiberglass roving market is expected to grow at a significant CAGR during the forecast period. The increased use of fiberglass for the manufacturing of aircraft body parts and automobiles due to its lightweight properties and its high strength is anticipated to boost the market growth. In addition to that, the extensive use of fiberglass in construction and building industry for composite and insulation applications is most likely to drive the market further over the forecast period.

It is anticipated that the growth of the market is due to the strict emission regulations set by the government. This factor has compelled the automobile and aircraft body manufacturer to use fiberglass roving material in the manufacturing and production of the vehicle. Growing awareness about the benefits of renewable energy sources amongst the people has pushed demand for wind turbines. Fiberglass is extensively used in the manufacturing of various structural components of wind turbines including wind turbine blades.

Fiberglass rover is used in the construction sector for insulation purpose. It is generally used in electrical and thermal insulation application in the construction sector. The growing demand for the fiberglass market can be attributed to increased spending in the construction sector in both developed and developing countries.

Fiberglass Roving Market: By Type

Based on the fiberglass type, fiberglass roving market can be segmented into ECR-glass, E-glass, H-glass, S –glass, AR- glass and others. The E-glass fiber segment is anticipated to account for the major share in global fiberglass roving market. The factors behind this dominance of E glass fiber type are its properties such as light weightiness, corrosion resistive, cost-efficient, moderate strength and high electrical insulation. S-glass fiber segment can be accounted as the fastest growing glass fiber type. Growing demand for the use of fiberglass rover in the electrical & electronics, construction, and transportation industries is expected to fuel the market growth over the forecast period.

Fiberglass Rover Market: By Product

The fiberglass roving market can be segmented based on the product into single end roving, multi-end roving, and chopped roving. It is expected that the single end roving segment. Increased demand for single end fiberglass for pultrusion and filament winding application is expected to boost the single end fiberglass roving market during the forecast period. Rising awareness amongst the general people about the benefits of renewable energy sources and strict emission regulations set by the authorities is pushing the demand for the single end fiberglass market.

Fiberglass Roving Markets: By End Users

Based on the end users fiberglass roving market can be segmented into wind energy, pipes & tanks, marine, transportation, aerospace & defense, electrical & electronics, building &construction, and others. Transportation industry segment is contributing significantly to the revenue share of the fiberglass rover market and is expected to hold its dominance over the forecast period.  The increasing demand for fiberglass roving in the transportation sector is attributed to its properties such as fuel efficient, corrosion resistive, light weightiness and moderate impact strength. Various government initiatives and regulations have encouraged the big industries to invest in the research and development wing in order to increase the use of fiberglass rover in various other end-user applications.

Fiberglass Roving Market: Regional Insights

Asia Pacific is expected to dominate the fiberglass rover market, with India, Japan and China contributing the majority share. The region’s dominance can be attributed to the various factors one of them being increased awareness on the benefits of using renewable energy sources have boosted the demand for wind turbines thereby growing use wind energy in the region. Others factors such as growing electrical & electronics, construction & building, pipes & tanks and aerospace & defense industries have boosted the market growth across the region. It is expected that fiberglass rover market will display highest CAGR during the forecast period. Strict government regulations and increased demand for the use of environmental friendly product has made Asia Pacific the largest fiberglass roving market.

Fiberglass Roving Market: End-Use Landscape

The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase smart materials over the coming years. Some companies which are currently using fiberglass rover or are likely to use are Suzlon, Enercon, Goldwind, Range Rover, Land Rover, Ford Inc., The Boeing Company, Larsen & Toubro and others

Fiberglass Roving Market: Vendor Landscape

The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.

Fiberglass Roving Market: Share & Competitor Analysis

Some of the key players operating in the fiberglass rover markets are Jushi Group, Owens Corning, Taishan Fiberglass, Chongqing Polycomp International Corp, Nippon Electric Glass Co. Ltd., Saint Goblin and others.

Please note: This is not an exhaustive list of companies profiled in the report.

In August 2018, Jushi Group completed its largest production base of 200000 tons of fiberglass in Egypt’s Ain Sokhna district. It is currently the largest manufacturing project invested by China in Egypt with an investment of USD 600 million. The base is equipped with most advanced technology and equipment.

In September 2018, Owens Corning a leading manufacturer of roofing, insulation and fiberglass composites was named as the industry leader for the Dow Jones Sustainability Performance Index (DJSI).