Press release
Three major trends that are shaping the e-glass fiber yarn & roving market outlook through 2025
E-Glass Fiber Yarn & Roving Market
E-glass fiber yarn & roving market is expected to record noteworthy gains over the forthcoming timeframe due to the expanding electrical & electronics industry, which is mainly being driven by new innovations in the process of electronic component production. E-glass fiber roving also find extensive use in the building & construction sector since they deliver high performance characteristics such as low flammability, high durability, strength, lightweight as well as good thermal and acoustic insulation.
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The COVID-19 pandemic is projected to have a major impact on the end-use industries of fiberglass, which is likely to reflect over the forecast period. However, with vaccine rollouts and various initiative being taken to control the spread of coronavirus, the situation is likely to improve in the post pandemic era, thus shaping the overall e-glass fiber yarn & roving industry.
Below are three key trends that are expected to shape the e-glass fiber yarn & roving market growth in coming years:
Increasing aerospace activities worldwide
In terms of application, the market for e-glass fibers from aerospace sector will witness growth of more than 7% over the coming time period. This growth is attributed to the growing demand for high strength, electric resistant, and light weight composite materials for the manufacturing of aerospace body parts.
The growing demand for LAV’s, fighter aircrafts, and commercial airplanes that can offer a significantly higher level of fuel efficiency is likely to stimulate the demand for fiber-based e-glass composite materials from the global aerospace sector.
Strong demand from North America automotive industry
On the regional front, the market is slated to see distinguished growth from the North America region over the projected timeframe. E-glass fiber roving is one of the most popular fiberglass products across North America, which allowed the region to account for 75% of the revenue share in 2018. The regional automotive industry is greatly responsible for enabling the industry to hold such a dominant revenue share.
Roving have progressively become one of the most popular materials in automotive industry due to its light weight as well as high-performance features. Strong presence of key automotive manufacturers, who boast of having extensive production capacities in the region, will aid towards regional market flourishment.
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New product launches
Today, prominent market participants are developing novel and innovative products in order to enhance their market stance. Citing an instance, in March 2021, Bedford Reinforced Plastics, a leading a supplier offering a wide range of fiberglass-reinforced plastic products and services, reportedly announced the launch of the new ReadySpan, the company’s pre-engineered, quick-ship, and easy to install, flexible pedestrian bridge system. The novel product is one of five offerings under the firm’s ReadySeries solutions.
Overall, attributing to a growing demand from various lucrative application avenues, and the product’s numerous essential properties, the market for e-glass fiber yarn and roving is expected to accumulate respectable growth in coming years.
Jushi Group, CIPC, PPG Industries, Taishan Fiberglass, and Owens Corning are some of the key market players operating in the e-glass fiber yarn & roving market.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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