Glass Fiber Yarn Market to be Dominated by Electronic & Electricals Segment Through 2028
Growing
demand for renewable energy and rising Infrastructural projects are expected to
drive the demand for the Glass Fiber Yarn market in the forecast period 2024-2028.
According to TechSci Research
report, “Global Glass Fiber Yarn Market-
By Region, Competition Forecast and Opportunities, 2018-2028”, global glass fiber yarn market
is projected to grow at an impressive rate in the forecast period, 2024-2028. Glass
fiber yarn product has numerous characteristics required for different application.
Government regulation and policies on sustainable energy, such as wind energy
among others is expected to increase the demand for glass fiber yarn over the
coming years. Glass fiber yarn forms an integral part of wind turbines.
Moreover, the growing demand for glass fiber yarn across various end user
industries such as construction, automobile, sports, fishers, aerospace, and
manufacturing are further expected to drive the growth for global glass fiber
yarn market in the coming years.
Glass fiber yarns
provide high dimensional stability, and resistance to water, heat, and
electricity and hence are finding applications across various end user
industries. Additionally, the overall maintenance cost associated with glass
fiber yarn is lesser than the available counterparts, further increasing their
demand.
Glass fiber yarn can be hazardous
to the environment if not handled safely and appropriately, same as plastic. It
is challenging to recycle glass fiber yarn and needs a proper treatment process
for disposal. It also shows adverse effect on worker in manufacturing unit;
hence its proper safety gears need to be provided while production. Besides the
overall process of production and manufacturing of glass fiber yarn is quite
complex and capital intensive. Also, glass fiber yarn manufacturing requires
large machinery and heavy investments for manufacturing. All these factors are
further expected to slow down the market growth during the forecast period.
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Global glass
fiber yarn market is segmented based on application type, and end user industry:
Based on type,
the market is divided into E-glass, S-glass, and others. E-glass is expected to
hold the largest market share in the forecast period, 2024-2028.. E-glass fiber
are widely used in textile industry and in composite materials. Additionally,
properties associated with E-glass fibers such as high temperature resistance,
electrical insulating properties, among others have significantly increased
their use across various types of large scale industrial applications.
Based on
application type, the market is divided into PCB, structural parts, façade,
marble & mosaic tiles, and others. PCB monomer is expected to hold the
largest market share in the forecast period, 2024-2028. In the current
scenario, electronic goods are widely used for the functioning of the product. Every
electronic device has a PCB installed, thereby driving the growth of PCB
segment.
Major
companies operating in global glass fiber yarn market are:
- Saint-Gobain S.A
- Owens Corning Composite Materials, LLC
- China Jushi Group Ltd
- Nippon Electric Glass Co. Ltd
- Chongqing Polycomp International
Corporation
- AGY Holdings Corp. (Kohlberg & Co.)
- China Beihai Fiberglass Co. Ltd.
- Taiwan Glass Industry Corp.
- Fulltech Industries Corp.
- F.I.T Industrial Co., Ltd.
In September 2022,
Saint-Gobain has acquired majority of outstanding shares of GCP Applied
Technologies. After acquisition, Saint-Gobain owns right of GCP construction
products that include high-performance specialty construction chemicals and
building materials.
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“Demand for glass fiber yarn
is anticipated to grow worldwide in the upcoming year due to its diverse usage,
different characteristics, and cost-effectiveness. Technological improvement,
collaboration, and acquisition of dependent industries are the various
activities impacting the market's growth. Government initiatives and
regulations such as the lesser dependency on non-renewable fuels, FTA between
different countries, and others are market propelling factors. All the factors
mentioned above are expected to influence market growth and create favorable
conditions to boost the Glass Fiber Yarn market growth till 2028.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Glass Fiber Yarn Market-
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Type (E-Glass,
S-Glass, and Others), By Yarn Type (Single Yarn, Piled Yarn, and Others), By
Application (PCB, Structural Parts, Façade, Marble & Mosaic Tiles, Others),
By End User Industry (Wind Energy, Automotive & Transportation, electronic
& electricals, Building & Construction, Marine, Others), By Region and Competition,
has
evaluated the future growth potential of global glass fiber yarn market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global glass fiber yarn market.”
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