High-Performance Glass Fiber Market to reach US$ 390.6 Million in 2023
February 11, 2020
High-Performance Glass Fiber Market offers a healthy growth opportunity over the next five years and will reach an estimated value of US$ 390.6 million in 2023. High specific strength and modulus than E-glass fiber and lower cost than other advanced fibers, such as carbon fiber make it a preferred material for high-performance applications. Increasing automotive production and aircraft deliveries, and increasing high-performance fiber penetration in performance-driven applications, such as helicopter blade and ballistic armor, are the key growth drivers of the high-performance glass fiber market.
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High-Performance Glass Fiber Market Segment Insights:
By End-Use Industry Type:
The high-performance glass fiber market is segmented based on the end-use industry type as Aerospace & Defense, Sporting Goods, Automotive, Wind Energy, Electrical & Electronics, and Others. Aerospace & Defense is projected to remain the largest segment during the forecast period, propelled by increasing production rates of key composites rich aircraft, such as B787 and A350XWB; upcoming commercial and regional aircraft; and increasing production of military vehicles. The automotive segment is likely to exhibit the highest growth over the next five years. The prime growth driver of the market is the increasing penetration of advanced composites in the structural section of vehicles with the purpose to make the vehicle lightweight to achieve the stringent government regulations, such as CAFÉ standards.
By Regions:
Based on the regions, North America is projected to remain the largest market for high-performance glass fiber over the next five years. The region is the manufacturing hub of the aerospace & defense industry with the presence of several small- to large-sized OEMs, tier players, and high-performance glass fiber manufacturers. High-performance glass fiber market in Asia-Pacific is relatively smaller but is likely to witness the highest growth during the forecast period. Upcoming commercial & regional aircraft, increasing defense spending, the highest automotive production, the highest wind turbine installations, and the highest PCB production are the major growth drivers of the Asia-Pacific’s market.
Key Players:
The global high-performance glass fiber market is highly consolidated with the presence of less than a dozen players. The key high-performance glass fiber manufacturers are AGY Holdings, Owens Corning Corporation, CPIC Fiberglass, Nittobo, and 3B Fibreglass. New product development, collaboration with customers, and long-term contracts are the key strategies adopted by the major players to gain a competitive edge in the market.
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- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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