The report "Fiberglass Fabric Market by Fiber Type (E-glass), Fabric Type (Woven, and Non-Woven), Application (Wind Energy, Transportation, Electrical & Electronics, Construction, Marine, Aerospace & Defense), and Region - Global Forecast to 2022", The global fiberglass fabric market was USD 8.74 Billion in 2016 and is projected to reach USD 13.48 Billion by 2022, at a CAGR of 7.62% between 2017 and 2022.
The fiberglass fabric market is driven by the increasing use of fabrics used in various applications to form complex structural components. In applications such as wind energy, these are used for the production of longer and lighter wind turbine blades, while in the electrical & electronics application, these are used for their high dielectric strength and relatively low dielectric constants that make fiberglass fabrics exceptional for electrical insulation purposes.
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Based on fiber type, the E-glass segment in the fiberglass fabric market is expected to grow at the highest CAGR during the forecast period
Based on fiber type, the E-glass fabric market is expected to grow at the highest CAGR during the forecast period. E-glass fabrics were initially developed for electrical wiring applications and gradually gained acceptance in various other major applications such as wind energy, marine, and electrical & electronics, among others. E-glass fibers are cost efficient and offer a wide range of beneficial properties such as corrosion resistance, lightweight, high electrical insulation, and are the majorly used fiber type in the manufacture of fiberglass fabrics.
Wind energy segment to lead the fiberglass fabric market, in terms of value and volume
Fiberglass fabrics are used to reinforce spar caps, webs, and shells of wind turbine rotor blades. From a power generation standpoint, fiberglass fabrics are lightweight and thus enable the production of longer blades for wind turbines. This helps in capturing more wind energy, leading to an increase in power output and provides economy due to the higher wind energy gained.
Asia Pacific is projected to be the largest market for fiberglass fabric
The Asia Pacific is the largest market for the fiberglass fabric due to the growing population and increasing industrialization in the region. Along with China, India and Japan are the major consumers of fiberglass fabric in the region for various applications. The region accounted for the largest wind power capacity of 203,643 MW in 2016. This is expected to drive the fiberglass fabrics market in the region, as leading wind blade manufacturers are increasingly using these fabrics as the major material for the manufacture of composites for wind turbines.
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Fiberglass Fabric Market Key Players
Key players operational in the fiberglass fabric market are Owens Corning (US), Saertex Gmbh & Co. KG. (Germany), Porcher Industries (France), Chomarat Textile Industries (France), and Jushi Group Co., Ltd. (China), among others.
Saertex GmbH & Co.KG (Germany) is a multiaxial fabric provider for the fiberglass fabric market. The company has moderate industry coverage and caters to applications such as wind energy, sports, automotive, construction, and others. It has also undertaken inorganic and organic growth strategies such as acquisitions and new product developments to enhance its position in the global fiberglass fabric market. For instance, in August 2015, the company developed a new thermoplastic non-crimp fabric which has further enhanced its product portfolio.