Glass Fibers And Specialty Synthetic Fibers Market Report

Glass Fibers And Specialty Synthetic Fibers Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Format: PDF  |  Report ID: GVR1849

The global glass fibers and specialty synthetic fibers market is anticipated to witness significant growth on account of increasing demand of light weight and high strength composite materials. High strength to weight ratio of glass and specialty synthetic fibers is expected to fuel the market demand over the forecast period. Consumer friendly qualities of the material such as stain resistance, water proofing and stretching are also expected to drive the glass fibers and specialty fibers market over the forecast period. Excellent mechanical properties, durability and thermal stability than the conventional materials are expected to augment glass fibers and specialty synthetic fibres demand over the forecast period. Various industries such as transportation, marine, aerospace and automotive are also expected drive glass fibers and specialty synthetic fibers demand over the forecast period. Growing need of optical fiber cables and expansion of electronic industry is anticipated to shoot up demand of glass and specialty synthetic fibers. Numerous innovative applications of glass fibers and synthetic fibers such as adding metallic properties in cloth, usage in battery separators and in the process of filtration are also expected to augment the glass fibers and specialty fibers demand over next seven years. Increasing usage of these materials for ballistic equipments manufacturing is expected to augment the market demand as well.

High production cost on account of high raw material expenditures is expected to hinder the market growth over the forecast period. Highly energy intensive production processes are also expected to restrain the market growth over the forecast period. Low market penetration is also anticipated to hamper the glass fibers and specialty synthetic fibers market growth. Properties such as less resistance to heat, not skin friendly, highly combustible can expected to hinder the market growth. Non-biodegradable nature of these fibers is also expected to pose a challenge in front of market. Requirement of huge investment in R&D, raw material and production units is also expected to restrain the market growth over the forecast period.

Specialty fibers are segmented into meta aramids, para aramids and carbon fiber. Glass fiber accounts for maximum share in the global glass fiber and specialty fibers market. Carbon Fiber is expected to witness highest growth rate over the forecast period on account of its high strength to weight ratio. Significant carbon fiber demand from automotive and aerospace industries is expected to drive the global glass fibers and specialty synthetic fibers market over the forecast period.

Europe accounts for maximum share in the global glass fibers and specialty fibers market on account of presence of large end-use industries in the region. Growing automotive and aviation & defense industries in the region are expected to fuel the glass fibers and specialty fibers market growth over the forecast period. Stringent governmental regulations regarding automotive pollution control is expected to augment glass fibers and specialty fibers demand from automotive industry in the region. North America market is anticipated to witness significant growth over the forecast period on account of growing automotive, defense and aviation markets. Growing wind energy and automotive markets in Asia Pacific region are expected to drive glass fibers and specialty fibers market in the region. Middle East & Africa and Central and South America hold very low market share and are also expected to witness lower market growth over the forecast period.

Key trend observed with the manufacturers include increased focus on R&D activities to develop new grade of glass and specialty fibers along with development of low cost precursors. Technological innovations are expected to develop cost effective manufacturing technologies. These trends are expected to create new opportunities for market participants in existing as well as new applications over the forecast period.

Key market players operating in the global glass fiber and specialty synthetic fibers include  DuPont, Teijin Limited, Jushi Group, Honeywell International Inc, Royal DSM, Toray Industries Inc. Toho Tenax and Owens Corning.

 

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