Surge in Demand for Residential Spaces to Push Glass Fibers Market with 7.5% CAGR


The global glass fibers market is predicted to exhibit a healthy growth in the forthcoming years, as indicated by a Transparency Market Research (TMR) report. The global glass fibers market comprises of a number of international as well as regional vendors. The companies operating in the market are seen focusing on ensuring product differentiation, leading to heavy investments in research and development activities. Local vendors are increasingly adopting the latest technology in their product in order to lure consumer and thrive in the overall market. The market’s competitive landscape features consolidation currently. The vendors are seen focusing on improvement of product quality, and establishment of strong distribution and export channels, to gain an edge over their competitors.
Some of the prominent vendors operating in the global glass fibers market are Jushi Group, Jiangsu Jiuding New Material Co. Ltd, Owens Corning, Nippon Electric Glass Co., CHONGQING POLYCOMP INTERNATIONAL CORP, and AGY Holding Corp, among others.
According to our analysts at TMR, the value of the global glass fibers market was envisaged to be at US$8.50 bn in 2014. Over the duration of forecast, from 2016 to 2024, the market is anticipated to rise at a 7.5% CAGR. By 2024, the global market is expected to reach a valuation of US$17.44 bn.
The application segment of building and construction will largely contribute to the rise of the global glass fibers market over the forecast period. With a 7.6% CAGR, this application segment is expected to show unprecedented potential in the coming years. This could be attributed to the boom in population in emerging regions, especially Asia Pacific, leading to surge in demand for residential as well as commercial space.
Geographically, Asia Pacific was evaluated to account for roughly 48% of the overall market share in 2014. With its escalating population pool, Asia Pacific is expected to emerge as the swiftest regional market in the global glass fibers market, with its burgeoning construction industry.
Rising Application Scope of Glass Fiber to Provide Lucrative Opportunity
The potential for the global glass fibers market lies in the expanded application extent of fiber glass. They are broadly utilized as a part of the automotive industry in new parts as they prompt lower tooling cost when contrasted with customary materials, for example, metals. Also, the material is utilized as a part of an assortment of other application industry, for example, hardware, aviation, energy and purchaser industry. Different substantial organizations are reliably enhancing new products which would build the application extent of glass fibers.
Furthermore, the expanded spotlight on energy preservation in the construction industry, has prompted higher accentuation on usage of glass fibers as they give unrivaled protection properties at an ostensible cost. These are key factors which could prompt sellers profiting by the market opportunity, energizing market growth.
Dire Need for Alternate Energy Sources to Augment Product Demand
In the wind energy sector, glass fiber composites are utilized as a part of cutting edges and nacelles. Edges speak to the most essential composite based piece of a breeze turbine. Because of light weight, a large portion of the breeze turbines are built at any rate somewhat from glass fiber composites. As of late, wind turbines are equipped for changing over an awesome measure of energy in the breeze into power. Along these lines, the breeze industry has turned into an essential glass fiber composite material end-client market and is predicted to aid the market growth in the coming years.
This review is based    TMR’s report titled, “Glass Fiber Market (Product-E-Class Glass Fiber, and Performance Glass Fiber; Application-Building and Construction, Transportation, Industrial, Consumer Goods, Wind Turbine, and Oil and Gas, and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 - 2024.”
The market is segmented along the following lines:
Global Glass fiber market Segmentation
By Product Analysis:
  • E-Class Glass Fiber
  • Performance Glass Fiber
By Application Analysis
  • Building & Construction
  • Transportation
  • Industrial
  • Consumer Goods
  • Wind Turbine
  • Others (Including Oil & Gas, etc.)
By Geography
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of APAC
  • Middle East and Africa
    • Middle East
    • Africa
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to industry leaders, consultants, and strategy professionals.
Our reports are single-point solutions for industries to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These demands are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for client-specific problems with right methodology of research is the key to help enterprises reach right decision.
U.S. Office Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453


Comments

Post a Comment

Popular posts from this blog

Greenhouse Film Market to Grow at 8.1% CAGR Thanks to Rising Demand for Quality Food Crops

The  global greenhouse film market  depicts the existence of a fairly emerging market that is expected to become consolidated in the near future, says Transparency Market Research on the basis of a recently published report. Such consolidation is mainly expected to be the result of innumerable mergers and acquisitions between key players in this sector. Moreover, the competition is expected to get tougher with the entry of new players on a regular basis in the global greenhouse film market. Berry Global Group, Inc., RPC BPI Group, BASF SE, Barbier Group, Plastika Kritis S.A., and RKW Hyplast NV, are key players operating in the global greenhouse film market. Most players intend to improve the quality of their respective products as a chief strategy to outshine their rivals. Other schemes wherein an extensive focus has been imparted by most companies involve product differentiation, expansion of product portfolio, and increasing geographical reach. Regulating costs of green...
Read more

Nitro Compound Fertilizers Market Major Advancements & Global Industry Analysis

Nitro Compound Fertilizers  Market: Overview Compound fertilizers contain multiple nutrients in each individual granule. They differ from a blend of fertilizers mixed together to achieve a desired average nutrient composition. It helps farmers to spread compound fertilizers so that each granule delivers a mixture of nutrients as it dissolves in the soil and eliminates the potential for segregation of nutrient sources during transport or application. Multiple-nutrient granules of compound fertilizers also help achieve uniform distribution of micronutrients throughout the root zone. Nitro compound fertilizers are products that contain rich nitrite nitrogen and ammonium nitrogen, which are easily absorbed by plants at high rates. In nitro compound fertilizers, the ammonium nitrogen provides sustainable nutrition to plants to support their rapid growth and strengthen the roots through photosynthesis. Read More Overview @  https://www.transparencymarketresearch.com/nitro-co...
Read more

Global Thermocouple alloys Market | | Progressive Growth In Upcoming Year

Thermocouple consists of two dissimilar metals which are joined to form electrical junctions at differing temperatures and produce electric current. . When selecting thermocoupling alloys, it is important to keep in mind the application temperature range, environment, accuracy required and length of service. Thermocouples are a widely used type of temperature sensor. Commercial thermocouples are inexpensive, interchangeable, are supplied with standard connectors, and can measure a wide range of temperatures. In contrast to most other methods of temperature measurement, thermocouples are self-powered and require no external form of excitation. The main limitation with thermocouples is accuracy; system errors of less than one degree Celsius (°C) can be difficult to achieve. Thermocouples are widely used in science and industry. Applications include temperature measurement for kilns, gas turbine exhaust, diesel engines, and other industrial processes. Thermocouples are also use...
Read more