The global Fiberglass Roving market is projected to reach USD 17.25 billion by 2030, growing at a CAGR of 8.6%
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"The GlobalFiberglass Roving Market 2020-2030 (USD Billion)")
The global fiberglass roving market is anticipated to reach a value of around USD 12.2 billion by 2028. Fiberglass roving is widely used in a wide range of end-use industries, including wind energy, transportation, and electrical and electronics. In the wind energy industry, fiberglass roving is used in wind turbine blades and nacelles. The increasing number of wind energy capacity installations is driving up demand for fiberglass roving, which is both cost effective and high performing. Various governments and energy planners are diversifying their energy mix in order to protect their economies from volatile fossil fuel costs while also reducing harmful greenhouse gas (GHG) emissions. Aside from that, one of the most promising prospects for fiberglass is the enormous demand from emerging markets.
The growth of the wind end-use sector can be attributed primarily to advancements in the integration of lightweight fiberglass roving materials, which have enabled ever longer blade lengths in the wind energy sector. Fiberglass roving is the ideal material for wind turbine blades in terms of structural efficiency since its high specific stiffness lowers tip deflections.
Fiberglass Roving Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | USD 17.25 billion |
| Growth Rate | CAGR of 8.6% during 2020-2030 |
| Segment Covered | Fiberglass Type, Product Type |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Owens Corning (US), Jushi Group (China), Chongqing Polycomp International Corp. (China), and Taishan Fiberglass (China) |
Key Segments of the Global Fiberglass Roving Market
Fiberglass Type Overview, (USD Billion)
- E-glass
- ECR-glass
- H-glass
- AR-glass
- S-glass
Product Type Overview, (USD Billion)
- Single-end
- Multi-end
- Chopped
Regional Overview, (USD Billion)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global fiberglass roving market.
- Fiberglass Roving is widely used for various end uses, owing to their excellent properties and the market is expected to gain traction over the coming years
- With the growing personal care uses, there is a rise in the demand for fiberglass roving which is further expected to have a positive impact on the overall market growth
What does the report include?
- The study on the global fiberglass roving market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the fiberglass roving industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on Fiberglass Type and End Use. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global fiberglass roving market. The report will benefit: Every stakeholder involved in the fiberglass roving market.
- Managers within the fiberglass roving industry looking to publish recent and forecasted statistics about the global fiberglass roving market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global fiberglass roving market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The application of the fiberglass roving market Transportation, Construction, Electrical & Electronics, Pipe & Tank, Wind, Aerospace, Marine.
The fiberglass roving market is growing at a CAGR of 8.6 % over the forecast period.
What segments are covered in the fiberglass roving market Report?
The major driver of the fiberglass roving business is the rising installation of wind generating units. The rising use of GFRP materials produced of fiberglass roving in the automotive industry is also driving the fiberglass roving market forward. In addition, the expanding usage of fiberglass roving in the automotive and construction industries due to its lightweight and amazing strength is driving up demand for fiberglass roving. Concerns about the recycling of fiberglass roving materials, on the other hand, are hindering the expansion of the fiberglass roving sector.
The sluggish development of low-cost technologies for manufacturing fiberglass roving is also harming the business. Nonetheless, the industry is expected to benefit from rising demand for fiberglass roving in GFRP pipe applications. As a consequence of rising demand from the wind energy, electrical and electronics, pipelines and tanks, construction and infrastructure, and transportation industries, the fiberglass roving market is rising. Fiberglass roving products are preferred because they may reduce product weight while still being stronger than metallic elements. The fiberglass roving market has grown rapidly in recent years, owing to increased demand in the United States, Germany, and China. Brazil, and Japan.
Fiberglass Type Segment
Based on glass fiber type, the fiberglass roving market is classified into E-glass fiber, ECR-glass fiber, H-glass fiber, AR-glass fiber, and S-glass fiber. The E-glass fiber sector leads the market due to its economic effectiveness, low weight, electrical insulation, corrosion resistance, and moderate strength. There are three varieties of fiberglass roving on the market: single-end roving, multi-end roving, and chopped roving. Single-end roving is the most profitable segment of the fiberglass roving business due to its growing use in pultrusion and filament winding applications.
Product Type Segment
To minimize the capital investment cost, leading manufacturers and research organizations are spending extensively in the development of low-cost fiberglass roving technology. Institutions of higher learning are also investing in increasing the recycling qualities of fiberglass roving.
Wind energy, electrical & electronics, transportation, pipes & tanks, building & infrastructure, marine, and aerospace & military are the application segments of the fiberglass roving market. During the projected period, transportation is expected to be the market's largest revenue sector.
APAC is the greatest user of fiberglass roving at the moment. China, Japan, and India are the biggest fiberglass roving markets in APAC, owing to the rising wind energy, building & infrastructure, pipes & tanks, and electrical & electronics sectors. During the forecast period, the APAC fiberglass roving market is also predicted to develop at the quickest rate. APAC has risen to the top of the fiberglass roving market due to rising demand for ecologically friendly products and strong emission control legislation.
During the projected period, the worldwide fiberglass roving market is predicted to develop considerably in terms of both value and volume. The high cost of technology and high investment expenses, on the other hand, are constraining the worldwide fiberglass roving market's growth. Owens Corning (US), Jushi Group (China), Chongqing Polycomp International Corp. (China), and Taishan Fiberglass (China) are some of the major competitors in the worldwide fiberglass roving industry. Owens Corning has kept its market leadership by expanding into new and profitable areas across the world. The company's growth tactics have mostly concentrated on investments and expansions, as well as new product releases.
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