San Jose, California (PRWEB) February 05, 2013
Follow us on LinkedIn – Global market for textile glass fibers, which primarily finds use in reinforcement of plastics and composites as well as in non-reinforced applications, is significantly influenced by the demand trends in major end-use markets of construction, automotive, industrial/commercial equipment, marine, consumer goods, and paper & fabrics, among others. Over the years, the use of textile grade glass fibers has gained momentum driven by the rapid strides made by glass fiber reinforced plastics. Though market growth fell drastically during 2008 and 2009 due to the economic downturn, the year 2010 was witness to a marginal recovery led by improving macroeconomic indicators, and subsequent improvement in spending power of end-users. However, the market slowed down in 2012 as the global economic activity remained flat in view of the sluggish pace of recovery, uncertainty created by the Eurozone crisis, and the below par demand from emerging economies, the impact of which was felt on key end-use markets including construction.
Growth in the coming years would be attributed to the increased demand for non-corrosive, durable and lightweight components and the relatively lower cost of textile glass fibers in comparison to substitutes. Rapid population growth, robust urbanization trend, implementation of new infrastructure projects, and focus on sustainability are expected to bolster demand for glass fiber reinforcement composites, particularly in emerging markets. Another factor facilitating this growth is the rising popularity of textile glass fibers amongst equipment manufacturers, due to the superior performance offered by textile glass fibers when compared to conventional materials such as steel, aluminum and iron. However, the growth rate is expected to vary in different market segments, given its penetration level as well as performance versus price criteria in that specific application. Especially, wind energy, marine and aerospace industries are expected to witness strong growth in the upcoming years.
As stated by the new market research report on Textile Glass Fibers, the United States represents the largest market for textile glass fibers, with growth largely driven by the increasing use of textile glass fibers in reinforced plastics. In the coming years, demand is expected to emerge from the rapid strides being made in the region’s marine industry, and through its increased use asphalt construction products such as shingles. The market, however, is likely to be affected by the increasingly mature conditions in few end-use markets, such as paper products and mechanical rubber applications, and the rising low cost imports from Asia-Pacific countries.
Going ahead, global market for textile glass fibers will be especially driven by countries from Asia-Pacific and Eastern Europe. Asia-Pacific is expected to post the fastest growth led by the rapidly increasing demand for textile glass fiber in developing countries such as India and China. These countries have been witnessing a significant uptick in demand for reinforced material from industries such as automobile, construction, chemical, printed circuit board and shipbuilding. China, in particular, is amongst the leading consumers and producers of glass fibers, globally. The country’s robust industrial production is likely to remain one of the key driving forces for the growth in textile glass fibers market. Further, growing demand from the domestic market, primarily from sectors such as power, energy, and infrastructure development projects, is expected to shape dynamics in the years to come.
Construction represents the largest end-use segment for textile glass fibers, globally, while industrial/commercial equipment constitutes the fastest growing end-use market. Reinforced composites, the major application of textile glass fibers, are used in several sectors including construction, industrial and transportation. Population growth, urbanization trend, and focus on sustainability are emerging as key determinants of growth across various industries. Infrastructure needs of burgeoning population, particularly in emerging markets, is expected to affect trends in the construction sector, while the automotive industry, specifically in developed regions, would be influenced by the need to reduce vehicle weight, minimize fuel consumption, and cut down on carbon dioxide emissions.
Textile glass fibers market is becoming highly competitive, as a result of which innovation is emerging as the principal tool of competition among companies. Major players profiled in the report include 3B-the fiberglass company, AGY Holding Corp., China Fiberglass Co., Ltd., Chongqing Polycom International Corporation Ltd., Johns Manville Corporation, Nippon Electric Glass Co. Ltd., Owens Corning Inc., PPG Industries Inc., and Taishan Glass Fiber Co., Ltd.
The research report titled “Textile Glass Fibers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Middle East, and Latin America. Key end-use markets analyzed include Construction, Automotive, Industrial/Commercial Equipment, Marine, Consumer Goods, Paper & Fabrics, and Others.
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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