E-glass fiber yarn & roving market is expected to record noteworthy gains over the forthcoming timeframe due to the expanding electrical & electronics industry, which is mainly being driven by new innovations in the process of electronic component production. E-glass fiber roving also find extensive use in the building & construction sector since they deliver high performance characteristics such as low flammability, high durability, strength, lightweight as well as good thermal and acoustic insulation.
Recent product developments and technological advancements have helped market players consolidate the industry’s potential to bring greater revenues. This potential was on display in the architectural world when, in April 2021, Vitro Architectural Glass, the largest glass producer in North America, launched the Solarban® R77 glass, a low-e neutral-reflective glass with a silver-blue, soft look.
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The new glass uses MSVD (magnetron sputtered vacuum deposition) solar control and low-e coating, and joins the company’s low-e neutral-reflective glass family. The product’s unique formulation allows it to exhibit reflectivity that is much greater than that of Solarban® 67 but below Solarban® R100 glass. On the interior of the building, the product gives a very clear exterior view and creates a natural, soft and neutral daylighting environment indoors.
As per a new Global Market Insights Inc., report, e-glass fiber yarn & roving market is forecast to surpass a $12 billion valuation by 2025.
The COVID-19 pandemic is projected to have a major impact on the end-use industries of fiberglass, which is likely to reflect over the forecast period. However, with vaccine rollouts and various initiative being taken to control the spread of coronavirus, the situation is likely to improve in the post pandemic era, thus shaping the overall e-glass fiber yarn & roving industry.
Below are three key trends that are expected to shape the e-glass fiber yarn & roving market growth in coming years:
Increasing aerospace activities worldwide
In terms of application, the market for e-glass fibers from aerospace sector will witness growth of more than 7% over the coming time period. This growth is attributed to the growing demand for high strength, electric resistant, and light weight composite materials for the manufacturing of aerospace body parts.
The growing demand for LAV’s, fighter aircrafts, and commercial airplanes that can offer a significantly higher level of fuel efficiency is likely to stimulate the demand for fiber-based e-glass composite materials from the global aerospace sector.
Strong demand from North America automotive industry
On the regional front, the e-glass fiber yarn & roving market is slated to see distinguished growth from the North America region over the projected timeframe. E-glass fiber roving is one of the most popular fiberglass products across North America, which allowed the region to account for 75% of the revenue share in 2018. The regional automotive industry is greatly responsible for enabling the industry to hold such a dominant revenue share.
Roving have progressively become one of the most popular materials in automotive industry due to its light weight as well as high-performance features. Strong presence of key automotive manufacturers, who boast of having extensive production capacities in the region, will aid towards regional market flourishment.
Meanwhile, growing automotive industry focus towards enhancing fuel efficiency through weight reduction is also likely to accelerate the market share. Additionally, increasing adoption of electric vehicles across the U.S., given the presence of key manufacturers like Tesla and Ford, will further strengthen the business scenario.
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New product launches
Today, prominent market participants are developing novel and innovative products in order to enhance their market stance. Citing an instance, in March 2021, Bedford Reinforced Plastics, a leading a supplier offering a wide range of fiberglass-reinforced plastic products and services, reportedly announced the launch of the new ReadySpan, the company’s pre-engineered, quick-ship, and easy to install, flexible pedestrian bridge system. The novel product is one of five offerings under the firm’s ReadySeries solutions.
The bridge systems are made-up from high-strength E-glass as well as isophthalic polyester resin for durability and strength. They are specifically designed to be used in remote areas and national parks to set up easy crossings, having the ability to span approximately up to 100 linear ft. without needing intermediary supports.
However, there are a number of strict government regulations that govern the use of these materials, which might dampen their penetration power. Exposure to fiberglass or breathing airborne dust comprising fiberglass might irritate the skin, throat, nose, and eyes, and might possibly leading to worsening of existing bronchitis or asthma-like conditions. As such, the product’s application scope is expected to have a difficult time growing.
Overall, attributing to a growing demand from various lucrative application avenues, and the product’s numerous essential properties, the market for e-glass fiber yarn and roving is expected to accumulate respectable growth in coming years. Jushi Group, CIPC, PPG Industries, Taishan Fiberglass, and Owens Corning are some of the key market players operating in the e-glass fiber yarn & roving market.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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