Glass & Specialty Synthetic Fiber Market Worth $91.4 Billion by 2024 - Exclusive Report by MarketsandMarkets™
CHICAGO, Feb. 4, 2020 /PRNewswire/ -- According to the new market research report "Glass & Specialty Synthetic Fiber Market by Fiber Type (Glass, Carbon, Aramid, UHMWPE, PPS), Application (Composite, Non-Composite), End-Use Industry, and Region (North America, Europe, APAC,MEA, Latin America) - Global Forecast to 2024", published by MarketsandMarkets™, the global Glass & Specialty Synthetic Fiber Market size is expected to grow from USD 65.9 billion in 2019 to USD 91.4 billion by 2024, at a CAGR of 6.8% during the forecast period.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=39906130
Browse in-depth TOC on "Glass & Specialty Synthetic Fiber Market"
134 – Tables
43 – Figures
198 – Pages
View Detailed Table of Content Here:
The glass & specialty synthetic fiber market is growing due to the increase in the demand for high-performance materials with properties such as high operating temperature, high strength to weight ratio, good tensile strength, electrical conductivity among others.
Glass fiber composites comprise a major share of the glass & specialty synthetic fiber market in terms of value and volume.
The glass fiber composites have superior attributes, such as strength, flexibility, durability, stability, lightweight, and resistance to heat, temperature, and moisture. Owing to its properties, glass fiber is used in different end-use industry segments, such as construction, wind, pipe & tanks, marine, and transportation. Also, owing to its low cost and easy manufacturing process, glass fiber composites are produced in bulk, and they accounted for the largest share in the global glass & specialty synthetic fiber market.
The composite application accounted for the largest market share in the global glass & specialty synthetic fiber market during the forecast period in terms of value and volume.
The large market for composites application is supported by the advancement of composite technology solutions and high performance when combined with various resins. Glass & specialty synthetic fibers in the form of composites have high demand from various end-use industries such as aerospace & defense, pipe & tank, construction & infrastructure, transportation, and wind energy.
Request Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=39906130
The aerospace & defense end-use industry accounted for the largest market share in the global glass & specialty synthetic fiber market during the forecast period in terms of value.
In terms of value, the aerospace & defense industry led the global market. Growing environmental concerns and search for high strength light-weighting material to increase fuel efficiency have put glass & specialty synthetic fibers in the limelight in the aerospace & defense industry. Leading aircraft manufacturers such as Boeing and Airbus are increasing the use of carbon composites in their commercial aircraft. The glass & specialty synthetic fibers are used in fuselage, wings, tail, tail fin, wing box, trailing edge, engine nacelles, engine, and other structural parts.
APAC is expected to account for the largest market share in the glass & specialty synthetic fiber market during the forecast period.
APAC is the largest market for glass & specialty synthetic fiber. Major glass, carbon, and aramid fiber manufacturers are present in the region. These players along with major international players, are exploring opportunities in the region owing to cheap labor, raw materials, and high demand from various end-use industries, such as pipes & tanks, wind energy, and construction & infrastructure.
The key players in the market include Owens Corning (US), Toray Industries, Inc. (Japan), Teijin Limited (Japan), Mitsubishi Chemical Holdings Corporation (Japan), Hexcel Corporation (US), SGL Group (Germany), Nippon Electrical Glass Co. Ltd. (Japan), DSM (Netherland), Honeywell International, Inc. (US), Jushi Group Co., Ltd. (China), among others. These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the Glass & Specialty Synthetic Fiber Market. These players have taken different organic and inorganic developmental strategies over the past five years.
Get 10% Free Customization on this Report:
https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=39906130
Browse Adjacent Markets: Fibers and Composites Market Research Reports & Consulting
Related Reports :
FRP Grating Market by Resin Type (Polyester, Vinyl Ester, Phenolic), Process (Molded, Pultruded), Application (Stair Treads, Walkways, Platforms), End-use Industry (Industrial, Water Management, Cooling Towers, Marine), and Region - Global Forecast to 2021
FRP Bridge Market by Fiber Type (Glass Fiber, Carbon Fiber), Resin (Vinylester, Polyester), Manufacturing Process (Pultrusion, Hand Lay-Up), Application (Deck, Girders, Rebars), Bridge Type (Vehicular, Pedestrian), Region - Global Forecast to 2021
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/specialty-synthetic-glass-fiber-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/specialty-synthetic-glass-fiber.asp
SOURCE MarketsandMarkets
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article