[221 Pages Report] The glass fiber yarn market is estimated to be USD 2.5 billion in and is projected to reach USD 3.5 billion by , at a CAGR of 6.5% between and .The glass fiber yarn market is growing because of the rise in the demand from wind energy, electrical & electronics, and automotive & transportation industries.
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COVID-19 has negatively affected the demand for glass fiber yarn across the globe due to decrease in demand from various end-use industries. Automotive industry being one of the major consumer of glass fiber yarn has witnessed the most adverse and immediate consequences of the pandemic. The automobile sector has faced the worst consequences due to the lockdown across international and domestic borders. This has impacted badly on the demand of glass fiber yarn.
The construction industry had started to grow since the pandemic as governments across the globe started focusing on infrastructure development. The need to improve the integrity of structural parts and increase the life span have led to the increased demand for glass fiber yarn products. These glass fiber yarn products provide great dimensional stability, heat and water resistance, and thermal and electrical insulation. Glass fiber yarn products offer lower maintenance cost than conventional timber decking and railing products. They are also used in producing architectural facades, insulated wall panels, bridge decks, bridge railings, sanitary fixtures, doors, and windows.
Asia Pacific is witnessing significant infrastructural developments. Hence, the demand for glass fiber yarn in structural applications in the building & construction industry is high.
Glass fiber yarn is an efficient insulation material. However, it is difficult to recycle, thus posing a major challenge for the glass fiber yarn industry. Proper disposable techniques are required to dispose of glass fiber yarn material, along with the use of personnel protective equipment (PPE) clothing for the physical safety of the personnel involved in the disposal process.
Emerging countries lack recycling techniques and the infrastructure needed for safe disposal, which leads to a high amount of glass fiber yarn waste. Considering that Asia Pacific is the largest market for glass fiber yarn and most countries in the region are still developing, efforts are required to improve the recycling techniques for the material.
Waste management policies and environmental legislation are now mandating engineered materials to be properly recovered and recycled from products, such as automobiles, wind turbines, and aircraft that have lived their useful life. Thus, the development of proper recycling technologies for glass fiber yarn products and other composite materials is becoming important for the sustainable development of the glass fiber industry.
With the decrease in global fossil fuel capacity, the demand for alternative sources is increasing. Wind energy is one of the major renewable energy sources. The increasing demand for wind energy is driving the glass fiber yarn market. Glass fiber yarn products are used in wind turbines. Glass fiber makes the blades of wind turbines stronger and provides better resistance to corrosion and fatigue failure.
Many countries such as China, Germany, and Spain are making efforts to restructure their energy systems in favor of renewable sources. According to the Global Wind Energy Council (GWEC), by , the renewable energy industry is expected to generate more than 25% of the world&#;s electricity, out of which a quarter is expected to be derived from wind. Wind energy is a viable option for electricity generation as it is cost-effective. The rising demand for wind turbine installations across the globe due to carbon neutrality activities is propelling the demand for glass fiber yarn and will create new opportunities during the forecast period.
Glass fiber yarn is highly capital intensive and requires heavy investments for its manufacturing. New technologies need to be developed to produce low-cost glass fiber yarns to commercialize the end products. Production and development projects are undertaken to reduce the manufacturing costs of glass fiber yarns through advanced technologies and process solutions. According to some industry experts, the production process of glass fiber yarn is complex and is very lengthy compared to other alternative products. Thus, the development of low-cost and simpler technologies for the commercial production of low-cost fiber glass fiber yarn is considered a major challenge for governments, research laboratories, and glass fiber producers globally.
Glass fiber yarn comes in various forms for different applications. For example, glass fiber tapes are used for wrapping vessels and hot pipelines due to their thermal insulation properties. Similarly, glass fiber cloth is used as heat shields in fire curtains and others. Glass fiber ropes are braided from glass fiber yarns and used for packing purposes.
In terms of value, the electrical & electronics segment is the dominant end user of glass fiber yarn with a market size of USD 645.46 million in . The rising demand for insulation products in countries such as China, India, and Brazil is driving the market.
E-glass fiber has been used as a high-temperature insulator for electrical conductors in large-scale industrial applications since . E-glass fibers are the most widely used in the textile industry and in composite materials, accounting for 90% of reinforcements. This high-quality fiber is distinguished by its high-temperature resistance and excellent electrical insulating properties. This fiber is rot-proof, resistant to the most common chemical agents, and dimensionally stable, even when subjected to significant humidity and temperature variations. E-glass fiber products are extremely abrasion and vibration resistant, as well as extremely flexible. The specific resistance of glass thread is higher than that of steel thread (tensile strength/volumetric mass). This feature enables the creation of glass threads that reinforce high-performance glass fiber yarn. Due to the sheer flexibility of E-glass fiber, high-strength sewing yarns can be designed for the production of thermal protection systems or thermal, dielectric, or chemical insulation solutions.
Plied yarns are used for a wide variety of applications in many different formats. Their benefits over single yarns include improvement in tensile strength by virtue of the twist applied to the fiber &#; the more twist, the higher the strength. Piled yarns also allow a greater range of product applications compared to single yarn glass fiber. The plying process also encapsulates the individual fiber filaments inside the plied bundle, thereby reducing the impact of any filament faults.
North America and Asia Pacific are the major markets for plied glass fiber yarn. These yarns are used in many industries such as automotive, aerospace, electrical sleeve braiding, architectural and construction materials, and thermal insulation
Glass fiber yarn is used for the production of various structural parts in the construction industry, such as infrastructure foundations, columns, girders, beams, and supports, as they add strength, are naturally fire resistant, do not elongate or shrink, and do not decay. Glass fiber yarns are used in the manufacturing of automotive structural parts for their tensile strength, temperature resistance, and dimensional stability. Glass fiber yarns have long been used in lightweight constructions for the rapidly growing wind energy industry, where they have been integrated into a variety of wind energy applications. Wind turbine rotor blades and nacelles are made of glass fiber yarn made from resin-compatible E-Glass yarns. Glass fiber composite components provide high strength at a low weight, allowing for the production of longer and more efficient rotor blades for larger wind turbines at a lower cost. Fiberglass reinforced rotor blades can have lengths of up to 80 meters / 262 feet and are used in a variety of environments on land and offshore wind turbine installations.
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Asia Pacific is the largest market for glass fiber yarn. In this report, the Asia Pacific region is segmented into China, Japan, India, South Korea, and the Rest of Asia Pacific (Vietnam, Taiwan, Indonesia, Bangladesh, Singapore, and Malaysia). The Asia Pacific market for glass fiber yarn is driven by the rising income level of the middle-class population and increasing government investments, especially in the building & construction and automobile sectors.
The key players in the global glass fiber yarn market are Owens Corning (US), Jushi Group Co., Ltd., Chongqing Polycomp International Corporation, Saint-Gobain S.A., Nippon Electric Glass Co. Ltd., AGY Holdings Corp., China Beihai Fiberglass Co., Ltd., Taiwan Glass Industry Corp., Nitto Boseki Co. Ltd. (Japan), PFG Fiber Glass Corp. (Taiwan). These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the glass fiber yarn industry. The study includes an in-depth competitive analysis of these companies in the glass fiber yarn market, with their company profiles, recent developments, and key market strategies.
Report Metric
Details
Years considered for the study
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Base year
Forecast period
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Units considered
Value (USD Million/Billion), Volume (Kiloton)
Segments
Glass Fiber Type, Yarn Type, Application, End-use Industry and Region
Regions
Europe, North America, APAC, MEA, and South America
Companies
Owens Corning (US), China Jushi Group Ltd (China), Chongqing Polycomp International Corporation (China), Saint-Gobain S.A (France), Nippon Electric Glass Co. Ltd (Japan), AGY Holdings Corp. (US), China Beihai Fiberglass Co. Ltd. (China), Taiwan Glass Industry Corp. (Taiwan)
This research report categorizes the glass fiber yarn market based on fiber type, resin type, manufacturing process, end-use industry, and region.
What are the factors influencing the growth of the glass fiber yarn market?
The growing consumption of glass fiber yarn in various end-use industries
Which is the fastest-growing country-level market for glass fiber yarn?
China is the fastest-growing glass fiber yarn market due to high demand
What are the factors contributing to the final price of glass fiber yarn?
Raw material plays a vital role in the costs. The cost of these materials contributes largely to the final pricing of glass fiber yarn.
What are the challenges in the glass fiber yarn market?
Capital intensive and complex manufacturing porcess is the major challenge in the glass fiber yarn market.
Which yarn type of glass fiber yarn holds the largest market share?
Single yarn glass fiber yarn hold the largest share due to low cost, wider application range and ease of manufacturing.
How is the glass fiber yarn market aligned?
The market is growing at a significant pace. It is a potential market and many manufactures are planning business strategies to expand their business.
Who are the major manufacturers?
Owens Corning (US), Jushi Group Co., Ltd., Chongqing Polycomp International Corporation, Saint-Gobain S.A., Nippon Electric Glass Co. Ltd., AGY Holdings Corp., China Beihai Fiberglass Co., Ltd., Taiwan Glass Industry Corp., Nitto Boseki Co. Ltd. (Japan), PFG Fiber Glass Corp. (Taiwan).
What are the glass fiber types for glass fiber yarn?
E-glass fiber type, S-glass fiber type and others
What are the major applications for glass fiber yarn?
The major applications for glass fiber yarn are PCB, Facade, Marbles & Mosaic Tiles, Structural parts, and others
What is the biggest restraint in the glass fiber yarn market?
Issues related with glass fiber yarn recycling .
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