Fiberglass Fabric Market is estimated to be US$ 30.5 billion by 2032 with a CAGR of 7.9 % during the forecast period- By PMI

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Prophecy Market Insights latest research report on the Fiberglass Fabric Market provides a comprehensive analysis of the current market scenario, growth opportunities, challenges, and emerging trends. The report offers insights into the market’s size and share, key market players, distribution channels, and consumer preferences. It also examines the impact of the COVID-19 pandemic on the market and provides a detailed analysis of the competitive landscape, including strategic alliances, mergers, and acquisitions.

Covina, Oct. 02, 2023 (GLOBE NEWSWIRE) — Fiberglass fabric, also known as fiberglass cloth or glass fiber fabric, is a versatile material made from woven strands of glass fibers. It is used in various industries for its excellent combination of strength, durability, and resistance to heat and corrosion. Fiberglass fabric is created by weaving glass fibers into a textile-like material, and it comes in a variety of forms, including plain weave, twill weave, and satin weave, each with specific characteristics and applications.

Fiberglass fabric is widely used in the manufacturing of wind turbine blades due to its strength, durability, and lightweight properties. The expanding wind energy sector is expected to drive demand for Fiberglass Fabric Market.

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Market Dynamics:

  1. Growing Demand in Construction and Infrastructure: The demand for fiberglass fabric has been on the rise due to its versatile applications in the construction and infrastructure sectors. It is used for reinforcing concrete, providing strength and durability to structures. As economies grow and urbanization continues, the demand for fiberglass fabric in these sectors is expected to increase.
  2. Automotive and Aerospace Industry: Fiberglass fabric finds applications in the automotive and aerospace industries for its lightweight and high-strength properties. Market dynamics in these sectors can impact the fiberglass fabric market significantly. Changes in automotive production, technological advancements, and shifts in aerospace demand can influence the market.
  3. Environmental Regulations and Sustainability: Environmental concerns and regulations can also play a role in shaping the market dynamics. As governments and consumers increasingly emphasize sustainability, there may be a push for more eco-friendly manufacturing processes and recyclable materials in the fiberglass fabric industry. Market participants need to adapt to these changing expectations and regulations.
  4. Raw Material Prices and Supply Chain: The cost and availability of raw materials, such as glass fibers and resins, can impact the pricing and supply of fiberglass fabric. Any disruptions in the supply chain, such as shortages or price fluctuations in raw materials, can affect the overall market dynamics. Manufacturers may need to strategize to mitigate these risks.

Key market drivers:

  • Growing demand from the wind energy sector: Fiberglass fabric is a key component of wind turbine blades, which are required to be lightweight, strong, and durable. The growing demand for renewable energy is expected to boost the demand for fiberglass fabric in the coming years.
  • Increasing investments in the construction sector: Fiberglass fabric is used in a variety of construction applications, such as roofing, insulation, and reinforcement. The rising global construction spending is expected to drive the demand for fiberglass fabric in the construction sector.
  • Expanding applications in the electronics sector: Fiberglass fabric is used in various electronics applications, such as printed circuit boards and circuit breakers. The growing demand for electronic products is expected to support the growth of the fiberglass fabric market in the electronics sector.

Key Highlights:

  • In July 2022, Heaterk Launched Double-coated Fiberglass Fabric with One Side Graphite and One Side Silicone. The proven, fully compliant graphite silicone-coated fibreglass materials completely satisfy customer demands. The graphite layer can operate in conditions as low as 5 kV DC and can tolerate temperatures of up to 5400°F (2980°C).

Other factors:

  • Technological advancements: Technological advancements in the fiberglass manufacturing process are leading to the development of new and improved fiberglass fabrics with enhanced properties. This is expected to expand the scope of applications for fiberglass fabric.
  • Increasing environmental awareness: Fiberglass fabric is a sustainable material that can be recycled and reused. The growing environmental awareness among consumers and businesses is expected to drive the demand for fiberglass fabric in the coming years.

Key market challenges:

  • High cost of production: The production of fiberglass fabric is a complex and energy-intensive process. This results in a high cost of production, which can limit the adoption of fiberglass fabric in some applications.
  • Health and safety concerns: The exposure to fiberglass dust can cause health problems, such as skin irritation and respiratory problems. This is a major challenge for the fiberglass fabric market.

Analyst View:

Fiberglass composites, including fiberglass fabric, are increasingly being used in lightweight structural components for vehicles and aircraft. As these industries continue to evolve, the demand for fiberglass fabric is likely to increase. Fiberglass fabric’s resistance to corrosion and heat makes it valuable in industrial applications, including chemical processing and manufacturing.

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Key market players:

  • Hangzhou Mingda Glass Finbre Co. Ltd.
  • Zhejiang Yuanda Fiberglass Mesh Co. Ltd.
  • Changshu Jiangnan GlassFiber Co. Ltd.
  • Xiangyang Huierjie Glassfibre
  • Chaozhou Chuangjia Group Co. Ltd.
  • Saint Gobain (Adfors)
  • Valmiera Glass Group
  • Stekloplast
  • San Diego Seal, Inc.
  • Shree Firepack Safety Pvt. Ltd

Conclusion:

The global fiberglass fabric market is expected to grow at a steady pace in the coming years. This is due to the growing demand from the wind energy, construction, and electronics sectors. The increasing environmental awareness among consumers and businesses is also expected to drive the demand for fiberglass fabric.

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