The global fiberglass fabric market is anticipated to grow at a CAGR of 6.7% during the forecast period (2024-2031). The application of fiberglass fabrics is increasing in wind energy and electric & electronic sectors which, in turn, drives the growth of the market. Fiberglass fabric comes with unique properties which makes them highly demanded in various industries including aerospace, defense, transportation, electrical, and construction. The increase in mergers & acquisitions among key market players for the supply of raw materials and production of fiberglass fabric materials for energy generation from renewable energy sources is another prime factor encouraging the growth of the market. For instance, in November 2020, Owens Corning completed the acquisition of Saint-Gobain’s Reinforcements and Composite Fabrics businesses for $640 million. The acquisition accelerates Owens Corning’s global growth strategy and strengthens its position as a market leader in glass reinforcements and composites. The acquisition was comprised of 20 plants and more than 4,500 employees across the globe. Besides, the acquisition of the Saint-Gobain Fabrics business gives Owens Corning a market-leading position in the high-growth fabrics industry.
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Moreover, in September 2019, Saertex GmbH & Co. KG, the manufacturer of technical textiles had acquired 100% shares of TK Industries GmbH. TK Industries is a medium-sized fabric manufacturer of carbon fiber with the latest multiaxial production technology. Through this acquisition, Saertex GmbH & Co. has expanded its product range in heavy-tow carbon fiber multiaxial fabrics. Considering these mergers and acquisitions among market players, considerable growth can be expected in the global fiberglass fabric market. Besides, these growth factors, lack of awareness among people regarding benefits or uses of fiberglass fabric, and high cost of production projected to hinder the market growth.
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Market Coverage
- Segment Covered-
o By Fabric Type
o By Fiber Type
o By Application
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Owens Corning, SAERTEX GmbH & Co.KG, Zhenshi Holding Group Co., Ltd, Taiwan Electric Insulator Co., Ltd, Tah Tong Textile Co., Ltd., Gurit Holding AG, Hexcel Corp., BGF Industries, Inc., Fothergill Group, among Others.
Key questions addressed by the report:
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Fiberglass Fabric Market Report Segment
By Fabric Type
- Woven
- Non-Woven
By Fiber Type
- E-Glass
- S-Glass
- Others (A-Glass, C-Glass, D-Glass)
By Application
- Construction
- Wind Energy
- Electrical & Electronics
- Transportation
- Aerospace & Defense
- Others (Marine)
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