The global special-purpose glass fibers market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving market revenue growth are rising construction and building sector, rapid urbanization, rising disposable income, and technological advancements.

Rapid industrialization and urbanization has led to increase in number of construction and building projects with modern equipment and durable materials. Glass fiber or fiberglass can be defined as a raw-material composed of extremely thin fibers of glass that possesses exceptional properties of durability, lightweight, dimensional stability, and heat resistance. Mainly used in the construction industry, special purpose glass fibers are slowly gaining popularity among consumers due to properties such as high tensile strength and versatility in end-use. Thin strands of silica-based or other glass material are extruded into fibers and are further processed based on application. Increasing adoption in automobile, aerospace and leisure goods industry, coupled with wide-range of benefits associated with the material, is expected to provide new opportunities for market growth.

Top Companies Operating in the Global Special-Purpose Glass Fibers Market:

Saint-Gobain Vetrotex, Owens Corning Corporation, PPG, Lanxess, Jushi Group Co. Ltd., CPIC, Taishan Fiberglass (Sinoma), Sichuan Weibo New Material Group, Jiangsu Jiuding New Material, Changzhou Tianma Group, BGF Industries, Nitto Boseki Co. Ltd., Asahi Glass Company Limited, Johns Manville, and Advanced Glassfiber Yarns LLC

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The factors that drive the industry's growth are highlighted in the report. The report divides the Special-Purpose Glass Fibers market into main categories such as forms, applications, end-users, technology, and others for a better understanding. These segments are thoroughly examined in order to provide a more accurate outlook for the global and regional markets. The report also examines the industry's major players, including their product portfolios, company overviews, strategic growth strategies, revenue generation, market share and market size, geographic presence, and development and manufacturing capabilities.

Market Overview:

Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.

The adoption of digital technologies by oil, gas, and chemical firms has been fueled primarily by cost savings and greater reliability. Many organizations in these areas saw excellent benefits from advanced market sensing, improved operational optimization, and expanded usage of "in silico" simulations. Companies' existing digital technologies provided an advantage with the abrupt entrance of COVID-19 and the accompanying shutdown of facilities and work sites, but they were often insufficient for the level of remote working and cybersecurity that was suddenly required.

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Special-Purpose Glass Fibers Market Segmentation

Types Outlook (Revenue, USD Billion; 2018 – 2028)

  • High Temperature Resistant Glass Fiber
  • Alkali Resistant Glass Fiber
  • Other

Manufacturing Process Outlook (Revenue, USD Billion; 2018 – 2028)

  • Spray Up
  • Hand Lay-Up
  • Injection Molding
  • Prepreg Lay-Up
  • Pultrusion
  • Resin Infusion
  • Compression Molding
  • Others

Application Outlook (Revenue, USD Billion; 2018 – 2028)

  • Transportation
  • Construction
  • Pipe & Tank
  • Aerospace
  • Electrical & Electronics
  • Wind Energy
  • Consumer Goods
  • Others

The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.

The Special-Purpose Glass Fibers market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Special-Purpose Glass Fibers market.

The global Special-Purpose Glass Fibers market is segmented into:

·         North America (U.S.A., Canada, Mexico)

·         Europe (Italy, U.K., Germany, France, Rest of Europe)

·         Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)

·         Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

·         Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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