Dublin, Sept. 26, 2022 (GLOBE NEWSWIRE) — The “Fiberglass Yarn Market by Fiber Type (E-Glass Type, S-Glass Type), Yarn Type (Single Yarn, Staple Yarn), Application (PCB, Facade, Marble & Mosaic Tiles, Structural Parts), End-Use Industry and Region – Global Forecast to 2027” has been added ResearchAndMarkets.com Offer.
The global fiberglass yarn market is valued at USD 2.5 billion in 2022 and is projected to reach USD 3.5 billion by 2027, at a CAGR of 6.5% between 2022 and 2027.
Fiberglass yarns are woven on air-jet looms or rapier looms to make printed circuit boards (PCBs) for radios, televisions, cell phones, personal computers, servers, and digital cameras. Composed of natural or synthetic fibers, they are also used to develop industrial fabrics and materials. Other uses of yarns include the development of reinforced fabrics for construction and grinding wheels.
E-glass is the largest market for fiberglass yarns by value.
The E-Fiber segment led the overall market in 2021 with a market share by value of 55.3%. Due to the excellent electrical insulation properties of the E-glass fiber, it is suitable as a base material in the information and electronic industries.
Major applications of E-Glass fiber yarn include personal computers and peripherals, LED TVs, telecommunications, base station servo devices, digital devices, and automotive panels, among others. The S-fiber segment is expected to register the highest CAGR during the forecast period.
PCB is the fastest growing application of fiberglass yarn by value.
A printed circuit board or PCB is a type of printed circuit board used to mechanically support and electrically connect electronic components by etching conductive paths, traces, or signal traces from copper sheets laminated to a non-conductive substrate. In terms of value, the Glass Fiber Yarn Market in Asia-Pacific PCB segment is anticipated to register a CAGR of 7.1% during the forecast period. The market for this segment in North America is expected to show a CAGR of 5%.
The high growth of the market for this segment in Asia-Pacific is attributed to the increasing spending on personal electronics and other electronic devices in Asian countries. The long-term trend of miniaturization and increased use of electronics in commercial and consumer products will drive the growth of the glass fiber yarn market in the electronics sector.
China is expected to dominate the Asia-Pacific electronics market during the forecast period, while India is expected to witness a significant growth rate owing to increasing consumer awareness and rapid industrialization.
Wind energy is the fastest growing fiberglass yarn end-use industry by value.
Wind turbine blades are critical components of wind power generation systems. Fiberglass yarn is used in the manufacture of wind turbine rotor blades because of its exceptional properties such as high tensile strength. Due to the corrosion-resistant properties of fiberglass, fiberglass wind turbine blades can function effectively even in adverse environmental conditions.
In addition to turbine blades, glass fiber yarn is used in generator rooms, nacelles and domes of wind turbines. The glass fiber yarn market in the wind energy sector is projected to grow at a CAGR of 7.6% during the forecast period.
China is the fastest growing glass fiber yarn market in Asia Pacific.
China accounted for 56% of the Asia-Pacific glass fiber yarn market by value in 2021. Due to the presence of a large number of electronic chips, it is one of the world’s leading manufacturers and consumers of fiberglass yarn manufacturing enterprises, increasing demand for automobiles and growing wind turbine installations in recent years.
The electrical and electronics industry is the largest consumer of fiberglass yarn in the country, accounting for 27.08% by value in 2021. The wind energy industry is the fastest growing segment in the country. The high growth in the wind energy industry is attributed to the increasing focus on renewable energy sources.
The market in the automotive and transportation segment is also projected to register a high CAGR of 8.1% during the forecast period, reaching a market size of USD 195.58 million by 2027.
Owens Corning (USA), China Jushi Group Ltd (China), Chongqing Polycomp International Corporation (China), Saint-Gobain SA (France), Nippon Electric Glass Co. Ltd (Japan), AGY Holdings Corp. (USA), China Beihai Fiberglass Co.Ltd. (China), Taiwan Glass Industry Corp. (Taiwan)
- Increasing demand for consumer electronics and light vehicles is driving the fiberglass yarn market
- The e-fiber segment had the largest market share in 2021
- PCB was the biggest application in 2021
- Electrical engineering and electronics were the largest end-use industry in 2021
- Market in India will register the highest CAGR during the forecast period
- Increasing consumption of fiberglass yarn in automotive and marine applications
- Extensive use of fiberglass yarn in the construction industry
- Increasing demand for fiberglass printed circuit boards
- Problems related to the recycling of fiberglass yarns
- High production costs for glass fiber yarn
- Increasing demand for electricity generation from renewable sources
- Increasing demand for fiberglass yarn in the Middle East and Africa for construction and infrastructure
- Increasing demand from the wind energy sector in the USA
- Capital-intensive production and complex manufacturing process of glass fiber yarn
- Owen Corning
- China Jushi Co.Ltd.
- Chongqing Polycomp International Corporation
- Pfg Fiber Glass Corporation
- Nippon Electric Glass Co.Ltd.
- Saint-Gobain SA
- Taishan Fiberglass Inc.
- Agy Holdingcorp.
- Taiwan Glass Industry Corporation
- Fulltech Fiber Optic Corp.
- China Beihai Fiberglass Co.Ltd.
- PPG Industries, Inc.
- Nitto Boseki Co.Ltd.
- Jiangsu Jiuding New Material Co.Ltd.
- Newtex Industries, Inc.
- Shree Laxmi Udyog
- Hebei Yuniu Fiberglass Manufacturing Co.Ltd.
- Changshu Dongyu Insulated Composite Materials Co.Ltd.
- Parabeam Bv
- Valmieras Stikla Siedra
For more information about this report, visit https://www.researchandmarkets.com/r/hmv03z
Global Glass Fiber Yarn Market