Global Fiberglass Roving Market Growth Rate 2024, Forecast To 2033
8 Mar, 2024
The fiberglass roving market has witnessed strong growth, set to rise from $8.8 billion in 2023 to $9.59 billion in 2024, reflecting a compound annual growth rate (CAGR) of 9.0%. This growth is driven by demand from construction, automotive, wind energy, marine, and aerospace sectors. Projections suggest continued robust growth, with the market forecasted to reach $13.05 billion by 2028, boasting a CAGR of 8.0%. Expansion in renewable energy, lightweighting trends, and infrastructure projects will contribute to market growth, alongside trends such as marine applications and collaborations in the Asia-Pacific region.
Global Fiberglass Roving Market Key Driver
Growth in the fiberglass roving market is anticipated, propelled by the rising demand from the wind energy sector. This sector, comprising the development, production, and maintenance of wind turbines and associated power devices, utilizes fiberglass roving to manufacture larger turbine blades, enhancing energy output. Notably, data from the International Energy Agency shows a significant 17% increase in wind energy production in 2021, reaching 1,870 TWh and outpacing growth in other power generation technologies by 55%. Hence, the burgeoning demand from the wind energy sector is fueling the growth of the fiberglass roving market.
Get A Free Sample Of The Global Fiberglass Roving Market ReportGlobal Fiberglass Roving Market Segments
The fiberglass roving market covered in this report is segmented –
1) Product Type:Single-End Roving, Multi-End Roving, Chopped Roving
2) Fiberglass Type:E-glass, ECR-glass, H-glass, AR-glass, S-glass
3) Application:Electrical And Electronics, Transportation, Construction And Infrastructure, Pipes And Tanks, Energy, Other Applications
By Geography: The countries covered in the fiberglass roving market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Asia-Pacific was the largest region in the fiberglass roving market in 2023. The regions covered in the fiberglass roving market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Fiberglass Roving Industry Players
Saertex GmbH; Saint-Gobain S.A.; PPG Industries Inc.; Owens Corning; China Jushi Co. Ltd.; Nippon Electric Glass Co. Ltd.; Taiwan Glass Ind. Corp.; Taiwan Glass Industry Corporation; Johns Manville; Knauf Insulation; Nitto Boseki Co. Ltd.; Chongqing Polycomp International Corporation; Jiangsu Jiuding New Material Co. Ltd.; AGY Holding Corp.; Chomarat Group; AGY Holdings Corp.; 3B – the fiber glass company; Fiberlay Inc.; Nittobo America Inc.; Saint-Gobain Vetrotex; Taishan Fiberglass Inc.; China Beihai Fiberglass Co. Ltd.; PFG Fiberglass Corporation;P-D Glasseiden GmbH; PFG Fiberglass Corporation; Glass Fiber Technology Co. Ltd.
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Fiberglass Roving Market Overview
Fiberglass roving is a heavier fiberglass cloth derived from a single bundle of continuous filaments. It can be employed in procedures including pultrusion, multi-axial weaving, and filament winding and be utilized in weaving, making cement boards, and other functions.