The market for fiberglass fabric is expected to register a CAGR of approximately 6% globally during the forecast period.
- Increasing applications for high-temperature-resistant textiles and growing demand from the electronics and construction sectors for various applications are driving the market growth.
- The high cost of production is expected to hinder the market growth.
Key Market Trends
Growing Demand for High-Temperature Resistance Applications
- Fiberglass Fabric has been increasingly used as high thermal insulation material in various applications, such as tonneau covers, body panels, architectural decorative parts, door skins, wind blades, protection, boat hulls, electrical housings among others.
- Fiberglass Fabrics are also used as insulation blankets and pads in the insulation industry because of their excellent thermal properties. These fabrics are also chemical resistant and have high dielectric strength.
- As fiberglass fabric is high-temperature and water-resistant, marine and defense use fiberglass fabrics for flange shield material production purposes. Fiberglass fabrics are also used in electronics in PCBs manufacturing due to their properties, such as electrical resistance and electric insulation.
- The construction industry has been primarily witnessing the application of these fabrics for insulation purposes. These fabrics are being used in composite walls, insulation screens, baths and shower stalls, roofing panels, architectural decorative parts, cooling tower components, and door skins.
- Increasing temperatures, growing corrosion resistance applications, innovative applications in the aerospace and marine sectors are driving the demand for fiberglass fabric in recent times.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific is expected to dominate the global market, owing to the highly developed electronics and construction sector, coupled with the continuous investments done in the region to advance the wind energy sector over the years.
- The growth for woven fiberglass fabrics from end-users in Asia-Pacific is primarily because of properties offered by fiberglass fabrics, such as high tensile strength, high heat resistance, fire resistance, good thermal conductivity and chemical resistance, excellent electrical properties, and durability.
- Fiberglass fabrics are being used in civil engineering for insulation and coverage purposes. Majorly, it helps in the uniformity of the surface structure, wall reinforcement, fire and heat resistance, noise reduction, and environment protection.
- China, Singapore, South Korea, and India witnessed major growth in the construction industry in recent years. According to the Ministry of Trade and Industry, Singapore, the construction industry has seen positive growth in recent years, owing to expansions in the residential sector.
- The growing construction sector in developing countries, increasing applications for insulation fabrics, and increasing environmental awareness among people in Asia-Pacific are expected to drive the market for fiberglass fabrics over the years to come.
The global fiberglass fabric market is partially consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are Saint-Gobain SA, Owens Corning, Hexcel Corporation, Jushi Group Co. Ltd, and Central Glass Co. Ltd, among others.
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