Global Fiberglass Roving Market Analysis 2020-2030
Fiberglass woven roving is a type of fabric material consisting of glass fibers that are woven in a specific pattern for the purpose of providing high strength when used to reinforce a coating or other composite system. The global fiberglass roving market is anticipated to grow with a CAGR of 5.50% during the forecast period, i.e., 2021-2030. Factors such as the rising use of fiberglass roving in rotor blades and nacelles of wind energy equipment, backed by the increasing adoption of wind energy sources, along with the rising demand for fiberglass roving from different end-use industries are anticipated to contribute to the market growth during the forecast period. The market is estimated to garner a revenue of about USD 8260 Million by the end of 2030, up from a revenue of near to USD 4840 Million in the year 2020.
The global fiberglass roving market is segmented by numerous segments, which include segmentation by product type, glass type, end-use industry, and by region. By product type, the market is segmented into single-end roving, multi-end roving, and chopped roving. In the year 2020, amongst all the other segments, the single-end roving segment registered the largest revenue of close to USD 2780 Million, and is further projected to reach a value of around USD 5080 Million by the end of 2030.
On the basis of regional analysis, the global fiberglass roving market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these segments, the market in the Asia Pacific, in the year 2020, attained the largest market revenue of about USD 2010 Million, and is further expected to cross USD 3810 Million by the end of 2030.
Some of the prominent industry leaders in the global fiberglass roving market that are included in our report are Owens Corning, China Jushi Co., Ltd., Chongqing Polycomp International Corporation, Johns Manville, Saint-Gobain Vetrotex, Nippon Electric Glass Co., Ltd., CTG Group (Taishan Fiberglass), AGY Holding Corporation, China Beihai Fiberglass Co., Ltd., Taiwan Glass Industry Corporation, and others.