E-glass Fiber Yarn & Roving Market Size & Share 2024–2032
Market Size by Product (Fiber Yarn, Fiber Roving) & Forecast.
Report ID: GMI3966
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Published Date: September 2024
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Report Format: PDF
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Authors:
Kiran Pulidindi, Kunal Ahuja
E-glass Fiber Yarn & Roving Market Size
E-Glass Fiber Yarn & Roving Market size achieved USD 10.62 billion in 2023 and will grow at 6.7% CAGR from 2024 to 2032. Rising demand for glass fibers from automotive & transport, construction, wind energy, pipes & tanks and aerospace industries is likely to boost market size. These products are light in weight and offer high tensile strength, flexibility, thermal and electrical resistance at minimal cost.
E-glass Fiber Yarn & Roving Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
Increasing investment in infrastructure development in the U.S. Rising focus on energy conservation in construction industry is expected to stimulate E-glass fiber yarn & roving industry growth for their application as insulating materials.
Growing global automotive sales, with worldwide car sales in 2022 valued at over USD 850 million indicates favorable circumstances for the market growth. Rising demand for lightweight, fuel-efficient vehicles along with high-speed sports cars is projected to drive product from automotive & transport sector.
E-glass fiber is widely used in aerospace applications pertaining to its dimensional stability and temperature resistance. It is naturally incombustible and does not emit toxic products or smoke when exposed to heat. Increasing demand for fuel efficient, lightweight composites due to their low maintenance costs and high load bearing capacity is likely to drive E-glass fiber yarn & roving market growth.
The global expansion of the electronics industry, coupled with a surge in new construction projects, is fueling demand for E-glass fiber yarn and roving. E-glass fibers are prized for their insulating and reinforcing properties, making them ideal for electronics and construction applications. Additionally, the automotive industry's shift towards lightweight and fuel-efficient vehicles drives the need for high-strength, lightweight materials like E-glass. This trend aligns with the rising demand for S-Glass fiber, known for its superior strength and performance.
However, challenges include fluctuating raw material costs and intense competition from alternative materials such as carbon fibers. Furthermore, the market must address environmental concerns related to the production and disposal of glass fibers. Companies need to innovate and improve efficiency while navigating these hurdles to capitalize on the growing demand effectively.
E-glass Fiber Yarn & Roving Market Trends
Technological advancements are reshaping its landscape, Innovations in manufacturing techniques have led to the development of high-performance fibers with enhanced strength and durability. Advancements in sizing and coating technologies are improving the compatibility of E-glass with various resins and matrices, which is expanding its applications across automotive, aerospace, and construction sectors. The introduction of automated production systems is increasing efficiency and reducing costs, while research into sustainable and eco-friendly materials is gaining traction. These trends are driven by the growing demand for lightweight, high-strength materials and the push for more sustainable manufacturing practices. As a result, the market is evolving rapidly, with continuous innovations enhancing product performance and broadening application scopes.
E-glass Fiber Yarn & Roving Market Analysis
The fiber roving segment will capture USD 13.92 billion and demonstrate a 6.8% CAGR till 2032. The E-glass fiber yarn and roving market is segmented primarily into two product categories: Fiber Yarn and Fiber Roving. Fiber Yarn is widely used in applications requiring high tensile strength and flexibility, making it ideal for reinforcing composites in the automotive and aerospace industries. This segment benefits from increasing demand for lightweight, high-strength materials. On the other hand, Fiber Roving is utilized in processes like pultrusion and filament winding, where its bulk and continuous length provide structural reinforcement and enhanced durability. The demand for Fiber Roving is driven by its application in construction, marine, and wind energy sectors. Both product categories are experiencing growth due to advancements in manufacturing technologies and an expanding range of applications.
The automotive and transport segment held an 23.2 % market share in 2023, amounting to USD 1.96 billion, and is projected to grow at a 5.7% CAGR from 2024 to 2032. Due to the increasing demand for impact resistant, low weight and durable materials in the development of commercial aircraft. These products are served in the fighter aircrafts construction owing to their high load bearing structures and exceptional low weight which enables the aircraft to carry more weapons and increases mission’s effectiveness. Furthermore, it is used in flooring, seating, cargo liners and other cabin interior parts as they provide superior electrical insulation. Growing R&D innovations have increased the usage of glass fiber composites in fighter aircraft owing to their high tensile strength and stability in space environment which is likely to boost E-glass fiber yarn & roving market size.
Global E-glass fiber roving market size from wind energy application is likely to witness growth due to high strength at low weight which increases rotor blades efficiency and duration. These products are widely used in large wind turbines manufacturing for different geographies and climatic conditions in a cost-effective way which is expected to be a major driving factor for the market growth with rising demand for renewable energy sources from across the globe. Significant growth in wind energy consumption and increasing demand for lightweight turbine components to facilitate transportation at low accessibility areas may accelerate market demand.
Asia Pacific E-glass fiber yarn & roving industry is projected to achieve USD 10 billion, with a CAGR of 7.3% from 2024 to 2032. Asia Pacific, led by India, China, South Korea and Japan E-glass fiber yarn & roving market experiencing growth due to the high penetration and huge growth in the construction industry. Rapid urbanization along with rising demand from automotive & transport, construction, and industrial applications pertaining to its superior capabilities shall propel market size. Additionally, increasing energy efficient products demand and growth in automobile production in India is projected to have a positive impact on the market growth. Europe market demand driven by Germany, UK, France, Italy and Spain may witness significant gains during the forecasted timespan pertaining to the significant growth in automotive industry and increasing lightweight product usage in automotive body parts. Increasing technological advancements have enabled manufacturers to produce sustainable substitutes to plastics and metals which is likely to induce the E-glass fiber regional market growth.
E-glass Fiber Yarn & Roving Market Share
Companies include, PPG Industries, Taishan Fiberglass, CIPC, Jushi Group, and Owens Corning are key players in the E-glass fiber yarn and roving market, each contributing significantly to the industry's growth and innovation. PPG Industries is renowned for its advanced E-glass products that enhance durability and performance in composite materials. Taishan Fiberglass, a leading Chinese manufacturer, offers a wide range of high-quality E-glass fibers, driving global competitiveness. CIPC (China National Building Material Group) focuses on the development of cost-effective, high-strength E-glass solutions. Jushi Group, another major Chinese player, provides innovative E-glass products that are essential for applications in automotive and construction sectors. Owens Corning is known for its pioneering advancements in E-glass technology, particularly in producing lightweight and high-strength fibers that improve structural integrity and efficiency.
E-glass Fiber Yarn & Roving Market Companies
Top companies operating in the industry include:
E-glass Fiber Yarn & Roving Industry News
May 2022: Owens Corning, a leading global manufacturer of glass fiber reinforcements for composite systems and building materials, has formed a strategic alliance with Taishan Fiberglass, a subsidiary of China National Materials Group (Sinoma). This partnership aims to expand the global use of Alkali Resistant (AR) specialty glass products, including the Cem-FIL, Anti–CRAK, and Slurry-FIL brands.
The E-glass fiber yarn & roving market research report includes in-depth coverage of the industry, with estimates and forecasts in terms of revenue and volume (USD Million) (Kilo Tons) from 2024 to 2032, for the following segments:
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