The specialty synthetic fibers and glass fiber market had a consumption of 4,652,100.2 MT in 2012, with the highest share held by Glass fiber. The global market is projected to grow at a CAGR of 5.2% from 2013 to 2018. The highest revenue is forecasted to be for glass fiber, owing to the low pricing as compared to other specialty synthetic fibers, growing application markets, availability of raw material sand huge production scale especially in China. Carbon Fiber is expected to have the highest growth of 10.2% from 2013 to 2018. The para aramids and meta aramids are expected to share together 18.6% of the revenue by 2018, growing at the rates of 6.9% and 4.9%, respectively between 2013 and 2018.

DuPont (U.S.), Teijin Limited (Japan), Toho Tenax (Japan), Toray Industries Inc. (Japan), Mitsubishi Rayon Co. Ltd (Japan), Royal DSM (The Netherlands), Honeywell International Inc. (U.S.), Owens Corning (U.S.), and Jushi Group (China) are the major active players in the specialty synthetic fibers and glass fiber market. These companies showed the highest strategy adoptions amongst other players in the global specialty synthetic fibers and glass fiber market.

From 2010 to 2013, new product launch/development was observed as the major growth strategy adopted by the specialty synthetic fibers and glass fiber companies, accounting for a share of 28% overall. In November 2013, DSM Dyneema unveiled new Dyneema Force Multiplier Technology products that offer improved performance up to 25% higher ballistic protection while decreasing weight by up to 20%. Similarly in September, 2013 Teijin Aramid developed Twaron T765, new fabric for anti-ballistic spall liner to safeguard military vehicles such as tanks, trucks, and armored personnel carriers and passengers in DESI show, London, U.K. The industry players are looking for acquisitions to increase the reach, and also enhance their penetration in the market. In May 2013, Owens Corning signed a deal with Japan based Tanaka Kikinzoku Kogyo K.K and Tanaka Kikinzoku International K. K. to buy Tanaka Kikinzoku (Suzhou) Co., Ltd (TKS), producer of glass fiber bushings and other parts. This transaction enhanced the company’s product offering in the fast growing glass fiber market of China.

Major companies offering specialty synthetic fibers and glass fiber are actively involved in launching new products in the market by investing in R&D. Irrespective of the company’s size, all the market participants are actively investing in developing new products and delivering them to the market. The manufacturing companies are leveraging distribution networks of major companies by entering in to strategic supply and distribution agreements. In this way, companies are able to explore new markets and penetrate into the existing markets with highly efficient products.