The global glass fiber yarn market is estimated to be USD 2.5 Billion in 2022 and is projected to reach USD 3.5 Billion by 2027, at a CAGR of 6.5% between 2022 and 2027.
Glass fiber yarns are woven on air-jet looms or rapier looms to manufacture printed circuit boards (PCBs) for radios, television units, mobile phones, personal computers, servers, and digital cameras. They are made from natural or synthetic fibers and are also used to develop industrial cloth and materials. Other applications of yarns include the development of reinforced cloth for construction and grinding wheel discs.
“E-glass type is the largest market in glass fiber type of glass fiber yarn, in terms of value.”
The E-glass fiber segment led the overall market with a market share of 55.3%, in terms of value, in 2021. Due to the outstanding electric insulation properties of E-glass fiber, it is suitable as the base material in the information and electronic industries. The main applications of E-glass fiber yarn include personal computers and peripheral equipment, LED TVs, telecommunications, base station servo devices, digital equipment, and automobile panels, among others. The S-glass fiber segment is expected to register the highest CAGR during the forecast period.
“PCB is the fastest-growing application of glass fiber yarn, in terms of value.”
A printed circuit board, or PCB, is a type of circuit board that is used to mechanically support and electrically connect electronic components by etching conductive pathways, tracks, or signal traces from copper sheets laminated onto a non-conductive substrate. In terms of value, the glass fiber yarn market in the PCB segment in Asia Pacific is projected to register a CAGR of 7.1% during the forecast period. The market for this segment in North America is projected to witness a CAGR of 5%.
The high growth of the market for this segment in Asia Pacific is attributed to the rising expenditure on personal electronics and other electronic appliances in Asian countries. The long-term trend of miniaturization and increased use of electronics in commercial and consumer products will fuel the growth of the glass fiber yarn market in the electronics sector. China is expected to dominate the Asia Pacific electronics market during the forecast period, while India is expected to register a substantial growth rate due to increasing consumer awareness and rapid industrialization.
“Wind energy is the fastest-growing end-use industry of glass fiber yarn, in terms of value.”
Wind turbine blades are critical components of wind power generation systems. Glass fiber yarn is used in the manufacturing of wind turbine blades as it offers exceptional properties, such as high tensile strength. Wind turbine blades made of glass fiber can function effectively even under adverse environmental conditions, owing to the corrosion-resistance properties of glass fiber. In addition to turbine blades, glass fiber yarn is used in generator rooms, nacelles, and domes of wind turbine generator systems. The market of glass fiber yarn in wind energy sector is expected to grow with a CAGR of 7.6% during the forecast period.
“China is the fastest-growing Glass Fiber Yarn market in Asia Pacific region.”
China accounted for 56% of the Asia Pacific glass fiber yarn market, in terms of value, in 2021. Globally, it is one of the leading manufacturers and consumers of glass fiber yarn, owing to the presence of a large number of electronic chips manufacturing companies, increasing demand for automobiles, and growing wind turbine installations in recent years.
The electrical & electronics industry is the largest consumer of glass fiber yarn in the country, accounting for 27.08% , in terms of value, in 2021. The wind energy industry is the fastest-growing segment in the country. The high growth in the wind energy sector is attributed to the increasing focus on renewable energy resources. The market in the automotive & transportation segment is also projected to register a high CAGR of 8.1% during the forecast period and reach a market size of USD 195.58 million by 2027.
This study has been validated through primary interviews conducted with various industry experts globally. These primary sources have been divided into the following three categories:
- By Company Type- Tier 1- 37%, Tier 2- 33%, and Tier 3- 30%
- By Designation- C Level- 50%, Director Level- 20%, and Others- 30%
- By Region- North America- 15%, Europe- 50%, Asia Pacific (APAC) - 20%, Latin America-5%, Middle East & Africa (MEA)-10%,
The report provides a comprehensive analysis of company profiles stated below:
Owens Corning (US), China Jushi Group Ltd (China), Chongqing Polycomp International Corporation (China), Saint-Gobain S.A (France), Nippon Electric Glass Co. Ltd (Japan), AGY Holdings Corp. (US), China Beihai Fiberglass Co. Ltd. (China), Taiwan Glass Industry Corp. (Taiwan)
This report covers the global glass fiber yarn market and forecasts the market size until 2026. The report includes the market segmentation – Glass Fiber Type (E-glass fiber, S-glass fiber and Other), Yarn Type( Single Yarn, Piled yarn, and others), Application (PCB, Facade, Marble & Mosaic Tiles, Structural parts and others), End-use Industry (Wind Energy, Automotive & Transportation, Building & Construction, Marine, , Electrical & Electronics, and Others) and Region (Europe, North America, APAC, South America, and MEA). Porter’s Five Forces analysis, along with the drivers, restraints, opportunities, and challenges, are discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global glass fiber yarn market.
Key benefits of buying the report:
The report will help market leaders/new entrants in this market in the following ways:
- This report segments the global glass fiber yarn market comprehensively and provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
- The report helps stakeholders understand the pulse of the glass fiber yarnmarket and provides them with information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses.
- The competitive landscape section includes the competitor ecosystem, new product development, agreement, and acquisitions.
Reasons To Buy the report:
The report will help market leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall glass fiber yarn market and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities