Research Nester published a report titled “Fiberglass Roving Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global fiberglass roving market in terms of market segmentation by product type, glass type, end-use industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global fiberglass roving market is anticipated to grow with a CAGR of 5.50% during the forecast period, i.e., 2021-2030. The market is segmented by product type into single-end roving, multi-end roving, and chopped roving, out of which, the single-end roving segment is projected to garner the largest revenue of USD 5081.50 Million by the end of 2030. Moreover, in the year 2020, the segment registered a revenue of USD 2776.68 Million.
The global fiberglass roving market is estimated to garner a revenue of USD 8262.59 Million by the end of 2030, up from a revenue of USD 4837.18 Million in the year 2020. Growing number of wind farms worldwide, increasing wind energy capacity additions, and the increasing use of fiberglass roving in rotor blades and nacelles of wind energy equipment, are some of the major factors anticipated to drive the market growth. Moreover, rising use of fiberglass roving in different end-use industries is also projected to contribute to the market growth in the coming years.
The global fiberglass roving market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in the Asia Pacific is expected to reach the largest market revenue of USD 3817.32 Million by the end of 2030, up from a revenue of USD 2010.21 Million in the year 2020. The market in the region is further segmented by country into China, Japan, India, South Korea, and the Rest of APAC, out of which, the market in China is projected to grow with the highest CAGR of 7.92% during the forecast period and further touch a revenue of USD 1809.41 Million by the end of 2030.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Utilization of Fiberglass Roving in Wind Energy Applications
The International Renewable Energy Agency (IRENA), in one of its statistics, stated that in the year 2020, the total onshore installed capacity of wind energy worldwide touched 698043 MW, up from 177795 MW in the year 2010.
Backed by the rising environmental pollution worldwide, the government of nations are increasingly focusing towards renewable energy sources, such as wind energy. With significant investments being made to deploy large wind energy farms, the demand for fiberglass roving has witnessed a significant growth. These composites are used in rotor blades and nacelles of wind energy equipment. The rising demand for wind energy equipment is therefore projected to drive the growth of the global fiberglass roving market in the coming years.
However, the difficulties in recycling of glass wool is expected to operate as key restraint to the growth of global fiberglass roving market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global fiberglass roving market which includes company profiling of 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. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global fiberglass roving market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.