A new research report titled, “Glass Fibers: A Global Strategic Business Report” has been published by GIA. The worldwide glass fibers market is estimated to surpass 8.5 Mt by 2017. The report comprises profiles of major market participants, strategic corporate initiatives, recent product releases and key market trends.
Glass fiber material aids advancements in automotive and construction applications. The flexible performance and low cost of the material has made it a primary reinforcement fiber in plastic product production. The global recession has decreased the demand for glass fiber or glass wool, especially in Europe and North America. But, the recovery in the global economy helped to increase the demand for glass fibers. In addition, to the recovery in the economy, material enhancements, technological advancements and huge potential in Asian countries are likely to encourage the glass fiber market growth further.
The worldwide glass fiber market is dominated by Asia-Pacific, Europe and the U.S. China is emerging in this market and has captured over 50% of the global production capacity. Glass wool is used extensively in the construction industry due to its excellent thermal conductivity and sound absorption properties. The glass fiber or glass wool market is also observing increased demand from high-tech industries, including aircraft, automotive, electronics and others.
The report includes profiles of key market players, including Owens Corning, Nippon Sheet Glass, Knauf, Johns Manville, China Fiberglass and Advanced Glass fiber Yarns.