Fiberglass Roving Global Market Report 2024

Fiberglass roving represents a denser fiberglass fabric manufactured from a singular bundle of continuous filaments. This material finds application in various processes such as pultrusion, multi-axial weaving, and filament winding, serving purposes in weaving tasks, cement board production, and other industrial functions.

The primary categories of fiberglass roving products include single-end roving, multi-end roving, and chopped roving. Single-end roving serves as the primary reinforcing fiber for filament winding and pultrusion applications. It also acts as the foundational fiber for woven roving and knitted textiles. Various types of fiberglass, such as e-glass, ECR-glass, H-glass, AR-glass, and S-glass, are utilized across a wide range of applications. These applications span industries such as electrical and electronics, transportation, construction and infrastructure, pipes and tanks, energy, and other industrial sectors.

The fiberglass roving market research report is one of a series of new reports from The Business Research Company that provides fiberglass roving market statistics, including fiberglass roving industry global market size, regional shares, competitors with a fiberglass roving market share, detailed fiberglass roving market segments, market trends and opportunities, and any further data you may need to thrive in the fiberglass roving industry. This fiberglass roving market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The fiberglass roving market size has grown strongly in recent years. It will grow from $8.8 billion in 2023 to $9.59 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth witnessed during the historic period can be primarily attributed to several contributing factors. These include the development within the construction and infrastructure sectors, increased demand from the automotive industry, extensive utilization in wind energy applications, manufacturing needs in boat and marine industries, and the expanding use of fiberglass roving in aerospace applications. These combined factors significantly contributed to the growth and utilization of fiberglass roving within various sectors during that period.

The fiberglass roving market size is expected to see strong growth in the next few years. It will grow to $13.05 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. Anticipated growth in the upcoming period can be linked to several factors.These include the ongoing expansion of renewable energy sources, the prevalent trend of lightweight materials in transportation, infrastructure projects focused on rehabilitation, advancements in manufacturing processes for composites, and the increasing demand for high-performance materials. Key trends expected in this period encompass expanded applications within the marine industry, ongoing infrastructure rehabilitation projects, collaborations among major industry players, market expansion initiatives in the Asia-Pacific region, and tailored offerings catering to specific end-use requirements. These factors collectively indicate a positive trajectory for the fiberglass roving market in the forecast period.

The anticipated growth in demand from the wind energy sector is poised to drive the expansion of the fiberglass roving market. The wind energy sector encompasses activities related to the development, production, construction, and maintenance of wind turbines and other renewable power devices. Fiberglass roving plays a crucial role in this sector, enabling the production of larger wind turbine blades that enhance energy output. It is a key material used in the manufacturing of nacelles and wind turbine blades. As of September 2022, reported by the International Energy Agency, the energy produced by wind increased by 273 TWh in 2021, marking a 17% growth rate - a figure 55% higher than any other power generation technology. Wind energy, generating 1,870 TWh in 2021, continues to lead as the prominent non-hydro renewable technology. This growth trend underscores the significant impact of the increasing demand from the wind energy sector on the fiberglass roving market.

The burgeoning construction industry is expected to be a significant driver of growth in the fiberglass roving market. The construction industry, encompassing activities related to the creation, renovation, and maintenance of structures and infrastructure, relies on fiberglass roving due to its combination of strength, durability, versatility, and cost-effectiveness. As of November 2023, reported by the UK's Office for National Statistics, the construction industry saw a 59.4% yearly increase in reported company insolvencies. However, the industry exhibited growth in new work, with an overall increase of £18,161 million in 2022, driven by growth in both the public and private sectors. The value of new construction activity in Great Britain increased by 15.8%, reaching a record high of £132,989 million. This surge in construction activity is a key factor propelling the fiberglass roving market.

A prominent trend gaining traction in the fiberglass roving market is product innovation. Major companies in this market are actively focused on developing innovative products to strengthen their market positions. In March 2023, Johns Manville, a US-based manufacturer of insulation, roofing materials, and engineered products, launched StarRovLFTplus Fiberglass Roving. This product, specifically designed for long fiber-reinforced thermoplastic (LFRT) applications, offers a robust solution for structural automotive applications. Johns Manville's collaboration with Zhongbao Ruiheng Technology Co. Ltd., a China-based manufacturer of composite materials, is expected to enhance its market share in China, providing access to a new clientele and additional knowledge in composite materials. The target market for this innovative product is the automotive sector, particularly for structural applications such as bumper beams and front-end carriers.

Prominent companies in the fiberglass roving market are actively focusing on technological innovations in manufacturing processes, showcasing advancements such as Interwet-LFI technology to solidify their market positions. Interwet-LFI technology is designed to enhance the structure of aesthetically designed polymer components by applying a Glass Fiber Reinforced Polyurethane (GFR-PU) layer to the reverse side, thereby adding stiffness, strength, and durability. This technology proves particularly beneficial for external body panels in automotive and agricultural vehicles. A noteworthy example is the launch of Interwet-LFI technology by Cannon Plas Tec, an Italy-based plastic processing manufacturing company, in October 2023. Cannon Plas Tec's Interwet-LFI technology is specifically tailored for GFR-PU structural, lightweight, and aesthetic composite applications, contributing to the production of glass fiber-reinforced polyurethane (GFR-PU) parts. The technology's autonomy and adaptability allow Cannon to produce a diverse range of fillers with a fiber volume fraction (FVF) of up to 50%. The spraying cycle of this innovative technology facilitates the adjustment of fiber loading and reinforcing length, ranging from 12.5 to 100 mm, optimizing tensile strength. Furthermore, fiber orientation is carefully regulated by deflectors positioned near the spray head's nozzles. This level of control enables the manufacturing of thicker load-bearing components and shallow or deep-ribbed, thin-walled parts with a more consistent lay-down. Cannon Plas Tec's Interwet-LFI technology reflects a commitment to cutting-edge manufacturing processes in the fiberglass roving market, offering enhanced capabilities and versatility in meeting industry demands.

In February 2021, Atkore, a United States-based manufacturer specializing in electrical products, completed the acquisition of FRE Composites Group. The specific financial details of this acquisition were not disclosed. This strategic move by Atkore aimed to broaden its range of conduit products. FRE Composites Group, also based in the US, specializes in the production of fiberglass reinforced products utilizing continuous E or E-CR roving within a cured corrosion-resistant phenolic resin system.

Major companies operating in the fiberglass roving market report are Saertex GmbH, Saint-Gobain S.A., PPG Industries Inc., Owens Corning, China Jushi Co. Ltd., Nippon Electric Glass Co. Ltd., Taiwan Glass Ind. Corp., Taiwan Glass Industry Corporation, Johns Manville, Knauf Insulation, Nitto Boseki Co. Ltd., Chongqing Polycomp International Corporation, Jiangsu Jiuding New Material Co. Ltd., AGY Holding Corp., Chomarat Group, AGY Holdings Corp., 3B - the fiber glass company, Fiberlay Inc., Nittobo America Inc., Saint-Gobain Vetrotex, Taishan Fiberglass Inc., China Beihai Fiberglass Co. Ltd., PFG Fiberglass Corporation,P-D Glasseiden GmbH, PFG Fiberglass Corporation, Glass Fiber Technology Co. Ltd.

Asia-Pacific was the largest region in the fiberglass roving market in 2023. The regions covered in the fiberglass roving market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the fiberglass roving market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The fiberglass roving market consists of sales of A-glass fiber, D-glass fiber, ECR glass fiber, and S-2 glass fiber. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Fiberglass Roving Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on fiberglass roving market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for fiberglass roving ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The fiberglass roving market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product Type: Single-End Roving; Multi-End Roving; Chopped Roving
• 2) By Fiberglass Type: E-glass; ECR-glass; H-glass; AR-glass; S-glass
• 3) By Application: Electrical And Electronics; Transportation; Construction And Infrastructure; Pipes And Tanks; Energy; Other Applications
• Companies Mentioned: Saertex GmbH; Saint-Gobain S.A.; PPG Industries Inc.; Owens Corning; China Jushi Co. Ltd.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.