According to a new report, the global glass fiber market by application was valued at US$9.26 billion in 2014, and is projected to reach US$14.27 billion by 2019, at a CAGR of 9.0% during 2014 to 2019.
The demand for composites and insulations are experiencing high growth, due to an increase in the number of manufacturers and the rapid expansion of the glass fiber industry. The future growth of the industry would be augmented by investments made in the composites segment, especially in regions such as Asia-Pacific, North America, and Europe. In Asia-Pacific and North America, increase in population has directly impacted the overall demand for automobiles and general engineering industries. As glass fiber forms an essential material required to produce race car body and glass fiber seats for CART racing, its increasing applicability in the automobile sector has resulted in the growth of the global glass fiber market.
The report, entitled ‘Global Glass fiber Market, By Application (Composites, Insulation, Others), By Geography (Asia-Pacific, North America, Europe, and rest of the world) - Analysis & Forecast to 2019’, is available here.
This story is reprinted from material from Micro Market Monitor, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
