Others Segment to Dominate Europe Glass Fiber Market During 2020–2027
According to The Insight Partners market research study on “Europe Glass Fiber Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Fiber Type, Product Type, Application, and Manufacturing Process,” is expected to reach US$ 2,340.84 million by 2027 from US$ 1,812.40 million in 2020. The market is estimated to grow at a CAGR of 3.7% from 2020 to 2027. The report provides trends prevailing in the Europe glass fiber market along with the drivers and restraints pertaining to the market growth. Increasing demand of fiberglass composites from the automotive industry and rising demand of glass fibers from construction industry are the major factor driving the growth of the Europe glass fiber market. However, availability of carbon fiber and mineral wool hinders the growth of Europe glass fiber market.
In case of COVID-19, Europe is highly Affected Specially Russia which has recorded the highest number of COVID cases. Other than this, France, UK, Italy, Spain and Germany have also been hit hard and are expected to suffer an economic hit due to a lack of revenue from various industries. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The European chemical and materials industry is one of the major industries that is suffering serious disruptions such as supply chain breaks, technology events cancellations, office shutdowns etc. because of this outbreak.
Europe glass fiber market is segmented based on fiber type, product type, application, manufacturing process, and country. Based on different fiber type used in the manufacturing of glass fibers, the market is segmented into e/ecr-glass fiber, s-glass fiber, c-glass fiber, and others. The e/ecr-glass fiber segment dominate the Europe glass fiber market in 2019 and is also expected to be fastest growing during forecast period. Based on product type, the market has been segmented into single-end roving, multi-end roving, woven roving, and others. The others segment dominated the Europe glass fiber market in 2019 and is also expected to be fastest growing during forecast period. Based on application, market has been segmented into the marine, transportation, aerospace, construction, electrical and electronics, consumer goods, and others. The transportation segment dominated the Europe glass fiber market in 2019 and is also expected to be fastest growing during forecast period. By manufacturing process, market is segmented into hand lay up, spray up, prepreg lay up, injection molding, compression molding, resin infusion, and others. The compression molding segment dominated the Europe glass fiber market in 2019 and resin infusion segment is expected to be fastest growing during forecast period.
China Jushi Co., Ltd.; Chongqing Polycomp International Corp. (CPIC); Johns Manville; Nippon Electric Glass Co.,Ltd.; Owens Corning; SAINT GOBAIN S.A.; and Taishan Fiberglass Inc. (CTG) are among the leading companies in the Europe glass fiber market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Jushi has launched E9 ultra-high-modulus glass fiber for the promotion of the development of lightweight wind turbine blades. Besides, Jushi's glass fiber intelligent manufacturing has been regularly promoted in the three major east, middle and west bases.
The Report Segments the Europe Glass Fiber Market as Follows:
Europe Glass Fiber Market – By Fiber Type
- E/ECR-Glass Fiber
- S-Glass Fiber
- C-Glass Fiber
- Others
Europe Glass Fiber Market – By Product Type
- Single-End Roving
- Multi-End Roving
- Woven Roving
- Others
Europe Glass Fiber Market – By Application
- Marine
- Transportation
- Aerospace
- Construction
- Electrical and Electronics
- Consumer Goods
- Others
Europe Glass Fiber Market – By Manufacturing Process
- Hand Lay Up
- Spray Up
- Prepreg Lay Up
- Injection Molding
- Compression Molding
- Resin Infusion
- Others
Europe Glass Fiber Market – By Country
- Germany
- France
- Italy
- UK
- Rest of Europe
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