Asia Pacific Glass Fiber Market Size and Competitive Analysis by 2027

The APAC glass fiber market is expected to grow from US$ 7,183.72 million in 2020 to US$ 9,819.62 million by 2027; it is estimated to grow at a CAGR of 4.6% from 2020 to 2027.

Australia, China, India, Japan, and South Korea are major economies in APAC region. Burgeoning development of advanced glass fibers for the wind energy is expected to drive the market growth. The demand for renewable energy sources is increasing due to decline in global fossil fuel capacity. Wind energy is one of the most important renewable energy sources. Increase in use of renewable energy sources has led to a surge in demand for wind farms, with large tracts of land and coastal areas devoted to the installation and operation of wind turbines. The companies operating in the market have discovered that the longer the blades are on a turbine, the more energy can be generated, and thus, the wind turbine manufacturers strive to produce more efficient and longer blades. Advanced composite materials such as E-Glass and S+R Glass are a growing part of the construction of wind turbines, specifically the blades. Low density, excellent corrosion resistance, good mechanical properties, tailorability of material properties, and versatility of fabrication methods have made them suitable for wind turbine rotor blades. They show higher stiffness and provide high strike resistance, compressive strength, and ultimate strain, resulting into thinner, stiffer, and lighter blades. The high stiffness of glass fiber reduces blade deflection, allowing a larger tower diameter for a given blade-to-tower clearance. Glass fiber composites are used in the nacelle, which is the most important component of wind turbine. Since one type of fiber does not have all the desired properties, turbine manufacturers are innovating new and improved composites for turbines. For example, glass/carbon hybrid composite. Such composites can provide the required strength and stiffness with improved impact resistance while keeping the weight less and cost down. Thereby, driving the APAC glass fiber market in coming years.

In case of COVID-19, APAC is highly affected specially India. The COVID-19 is anticipated to cause a significant economic loss in the APAC region. The consequence and impact can be even worse and totally depends on the spread of the virus. The governments of various APAC countries are taking possible steps to restrict the spread of the virus by announcing lockdown, which in turn has negatively impacted the revenue generated by the market. The Government have asked the chemical & materials manufacturers to delay their production which will adversely affect the global supply of glass fiber. Furthermore, travel bans imposed by countries in APAC region are affecting opportunities for business collaborations and partnerships. All of these factors are expected to have a negative impact on the chemical and materials industry, acting as a stifling factor for the growth of various markets related to this industry in the coming months.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC glass fiber market. The APAC glass fiber market is expected to grow at a good CAGR during the forecast period.

APAC Glass Fiber Market Segmentation
APAC Glass Fiber Market – By Fiber Type

• E/ECR-Glass Fiber
• S-Glass Fiber
• C-Glass Fiber
• Others

APAC Glass Fiber Market – By Product Type

• Single-End Roving
• Multi-End Roving
• Woven Roving
• Others

APAC Glass Fiber Market – By Application

• Marine
• Transportation
• Aerospace
• Construction
• Electrical and Electronics
• Consumer Goods
• Others

APAC Glass Fiber Market – By Manufacturing Process

• Hand Lay Up
• Spray Up
• Prepreg Lay Up
• Injection Molding
• Compression Molding
• Resin Infusion
• Others

APAC Glass Fiber Market, by Country

• Australia
• China
• India          
• Japan
• South Korea
• Rest of APAC      

APAC Glass Fiber Market -Companies Mentioned

• China Jushi Co., Ltd.
• Chongqing Polycomp International Corp. (CPIC)
• Goa Glass Fibre Limited
• Johns Manville
• Nippon Electric Glass Co.,Ltd.
• Owens Corning
• SAINT GOBAIN S.A.
• Sichuan Weibo New Material Group Co., Ltd. 
• Taishan Fiberglass Inc. (CTG)
• Taiwan Glass Group 

Asia Pacific Glass Fiber Report Scope