Glass Fibers Market Share, Trends and Forecast 2027
Glass Fibers Market: Key Highlights
A recent research report published by Transparency Market Research projects the
global glass fibers market to expand at a CAGR of 7.8% during the period
between 2019 and 2027. The report, titled “Glass Fibers Market – Global Industry
Analysis, Size, Share, Growth, Trends and Forecast, 2019 – 2027,” estimates the global
market to reach US$ 22.32 Bn by 2027, from US$ 11.35 bn in 2018.
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Rising Application Scope of Glass Fiber to Provide Lucrative Opportunity
The potential for the global glass fibers market lies in the expanded application extent of
fiber glass. They are broadly utilized as a part of the automotive industry in new parts as
they prompt lower tooling cost when contrasted with customary materials, for example,
metals. Also, the material is utilized as a part of an assortment of other application
industry, for example, hardware, aviation, energy and purchaser industry. Different
substantial organizations are reliably enhancing new products which would build the
application extent of glass fibers.
Furthermore, the expanded spotlight on energy preservation in the construction industry,
has prompted higher accentuation on usage of glass fibers as they give unrivaled
protection properties at an ostensible cost. These are key factors which could prompt
sellers profiting by the market opportunity, energizing market growth.
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Segmental Outlook: Global Glass Fibers Market
The application segment of building and construction will largely contribute to the rise of
the global glass fibers market over the forecast period.