Publish Time: 2021-04-16 Origin: Site
Factors such as extensive use of fiberglass in the construction & infrastructure industry and the increased use of fiberglass composites in the automotive industry are driving the growth of fiberglass market.
Towards the end of the period of 220-2025, the direct and assembled roving is projected to lead the global fiberglass market. . The rising demand for direct and assembled roving from the construction, infrastructure, and wind energy sectors is expected to drive this segment during the forecast period.
The composites application segment is projected to lead the fiberglass market in terms of both value and volume during the forecast period.
Based on application, the composites application segment is projected to lead the fiberglass market during the forecast period in terms of both, value and volume. The growth of this segment can be attributed to the demand from wind turbine blade manufacturers.
The fiberglass market in Asia Pacific is projected to grow at the highest CAGR in terms of both, value and volume during the forecast period.
The fiberglass market in Asia Pacific is projected to grow at the highest CAGR in terms of both, value and volume from 2020 to 2025. China, India, and Japan are key countries contributing to the increased demand for fiberglass in this region. Factors such as increasing construction and industrial activities in the Asia Pacific region have increased the demand for fiberglass in this region. The growth of the automotive industry is driving the fiberglass market in this region.