Global Glass and Specialty Synthetic Fiber Market – Industry Trends and Forecast to 2029

Glass and Specialty Synthetic Fiber Market Analysis and Size

The growing demand for high-strength composite and lightweight materials are expected to drive the growth of the glass and specialized synthetic fibers significantly. Glass fibers with high strength-to-weight ratios are anticipated to drive the market demand throughout the forecast period of 2022-2029. The “glass fiber” is the fastest growing type segment due to their cost effective nature and exceptional mechanical and physical features such as strength, stability and lightweight over the forecast period. Moreover, consumer-friendly properties of the material such as waterproofing are expected to drive the the growth of the glass fibers and specialty fibers market. Glass fibers and specialty synthetic fibers are projected to outperform traditional materials in terms of mechanical properties throughout the forecast period.

Data Bridge Market Research analyses that the glass and specialty synthetic fiber market is expected to undergo a CAGR of 6.43% during the forecast period. This indicates that the market value, which was USD 74.65 billion in 2021, would rocket up to USD 122.90 billion by 2029.  In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Glass and Specialty Synthetic Fiber Market Scope and Segmentation

Market Definition

Glass fibre is a different type of synthetic fibre, also known as fibre glass. It is a material which consist of various fine fibres of glass. The versatility of this glass as a fibre makes it different material for several industries. Glass and specialty synthetic fiber are widely used as reinforcement for plastics materials to upsurge the tensile strength, impact resistance, dimensional stability, heat, flex modulus, creep resistance and chemical resistance.

Glass and Specialty Synthetic Fiber Market Dynamics

Drivers

• Increasing demand  of glass and specialty synthetic fiber in construction sector

Rapidly growing construction activities have augmented the government's focus for developing commercial infrastructure, including smart cities. The growing construction industry has increased the demand for unique materials in the construction sector, including glass and specialty synthetic fiber. This is the major reason expected to drive the growth rate of the glass and specialty synthetic fiber market during the forecast period.

• Growing demand of glass and specialty synthetic fiber in various industries

Several industries such as aerospace, transportation, marine and automotive are also expected to drive the growth rate of the glass fibers and specialty synthetic fibers over the forecast period. The rising demand for optical fiber cables and growth of the electronic industry is expected to boost the demand of the glass and specialty synthetic fibers.

• Rising demand of glass and specialty synthetic fiber in defence and aerospace sector

The demand of the glass and specialty synthetic fiber from defence and the aerospace sector increases over the forecast period. Glass and specialty synthetic fiber is used in the production of aerospace equipment because these equipment require ultra-edge composites which can sustain the product, all these factors will be the reason of excellent revenue in the glass and specialty synthetic fiber market. 

Opportunities

• Innovative application of glass and specialty synthetic fiber

Various innovative applications of glass and synthetic fibers such as usage in battery separators, adding metallic properties in cloth and in the process of filtration will create immense opportunities for the growth of the glass and specialty fibers market in upcoming years. Increasing usage of these adding metallic properties in cloth materials for ballistic equipment manufacturing is anticipated to augment the demand for the glass and synthetic fibers in the market.

Furthermore, rising demand for glass fiber pipes in growing economies and increasing demand of glass fibers from the infrastructure and construction industry will develop immense opportunities to grow the glass and specialty synthetic fiber market.

Restraints/Challenges

• High cost of raw materials

The demand of the glass and synthetic fibers may be restrained by increasing the cost of raw materials. These fibers are more expensive than other fibers, restraining the demand from the consumer’s perspective and obstructing the growth rate of glass and synthetic fibers laminated glass market.

Moreover, the properties such as highly combustible, less resistance to heat, not skin-friendly can be expected to hinder the growth of the market. Non-biodegradable nature of these fibers is also anticipated to pose a challenge in front of the market. 

This glass and specialty synthetic fiber market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the glass and specialty synthetic fiber market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Glass and Specialty Synthetic Fiber Market

The Covid-19 pandemic was started from china after that it spread overall the world. Now it has become a global emergency. The governments have imposed stringent rule and regulations, including shutdown, lockdown and social distancing rules during this pandemic. The glass and specialty synthetic fiber market also affected by this lockdown because the production works are at a halt. Lack of production has affected the supply and demand chain of the glass and specialty synthetic fiber. The construction industries are the main consumer of glass and specialty synthetic fiber. Due to this pandemic, the construction works are on pause, which has negatively affected the demand for the glass and specialty synthetic fiber. Furthermore, the major market players of the glass and specialty synthetic fiber are trying their best to increase the growth of the market and is anticipated to witness the high demand after the post-covid condition.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In July 2019, Teijin has signed a contract with AEV Robotics (Australia) to develop the lightweight automotive solutions for the upcoming transportation. These automotive solutions would use Teijin's high-performance aramid and carbon fibers.
• In November 2019, Honeywell International, Inc. has increased the manufacturing capacity of its Spectra fiber P.E. to fulfil the demand of defence sector for lightweight and high-performing armors.

Global Glass and Specialty Synthetic Fiber Market Scope

The glass and specialty synthetic fiber market is segmented on the basis of type, application and end-use industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Glass Fiber
• Specialty Synthetic Fibers
• Uhmwpe Fiber
• PPS Fiber
• Others

 Application

• Composite
• Non-Composite

End-Use Industry

• Aerospace and Defence
• Wind Energy
• Automotive and Transportation
• Construction and Infrastructure
• Marine
• Pipes and Tanks
• Electrical and Electronics
• Protective Clothing
• Others

Glass and Specialty Synthetic Fiber Market Regional Analysis/Insights

The glass and specialty synthetic fiber market is analysed and market size insights and trends are provided by country, type, application and end-use industry as referenced above.

The countries covered in the glass and specialty synthetic fiber  market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the glass and specialty synthetic fiber market due to growing economies of India and China, presence of major market players and increasing transportation, wind energy construction and infrastructure industries in this region.

Europe will continue to project the highest compound annual growth rate during the forecast period of 2022-2029 due to the increasing automotive and aviation and defence industries in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Glass and Specialty Synthetic Fiber Market Share Analysis

The glass and specialty synthetic fiber  market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to glass and specialty synthetic fiber market.

Some of the major players operating in the glass and specialty synthetic fiber market are:

• Owens Corning (U.S.)
• Honeywell International Inc, (U.S.)
• SOLVAY (Belgium)
• Hexcel Corporation (U.S.)
• Toray Advanced Composites (Netherlands)
• Mitsubishi Chemical Corporation. (Japan)
• DSM (Netherlands)
• Huntsman International LLC. (U.S.)
• Toyobo Co. Ltd. (Japan)
• BASF SE (Germany)
• Jushi Group Co., Ltd (China)
• SGL Carbon (Germany)
• Arkema (France)
• Asahi Kasei Corporation (Japan)
• Advantix. (U.S.)
• INVISTA (U.S.)
• Toray Industries, Inc. (Japan)
• Ascend Performance Materials LLC (U.S.)
• Goodfellow (India),

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