Global Glass Fibers Market to Exceed 8.5 Million Tons by 2017, According to a New Report by Global I

.GIA announces the release of a comprehensive global report on the Glass Fibers markets. The global market for glass fibers is projected to exceed 8.5 million tons by the year 2017, driven by recovery in the global economy and improving prospects in various end-use markets, specifically construction and automotive. Technological advancements and material improvements, and enormous potential in Asia countries, particularly China and India, are likely to foster further growth in the glass fiber market.

San Jose, California (PRWEB) August 29, 2011

Glass fiber has contributed significantly to facilitating advancements in construction and automotive applications. The product’s versatile performance and low cost has made it a leading reinforcement fiber in the manufacture of plastic products. With the recession affecting all sectors of the industry, the demand for glass fiber witnessed a downward slide, particularly in North America and Europe. However, the industry is registering steady rise in demand as the global economy moves towards complete recovery. Asia-Pacific is the driving force for the glass fiber market, and is expected to benefit immensely from the construction boom in developing countries.

The United States, Europe and Asia-Pacific dominate the global glass fiber market, as stated by the new market research report on Glass Fibers. China has emerged as a force to reckon with in the global glass fiber industry, capturing more than 50% of the worldwide production capacity. An expanding domestic market and surging exports are contributing to robust growth of glass fiber market in China. While the rise in the domestic market has been driven by consistently high GDP growth during the last decade, the export market has surged due to lower prices of Chinese glass fiber as compared to the fiber produced in the developed countries such as the US and Europe.

Glass wool’s superior sound absorption and thermal conductivity properties allows its extensive use in the construction industry. The insulation-grade glass fiber or glass wool market is bolstered by the rapid growth in construction activities in developing regions, growing concerns about the environment and higher usage of insulation material per unit built area. The segment growth is largely attributed to the increasing demand for lightweight, durable and non-corrosive components. Government efforts to reduce energy consumption in the construction industry are expected to provide a fillip to the glass wool market. In addition to the construction sector, the segment is witnessing sustained demand from basic as well as high-tech industries such as electronics, automotive, construction, aircraft, and construction, among others.

Textile glass fibers are versatile, corrosion-resistant and low-cost materials that are used in both reinforced and non-reinforced applications. Expanding use of textile glass fibers in electronic and electrical, and telecommunication sectors offers growth opportunities for the glass fiber market participants. In the US, the demand for textile glass fibers is expected to grow at a steady rate led by emerging opportunities in the field of reinforced plastics, as well as asphalt construction products such as shingles. However, growth in the US market is limited due to the growing maturity of various end-use applications and the rising threat of low-cost imports from Asian countries specifically China.

Global glass fiber market is characterized by high degree of consolidation with the six leading players accounting for about 70% of the industry’s output. Competition is particularly tough in the glass wool insulation fiber segment owing to the products’ commodity characteristic and extremely limited scope of product differentiation. Select players profiled in the report include Advanced Glassfiber Yarns LLC, China Fiberglass Company Limited, Guardian Fiberglass Inc., Johns Manville Corporation, Knauf, Nippon Sheet Glass Co., Ltd., Owens Corning Inc., PPG Industries Inc., Taishan Fiberglass Inc., and Uralita Group.

The research report titled “Glass Fibers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a strategic review of the industry, key market trends, recent product launches, strategic corporate initiatives, and profiles of key market participants. The report provides annual sales estimates and projections by the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Key product segments analyzed include Glass Wool and Textile Glass Fiber. End-use segments analyzed include Glass Wool (Housing Construction, Commercial /Industrial/Infrastructural, Industrial/Commercial Equipment, and Others) and Textile Glass Fibers (Construction, Automotive, Industrial/Commercial Equipment, Marine, Consumer Goods, Paper & Fabrics, and Others).

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Glass_Fibers_Market_Report.asp

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.