The rapid urbanization is resulting in the increased development of infrastructure, thereby resulting in increased demand for fiberglass roving.
The global fiberglass roving market size is projected to reach nearly USD 8.1 billion in 2020. During the forecast period, the fiberglass roving market is expected to grow at a CAGR of 5.5 percent (2021 - 2028). Multiple end-user industries prefer fiberglass roving products because they can significantly reduce product weight while also being stronger than other metallic parts used. The market is expected to expand further due to increased demand from wind energy projects, pipes and tanks, and construction and infrastructure projects.
E-glass fiberglass roving is cost-effective and has a variety of properties, including lightweight, corrosion resistance, high electrical insulation, and strength. The market is also expected to be driven by rising demand from the transportation and electrical and electronics industries.
Fiberglass is regarded as the foundation of the composites industry. It has been used in a variety of composites applications for decades, and its physical properties are well understood in the industry. Aside from being lightweight, it also has a moderate tensile strength and is easier to work with. Fiberglass has been used in numerous projects. When compared to steel, the glass filament has a higher specific resistance. This property is one of the primary reasons for the growing demand for glass strand in the manufacture of high-performance composites. Glass filament is also used in a wide range of applications due to its properties such as electrical insulation, even at low thickness, mechanical strength, and temperature behavior.
The study also assesses the demand using value chain analysis to highlight the different characteristics of the global fiberglass roving industry. Furthermore, the fiberglass roving market report covers various qualitative aspects of the industry, such as market restraints, key industry drivers, and opportunities. In addition, the report offers a comprehensive analysis of the competition by company profiles and the competitiveness of local and global vendors.
Furthermore, as a result of the recent coronavirus outbreak, manufacturing operations in the industry have taken a significant hit as a result of the nationwide lockdown in multiple regions. However, as the units begin to operate, market vendors are contributing to the virus outbreak. For example, the Johns Manville plant in Richland, Mississippi, began producing non-woven filtration media in April 2020, which will be used to make the much-needed face masks to help stop the spread of COVID-19.
Key Segments of the Global Fiberglass Roving Market
Fiberglass Type Overview, 2018-2028 (USD Billion)
Product Type Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America