The global market of glass fiber reinforced materials is expected to grow from $92.174.7 billion in 2016 to 161.4384 billion in 2023, with an average annual compound growth rate of 8.3 percent. The main factors contributing to the growth of the market are the rise of the construction industry, the increasing concern for green buildings and the growth of the demand for value-added glass fiber products. In addition, the rising energy costs and strict government regulations are also affecting market growth. On the other hand, the recycling of glass fiber reinforced materials poses a great challenge to the market.
In the forecast period, the compound annual growth rate of untwisted roving will be higher than expected in all products. It is due to the increase of the amount of roving in the tank, pipeline and other structural composites. High growth is expected in the Asia-pacific region due to the increasing infrastructure activity, increasing demand in the auto sector and increasing demand of China.
Glass fiber reinforced material product type of Global market includes:
Chopped strand, Chopped strand mat (CSM), Continuous Fiberglass mat (CFM), Untwisted roving, Untwisted roving Cloth, fiber glass fabric, and so on.
End-users include:
Aerospace & Defense, Electronics, Consumer, Architecture, Wind Energy, Ocean, Industry, Automobile & Transportation, and so on.
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