(EMAILWIRE.COM, March 24, 2023 ) The report "Glass Fiber Yarn Market by Fiber Type (E-glass type, S-glass type), Yarn Type (Single Yarn, Piled yarn), Application (PCB, Façade, Marble & Mosaic Tiles, Structural parts), End-use Industry and Region - Global Forecast to 2027", is estimated to be USD 2.5 billion in 2022 and is projected to reach USD 3.5 billion by 2027, at a CAGR of 6.5% between 2022 and 2027. The major drivers for the glass fiber yarn market include increasing consumption of glass fiber yarns in automotive and marine applications, extensive use of glass fiber yarn in construction industry, and increasing demand for PCBs made from glass fiber fabrics. Issues associated with glass fiber yarn recycling, and high production cost of glass fiber yarn can restrain the market from growing. Some of the opportunities for manufacturers include increasing demand for power generation from renewable sources, Increasing demand for glass fiber yarn in Middle East & Africa for construction and infrastructure, and increasing demand from wind energy sector in US. The major challenge faced by the manufacturers is capital-intensive production and complex manufacturing process of glass fiber yarn.

The glass fiber yarn market is segmented into five major regions, namely, Asia Pacific, Europe, North America, South America, and the Middle East & Africa. Asia Pacific is the largest market for glass fiber yarn market, followed by North America and Europe. The market in Asia Pacific is driven by the high economic growth rate, followed by heavy investments in energy, infrastructure, and automotive industries. Another factor impacting the glass fiber yarn market is the increasing population in Asian countries such as China and India. The region accounts for almost one-third of the global GDP measured in terms of purchasing power parity (PPP). Various companies are shifting their production units to the region because of the low cost of production and proximity to emerging markets such as India, Thailand, Indonesia, and Malaysia.

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Electrical & electronics industry is expected to account for the largest market share in glass fiber yarn market during the forecast period.

In terms of value, the electrical & electronics segment is the dominant end user of glass fiber yarn with a market size of USD 645.46 million in 2021. The rising demand for insulation products in countries such as China, India, and Brazil is driving the market.

In this section, the glass fiber yarn market is analyzed based on various end-use industries, such as electrical & electronics, automotive & transportation, wind energy, building & construction, and marine, among others.

Weight reduction, increased processing speed encourage glass fiber yarn adoption to boost glass fiber yarn market

Glass fiber yarn is increasingly utilized in the development of automobiles, owing to its exceptional properties, such as high tensile strength, thermal insulation, and affordable cost. Several automobile manufacturers and glass fiber yarn producers are venturing into the mass production of glass fiber yarn automotive panels. Automotive manufacturers are adopting glass fiber as a substitute for metals in the production of exterior panels and vehicle interiors. Further, glass fiber yarn is being used in rubber drive belts, clutch discs & brake pads, headliners, and for automotive insulation, among others.

APAC is expected to account for the largest market share in the glass fiber yarn market during the forecast period.

Asia Pacific is the largest market for glass fiber yarn. In this report, the Asia Pacific region is segmented into China, Japan, India, South Korea, and the Rest of Asia Pacific (Vietnam, Taiwan, Indonesia, Bangladesh, Singapore, and Malaysia). The Asia Pacific market for glass fiber yarn is driven by the rising income level of the middle-class population and increasing government investments, especially in the building & construction and automobile sectors.

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Browse in-depth TOC on "Glass Fiber Yarn Market”

180 - Market Data Tables

56 - Figures

221 - Pages

The key players in the global glass fiber yarn market are Owens Corning (US), Jushi Group Co., Ltd., Chongqing Polycomp International Corporation, Saint-Gobain S.A., Nippon Electric Glass Co. Ltd., AGY Holdings Corp., China Beihai Fiberglass Co., Ltd., Taiwan Glass Industry Corp., Nitto Boseki Co. Ltd. (Japan), PFG Fiber Glass Corp. (Taiwan).

Owens Corning is a major player manufacturing and supplying glass fiber composites. The company operates its business through three segments, Insulation, Roofing, and Composites. It offers glass fiber yarn under the Insulation and Composites segments. It offers yarns for construction, wind energy, industrial, transportation, consumer goods, aerospace & defense industries for their lightweight, strong, and durable properties. It has plants, technical centers, and sales offices in 29 countries in North America, Asia Pacific, Europe, and other regions.

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