Glass Fiber Market to Witness Almost 8% CAGR by 2024 due to High Demand in the Construction and Transportation Industry: Technavio

NEW YORK, May 5, 2021 /PRNewswire/ — 
The «Glass Fiber Market by Application and Geography…

NEW YORK, May 5, 2021 /PRNewswire/ — 

The «Glass Fiber Market by Application and Geography – Forecast and Analysis 2020-2024« report has been added to Technavio’s offering.

The glass fiber market is poised to grow by USD 5.4 billion between 2020-2024, progressing at a CAGR of almost 8% during the forecast period. 

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Glass fiber market will get immense growth opportunities from the factors such as the increasing demand for glass fibers in construction, rising demand for glass fibers in the transportation industry, and the increasing number of opportunities for textile glass fibers and glass fibers in the electronics sector. Moreover, with the shift in consumer behavior owing to the COVID-19 pandemic, the vendors are focusing on leveraging upcoming trends and drivers that have been identified and explored in this market analysis report.

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48% of the market’s growth will originate from APAC during the forecast period. China, the US, Germany, India, and Italy are the key markets for the glass fiber market in the region. 

Know About the Key Opportunities and Growth of Glass fiber Market in Diversified Metals and Mining Industry

https://www.technavio.com/report/glass-fiber-market-industry-analysis

The glass fiber market is segmented by application (Construction, Transportation, Consumer products, Wind turbines, and Others) and geography (APAC, Europe, North America, MEA, and South America).

The market structure is fragmented. The report also covers challenges and strategies to dodge them, which will help vendors in recreating their plan of action to obtain growth opportunities in the future.

Key Market Dynamics:

Market Driver

  • Increasing demand for glass fibers in construction
  • Rising demand for glass fibers in transportation industry
  • Increasing number of opportunities for textile glass fibers and glass fibers in electronics sector   

Market Challenges

  • Availability of substitutes
  • Health hazards associated with glass fibers
  • Disadvantages of glass fibers

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports. Register for a free trial today and gain instant access to 17,000+ market research reports. 

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Companies Mentioned

  • AGY Holding Corp.
  • Berkshire Hathaway Inc.
  • China Beihai Fiberglass Co. Ltd.
  • China Jushi Co. Ltd.
  • Compagnie de Saint-Gobain SA
  • LANXESS AG
  • Nippon Electric Glass Co. Ltd.
  • Owens Corning
  • PPG Industries Inc.
  • Taishan Fiberglass Inc.

Related Reports on Materials Industry Include:

Glass Packaging Market by Application and Geography – Forecast and Analysis 2021-2025: The glass packaging market size has the potential to grow by USD 12.36 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 3.70%. To get extensive research insights: Download Our Exclusive Sample Report

Engineering Plastics Market by Type and Geography – Forecast and Analysis 2020-2024: The engineering plastics market size has the potential to grow by USD 43.00 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. To get extensive research insights: Download Our Exclusive Sample Report

Key Topics Covered:

  • Executive Summary
  • Market Landscape
  • Market Sizing
  • Five Forces Analysis
  • Market Segmentation by Application
  • Customer landscape
  • Geographic Landscape
  • Vendor Landscape
  • Vendor Analysis
  • Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Website: www.technavio.com/

Report: https://www.technavio.com/report/glass-fiber-market-industry-analysis

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SOURCE Technavio