Global Fiberglass Roving Market Growth Overview For 2024-2033

The Business Research Company's Fiberglass Roving Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 2, 2024 /EINPresswire.com/ -- The global fiberglass roving market, driven by increasing applications across various industries, is expected to grow from $8.8 billion in 2023 to $9.59 billion in 2024, at a CAGR of 9.0%. This robust growth is attributed to factors such as construction and infrastructure development, automotive industry demand, the widespread use of wind energy, boat and marine manufacturing, and growth in aerospace applications. By 2028, the market is projected to reach $13.05 billion, growing at a CAGR of 8.0%.

Growing Demand from Wind Energy Sector Propels Market Growth
The increasing demand from the wind energy sector is a significant factor driving the fiberglass roving market forward. Fiberglass roving is crucial in the production of larger wind turbine blades, enhancing the energy output of turbines. It is extensively used in making nacelles and wind turbine blades. According to the International Energy Agency, wind energy production increased by 273 TWh in 2021, with wind remaining the leading non-hydro renewable technology. This growing demand underscores the importance of fiberglass roving in the wind energy sector.

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Key Players and Market Trends
Major companies in the fiberglass roving market include Saertex GmbH, Saint-Gobain S.A., PPG Industries Inc., Owens Corning, China Jushi Co. Ltd., Nippon Electric Glass Co. Ltd., and Taiwan Glass Ind. Corp. These companies are focused on technological innovations in manufacturing processes, such as Interwet-LFI technology, to strengthen their market position. For instance, Cannon Plas Tec's launch of Interwet-LFI technology enhances the structure of polymer components, making them stiffer, stronger, and more durable.

Segments:
•Product Type: Single-End Roving, Multi-End Roving, Chopped Roving
•Fiberglass Type: E-glass, ECR-glass, H-glass, AR-glass, S-glass
•Application: Electrical And Electronics, Transportation, Construction And Infrastructure, Pipes And Tanks, Energy, Other Applications

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the fiberglass roving market in 2023 and is expected to continue leading. The report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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Fiberglass Roving Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Fiberglass Roving Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on fiberglass roving market size, fiberglass roving market drivers and trends, fiberglass roving market major players, competitors' revenues, market positioning, and market growth across geographies. The fiberglass roving market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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