2014-03-13 03:57:01 - Textile Glass Fibers: A Global Strategic Business Report - a new market research report on companiesandmarkets.com
The global Textile Glass Fibers market is projected to reach 4.5 million tons by the year 2018, driven by the demand trends in major end-use markets of construction, automotive, and industrial/commercial equipment, among others.
Global market for textile glass fibers, which primarily finds use in reinforcement of plastics and composites as well as in non-reinforced applications, is significantly influenced by the demand trends in major end-use markets of construction, automotive, industrial/commercial equipment, marine, consumer goods, and paper & fabrics, among others. Over the years, the use of textile grade glass fibers has gained momentum driven by the rapid strides made by glass fiber reinforced plastics. Though market growth fell drastically during 2008 and 2009 due to the economic downturn, the year
2010 was witness to a marginal recovery led by improving macroeconomic indicators, and subsequent improvement in spending power of end-users. However, the market slowed down in 2012 as the global economic activity remained flat in view of the sluggish pace of recovery, uncertainty created by the Eurozone crisis, and the below par demand from emerging economies, the impact of which was felt on key end-use markets including construction.
The United States represents the largest market for textile glass fibers, with growth largely driven by the increasing use of textile glass fibers in reinforced plastics. In the coming years, demand is expected to emerge from the rapid strides being made in the regions marine industry, and through its increased use asphalt construction products such as shingles. The market, however, is likely to be affected by the increasingly mature conditions in few end-use markets, such as paper products and mechanical rubber applications, and the rising low cost imports from Asia-Pacific countries.
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