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Fiberglass Roving Market Size (2024 - 2029)

The fiberglass roving market is anticipated to experience growth due to its increasing adoption across various industries, driven by its lightweight and strong properties compared to traditional metallic components. The market size is influenced by the rising demand from sectors such as wind energy, construction, and transportation, where fiberglass roving's cost-efficiency and beneficial characteristics like corrosion resistance and high electrical insulation are highly valued. Despite disruptions caused by the coronavirus pandemic, the market is recovering as manufacturing activities resume, contributing to the overall expansion of the fiberglass roving market.

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Market Size of Fiberglass Roving Industry

Fiberglass Roving
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 5.50 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

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*Disclaimer: Major Players sorted in no particular order

Fiberglass Roving Market Analysis

The fiberglass roving market is expected to register a CAGR of 5.5% during the forecast period (2021 - 2026). Multiple end-user industries are preferring the fiberglass roving products as they can significantly reduce the weight of the product and are also stronger than the other metallic parts being used. The market is expected to witness further growth primarily owing to the increasing demand from wind energy projects, pipes and tanks, and construction and infrastructure projects.

  • The fiberglass roving that is made with E-glass is cost-efficient and also offers multiple properties such as lightweight, corrosion resistance, high electrical insulation, and strength. The increasing demand from the transportation and electrical & electronics industries is also expected to drive the market.
  • The fiberglass is considered to be the foundation of the composites industry. From multiple decades it is being used in multiple composites applications, and its physical properties are also pretty well understood in the industry. Apart from being lightweight, it has moderate tensile strength and is easier to handle. Fiberglass has been used in a wide range of projects.
  • The glass filament offers a greater specific resistance as compared to steel. This characteristic is one of the primary reason for the increasing demand for glass strand in the production of high-performance composites. Glass filament is also being used in a wide variety of applications owing to its properties such as electrical insulation, even at low thickness, combined with its mechanical strength and behavior in different temperatures.
  • Moreover, owing to the recent coronavirus outbreak, manufacturing operations have been hit significantly in the industry due to the nationwide lockdown in multiple regions. However, as the units are starting their operations, vendors in the market are contributing to this virus outbreak. For instance, in Apr 2020, the Johns Manville plant in Richland, Mississippi, started producing non-woven filtration media that will be used to create the much-needed face masks to help stop the spread of COVID-19.

Fiberglass Roving Industry Segmentation

The fiberglass roving product is made up of hundreds of tiny glass filaments. The roving is being reinforced with a chemical bonding material to create a protected cohesive strand. The term roving primarily refers to the actual process of bundling such materials together or the finished roll of strands.

By Type
E-glass
H-glass
ECR-glass
S-glass
Other Types
By End-user Industry
Construction and Infrastructure
Transportation
Electrical and Electronics
Pipes and Tanks
Energy
Other End-user Industries
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Latin America
Middle East & Africa
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Fiberglass Roving Market Size Summary

The fiberglass roving market is poised for significant growth, driven by its increasing adoption across various end-user industries. This growth is largely attributed to the material's advantageous properties, such as being lightweight, corrosion-resistant, and offering high electrical insulation and strength, making it a preferred choice over traditional metallic components. The market is experiencing heightened demand from sectors like wind energy, construction, and infrastructure, as well as transportation and electrical and electronics industries. The versatility of fiberglass roving, particularly E-glass, positions it as a foundational element in the composites industry, with its physical properties well-understood and valued in numerous applications. Despite challenges posed by the COVID-19 pandemic, the industry has shown resilience, with manufacturers pivoting to produce essential goods like filtration media.

Regionally, the Asia-Pacific stands out as a major consumer of fiberglass roving, with countries such as China, India, and Japan leading the charge due to burgeoning wind energy projects and infrastructure development. The region's market is expected to grow robustly, fueled by a demand for eco-friendly products and stringent emission control policies. The construction and infrastructure boom, alongside the high rate of automotive production, further propels the market's expansion. The competitive landscape is characterized by the presence of key players like Owens Corning, Nippon Electric Glass, and Saint-Gobain SA, who are actively engaging in strategic initiatives such as mergers and acquisitions to enhance their product offerings and market presence.

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Fiberglass Roving Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Growing Demand From the Energy & Infrastructure Domain

      2. 1.2.2 Anticipated Growth in Adoption From GFRP Pipes Applications

    3. 1.3 Market Restraints

      1. 1.3.1 Recycling Concerns and Dependence on End-user Uptake

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 E-glass

      2. 2.1.2 H-glass

      3. 2.1.3 ECR-glass

      4. 2.1.4 S-glass

      5. 2.1.5 Other Types

    2. 2.2 By End-user Industry

      1. 2.2.1 Construction and Infrastructure

      2. 2.2.2 Transportation

      3. 2.2.3 Electrical and Electronics

      4. 2.2.4 Pipes and Tanks

      5. 2.2.5 Energy

      6. 2.2.6 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 United Kingdom

        2. 2.3.2.2 Germany

        3. 2.3.2.3 France

        4. 2.3.2.4 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 Japan

        4. 2.3.3.4 Rest of Asia-Pacific

      4. 2.3.4 Latin America

      5. 2.3.5 Middle East & Africa

Fiberglass Roving Market Size FAQs

The Fiberglass Roving Market is projected to register a CAGR of 5.5% during the forecast period (2024-2029)

Owens Corning, Nippon Electric Glass, Saint-Gobain S.A., Taiwan Glass Industry Corporation and PFG Fiberglass Corporation are the major companies operating in the Fiberglass Roving Market.

Fiberglass Roving Market Report Snapshots

Fiberglass Roving Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)