Woven Fiberglass roving have excellent ability to quickly add thickness and bulk coupled with the lightweight relative to other composite materials.
Increasing adoption from various end-use industries such as wind energy, pipes and tanks, and electrical and electronics is major factor expected to propel growth of the global fiberglass roving market over the forecast period. In addition, growing demand from construction and infrastructure sectors owing to increasing use in various applications is another factor expected to boost growth of the market in near future.
However, issues associated with the process of recycling is factor expected to hamper growth of the target market over the forecast period.
The global fiberglass roving market has been segmented on basis of product type, end-use industry, glass fiber type, and region. On the basis of product type, the target market is segmented into single-end roving, multi-end roving, and chopped roving. Single-end roving segment dominates the global market in terms of revenue and is expected to maintain its dominance over the forecast period, owing to increasing demand from the filament winding and pultrusion applications.
On the basis of glass fiber type global fiberglass roving market is segmented into e-glass, ecr-glass, h-glass, ar-glass, s-glass, and others. On the basis of end-use industry global fiberglass roving market is segmented into transportation, construction & infrastructure, electrical & electronics, pipes & tanks, marine, aerospace & defense, wind energy, and others.
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Based upon region global fiberglass roving market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East Africa. The market in Asia Pacific is estimated to account for highest share in terms of revenue over the forecast period. Increasing adoption of fiberglass roving, owing to increasing use of environmentally-friendly products in various end use industry is factor expected to drive growth of market in the region. The markets in Europe is expected to register significant growth in terms of revenue, owing to growing demand from various sectors such as wind energy, pipes and tanks, and electrical and electronics in the region over the forecast period.
Key players operating in the global fiberglass roving market include Owens Corning, Jushi Group Co., Ltd., Chongqing Polycomp International Corporation, and Johns Manville Corporation.