Opportunities for the European glass fiber market to reach $2.1 billion by 2023

According to a new market report published by Lucintel, the future of the European glass fiber market is promising with opportunities in the transportation, construction, electrical and electronics, pipe and tank, wind energy, and consumer goods industries. The European glass fiber market is expected to reach an estimated $2.1 billion by 2023 with a CAGR of 2.8% from 2018 to 2023. The major growth driver for this market is rise in demand for products made of glass composites; these include pipes, tanks, wind blades, bathtubs, and automotive parts.

In this market, E (ECR) glass, S glass, C glass, and D glass are the type of glass fiber utilized to manufacture composite parts for different end use industries. On the basis of its comprehensive research, Lucintel forecasts that E (ECR) glass is expected to be the largest product type of glass fiber by value and volume over the forecast period.

Within the European glass fiber market, transportation is expected to remain the largest and witness the highest growth market by value and volume consumption. Government regulations, such as carbon emission targets in Europe, are putting pressure on OEMs to incorporate lightweight materials to curb the overall vehicle weight, and this is the key driver for glass fiber in the transportation industry.

By manufacturing process, injection molding is the major process utilized to manufacture glass composite parts because of high-output production rate, low labor cost, and design flexibility.

By product form, multi-end roving is the major product form of glass fiber used to manufacture composite industry parts. Multi-end roving fiber is commonly used in transportation, construction, and marine end use applications.

In terms of supply, the European glass fiber capacity was ~1.9 billion pound in 2017.Lucintel predicts that the glass fiber plant capacity utilization will go down in 2018 as glass fiber suppliers increase production capacity.  For example, in 2018, Owens Corning plans to build additional capacity in France, and Şişecam Group is installing a new plant in Turkey.   

Emerging trends, which have a direct impact on the dynamics of the industry, include cost optimization and performance enhancement of glass fibers.  Owens Corning, Johns Manville, 3B glass fiber, Nippon Electric Glass and Lanxess are among the major manufacturers of the European glass fiber market.

The European glass fiber producers experiencing an increase in their market share after anti-dumping duty imposed on Chinese glass fiber manufacturers in 2014 by European commission.  After review in 2017, European commission has converted the provisional anti-dumping measures into definitive duties- ranging from 4.9 % to 30%, depending on the producer.  

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global glass fiber market by application, product type, manufacturing process, country, and region, and has come up with a comprehensive research report, “Growth Opportunities in the European Glass Fiber Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions.

The study includes a forecast for the global glass fiber market by product type, application, and region, as follows:

By Application Type (million pounds and $ million shipment analysis from 2012 to 2023):

•          Transportation
•          Construction
•          Electrical and Electronics
•          Pipe & Tank
•          Wind Energy
•          Consumer Goods
•          Marine
•          Aerospace
•          Others

By Manufacturing Process (million pounds and $ million shipment analysis in 2017):

•          Hand lay up
•          Spray up
•          Resin infusion
•          Pultrusion
•          Injection molding
•          Compression molding
•          Prepreg lay up
•          Others

By Product Form (million pounds and $ million shipment analysis from 2012 to 2023):

•          Single end roving
•          Multi end roving
•          Woven roving
•          Fabrics
•          CSM
•          CFM
•          DUCS
•          CS
•          Others 

By Region (million pounds and $ million shipment analysis from 2012 to 2023):

•          North America
•          Europe
•          Asia Pacific
•          The Rest of the World 

By Country (Value ($M) and Volume (M lbs) shipment analysis for 2012- 2023): 

•             Germany
•             France
•             Italy
•             Spain
•             UK
•             Others

This 158-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Advanced Materials Reports, Composite Materials Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This report answers following 11 key questions:

Q. 1. What are some of the most promising, high-growth areas in the global glass fiber market by application (marine, transportation, pipe and tank, aerospace, construction, electrical and electronics, consumer goods, wind energy, and others), product type (single end roving, multi end roving, woven roving, fabrics, CSM, CFM, DUCS, and CS), manufacturing process (hand lay up, spray up, resin infusion, pultrusion, injection  molding, compression molding, prepreg layups, and others), country (the USA, Canada, Mexico, Germany, UK, France, Italy, Spain, China, India, Japan, Taiwan, and Brazil), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q. 2.Which product segments will grow at a faster pace and why?

Q. 3.Which region will grow at a faster pace and why?

Q.4.What are the key factors affecting market dynamics? What are the drivers and challenges in the market?

Q.5.What are the business risks and competitive threats in this market?

Q.6.What are emerging trends in this market and the reasons behind them?

Q.7.What are some changing demands of customers in the market?

Q.8.What are the new developments in the market and which companies are leading these developments?

Q.9.Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?

Q.10. What are some of the competitive products in this market and how great of a threat do they pose for loss of market share through product substitution?

Q. 11. What M & A activities have transpired in the last 5 years in this market and how have they affected the industry?