Glass Fiber Textiles Market Future Challenges and Industry Growth Outlook 2026 | COVID-19 Analysis

The market research report, entitled Glass Fiber Textilesshows good possibilities in the Glass Fiber Textilesmarket during the next five-year period and ensures more information regarding market trends. The following summary will give an overview of the drivers, challenges and key players in the market.

Global Glass Fiber TextilesMarket Forecast:

The global Glass Fiber Textilesmarket is forecasted to grow at a rate of 4.4% CAGR during the period of 2021-2026.  Glass Fiber TextilesMarket will be experiencing an escalation in demand attributed to the growing usage of Glass Fiber Textilesin the market. The XYZ market growth depends upon numerous factors which have direct or indirect impact on the demand. Our report has the summary of such factors derived using SWOT, PEST, industry life cycle and supply chain analysis. These methods help in analysing the strength of the companies and identify gaps as well as opportunities to lay out a successful roadmap which leads to higher profitability.

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Some linchpins in the market are

BAE Systems Plc., Cobham Plc., Honeywell International Inc., Microsemi Corporation, and Texas Instruments

Glass Fiber TextilesMarket Segmentation:

The report segments based upon demographics, geographics, benefits and volume etc, has different driving factors and identifies the most-attractive segments and sub-segments. Glass Fiber Textilesmarket segmentation will not only help marketers to be more efficient in terms of time, money and other resources but also allows companies to learn about their target audience so that they can tailor campaigns and increase market share and revenue.

Owens Corning

Jushi Group

Sinoma Science & Technology (CTG Taishan Fiberglass)

Kingboard Laminates

Full tech Fiberglass Corp.

Saertex

Taiwan Glass Group

CPIC

Growth drivers and Market Value:

This report, from Stratview Research, studies the Glass Fiber Textiles Market value and growth drivers over the trend period of 2021-26. According to the report –

The glass fiber textiles market has been one of the major victims of the pandemic, recording a hefty decline in 2020. On one side, some end-use industries, such as consumer goods, pipe & tank, construction, and transportation, have experienced hefty declines in the wake of the pandemic, whereas, on the other side, wind energy and recreational boats emerged as sailors and surfaced the dwindling stakeholders’ revenue decline to an extent.

The long-term outlook seems promising with an increase in the demand for wind turbines, recreational boats, and PCBs. Furthermore, expected rebound in the demand for automobiles, the construction sector, and pipe & tank may give an additional impetus to the demand for glass fiber textiles in the coming five years. Stratview Research’s estimates suggest that the market is likely to pick up the pace from 2021 onwards to reach an estimated value of US$ 6.1 billion in 2026.

Segment Analysis:

Based on Product Type:

Based on the product type, the market is segmented into woven textiles, woven yarn, multi-axials, and CFM/CSM. Woven yarn is anticipated to maintain its lead during the forecast period. Huge dominance of woven yarn in the electrical & electronics and transportation industries, owing to its better control over strength, thickness, and weight as compared to conventional product type. PCB laminate is one of the key application areas where glass fiber yarns are used in the wake of impressive corrosion resistance, thermal conductivity, dielectric properties, and lightweight.

Based on Region:

Among regions, Asia-Pacific is expected to remain the dominant market during the forecast period, driven by the electrical & electronics, and automotive industries. The region is also likely to log the highest growth during the forecast period in the wake of the enormous investment in the wind energy sector, a continuous shift of the electronics industry towards Asia, and a manufacturing hub of the transportation and construction sectors. China acts as the growth engine with Japan and India being other key markets in the region.

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COVID-19 IMPACT Analysis on Glass Fiber TextilesMarket

Coronavirus has influenced every one of the organizations, little or large, dealing in any sector. The growth curves of XYZ market have seen immense fluctuations in the year 2021. The market scenario and the pace of growth have taken a colossal turn and have prompted numerous adjustments in the cycles, which will have repercussions for a significant stretch. 2021 is probably going to be superior to 2021 for the XYZ market players as the greater part of the organizations have continued their activities and the interest is getting reestablished for them.

Note: This report will be refreshed to consolidate the effect of COVID-19, available for the time of 2021 to 2026.

Regional Analysis

The assessment of the pandemic reveals an enormous transformation in both short, as well as long-term regional business. With some barriers along the road, the Glass Fiber Textilesmarket stakeholders hope to regain stability in 2021, with flourishing demand and a hassle-free market environment. In terms of region, North America and Russia held the major chunk of the market in and before 2021. Despite several setbacks and the pandemic’s impact, the regions having the presence of key players, are likely to maintain their dominance in the upcoming years. According to the report, North America. region is expected to handle the crisis most efficiently, growing at the highest rate during the five-year tenure and is expected to become the next potential manufacturing hub.

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Stratview Research

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About Stratview Research

Stratview Research is a global market intelligence firm helping its clients’ tract the ever-evolving market scenarios through customised and syndicated reports. The reports offered here are gathered with the help of our wide-ranging and reliable secondary sources and in-depth interviews with the linchpins within the market. Extrapolated through primary and secondary research, Stratview Research’s reports help you remain ahead of the curve by enabling you to understand the current market trends and challenges coming on your way. Our strong team of industry veterans and researchers assure high quality research and strategic insights that help companies worldwide in effective decision making.

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