The fiberglass fabrics market is projected to increase by USD 2.84 billion, growing at a CAGR of 7.5% between 2023 and 2028. These fabrics are widely used in various industries for their superior properties, such as corrosion resistance and high load-bearing capacity. The demand for fiberglass fabrics is expected to rise significantly in sectors such as construction, automotive, marine, and electrical and electronics, contributing to the market’s expansion.
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The fiberglass fabrics market report includes a detailed breakdown by application, type, and geography for the period 2024-2028, alongside historical data from 2018-2022.
The primary driver for the fiberglass fabrics market is the ongoing innovation in raw materials, such as the development of low-viscosity resins. These innovations simplify storage, improve consistency, and enhance product quality, particularly in sectors like wind energy where fiberglass fabrics are essential for wind turbine blade manufacturing. Additionally, the integration of recycled and sustainable materials is gaining momentum, aligning with the global trend towards eco-friendly manufacturing practices.
The development of multi-axial fiberglass fabrics is a key trend shaping the market. Multi-axial non-crimp fabrics (NCFs), such as Stratos fabric, are emerging as a revolutionary product. These fabrics replace traditional stitched layers with adhesives to maintain fiber alignment, resulting in enhanced mechanical properties and versatility across various applications, including aerospace and construction.
Despite the growth prospects, the high costs of manufacturing fiberglass fabrics remain a significant challenge. The production of raw materials, particularly industrial sand and gravel, required for fiberglass fabric production, represents a substantial cost. In 2023, the US saw a 36% increase in the value of industrial sand and gravel, further stressing the need for cost-effective production methods.
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The following companies are key players in the fiberglass fabrics market:
This market report reflects the latest developments and trends as of 2023, outlining the future direction of the fiberglass fabrics market.
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