Research and Markets has announced the addition of the "Global Glass Fiber Market 2012-2017: Trend, Forecast, and Opportunity Analysis" report to their offering.
Although the global glass fiber market declined in 2009, the market made a strong recovery in 2010 from the global economic recession. According to Lucintel's analysis, the market is expected to gain momentum and reach an estimated $11.2 billion in 2017 with a CAGR of 6.9% over the next five years (2012-2017).
Lucintel's analysis finds that the glass fiber market is undergoing a regional shift in demand, and this new dimension is likely to provide growth opportunities to the regional players. Asia became the leader in terms of total glass fiber shipments, surpassing North America in 2007 in consumption volume (million pounds) mainly due to the acceptance of composite materials in various application areas and the double-digit growth of industrial production in China and India. In 2009, all regions depicted a decline in growth, but the decline was steeper in North America and Europe.
As the study indicates, price movement of inputs and energy costs are challenges for the industry players to bridge the price-performance gap. Global supply and demand discrepancies due to the emergence of low-cost Chinese suppliers are also a challenge. The weight reduction capabilities inherent in glass fiber, however, along with superior performance characteristics to replace traditional materials at relatively low cost are likely to boost the market. Growing demand in application areas such as construction, electrical and electronics, pipe and tank, wind energy, and transportation augurs well for the industry players.
Lucintel's research report contains an overview of the global glass fiber industry, glass fiber market analysis, glass fiber market trends (2006-2011) and forecast (2012-2017), growth areas, new materials development in the glass fiber industry, and more. This insightful report can help in making confident business decisions in this globally competitive marketplace.
