Fiberglass tape Market 2019
The global fiberglass tape market is projected to grow at a steady rate in the next five years. One of the primary driving forces behind this projected growth will be the increasing demand for this tape in the construction industry.
Fiberglass is known by many names such as spun glass, glass-reinforced plastic (GRP), and glass-fibre reinforced plastic (GFRP). It is a synthetic substance which consists of glass fibres suspended in resin. The growing popularity of fiberglass as a manufacturing material is primarily a result of its waterproof, heat-resistant, and damage-resistant nature. Lightweight and moderately tensile with remarkable power to compress, fiberglass is very easy to work with, and its special electrical characteristics give it an added advantage.
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Despite this, frequently changing costs of raw materials, the complexities involved with the method used to manufacture it, and the astronomical costs usually associated with cutting-edge technology are some of the factors which can severely affect the growth opportunities for the fiberglass tape market.
On the basis of type, the global fiberglass tape market is segmented into insulation, heat preservation, and others. From the end-user perspective, the market can be categorized into achitechive, industrial, and others.
From a geographical viewpoint, the global fiberglass tape market is comprised of North America, Asia-Pacific, Europe, Central and South America, and MEA (Middle East & Africa). In the North America region, the key countries in this market are the United States, Canada, and Mexico. In the Asia-Pacific region, the dominant countries are China, India, Japan, South Korea, Australia, Indonesia, Singapore, Malaysia, the Philippines, Thailand, and Vietnam. In Europe, the most important countries for this market are Germany, France, the United Kingdom, Italy, Spain, and Russia. In Central and South America, the largest share of the market is held by Brazil. In the Middle East and Africa, the Gulf Cooperation Council (GCC) countries, Turkey, Egypt, and South Africa are the significant players in this market. Of these regions, Asia-Pacific is currently the biggest market for fiberglass tape, thanks to its increasing use in different fields such as the automotive industry and the electrical industry in countries like China, India, and Japan. Fiberglass tape is also in great demand in the construction industry in several Asia-Pacific countries including India, Indonesia, and Thailand, which will also fuel market growth. The extensive use of this tape in thermal and electrical insulation will be another powerful driving force for market growth in this region, coupled with other factors such as the increased government expenditure in the domain of construction and the continuing increase of industrialization. Keeping all this in consideration, it can be safely predicted that the fiberglass tape market in Asia-Pacific will experience robust growth in the next five years.
The future of the fiberglass tape market looks bright with a lot of scope for growth in various industries. increase in use of this tape in many parts of the world due to factors like recyclability is a major growth driver for this market. This material can be recycled easily, and no environmentally harmful emissions occur during the recycling process.
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Table of Contents – Major Key Points
- Study Coverage
- Executive Summary
- Breakdown Data by Manufacturers
- Breakdown Data by Product
- Breakdown Data by End User
- North America
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