The Asia Pacific region is leading the global fiberglass fabric market, in terms of volume, and this trend is expected to continue till 2022. The key countries in this region, namely, China, Japan, and India, among others, are witnessing a gradual increase in the use of fiberglass fabric in the wind energy, transportation, and electrical & electronics, among other industries. The growth in the fiberglass fabric market is majorly due to the rising demand for superior performance materials from the wind energy and transportation industry. China leads the fiberglass fabric market in the Asia Pacific, accounting for more than half of the demand in the region. The increasing number of wind energy installations in 2016, increasing use of composites in PCBs, and high-speed rail projects are driving the demand for fiberglass fabric in China.
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Woven fiberglass fabric is the fastest-growing fabric in the fiberglass fabric market as it is used in various applications and offers high strength, corrosion resistance, and high thermal properties. Woven fiberglass fabrics enable the manufacture of lightweight and longer wind turbine blades that can capture greater volumes of wind at lower wind speeds, as also these wind turbines are easier to transport to off shore areas.
Wind energy is estimated to be the fastest-growing application market for fiberglass fabric. According to the Global Wind Energy Council (GWEC), by 2035, the renewable sources of energy are expected to generate more than 25% of the world’s electricity, and a quarter of this is expected to be derived from wind energy, which can also help in reducing CO2 emissions. Wind energy is a viable option for electricity generation, and can be utilized as a cost-effective resource while adding generating capacity to the grid. The growing use of wind energy in energy generation in developed as well as emerging nations and use of composites and fiberglass fabric for the manufacture of wind blades is expected to drive the fiberglass fabric market during the coming years.
In terms of fiber type, the market for E-glass fabric is expected to grow at the highest CAGR. E-glass fabrics are majorly used in the wind energy and electrical & electronics industries. E-glass fabrics are cost efficient and offer a wide range of properties such as corrosion resistance, lightweight, high electrical insulation, and strength, and are thus increasingly preferred in various applications.
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