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Global fiberglass market research project continues to grow
Writer:admin    Released:2019-10-31 16:22:48    Type:【L】【M】【S
Recently, M&M, a market research company from India, conducted a comprehensive survey of the global fiberglass market, including the regions where glass fiber is produced and used the most. The glass fiber market breaks down the fiberglass market by type (roving, yarn) and by application (composite, insulation), and studies the development trend and market size forecast by 2020. The report predicts that the global fiberglass market will reach a value of 15.57 billion by 2020.

M&M said that the current market is dominated by developed markets. Asia Pacific and North America together account for 78.1% of the global market share, and by 2015 the Asia Pacific region will dominate the market. The increase is due to the growth of fiberglass in various industries such as construction and construction. Industrial development regions are driving the growth in demand for various composite materials used in this market segment.

At the same time, North America is the region with the fastest growth in fiberglass consumption and is expected to continue in the future. The Asia Pacific region is the largest market for fiberglass, accounting for approximately 55% of the total market share. In terms of volume, China is the market with the highest revenue for glass fiber in the Asia-Pacific region. And, it seems to be a fast-growing market for fiberglass in the region.

Asia Pacific and North America are at the forefront of the global fiberglass market, with China and Japan as the main markets in the Asia Pacific region. China's consumption exceeds more than half of the region, followed by Japan, where consumption is growing at a steady rate of fiberglass. Although some capacity has been achieved in developing countries, such as China and India, these capabilities have proven to be more export-oriented than the promotion of domestic growth of fiberglass. China has developed a significant market share in the global fiberglass market, but competition from carbon fiber and rock wool has limited this market growth.
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