The fiberglass fabrics retain the greater properties such as seamless electrical resistance and electric insulation, which allows its usage as a prime strengthening material in high-pressure encloses for printed circuit boards (PCBs). These PCBs are majorly utilized in the computers, modems, consumer electronics, automotive, and telecommunication products, thereby inspiring up the requirement for the fiberglass fabrics in solicitation industries.
According to the report analysis, ‘Global Glass Fiber Fabric Market Size study, by Fabric Type (Woven, Non-Woven), by Application (Wind Energy, Transportation, Electrical & Electronics, Construction, Marine, Aerospace & Defense) and Regional Forecasts 2018-Growth of the social media and a mobile-savvy population in emerging countries’ states that in the worldwide glass fiber fabric market, there are numerous players which recently functioning more actively for leading the fastest market growth and dominating the great value of market share around the globe during the short span of time while decreasing the production cost of the fiberglass plastics, spreading the awareness related to such, implementing the profitable strategies, delivering the better consumer satisfaction and increasing the properties of the glass fiber includes Owens Corning, Gurit, Jushi Group Co., Hexcel Corporation, BFG Industries. Nitto Boseki Co. Ltd., and several others.
The Glass Fiber Fabric Market is uninterruptedly growing around the world over the upcoming years. In addition, the effective augment in the requirement for the power generation through wind energy industry, escalating requirement for fiberglass fabric from electrical and electronics & wind energy industries and outpouring in requirement for the printed circuit boards made from fiberglass fabric are the considerable drivers of the market around the globe.
Moreover, the environmental policies on the effectiveness of sustainable energy, which is likely to generating numerous opportunity in the coming future. Further, the properties of glass fiber are stumpy moisture absorption, heat strength, heat resistance and low dielectric continuous makes the material ideal for various markets. These assistances also rising the requirement of the glass fiber fabric among its users. However, the great production price of the fiberglass plastics is one of the foremost aspects which restricting the market growth of Glass Fiber Fabric around the world.
Furthermore, based on the geography, the market of glass fiber fabric is spread around the globe which majorly involves Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-pacific region is the leading/significant region around the world in terms of market share due to extraordinary production of electronics products and effective augment in the industrialization in the region. Europe is predicted to increase at higher rate in the global Glass Fiber Fabric market over the forthcoming years owing to high product dissemination in construction & aerospace segment in the region. Not only has this, the North America region is also predicted to exhibit higher growth rate / CAGR over the review period of 2018-2025 owing to the rapid development in the electrical & electronics and wind power industries in the economy. Therefore, in the near years, it is anticipated that the market of glass fiber fabrics will increase around the globe over the forthcoming years.
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Ankur Gupta, Head Marketing & Communications