Global Market for Glass Fibers to touch 12.8 million MTs in 2016 valued at $30.5bn
Industry Experts, a multi industry focused market research firm, has re-released 2012 version of their global market research report on Glass Fibers replacing the 2011 version. According to the new report, glass fibers global market is estimated to reach 9.9 million metric tons in 2012 valued at US$22.2 billion and further projected to reach 12.8 million metric tons valued at US$30.5 billion by 2016, growing by CAGRs of 6.4% and 8.3% between 2012-2016 respectively for volume and value. The year 2010 witnessed a turnaround, with economic recovery peeping through the clouds in almost all major global regions, and demand for glass fibers in virtually all end user applications awoke from its slumber. Europe, though, continued in a depression mode, with demand for glass fibers in several applications refusing to pep up. Primary factors driving demand for fiberglass or glass wool insulation include levels of residential, commercial and industrial construction and refurbishment activity,