Glass Fiber Reinforcements Market to Grow at a CAGR of 5.4% from 2017 to 2024, Driven by Firm Demand from Wind Energy, Pipes & Tanks, Automotive and Construction Sectors
Industry Experts, Inc. released an updated 2018 version of its global market report on Glass Fibers. The new report entitled " Glass Fiber Reinforcements – A Global Market Overview ", reveals Asia-Pacific is the world’s largest market for Glass Fiber Reinforcements in terms of both volume consumption and market value estimated at 2.7 million metric tons valued at US$3.6 billion in 2017. Glass fiber is the most widely used reinforcement fiber in thermosets and thermoplastics across a wide variety of applications. This material is the predominant fiber in composite materials used in corrosion-resistant pipes and tanks, bridge decks, boats and wind turbine blades. It is also the dominant reinforcement for automotive composites. In aerospace, too, most of the panels that form the interior cabins of commercial aircraft are based on glass fiber. Glass fiber reinforcements market is forecast to record a CAGR of 5.4% from 2017 to 2022, attributed to growth in the key end-use appl...