DUBLIN--(BUSINESS WIRE)--The "Indian Glass Fiber Market: Trends, Opportunities and Competitive Analysis 2023-2028" report has been added to ResearchAndMarkets.com's offering.
This report projects that the Indian glass fiber market will reach an estimated value of $636.6 million by 2028, exhibiting a robust Compound Annual Growth Rate (CAGR) of 7.3% from 2022 to 2028. The market's growth is primarily driven by increasing domestic consumption by government entities, NGOs, and civic bodies.
The future of the Indian glass fiber market looks promising, with significant opportunities emerging across various end-use industries. The key sectors presenting growth prospects include pipe and tank, aerospace and defense, wind energy, electrical and electronics, construction, transportation, and marine applications.
Market Insight:
According to industry analysts, the wind energy sector is expected to remain the largest end-use segment for glass fiber, exhibiting the highest growth during the forecast period. The advantages offered by glass fiber, such as corrosion resistance, high strength-to-weight ratio, low maintenance, and longer lifecycle compared to traditional materials, drive its demand in wind energy applications. Additionally, woven roving is anticipated to be the largest product type segment due to its increasing demand in wind and marine industries.
Emerging Trends:
The report highlights two emerging trends with a direct impact on the Indian glass fiber industry:
- Innovation trends focused on ultra-high modulus glass fiber: Manufacturers are exploring innovative technologies to develop ultra-high modulus glass fiber, enhancing the material's strength and performance.
- Glass fiber-based composites part using 3D technology: The integration of 3D technology in the production of glass fiber-based composites parts offers new possibilities for designing complex and intricate structures.
Companies Covered:
The report profiles some of the key Indian glass fiber companies, including:
- Owens Corning
- Jushi India Fiberglass Pvt. Ltd.
- 3B The Fiber Glass Company
Indian Glass Fiber Market by Segment:
The study provides a comprehensive forecast for the Indian glass fiber market based on end use, manufacturing process, and product type. The segmentation details are as follows:
Indian Glass Fiber Market by End Use:
- Pipe and Tank
- Aerospace
- Wind Energy
- Electrical and Electronics
- Construction
- Transportation
- Marine
- Others
Indian Glass Fiber Market by Manufacturing Process:
- Hand Lay-Up
- Filament Winding
- Pultrusion
- RTM/VARTM
- Compression Molding
- Thermoplastic Molding
- Others
Indian Glass Fiber Market by Product Type:
- Single End Roving
- Multi End Roving
- Woven Roving
- Fabrics
- CSM
- CFM
- DUCS
- CS
- Others
Frequently Asked Questions (FAQs):
Q1. What is the Indian glass fiber market size? A1. The Indian glass fiber market is expected to reach an estimated $ 636.6 million by 2028.
Q2. What is the growth forecast for the Indian glass fiber market? A2. The Indian glass fiber market is expected to grow at a CAGR of 7.3% from 2022 to 2028.
Q3. What are the major drivers influencing the growth of the Indian glass fiber market? A3. The major driver for market growth is domestic consumption by the government, NGOs, and civic bodies.
Q4. What are the major applications or end-use industries for Indian glass fiber? A4. Wind energy and construction are the major end uses for Indian glass fiber.
Q5. What are the emerging trends in the Indian glass fiber market? A5. Emerging trends include innovation focused on ultra-high modulus glass fiber and glass fiber-based composites using 3D technology.
Q6. Who are the key Indian glass fiber companies? A6. Some of the key Indian glass fiber companies are Owens Corning, Jushi India Fiberglass Pvt. Ltd., and 3B The Fiber Glass Company.
Q7. Which Indian glass fiber product type segment will be the largest in the future? A7. The analyst forecasts that woven roving will remain the largest product type segment by volume over the forecast period due to its growing demand in wind and marine industries.
Q8. Do we receive customization in this report? A8. Yes, the analyst provides 10% Customization Without any Additional Cost.
Key Questions Answered in the Report:
The report addresses the following key questions:
- What are the most promising potential high-growth opportunities in the Indian glass fiber market across various end uses, manufacturing processes, and product types?
- Which segments are expected to grow at a faster pace and why?
- What are the key factors affecting market dynamics, including the drivers and challenges?
- What are the business risks and threats to the market?
- What are the emerging trends and reasons behind them?
- What are the changing demands of customers in the market?
- What are the new developments in the market, and which companies are leading these developments?
- Who are the major players in this market, and what strategic initiatives are they implementing for business growth?
- What are some competitive products and processes in this area, and how big of a threat do they pose for loss of market share via material or product substitution?
- What M&A activities have taken place in the last 5 years in this market?
For more information about this report visit https://www.researchandmarkets.com/r/vhnwd3
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