A new report looks at trends, opportunities and forecasts in the glass fiber textile market to 2026. The study include information by application (transportation, marine, wind energy, aerospace & defense, pipe and tank, construction, electrical and electronics, consumer goods, and others), by product (woven roving, non-crimp, woven yarn, CFM/CSM) and region (North America, Europe, Asia Pacific, and Rest of the World).
According to ASD Reports, the future of this market looks promising with opportunities in transportation, marine wind energy, aerospace and defense, pipe and tank, construction, electrical and electronics, consumer goods and others. The global glass fiber textile market declined in 2020 due to the recession led by COVID-19. However, the market recovered in 2021, and it is expected to reach an estimated $5.7 billion by 2026 with a CAGR of 4.4 percent from 2021 to 2026.
The major driver for market growth is the rise in demand for end products, such as printed circuit board (PCBs), wind turbine blades, pipes and tanks, and boat hulls. Emerging trends, which have a direct impact on the dynamics of the glass fiber textile industry, include high-performance textiles for wind energy, high tensile glass fiber textiles for the construction market, and thinner materials in the PCB market.