Europe Glass Fiber Market
European continent comprises several developing economies such as Germany, France, UK, and Italy, among others. Europe has matured the automotive, aerospace, and consumer electronics sector, and it is further supported by high technology connectivity environment. Besides, around 16.2 million automobiles are produced across 25 countries in Europe. Most of the high-performance four-wheeler companies are located in Germany, Italy, France, the UK, and Poland. Furthermore, the European aerospace market is the global leader in aerospace product exports.UK, France, and Germany are home to the leading aerospace manufacturers, followed by Sweden and Poland. A substantial financial investment is made in R&D for the aerospace industry, which is bolstering the glass fiber market. Apart from this, Europe region is experiencing a growing demand for glass fiber due to the increasing disposable incomes, growing urbanization, and the expansion of the construction industry. These factors boost the glass fiber market in Europe. The rising demand in the end-user industries for glass fiber is driving the European glass fiber market. The increase in the electrical and electronics industry as well as the automobile industry is going to drive the glass fiber market in this region. Steady growth in the automotive, aerospace, and other industries has had a considerable influence on the glass fiber market in Europe.
In case of COVID-19, Europe is highly Affected Specially Russia which has recorded the highest number of COVID cases. Other than this, France, UK, Italy, Spain and Germany have also been hit hard and are expected to suffer an economic hit due to a lack of revenue from various industries. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The European chemical and materials industry is one of the major industries that is suffering serious disruptions such as supply chain breaks, technology events cancellations, office shutdowns etc. because of this outbreak.
Strategic insights for the Europe Glass Fiber provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 1,812.40 Million |
| Market Size by 2027 | US$ 2,340.84 Million |
| Global CAGR (2020 - 2027) | 3.7% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Fiber Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Glass Fiber refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Europe glass fiber market is expected to grow from US$ 1,812.40 million in 2020 to US$ 2,340.84 million by 2027; it is estimated to grow at a CAGR of 3.7% from 2020 to 2027. Growing usage of lightweight glass fiber reinforced plastic (gfrp) composites is expected to fuel the market growth. Glass fiber reinforced plastic is a composite material that consists of a polymer matrix and glass fibers. The polymer matrix is usually an epoxy, vinyl ester, or polyester thermosetting resin. The most common types of glass fiber used for GFRP are E-glass and E-CR-glass. GFRP possesses several beneficial characteristics such as low weight at high mechanical strength, UV radiation and temperature stability, resistance against chemicals and corrosion, and environmental friendliness. It is waterproof and can be customized to be a fire-retardant by using nonflammable resins. GFRP is a highly durable material with a very long lifetime expectancy, which makes it ideal for a wide range of applications in various industries. It is used in new construction applications such as transportation infrastructure, runways, rail LRT, mining and tunneling, buildings, IT and research facilities, waterside concrete structures such as water treatment facilities, retaining and sea walls and drainage systems. In addition, GFRP are used in construction of pipe work and chemical storage vessels and fume scrubbers. They are also used for manufacturing automotive car body panels. Rising demand for low weight, mouldability, and high-quality surface finishes makes GFRP an ideal material for automotive applications. Use of GFRP as an alternative to wood and steel to manufacture ships, yachts, and marine transportation vehicles is expected to boost the demand for glass fibers in the near future for Europe region.
In terms of fiber type, the E/ECR glass fiber segment accounted for the largest share of the Europe glass fiber market in 2019. In terms of product type, the others segment held a larger market share of the Europe glass fiber market in 2019. In terms of application, the transportation segment held a larger market share of the Europe glass fiber market in 2019. Further, the compression molding segment held a larger share of the Europe glass fiber market based on manufacturing process in 2019.
A few major primary and secondary sources referred to for preparing this report on the Europe glass fiber market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are China Jushi Co., Ltd.; Chongqing Polycomp International Corp. (CPIC); Johns Manville; Nippon Electric Glass Co.,Ltd.; Owens Corning; SAINT GOBAIN S.A.; and Taishan Fiberglass Inc. (CTG)
The Europe Glass Fiber Market is valued at US$ 1,812.40 Million in 2020, it is projected to reach US$ 2,340.84 Million by 2027.
As per our report Europe Glass Fiber Market, the market size is valued at US$ 1,812.40 Million in 2020, projecting it to reach US$ 2,340.84 Million by 2027. This translates to a CAGR of approximately 3.7% during the forecast period.
The Europe Glass Fiber Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Glass Fiber Market report:
The Europe Glass Fiber Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Glass Fiber Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Glass Fiber Market value chain can benefit from the information contained in a comprehensive market report.
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