Electric
grade fiber glass is mostly used in manufacturing of automobile and aircraft
body parts owing its lightweight properties is estimated to drive the market
growth. Not only has this, having high strength also drive its demand more
effectively in the market majorly due to application of electric grade fiber
glass such as building and construction, electronics, automotive, aerospace and
others has led to positive demand for electric grade fiber glass in the current
scenario. Furthermore the electric grade fiber glass is classified into two
segments of the market such as general fiber glass and special fiber glass. In
addition, extensive use of electric grade fiber glass in construction is likely
to further propel the market over next coming few years.
In
Asia-Pacific region, demand for electric grade fiber glass in developing
countries has largely increased due to rise in construction activity. This is
one of the major reasons for growth in global electric grade fiber glass
market. The electric grade fiber glass market can be further sub-divided on the
basis of support of material, usage type, end-use industry and others.
Furthermore the market of electric grade fiber glass can also be classified on
the basis of residential, commercial, and industrial sector. According to the
study, ‘Asia
Electronic Grade Fiber Glass Industry Situation And Prospects Research Report’
some of the major companies which are currently operating in this market
efficiently includes BGF Industries, Hexcel, JPS, Porcher, Polotsk, Isola
Group, Nittobo, Nippon electric glass, PPG Industries, LANXESS, Nihon Glass
Fiber Industrial Co., Ltd., Atlanta Fberglass, AGY, Goa Glass Fiber Ltd,
Chongqing Polycomp International Corp, Taibo Group, Jushi Group, Shanghai
Grace, Zhuhai gongkong Fiber Co. Ltd, Kingboard Chemical Holdings Ltd., Taishan
Fiberglass Inc., Linzhou Guangyuan New Material Technology Co., Ltd., Weibo
fiber-glass reinforced of plastics, Zhuhai Fuhua composites Co., Jiangxi
Changjiang Glass Fiber Co. The key players are focusing on the development of
technology and making effective use of the product to acquire the large share
in the market. Hence, the massive investment towards the electric grade fiber
glass is anticipated to increase the demand in the up-coming years.
The
electric grade fiber glass market demand increases geographically which further
led the market to grow positively. Moreover the new strategies and enhancement
in the investment policies drive the status of the market geographically.
However, Asia-Pacific region is also expected to manage a significant share in
the global electric grade fiber glass market. Developing countries and
automobile sector such as India and China are major consumer of the electric
grade fiber glass market. On the other hand, rising disposable income coupled
with the presence of key players in Asia Pacific is likely to drive the
regional market during the forecast period. In Asia-Pacific region, countries
which are optimistic in this market include India, China, Saudi Arabia, Japan,
Korea, and others. Therefore the market of electric grade fiber glass is highly
competitive with an array of operating players. Increase in demand resulted in
higher competition in the market scenario. In future, it is anticipated that
there will be boost in the market.
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