Glass fiber market expected to cross US$20.1 bln by 2018

29-May-14

The specialty synthetic fibers and glass fiber market is segmented into seven types: para aramids, meta aramids, UHMW Polyethylene, carbon fiber, partially oxidized polyacrylonitrile fiber, and others including PPS fiber, PBI fiber, PBO fiber and liquid crystal polymer fiber and glass fiber. These individual specialty synthetic fibers have application-specific demands that are differentiated by their physical properties. Para and meta aramids are mainly used in safety applications such as protective clothing, gloves, etc. UHMW polyethylene is high-strength fiber used for ballistic protection, bullet proof vest, jackets, etc. As per MarketsandMarkets, the glass fiber market expected to cross US$20.1 bln by 2018. Huge potential of this market is drawing various new industry participants. The development in the specialty synthetic fibers will make its application more convenient in ballistic applications, aerospace, automotive, wind energy, sporting goods, and other areas, thereby offering numerous advantages to the industry in which these are applied. On an account of increasing demand for lighter, safer, and high strength materials and increasing applications of specialty synthetic fibers and glass fiber, the market will experience an increase in demand in the years to come. Specialty synthetic fibers manufacturers are constantly trying to develop their products line in order to increase their market share which in turn helps them to bag bulk supply contracts. This market is mainly dominated by few specialty synthetic fibers and glass fiber manufacturers in each specialty synthetic fibers type. Major layers in this market are DuPont (U.S.), Teijin Limited (Japan), Toho Tenax (Japan), Toray Industries Inc (Japan), Royal DSM (The Netherlands), Honeywell International Inc. (U.S.), Owens Corning (U.S.), and Jushi Group (China).