Global glass fiber and specialty synthetic fiber market to grow to US$14240 mln by 2020

The global glass fiber and specialty synthetic fiber market is expected to grow to US$14240 mln by 2020, at a CAGR of 6.47% during to 2020 with the large share accounted by North America and Europe together, as per MarketsandMarkets. The high growth in North America and Europe is estimated due to rising advancements at the end-industries such as protective clothing, reinforcement materials, and ballistic protection. Europe is projected to account for the second-highest growth during the same period. Companies profiled in ‘Glass Fiber And Specialty Synthetic Fiber Market’ research report are AGY Holding Corp, ASM International, 3B Fiberglass, Cytec Industries Inc, E. I. Du Pont De Nemours and Company, Honeywell International Inc, Jushi Group Co. Ltd, Mitsubishi Rayon Co. Ltd, Owens and PBI Performance Products, Inc. Protective equipment, safety applications, ballistic protection, and automotive industry have the largest application of specialty synthetic fibers and glass fibers. Significant application of glass fiber and specialty synthetic fiber market can be seen in commercial, marine, medical, sporting goods, wind energy, pressure vessel, and reinforcement materials industries. Aramids, UHME polyethylene, and POA are the major types of specialty synthetic fibers. Glass fiber is made from extremely fine fibers of glass. It is a lightweight, extremely strong, and robust material. Although strength properties are somewhat lower than carbon fiber and it is less stiff, the material is typically far less brittle, and the raw materials are much less expensive. Its bulk strength and weight properties are also very favorable when compared to metals, and it can be easily formed using molding processes. Aramids are synthetic fibers made from polymer aromatic polyamide are mainly of two types, para aramid and Meta aramid. North America is the major region in terms of production and consumption of aramids. The market for aramids is projected to register a significant growth in emerging economies of Asia-Pacific mainly due to growing industrialization and infrastructure development. The glass fiber & specialty synthetic fiber market is anticipated to register a high growth rate in the coming years. The market is innovation driven and investments are expected for new specialty synthetic fiber properties and completely new products. There are large numbers of different sized players in the market; however, it is dominated by a few big companies. Currently, the specialty synthetic fiber market is mainly concentrated in the North American and European regions, while RoW, especially Latin America is expected to witness a high growth rate in future years. AGY Holding Corp. (U.S.), 3B Fiberglass (Belgium), Cytec Industries Inc. (U.S.) is the important active players in the glass fiber and specialty synthetic fiber market.