Fiberglass is a hugely flexible material which combines its light weight with an intrinsic strength to give a corrosion resistant finish, with a multiplicity of outside textures. It is also comparatively lower in cost than a lot of other alternate materials, which makes it an accepted option in a large variety of industries. It is used in both conventional and high-tech industries. These industries include construction, automotive, aerospace, sports, machines and consumer goods. Recently, the need for strong, lightweight, non corrosive elements has increased and this has lead to the growth of this industry. Its demand is expected to increase in the coming years and is predicted to grow to $6.4 million industry, growing at a CAGR of 5.9% for the period of 2012-2016.
The global marketof fiberglass composites is very competitive with companies contending on the basis of quality, technology, function, value etc. The industry is extremely focused with only a few large companies bookkeeping a main discuss of the world development. With respect to development as well as intake, United Declares is the top industry for dietary roughage cup. Germany, France and Italy are the major fiber glass producers in Europe. China is the major producer of fiberglass in the emerging markets and very soon, it is likely to exceed United States in terms of consumption.
The products made from fiber glass have become a significant piece of the technological advancement due to its efficiency and improved quality. As the end user market is very much sensitive to the change in globalization and scientific growth, the manufacturers have to regularly develop and find new products which in turn require a big investment for research and development activities. The exclusive qualities of fiberglass make it appropriate for a broad range of product programs, and gives benefits that are not seen in other types of development. Its exclusive actual physical qualities allow it to be easily tooled, shaped and produced to fulfill almost any situation. In North America, Europe and other developed markets around the world fiber glass markets are becoming more multifaceted and gradually becoming more high-value. Even as the present financial conditions are dropping investment in many industries, fiber glass sales are expected to remain strong, and increase significantly once the economic situation improve. Global supply, energy costs, demand discrepancies, the emergence of low-cost Chinese suppliers and price movements of the inputs are the challenges faced by this industry. Materials Market Report