The global glass fiber market and specialty synthetic fibers market is projected to register a market size of about $14,240.53 Million by 2020, signifying CAGR of around 6.46% between 2015 and 2020. 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. Glass fibers have application in transportation, construction, electronics, wind energy, industrial, and others. The market size of carbon fiber in terms of volume is projected to register a CAGR of around 14.2% between 2015 and 2020 to reach 130 ton approximately by 2020. Carbon fiber is an inorganic fiber consisting of very thin filament of carbon atoms. They have applications in the industrial, wind energy, automotive, sporting goods, aerospace & defense, and other industries.
The specialty synthetic fibers include aramids, UHMW polyethylene, POA, and other fibers are projected to register a high CAGR between 2015 and 2020. Aramids are made from polymer aromatic polyamide and generally are of two types, namely, para aramid and meta aramid. Globally, the aramid market is largely dominated by para aramids since it is used in wide range of applications due to its physical properties. The ultra-high molecular weight polyethylene is also known as high strength polyethylene and possesses great strength to weight ratio. After North America, Asia-Pacific is projected to drive the UHMW polyethylene market due to escalating defense budgets in emerging economies and demand for ballistic materials which will drive demand for UHMW polyethylene between 2015 and 2020. However, North America is the world leader in the production and consumption of UHMW polyethylene due to its growing body armor and vehicle armor market.
This report includes estimation of the market size for the global glass fiber market & specialty synthetic fibers market in terms of value and volume, regionally and in end-user markets. The report provides a comprehensive review of the important drivers, challenges, and key issues in the market. It is further segmented and includes forecast for key regions, such as North America, Europe, Asia-Pacific, and RoW. Top players of the industry are profiled in detail with their recent developments and other strategic industry activities. The segmentation by type of specialty synthetic fibers in terms of consumption and value for each region is also discussed in this report.
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