Irving, TX -- (SBWIRE) -- 10/24/2016 -- According to a new market report published by Lucintel, the future of the glass fiber market looks promising with good opportunities in various end use industries, such as construction, transportation, marine, and consumer goods. The global glass fiber market is expected to reach an estimated $8.9 billion by 2020 and it is forecast to grow at a CAGR of 5.3% by value from 2015 to 2020. The major driver for market growth is the rise in demand for glass composite-made products, including bathtubs, pipe & tank, printed circuit boards, wind blades, and auto body panels.

This report has 156 figures/charts and 20 tables spread through 242 pages http://www.lucintel.com/glass_fiber_market_2020.aspx

On the basis of comprehensive research, Lucintel predicts that the construction is likely to remain the largest segment during the forecast period. Growing demand for corrosion resistant, light weight, flexible, and durable FRP products are the major drivers for glass fibers in the construction industry.

Transportation is expected to remain the second largest segment by value and the third largest segment by volume consumption after the pipe and tank industry. Government regulations, such as CAFE Standards in the US and carbon emission targets in Europe, are putting pressure on OEMs to incorporate light-weight materials to curb the overall vehicle weight, and this is the key driver for glass fiber in the transportation industry

Asia Pacific is expected to remain the largest region during the forecast period due to growth in end use segments. Asia Pacific and The Rest of the World are expected to grow significantly because of the growing construction and transportation segments. Growing economy, growth in population, and urbanization are the major forces that drive the construction segment, especially in China and India.

The report suggests expansion in growing regions to tap local market potential, joint ventures with local players, and innovation. Another key strategy is new product development, which major companies in the glass fiber market are doing. The emerging trends in the global glass fiber market have a direct impact on the dynamics of the industry. Cost optimization and performance enhancement of high performance glass fibers are two of the emerging trends; other trends include new application development and the use of ultra-thin and high quality glass cloth to make light weight, thinner multilayered PCBs. Owens Corning, PPG, Johns Manville, Jushi, CPIC, and Taishan Fiberglass are among the major suppliers of glass fiber.

Lucintel, a leading global strategic consulting and market research firm, has analyzed the global glass fiber market by end use industry, product, and region and has come up with a comprehensive research report, "Global Glass Fiber Market 2015-2020: Trend, Forecast, and Opportunity Analysis." The Lucintel report serves as a springboard for growth strategies, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global glass fiber market through 2020, segmented by end use industry, product, material, and region as follows:

By end use industry (Volume (Million Pounds /Kilo ton) and $ Million shipment from 2009 – 2020):

-Transportation
-Marine
-Wind Energy
-Aerospace
-Construction
-Pipe and Tank
-Electrical and Electronics
-Consumer Goods
-Others

By product (Volume (Million Pounds /Kilo ton) for 2014:

-Single End Rovings
-Multi End Rovings
-Woven Rovings
-Fabrics
-CSM
-CFM
-DUCS
-CS
-Others

By region (Volume (Million Pound /Kilo ton) and $ Million shipment from 2009 - 2020):

-North America
-Europe
-Asia Pacific
-The Rest of the World

This 253-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/glass_fiber_market_2020.aspx or helpdesk@lucintel.com.

About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This report answers the following 11 key questions:

1.What are some of the most promising, high-growth in the global glass fiber market by end use industries (transportation, marine, wind energy, aerospace, construction, pipe & tank, E&E, consumer goods, and others) by product type (single end roving, multi end roving, woven roving, fabrics, CFM, CSM, DUCS, CS, and others) and by region (North America, Europe, APAC, and ROW)?
2.Which product segment will grow at a faster pace and why?
3.Which region will grow at a faster pace and why?
4.What are the key factors affecting market dynamics? What are the drivers and challenges in the market?
5.What are the business risks and competitive threats in this market?
6.What are the emerging trends in this market and reasons behind them?
7.What are some of the changing demands of customers in the market?
8.What are the new developments in the market and which companies are leading these developments?
9.Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
10.What are some of the competitive products in this area and how great a threat do they pose for loss of market share through product substitution?
11.What M&A activities have taken place in the last five years in this market and what impact have these activities had on the industry?