Global Fiberglass Electrical And Electronic Products Market 2017-2021
About Fiberglass Electrical Products
Fiberglass is a type of reinforced plastic in which the material used for reinforcement is glass fiber. Glass fibers can be of two types based on their geometry, continuous fibers, which are used in yarns and textiles, and the discontinuous (short) fibers, which are used as batts, blankets, and boards for insulation and filtration. Fiberglass is formed into yarn and is also woven into fabrics. Fiberglass is personalized for certain uses such as type E (electrical), which is used as electrical insulation tapes, textiles, and reinforcements; type C (chemical), which offers superior acid resistance, and type T (thermal), which is used for thermal insulation.
Technavio’s analysts forecast the global fiberglass electrical products market to grow at a CAGR of 7.04% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global fiberglass electrical products market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Fiberglass Electrical Products Market 2017-2021
Technavio recognizes the following companies as the key players in the global fiberglass electrical products market: Jushi Group, China Beihai Fiberglass, PPG Industries, Saint-Gobain, and AGY.
Other Prominent Vendors in the market are: Braj Binani Group, CHONGQING POLYCOMP INTERNATIONAL, KCC, Knauf Insulation, and Taishan Fiberglass.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is nanotechnology in fiberglass. The use of nanotechnology has increased in recent years and has given a major boost to the glass-fiber composites market. Nanomaterials find consistent use in polymer resins. They generally function as super filler, with a much smaller filler volume compared with traditionally filled resins. In addition, nano-filled resins often exhibit characteristics such as enhanced thermal and electrical conductivity and reduced flammability. For instance, Applied Nanotech has developed stronger fiberglass that can be used in certain application areas using carbon nanotube (CNT)-enhanced composites. Fulcrum SP Materials recently introduced its SP1/CNT reinforcement solution for fiberglass and epoxy composites. The technology enhances the performance of components and helps in creating stronger parts economically. This is expected to have an overall positive impact on the global fiberglass electrical and electronic products market during the forecast period.”
According to the report, one driver in market is growth in electrical and electronics industry. The electrical and electronics industry is experiencing high growth owing to high demands primarily for ultra high-definition television, wearable electronics, and 3D printers. Sales of mobile connected devices, especially smartphones, and tablets will continue to show significant growth and contribute to the total revenue of this industry. Major products in this sector include semiconductors, capacitors, cables, circuit breakers, switches, relays, sensors, connectors, circuit boards, motors, isolators, meters, and motors. With greater environmental awareness and higher energy costs, this industry is shifting toward energy-efficient electrical goods. Also, government initiatives toward environmental considerations are expected to drive the market for energy-efficient electrical and electronic products during the forecast period. Fiberglass electrical and electronic products such as PCBs, insulators, and enclosures are the essential components in the electrical and electronics industry. Fiberglass serves as one of the most important materials in this industry. Expansion in this industry is expected to have a positive impact on the global fiberglass electrical and electronic products market.
Further, the report states that one challenge in market is need for lean and energy-efficient manufacturing and processing. The sustainability and safety of composites are important factors that determine product competitiveness. With growing competition from Chinese and Asian imports, European manufacturers are looking for ways to optimize their production processes considerably, both in terms of energy and value. The demand for fiberglass is expected to increase strongly during the forecast period, and the production of composites has to meet the demand from the various end-user segments such as electrical and electronic products. The market for fiberglass composites is expected to have more demand than supply. With the rapid growth in the electrical and electronics industry, there is a rise in the demand for composite materials. However, the supply for fiberglass composites is insufficient to cater to this rise in demand. This has adversely affected growth in the global fiberglass electrical and electronic products market.
Jushi Group, China Beihai Fiberglass, PPG Industries, Saint-Gobain, AGY, Braj Binani Group, CHONGQING POLYCOMP INTERNATIONAL, KCC, Knauf Insulation, and Taishan Fiberglass.