Global Inorganic Fiber Market 2019-2023
Global Inorganic Fiber Market: About this market
Inorganic fibers are made of organic materials, including carbon fiber, glass, silicon, and boron. Technavio’s inorganic fiber market analysis considers the sales of glass fiber, silicon carbide, boron, carbon fiber, and others. Our analysis also considers the sales of inorganic fibers in APAC, Europe, MEA, North America, and South America. In 2018, the glass fiber segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as easy availability will play a significant role in the glass fiber segment to maintain its market position. Also, our global inorganic fiber market looks at factors such as growing demand for glass fibers from developing countries, rise in preference for fuel-efficient vehicles, and growth in the aerospace industry. However, stringent regulations and policies, the threat of substitutes, and the increase in raw material prices may hamper the growth of the inorganic fiber industry over the forecast period.
Global Inorganic Fiber Market: Overview
Rise in preference for fuel-efficient vehicles
Automobile components such as engine compartment, gasket lining, and brake pads are mainly composed of inorganic fibers, including carbon fiber, ceramic, and glass. They are lightweight and help in improving fuel-efficiency. The increasing preference toward fuel-efficient vehicles among consumers will have a positive impact on the demand for components made of inorganic fibers. This is expected to drive the growth of the global inorganic fiber market at a CAGR of over 7% during the forecast period.
Growth in adoption of inorganic fiber in the renewable industry
Players in the wind energy industry are using carbon-fiber based composites for the production of wind blade structural components. The growing environmental concerns over GHG emissions is driving the growth of the solar and wind energy industry over the forecast period. This growth will have a positive impact on the global inorganic fiber market size.
For the detailed list of factors that will drive the global inorganic fiber market size during the forecast period 2019-2023, click here.
With the presence of several players, the global inorganic fiber market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several inorganic fiber manufacturers, that include AWA Paper & Technological Co. Inc., Kamenny Vek, Nippon Electric Glass Co. Ltd., Owens Corning, and Ube Industries Ltd.
Also, the inorganic fiber market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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