Agreements, Expansions & Investments, Acquisitions and New Product Developments, are the Key Strategies Adopted by Leading Players in the Global Fiberglass Fabric Market
Fiberglass fabrics are strong and durable materials consisting of numerous glass fibers arranged together to form fabrics. Fiberglass fabrics have a unique set of properties namely high strength, lightweight, corrosion resistance, electrical insulation, durability, and others. These unique properties lead to the increased demand for fiberglass fabrics for various applications such as wind energy, electrical & electronics, construction, transportation, marine, aerospace & defense, and others. In terms of value, the fiberglass fabric market is projected to reach USD 13.48 Billion by 2022, at a CAGR of 7.62% from 2017 to 2022.
The prominent players in the fiberglass fabric market are focusing on inorganic and organic growth strategies to strengthen their positions in the global fiberglass fabric market. These companies have adopted agreements, expansions & investments, acquisitions, and new product developments as key growth strategies between 2013 and 2017.
For instance, Owens Corning (US), an established company, has focused on strategic approaches namely acquisitions, investments, new product developments, and expansions to fortify its glass fiber business. The company signed an agreement to acquire the glass non-woven and fabric businesses of Ahlstrom (Finland), a fiber-based materials company in January 2016, to provide additional revenue, technology, talent, and access to various end-use markets.
The major players in the fiberglass fabric market are Owens Corning (US), Gurit (Switzerland), Jushi Group Co., Ltd. (China), Chomarat Textile Industries (France), Saertex GmbH & Co.KG. (Germany), Hexcel Corporation (US), Saint-Gobain Performance Plastics (France), Tah Tong Textile Co., Ltd (China), Auburn Manufacturing, Inc. (US), BGF Industries, Inc. (US), Nitto Boseki Co., Ltd. (Japan), and Taiwan Electric Insulator Co., Ltd. (China), among others. These companies have a high focus on their business strategies and also on their product portfolios. The companies are also focusing on increasing their geographical reach, growth strategies, business revenues, brand images, product offerings, industry coverage and such other factors to strengthen their positions in the global fiberglass fabric market. For instance, BGF Industries, Inc. manufactures woven and non-woven fabrics and serves applications such as aerospace, sporting goods, marine, and others. The company has a strong focus on its product portfolio and has developed new products such as woven co-mingled glass/polypropylene fabric and Aerialite X fabric in June 2016 and September 2013 respectively.
Saertex GmbH & Co.KG (Germany) is a multiaxial fabric provider for the fiberglass fabric market. The company has moderate industry coverage and caters to applications such as wind energy, sports, automotive, construction, and others. It has also undertaken inorganic and organic growth strategies such as acquisitions and new product developments to enhance its position in the global fiberglass fabric market. For instance, in August 2015, the company developed a new thermoplastic non-crimp fabric which has further enhanced its product portfolio.
Related Reports:
Fiberglass Fabric Market by Fiber Type (E-glass), Fabric Type (Woven, and Non-Woven), Application (Wind Energy, Transportation, Electrical & Electronics, Construction, Marine, Aerospace & Defense), and Region - Global Forecast to 2022
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