New Product Launch is the Key Strategy Adopted by the Leading Players in the Fiberglass Roving Market
Fiberglass roving is a loosely associated bundle of untwisted strands of glass fibers. Usually roving consists of 300 to 4,800 glass fiber strands with a diameter ranging from 4 to 13 microns. The size of glass fiber is selected based on type of application and resin used. Fiberglass roving offers a superior processing range, providing low fuzz under various tension levels, fast wetting, and smooth surface as well as is lightweight and corrosion and thermal resistant. The fiberglass roving market size is projected to reach USD 11.02 billion by 2023, at a CAGR of 6.0% between 2018 and 2023.
The key players operating in the fiberglass roving market offer high-grade fiberglass roving and are focused on adopting inorganic and organic growth strategies to strengthen their market positions. These players have adopted partnerships, investments & expansions, acquisitions, and new product launches as their key growth strategies between 2014 and 2018.
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Major players operating in the fiberglass roving market include Owens Corning (US), Jushi Group Co., Ltd. (China), Chongqing Polycomp International Corporation (China), Johns Manville (US), Saint-Gobain Vetrotex (France), Nippon Electric Glass (Japan), Taishan Fiberglass, Inc. (China), AGY Holdings Corp. (US), China Beihai Fiberglass Co., Ltd (China), and Taiwan Glass Ind. Corp (Taiwan). These companies have a strong presence in the market and are undertaking initiatives to improve their business strategies and product portfolios.
Owens Corning focuses on capacity expansions to meet the growing demand for fiberglass roving used in specialty composites. In addition, the company focuses on new product launches to maintain a competitive edge in the market. The company recently has launched roving products under the brands HydroStand, WindStrand, PipeStrand, PulStrand, and Perfomax. The company has also acquired the glass business of Ahlstrom (France), which helped to increase its business in the European region. The company is focused on emerging markets such as India and continues to provide high-quality products. In 2016, the company has invested in a fiberglass manufacturing facility in India.
Jushi Group Co., Ltd. is one of the key players in the fiberglass roving market. The company is expanding its glass fiber roving business through acquisitions, partnerships, expansions, and new product launches. In 2016, the company started the operations of its second glass fiber furnace in Egypt to meet the increasing demand from the Middle East and Europe. The company, through new product launches and regional expansions, aims to maintain its leading position in the glass fiber roving market.
Related Reports:
Fiberglass Roving Market by Fiber Glass Type (E, ECR, H, AR, S),Product Type(Single-end, Multi-end, Chopped),End-use Industry (Transportation, Construction, Electrical & Electronics, Pipe & Tank, Wind, Aerospace, Marine),and Region Global Forecast to 2023
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