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3. Agreements/contracts, expansions, acquisitions, and new product developments are key strategies adopted by leading players in the glass fiber yarn market

Glass fiber yarns consist of a defined number of glass fiber filaments of a certain nominal diameter. Glass fiber filaments are obtained by high-temperature melting of inorganic materials which are drawn through a platinum-rhodium bushing and then rapidly cooled. Glass yarn is formed by combining more single filaments, between 4 to 13 microns depending on yarn count, in a continuous strand. Continuous strands of these filaments are woven, knitted, and braided to form other types of fabrics. Yarns have electrical insulation properties, high tensile strength, and are resistant to chemicals and heat.

The major drivers for the glass fiber yarn market include increasing consumption of glass fiber yarns in automotive and marine applications, extensive use of glass fiber yarn in construction industry, and increasing demand for PCBs made from glass fiber fabrics. Issues associated with glass fiber yarn recycling, and high production cost of glass fiber yarn can restrain the market from growing. Some of the opportunities for manufacturers include increasing demand for power generation from renewable sources, Increasing demand for glass fiber yarn in Middle East & Africa for construction and infrastructure, and increasing demand from wind energy sector in US. The major challenge faced by the manufacturers is capital-intensive production and complex manufacturing process of glass fiber yarn. The global glass fiber yarn market is estimated to be USD 2.5 billion in 2022 and is projected to reach USD 3.5 billion by 2027, at a CAGR of 6.5% between 2022 and 2027.

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Companies operating in the glass fiber yarn market have strengthened their position by adopting expansions, partnerships, agreements, new product/technology launches, joint ventures, contracts, and mergers & acquisitions from 2018-2022. For instance, in July 2021, Owens Corning, a US based developer and producer of insulation, roofing, and fiberglass composites and related materials and products, acquired Vliepa GmbH to broaden its non-woven product catalogue, aiming to serve the building & construction sector in the European region.

Owens Corning (US), China Jushi Co., Ltd. (China), Chongqing Polycomp International Corporation (China), PFG Fiber Glass Corporation (Taiwan), Nippon Electric Glass Co., Ltd. (Japan), Saint-Gobain S.A. (France), Taishan Fiberglass Inc. (China), AGY Holdings Corp. (US), Taiwan Glass Industry Corporation (Taiwan), and Fulltech Fiber Glass Corp (Taiwan) are some of the key players in the glass fiber yarn market.

Owens Corning is a major player manufacturing and supplying glass fiber composites. The company operates its business through three segments, Insulation, Roofing, and Composites. It offers glass fiber yarn under the Insulation and Composites segments. It offers yarns for construction, wind energy, industrial, transportation, consumer goods, aerospace & defense industries for their lightweight, strong, and durable properties. It has plants, technical centers, and sales offices in 29 countries in North America, Asia Pacific, Europe, and other regions.

Jushi Group Co., Ltd. is a company under China National Building Material Co., Ltd., specializing in the manufacturing and sales of glass fiber as its main product. It supplies glass fiber composites to various sectors such as aerospace & defense, automotive, building & construction, chemical & industrial equipment, consumer goods, electrical & electronics, marine, sports & leisure, and wind energy sectors. The company is headquartered in Tongxiang City, Zhejiang Province, China. It has global production centers and subsidiaries in China, India, South Korea, Japan, Canada, the US, France, Italy, South Africa, Hong Kong, Brazil, Spain, and Germany.

Chongqing Polycomp International Corporation, a part of Yuntianhua Group Co., Ltd., is located in Chongqing, China. The company is involved in the manufacturing and supply of glass fiber composites globally. It offers various yarn products, such as single yarn, piled yarn, and industrial yarn fabrics, among others. These products find their application in electrical & electronics, construction, automotive, medical, sports equipment, marine, wind energy, and aerospace & military segments. It has production bases established in Chongqing, Shanghai, Zhuhai, and Changzhou in China, Brazil, and Bahrain. The company has four sales subsidiaries established in North America, Hong Kong, Russia, and Europe. It has an annual production capacity exceeding 600,000 tonnes.

Related Reports:

Glass Fiber Yarn Market by Fiber Type (E-glass type, S-glass type), Yarn Type (Single Yarn, Piled yarn), Application (PCB, Façade, Marble & Mosaic Tiles, Structural parts), End-use Industry and Region - Global Forecast to 2027

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