Glass Fiber Market and Specialty Synthetic Fibers Market Worth $14,240.53 Million by 2020
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The global glass fiber market and specialty synthetic fibers market is projected to register a market size of about $14,240.53 Million by 2020, signifying CAGR of around 6.46% between 2015 and 2020.
The report includes identification and analysis of factors that drive and restraint the global glass fiber market and specialty synthetic fibers market along with the opportunities and strengths. The market is segmented and the value has been projected based on important regions, such as Asia-Pacific, North America, Europe, and Rest of the World (RoW). Further, the market is segmented and the demand and value are estimated based on various key applications of glass fiber and specialty synthetic fibers, such as friction materials, reinforcement materials, safety applications, aerospace, ballistic protection, commercial marine, medical, and other applications.
Europe & North America are the major markets for para aramid which are contributing to the growth of the specialty synthetic fibers market
Europe is one of the major regions in terms of consumption of aramids. After effect of the economic slowdown in 2008 on most of the industries in this region and the on-going recovery, the demand for advanced materials is projected to rise. The demand for aramid in the European region is mainly driven by the western European countries such as Germany, the U.K., and France. Stringent safety regulations within various industries such as oil & gas, construction are fuelling the demand for protective clothing which is driving the demand for aramids in the region. Friction materials required for high-end automotive and other industrial sectors are also contributing to the growing aramid market in the region.
North America is the major region in terms of production and consumption of aramids. Globally, this market is the leader with respect to demand as well as product innovation in terms of quality and application development. Major countries in North America are the U.S. (the most dominant market, accounting for a significant market share) and Canada. The North American aramid market is largely driven by the personal protection segment where the demand for advanced solutions which combine comfort and maneuverability with high protection is high.
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Asia-Pacific is projected to register the highest demand for UHMW Polyethylene in its end-user industries by 2020
Asia-Pacific is the fastest-growing market for UHMW PE globally. Growing economies are enhancing their budgets for defense and military spending giving rise to body and vehicle armor market in the region. The U.S. and European countries are projected to be the hub of UHMW Polyethylene consumption in the world and are projected to be the major consumers of specialty synthetic fibers by 2019. The major countries in the region, which are projected to drive the UHMW Polyethylene market, are Japan, China, India, and South Korea. The key company producing UHMW polyethylene in the region is Toyobo Co. Ltd (Japan).
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