Specialty Synthetic & Glass Fiber (SSGF) Market

Increase use of specialty synthetic & glass fiber ballistic manufacturing will spur the market revenue growth

The global specialty synthetic & glass fiber market accounted for US$ 64.3 Bn in 2018 and is growing at a CAGR of 6.5% throughout the forecast period from 2019 to 2027.

Cutting-edge research and development has created new fibers that expand beyond conventional, natural, and organic ones. This has resulted in the development of innovative products for various end-use industries, including healthcare and automotive, among others. Rising demand for low-weight and high-strength composite material coupled with consumer-friendly benefits offered by materials including waterproofing, stain resistance, durability, mechanical properties, and flexibility, fueling the specialty synthetic and glass fiber market growth. Rising demand for optical fiber cables and expansion of the electronics industry along with substantial growth in automotive, marine, and aerospace industries, among others, are anticipated further to boost the market growth of glass and specialty fiber.

In addition, the high demand of glass fiber pipes in emerging economies and the increasing demand of glass fiber from the building & construction industry, especially in the middle east and Africa region, are presenting lucrative opportunities for the growth of specialty synthetic and glass fiber market. Additionally, the growing usage of specialty synthetic and glass fiber for manufacturing ballistic equipment is anticipated to enhance the market growth. However, a combination of factors, including the high cost of production, less resistance to heat, issues related to recycling, and lack of research and development in specialty synthetic fiber, are hindering the market growth.

Market Synopsis

Glass segment to dominate the market throughout the forecast period.

Based on material type, the specialty synthetic & glass fiber market is classified into a glass and specialty synthetic fiber. Glass segment leads the global specialty synthetic & glass fiber market and is projected to grow significantly during the forecast years. In 2018, the glass segment contributed more than 60% of revenue share globally. This can be associated with low cost and superior mechanical properties, including durability, flexibility, and strength. Apart from that, enhanced applications of high-end glass fiber in various end-use industries, including wind energy, automotive, aerospace and defense, and electrical and electronics, will further spur revenue growth globally.

In contrast, the carbon fiber segment is anticipated to expand at a significant rate. It is in demand by various end-user industries owing to its benefits offered by it, including lightweight, stain resistance, and durability.

Aerospace & Defense segment expected to dominate the market during the forecast period

On the basis of end-user, the global specialty synthetic & glass fiber market is further classified into automotive, aerospace & defense, building & construction, wind energy, electrical & electronics, and others (marine, pipes & tanks, etc.). In 2018, the aerospace and defense segment led the specialty synthetic & glass fiber market. The segment accounted for more than 25% share in terms of revenue. This can be associated with rising environmental concern and demand for lightweight and high-strength material to increase fuel efficiency. In addition, manufacturers, including Boeing and Airbus, are rapidly deploying carbon composites in their aircraft.

In contrast, the wind energy segment is projected to grow rapidly in the future. Owing to the high demand of specialty synthetic and glass fiber, especially carbon composites, in the manufacturing of wind blades and hubs, among others. For instance, in September 2016, Mitsubishi Rayon Co. Ltd. And Fiberline Composites collaborated to distribute and manufacture carbon fiber composite laminates for wind turbine blades.

Rapid industrialization to spur revenue in Asia Pacific region.

In 2018, the Asia Pacific region dominated the global specialty synthetic & glass fiber market and contributed approximately 30% of revenue globally. The growth in the region can be attributed to rapidly growing industries, including building and construction, automotive, aerospace and defense, and wind energy, among others. China holds the largest market share in terms of revenue owing to increasing government spending on infrastructural development, rising industrialization, and the presence of large number of players in the region, among others. In April 2018, Owens Corning entered a licensing agreement with Taiwan Glass Ind. This agreement will help Owens Corning penetrate further into the Asia Pacific region.

In contrast, the Asia Pacific region is trailed by Europe and North America. However, the North American region is expected to grow significantly during the forecast period owing to the growing automotive and, aerospace & defense industry in the region.

List of Companies Covered:

• Owens Corning
• Nippon Electrical Glass Co.
• Honeywell International
• Jushi Group Co. Ltd.
• Toray Industries, Inc.
• SGL Group
• Mitsubishi Chemical Holdings Corporation
• Hexcel Corporation
• DuPont
• Royal DSM

Key Industry Development: 

• In November 2017, Nippon Electric Glass Co. Ltd. Announced the expansion of its Westerbroek plant’s production capacity. The company has approved an investment of Yen 7 Bn for the same.
• In October 2016, Nippon Electric Glass Co. Ltd. Announced the acquisition of PPG’s European fiber glass operations. Through this acquisition, Nippon Electric Glass Co. Ltd. Plans to expand in Europe and increase its chopped fiber strands business.
• In August 2016, Mitsubishi Chemical Corporation acquired Nippon Synthetic Chemical Industry Co. This acquisition will help the company to expand its product portfolio and market penetration further.
• In February 2020, Mitsubishi Chemical Corporation displayed its new innovative lightweight material at JEC World 2020. This will help the company gain competitive advantage globally in the specialty synthetic and glass fiber market.

Historical & Forecast Period

This study report represents analysis for each segment from 2017 to 2027, considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.

Segmentation Material Type Segment (2017–2027; US$ Bn)

• Glass Fiber
• Specialty Synthetic Fiber
• Carbon Fiber
• Uhmwpe Fiber
• Aramid Fiber
• PPS Fiber
• Others

Application Segment (2017–2027; US$ Bn)

• Non-composite
• Composite

End-user Segment (2017–2027; US$ Bn)

• Automotive
• Aerospace & Defense
• Building & Construction
• Wind Energy
• Electrical & Electronics
• Others (Marine, Pipes & Tanks, etc.)

Geography Segment (2017–2027; US$ Bn)

• North America (U.S. and Rest of North America)
• Europe (U.K., Germany, France, and Rest of Europe)
• Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
• Rest of World (Middle East & Africa (MEA), Latin America)

The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better market understanding of the overall specialty synthetic & glass fiber market. In addition, the global report also represents the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Material type
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global Specialty Synthetic & Glass Fiber (SSGF) Market
2.2. Global SSGF Market, by Material type, 2018 (US$ Bn)
2.3. Global SSGF Market, by Application, 2018 (US$ Bn)
2.4. Global SSGF Market, by End-user, 2018 (US$ Bn)
2.5. Global SSGF Market, by Geography, 2018 (US$ Bn)

3. Market Dynamics
3.1. Introduction
3.1.1. Global SSGF Market Value, 2017-2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players

4. Global Specialty Synthetic & Glass Fiber (SSGF) Market, by Material type , 2017-2027 (US$ Bn)
4.1. Overview
4.2. Glass Fiber
4.3. Specialty Synthetic Fiber
4.3.1. Carbon Fiber
4.3.2. Uhmwpe Fiber
4.3.3. Aramid Fiber
4.3.4. PPS Fiber
4.3.5. Others

5. Global Specialty Synthetic & Glass Fiber (SSGF) Market, by Application, 2017-2027 (US$ Bn)
5.1. Overview
5.2. Non-composite
5.3. Composite

6. Global Specialty Synthetic & Glass Fiber (SSGF) Market, by End-user, 2017-2027 (US$ Bn)
6.1. Overview
6.2. Automotive
6.3. Aerospace & Defense
6.4. Building & Construction
6.5. Wind Energy
6.6. Electrical & Electronics
6.7. Others (Marine, Pipes & Tanks, etc.)

7. North America Specialty Synthetic & Glass Fiber (SSGF) Market Analysis, 2017-2027 (US$ Bn)
7.1. Overview
7.1.1. North America SSGF Market Value and Growth, 2017-2027, (US$ Bn)
7.2. North America SSGF Market Value, By Material type, 2017-2027 (US$ Bn)
7.2.1. Market Analysis
7.3. North America SSGF Market Value, By Application, 2017-2027 (US$ Bn)
7.3.1. Market Analysis
7.4. North America SSGF Market Value, By End-user, 2017-2027 (US$ Bn)
7.4.1. Market Analysis
7.5. North America SSGF Market Value, By Region/Country, 2017-2027 (US$ Bn)
7.5.1. Market Analysis
7.5.2. U.S.
7.5.3. Rest of North America

8. Europe Specialty Synthetic & Glass Fiber (SSGF) Market Analysis, 2017-2027 (US$ Bn)
8.1. Overview
8.1.1. Europe SSGF Market Value and Growth, 2017-2027, (US$ Bn)
8.2. Europe SSGF Market Value, By Material type, 2017-2027 (US$ Bn)
8.2.1. Market Analysis
8.3. Europe SSGF Market Value, By Application, 2017-2027 (US$ Bn)
8.3.1. Market Analysis
8.4. Europe SSGF Market Value, By End-user, 2017-2027 (US$ Bn)
8.4.1. Market Analysis
8.5. Europe SSGF Market Value, By Region/Country, 2017-2027 (US$ Bn)
8.5.1. Market Analysis
8.5.2. U.K.
8.5.3. Germany
8.5.4. France
8.5.5. Rest of Europe

9. Asia Pacific Specialty Synthetic & Glass Fiber (SSGF) Market Analysis, 2017-2027 (US$ Bn)
9.1. Overview
9.1.1. Asia Pacific SSGF Market Value and Growth, 2017-2027, (US$ Bn)
9.2. Asia Pacific SSGF Market Value, By Material type, 2017-2027 (US$ Bn)
9.2.1. Market Analysis
9.3. Asia Pacific SSGF Market Value, By Application, 2017-2027 (US$ Bn)
9.3.1. Market Analysis
9.4. Asia Pacific SSGF Market Value, By End-user, 2017-2027 (US$ Bn)
9.4.1. Market Analysis
9.5. Asia Pacific SSGF Market Value, By Region/Country, 2017-2027 (US$ Bn)
9.5.1. Market Analysis
9.5.2. Japan
9.5.3. China
9.5.4. India
9.5.5. Rest of Asia Pacific

10. Rest of the World Specialty Synthetic & Glass Fiber (SSGF) Market Analysis, 2017-2027 (US$ Bn)
10.1. Overview
10.1.1. Rest of the World SSGF Market Value and Growth, 2017-2027, (US$ Bn)
10.2. Rest of the World SSGF Market Value, By Material type, 2017-2027 (US$ Bn)
10.2.1. Market Analysis
10.3. Rest of the World SSGF Market Value, By Application, 2017-2027 (US$ Bn)
10.3.1. Market Analysis
10.4. Rest of the World SSGF Market Value, By End-user, 2017-2027 (US$ Bn)
10.4.1. Market Analysis
10.5. Rest of the World SSGF Market Value, By Region, 2017-2027 (US$ Bn)
10.5.1. Market Analysis
10.5.2. Middle East & Africa
10.5.3. Latin America

11. Company Profiles
11.1. Owens Corning
11.2. Nippon Electrical Glass Co.
11.3. Honeywell International
11.4. Jushi Group Co. Ltd.
11.5. Toray Industries, Inc.
11.6. SGL Group
11.7. Mitsubishi Chemical Holdings Corporation
11.8. Hexcel Corporation
11.9. DuPont
11.10. Royal DSM

List of Figures

FIG. 1 Global Specialty Synthetic & Glass Fiber (SSGF) Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global SSGF Market Segmentation
FIG. 4 Global SSGF Market, by Material type, 2018 (US$ Bn)
FIG. 5 Global SSGF Market, by Application, 2018 (US$ Bn)
FIG. 6 Global SSGF Market, by End-user, 2018 (US$ Bn)
FIG. 7 Global SSGF Market, by Geography, 2018 (US$ Bn)
FIG. 8 Attractive Investment Proposition, by Geography, 2018
FIG. 9 Global Market Positioning of Key SSGF Market Vendors, 2018
FIG. 10 Global SSGF Market, by Material type, 2017–2027 (US$ Bn)
FIG. 11 Global SSGF Market, by Glass Fiber, Value, 2017–2027 (US$ Bn)
FIG. 12 Global SSGF Market, by Specialty Synthetic Fiber, Value, 2017–2027 (US$ Bn)
FIG. 13 Global SSGF Market, by Application, 2017–2027 (US$ Bn)
FIG. 14 Global SSGF Market, by Non-composite, Value, 2017–2027 (US$ Bn)
FIG. 15 Global SSGF Market, by Composite, Value, 2017–2027 (US$ Bn)
FIG. 16 Global SSGF Market, by End-user, 2017–2027 (US$ Bn)
FIG. 17 Global SSGF Market, by Automotive, Value, 2017–2027 (US$ Bn)
FIG. 18 Global SSGF Market, by Aerospace & Defense, Value, 2017–2027 (US$ Bn)
FIG. 19 Global SSGF Market, by Building & Construction, Value, 2017–2027 (US$ Bn)
FIG. 20 Global SSGF Market, by Wind Energy, Value, 2017–2027 (US$ Bn)
FIG. 21 Global SSGF Market, by Electrical & Electronics, Value, 2017–2027 (US$ Bn)
FIG. 22 Global SSGF Market, by Others, Value, 2017–2027 (US$ Bn)
FIG. 23 U.S. SSGF Market, 2017–2027 (US$ Bn)
FIG. 24 Rest of North America SSGF Market, 2017–2027 (US$ Bn)
FIG. 25 U.K. SSGF Market, 2017–2027 (US$ Bn)
FIG. 26 Germany SSGF Market, 2017–2027 (US$ Bn)
FIG. 27 France SSGF Market, 2017–2027 (US$ Bn)
FIG. 28 Italy SSGF Market, 2017–2027 (US$ Bn)
FIG. 29 Rest of Europe SSGF Market, 2017–2027 (US$ Bn)
FIG. 30 Japan SSGF Market, 2017–2027 (US$ Bn)
FIG. 31 China SSGF Market, 2017–2027 (US$ Bn)
FIG. 32 India SSGF Market, 2017–2027 (US$ Bn)
FIG. 33 Rest of Asia Pacific SSGF Market, 2017–2027 (US$ Bn)
FIG. 34 Middle East & Africa SSGF Market, 2017–2027 (US$ Bn)
FIG. 35 Latin America SSGF Market, 2017–2027 (US$ Bn)

List of Tables

TABLE 1 Market Snapshot: Global Specialty Synthetic & Glass Fiber (SSGF) Market
TABLE 2 Global SSGF Market, by Material type, 2017–2027 (US$ Bn)
TABLE 3 Global SSGF Market, by Application, 2017–2027 (US$ Bn)
TABLE 4 Global SSGF Market, by End-user, 2017–2027 (US$ Bn)
TABLE 5 Global SSGF Market, by Geography, 2017–2027 (US$ Bn)
TABLE 6 North America SSGF Market, by Material type, 2017–2027 (US$ Bn)
TABLE 7 North America SSGF Market, by Application, 2017–2027 (US$ Bn)
TABLE 8 North America SSGF Market, by End-user, 2017–2027 (US$ Bn)
TABLE 9 North America SSGF Market, by Country, 2017–2027 (US$ Bn)
TABLE 10 Europe SSGF Market, by Material type, 2017–2027 (US$ Bn)
TABLE 11 Europe SSGF Market, by Application, 2017–2027 (US$ Bn)
TABLE 12 Europe SSGF Market, by End-user, 2017–2027 (US$ Bn)
TABLE 13 Europe SSGF Market, by Country, 2017–2027 (US$ Bn)
TABLE 14 Asia Pacific SSGF Market, by Country/Region, 2017–2027 (US$ Bn)
TABLE 15 Asia Pacific SSGF Market, by Material type, 2017–2027 (US$ Bn)
TABLE 16 Asia Pacific SSGF Market, by Application, 2017–2027 (US$ Bn)
TABLE 17 Asia Pacific SSGF Market, by End-user, 2017–2027 (US$ Bn)
TABLE 18 Asia Pacific SSGF Market, by Country/Region, 2017–2027 (US$ Bn)
TABLE 19 RoW SSGF Market, by Material type, 2017–2027 (US$ Bn)
TABLE 20 RoW SSGF Market, by Application, 2017–2027 (US$ Bn)
TABLE 21 RoW SSGF Market, by End-user, 2017–2027 (US$ Bn)
TABLE 22 RoW SSGF Market, by Country/Region, 2017–2027 (US$ Bn)
TABLE 23 William Demant Holdings A/S.: Company Snapshot (Company Details, Geographical Presence, Material type Portfolio, Key Developments)
TABLE 24 Owens Corning: Company Snapshot (Company Details, Geographical Presence, Material type Portfolio, Key Developments)
TABLE 25 Nippon Electrical Glass Co. Ltd.: Company Snapshot (Company Details, Geographical Presence, Material type Portfolio, Key Developments)
TABLE 26 Honeywell International.: Company Snapshot (Company Details, Geographical Presence, Material type Portfolio, Key Developments)
TABLE 27 Jushi Group Co. Ltd.: Company Snapshot (Company Details, Geographical Presence, Material type Portfolio, Key Developments)
TABLE 28 Toray Industries, Inc.: Company Snapshot (Company Details, Geographical Presence, Material type Portfolio, Key Developments)
TABLE 29 SGL Group.: Company Snapshot (Company Details, Geographical Presence, Material type Portfolio, Key Developments)
TABLE 30 Mitsubishi Chemical Holdings Corporation.: Company Snapshot (Company Details, Geographical Presence, Material type Portfolio, Key Developments)
TABLE 31 Hexcel Corporation.: Company Snapshot (Company Details, Geographical Presence, Material type Portfolio, Key Developments)
TABLE 32 DuPont.: Company Snapshot (Company Details, Geographical Presence, Material type Portfolio, Key Developments)
TABLE 33 Royal DSM.: Company Snapshot (Company Details, Geographical Presence, Material type Portfolio, Key Developments)