Lucintel's Analysis of Global Glass Fiber Textiles Industry: Market to Reach US $4 Billion by 2017
The global glass fiber textile industry experienced significant growth in 2011 and is expected to continue that trend, reaching approximately $4 billion in 2017 with a CAGR of 7 % over the next five years.
- Corpus Christi, TX (1888PressRelease) December 12, 2012 - Economic recession and the downturn in the key market segments in 2009 caused the market to decline in 2009 compared to 2008; in 2010, however, the market witnessed double-digit growth over 2009 followed by 8.9% in 2011.
Lucintel, a leading global management consulting and market research firm, has analyzed the global carbon fiber market and presents its findings in "Global Glass Fiber Textile Market 2012-2017: Supply, Demand, and Opportunity Analysis."
Although volatility in fuel prices poses a challenge to the glass fiber textile industry, it is expected to meet this challenge. Demand for durable, lightweight, and non-corrosive components, coupled with lower prices of glass fiber textile (GFT) compared to competing materials is anticipated to drive growth through 2017.
Lucintel's research indicates that as a competitor to traditional materials such as iron, steel and aluminum, GFT has gained favor among equipment manufacturers for superior performance. The growth rate of the GFTs differed across the various market segments based on price versus performance criteria and its level of penetration in the particular application.
Lucintel expects higher market fragmentation in the future and increasingly competitive markets are likely to emerge. Companies with innovative capabilities are anticipated to thrive and gain market share. The aerospace, marine, and wind energy industries are expected to experience healthy growth during 2012-2017. Significant differences in growth potential among the application markets and regions exist, and yield better-than-average returns for suppliers that are best positioned accordingly. In the long term, the glass fiber textiles industry is a sustainable industry with good growth potential.
The report, which provides trend scenarios and forecast statistics for 2012-2017; details industry drivers and challenges; and highlights glass fiber market by product, applications and regions. The study also describes various glass fiber properties, manufacturing processes, and provides additional insight into this growing industry.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk ( @ ) lucintel dot com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit www.lucintel.com.