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.
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.
