Asia Pacific Glass Fabric Market By Fiber Type(E/ECR-Glass Fiber, S-Glass Fiber, C-Glass Fiber, Others), By Product Type(Single-End Roving, Multi-End Roving, Woven Roving, Others), By Manufacturing Process(Hand Lay Up, Spray Up, Prepreg Lay Up, Injection Molding, Compression Molding, Resin Infusion, Others), By Application(Marine, Aerospace, Construction, Electrical and Electronics, Consumer Goods, Others), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024–2033

Report Overview

The global Asia Pacific Glass Fabric Market size is expected to be worth around USD 2453 Million by 2033, from USD 1440 Million in 2023, growing at a CAGR of 6.1% during the forecast period from 2023 to 2033.

The Asia Pacific glass fabric market is demonstrating significant growth, fueled by its wide-ranging applications across key automotive, aerospace, construction, and electronics industries. This market’s development is notably driven by the unique attributes of glass fabric, including its high tensile strength, resistance to heat, corrosion, and chemicals, and its non-flammable nature. These characteristics make it an essential material for various manufacturing needs and applications.

Technological advancements play a crucial role in the market’s expansion. Innovations are improving product efficiency and expanding the market reach of glass fabrics. Strategic activities by major industry players, such as mergers, acquisitions, and expansions into new markets, are pivotal in this growth. A notable example is Saint-Gobain’s acquisition of Twiga Fiberglass Ltd. in April 2023, aimed at enhancing the company’s production capabilities in India.

Another significant development is the introduction by Owens Corning of a new fiberglass insulation product in August 2022, which offers 23% faster installation than previous models. These examples illustrate a trend toward optimizing production processes and enhancing product capabilities within the industry.

The Asia Pacific region plays a critical role in the global supply chain for glass fabrics, underscored by its activities in import and export markets. Key economies such as Japan, China, and Taiwan are central to these dynamics, emphasizing the region’s strategic importance. The robust economic impact is further evidenced by detailed revenue forecasts which predict continued growth across various countries including China, Japan, India, South Korea, Australia, Indonesia, Malaysia, and Vietnam. This growth is supported by the region’s active engagement in enhancing manufacturing capacities and embracing technological innovations.

Regulatory frameworks also significantly influence the glass fabric market by setting manufacturing standards and ensuring environmental compliance. These regulations ensure that the production of glass fabric adheres to environmental, safety, and quality standards, thereby maintaining the integrity and sustainability of manufacturing processes.

By Fiber Type

In 2023, E/ECR-Glass Fiber held a dominant market position, capturing more than a 63.2% share of the Asia Pacific glass fabric market. This segment’s prominence is largely due to its superior properties, such as high strength, electrical resistance, and durability, which make it ideal for use in a range of applications including electronics, construction, and automotive industries. The E/ECR-Glass Fiber is particularly valued for its cost-effectiveness and excellent insulation properties, which have driven its adoption in both commercial and industrial settings.

S-glass fiber, known for its enhanced mechanical properties over other glass fibers, holds a niche but a significant portion of the market. It is particularly favored in aerospace and military applications for its high tensile strength and impact resistance. This fiber type is engineered for situations where performance and durability are critical, making it a preferred choice for high-end composites.

C-Glass Fiber, on the other hand, is utilized primarily for its chemical resistance properties. It finds extensive use in applications involving corrosive environments, such as chemical storage tanks and pipes. While it occupies a smaller share of the market compared to E/ECR-Glass, its specialized use in industrial applications supports steady demand.

By Product Type

In 2023, Single-End Roving held a dominant market position in the Asia Pacific glass fabric market, capturing more than a 39.6% share. This type of product is favored for its streamlined manufacturing process and cost-effectiveness, making it widely used in the production of composites for automotive and construction applications. Single-End Roving’s strength and simplicity of use enhance its popularity among manufacturers seeking efficiency in high-volume production settings.

Multi-End Roving also plays a critical role in the market, offering advantages in applications requiring high mechanical strength and durability. This product type is commonly used in the creation of large structural components, where multiple strands of glass fibers are combined to provide enhanced integrity and performance characteristics.

Woven Roving stands out for its application in more demanding mechanical environments, such as boat hulls and automotive body parts. This type of glass fabric provides exceptional strength and impact resistance, which is essential in products that endure significant stress and strain. Its market share is substantial, reflecting its importance in sectors that demand high-performance materials.

By Manufacturing Process

In 2023, Hand Lay Up held a dominant market position in the Asia Pacific glass fabric market, capturing more than a 28.8% share. This traditional method is highly favored for its flexibility and simplicity, allowing for the manufacture of complex shapes and sizes in composite construction, particularly in marine and automotive industries. Hand Lay Up is renowned for its cost-effectiveness and the high-quality finishes it can achieve, making it ideal for small-scale or custom projects.

Spray Up follows closely, utilized extensively in creating large, less complex shapes such as boat hulls and automotive components. This process is valued for its rapid application and ability to cover large areas quickly, which significantly reduces labor costs and production time.

Prepreg Lay Up is another key segment, known for its precision and high-quality output. This method uses pre-impregnated fibers with resin, cured under heat and pressure, leading to components that are lightweight yet extremely strong. Prepreg Lay Up is predominantly used in aerospace and high-performance automotive sectors where material consistency and structural integrity are paramount.

Injection Molding is notable for its ability to produce complex and detailed shapes with excellent surface finish and high production rates. This process is particularly popular in the mass production of intricate parts for the automotive and consumer electronics industries.

Compression Molding also plays a significant role, especially in making large industrial components like automotive panels or electrical insulators. This process is appreciated for its ability to mold large, fairly intricate parts with good dimensional stability and repeatability.

Resin Infusion, known for its environmental advantages and superior mechanical properties, involves drawing resin into a dry fiber layup under vacuum pressure. It’s widely used in the wind energy sector for producing large, high-strength, and lightweight turbine blades.

By Application

In 2023, Marine held a dominant market position in the Asia Pacific glass fabric market, capturing more than a 28.9% share. This segment benefits significantly from the high strength-to-weight ratio of glass fabric, which is crucial for manufacturing boats and other marine structures. The material’s resistance to water and corrosion makes it ideal for this environment, enhancing the durability and longevity of marine vessels.

The Aerospace segment also shows substantial utilization of glass fabric due to its lightweight and robust properties, which are vital for reducing overall aircraft weight and improving fuel efficiency. Aerospace applications demand materials that can withstand extreme conditions, and glass fabric meets these requirements effectively.

In Construction, glass fabric is used to reinforce materials like concrete and plastics, contributing to stronger, more resilient building materials. This application leverages the fabric’s mechanical strength and resistance to environmental factors, making it a popular choice for both residential and commercial construction projects.

The Electrical and Electronics segment utilizes glass fabric for its excellent insulative properties, which are essential in preventing electrical hazards and enhancing the performance of electronic devices. Glass fabric’s thermal resistance also plays a critical role in managing heat within electronic components, thereby extending their operational life.

Consumer Goods is another significant application area where glass fabric is incorporated into a variety of products, from household items to sporting goods, due to its versatility and durability. This sector appreciates the adaptability of glass fabric to various product demands, including aesthetic finishes and structural integrity.

Key Market Segments

By Fiber Type

• E/ECR-Glass Fiber
• S-Glass Fiber
• C-Glass Fiber
• Others

By Product Type

• Single-End Roving
• Multi-End Roving
• Woven Roving
• Others

By Manufacturing Process

• Hand Lay Up
• Spray Up
• Prepreg Lay Up
• Injection Molding
• Compression Molding
• Resin Infusion
• Others

By Application

• Marine
• Aerospace
• Construction
• Electrical and Electronics
• Consumer Goods
• Others

Drivers

Expansion of the Wind Energy Sector in the Asia Pacific

A significant driving factor for the Asia Pacific glass fabric market is the rapid expansion of the wind energy sector. The region has witnessed remarkable growth in renewable energy installations, particularly in wind energy, which has considerably increased the demand for glass fabrics. These materials are crucial in manufacturing wind turbine blades due to their high strength-to-weight ratio and resistance to environmental factors.

In 2021, the renewable energy capacity in the Asia Pacific reached approximately 1020.23 GW, marking an increase from 899.62 GW in 2020. This growth represents a 17.9% year-on-year increase, primarily driven by significant advancements in the solar and wind energy segments. Such expansion is supported by substantial governmental initiatives aimed at boosting the region’s renewable energy output, with several large-scale projects underway​.

Governments across the Asia Pacific are actively promoting renewable energy through various incentives and subsidies, emphasizing the development of wind power. For instance, China and India have been leading in this initiative with their ambitious renewable energy targets and supportive policies. These government efforts are not only aimed at enhancing energy security and reducing carbon emissions but also at fostering the domestic industries that manufacture components for renewable energy systems, including glass fibers.

The demand for glass fabrics is also spurred by the need for durable materials in the construction of wind turbines. Glass fabric’s properties such as high tensile strength, durability, and resistance to harsh weather conditions make it an ideal choice for this application. Wind turbines require materials that can withstand the dynamic stresses of wind energy production, and glass fabrics meet these requirements efficiently.

Furthermore, the ongoing technological advancements in wind turbine design are focusing on increasing the efficiency and lifespan of these systems, which in turn drives the demand for high-quality materials like glass fabrics. Manufacturers in the Asia Pacific region are leveraging these materials to enhance the performance and reliability of wind turbines, contributing to the overall growth of the renewable energy sector.

Restraints

High Production Costs as a Major Restraining Factor in the Asia Pacific Glass Fabric Market

One of the major restraining factors for the growth of the Asia Pacific glass fabric market is the high production costs associated with manufacturing glass fibers. This is primarily due to the complex manufacturing processes involved, which require significant energy consumption and the use of specialized, costly materials.

The production of glass fabrics, such as those used in wind energy, aerospace, and automotive applications, involves energy-intensive processes that significantly increase overall production costs. Additionally, the need for high-quality raw materials and advanced technology to produce durable and high-performance glass fabrics further escalates expenses. These factors make the production of glass fabrics capital-intensive and can inhibit the growth of the market, especially in regions where cost efficiency is a primary concern.

Moreover, the glass fabric industry faces additional financial burdens due to stringent environmental regulations. These regulations necessitate investments in cleaner production technologies and waste management systems to mitigate environmental impacts, which can be costly for manufacturers. The need to comply with these environmental standards, while maintaining product quality and profitability, poses a significant challenge to market growth.

In summary, the high cost of production, driven by energy-intensive manufacturing processes, expensive raw materials, and the need to comply with environmental regulations, stands as a critical barrier to the expansion of the Asia Pacific glass fabric market. These factors collectively contribute to the complex economic landscape within which glass fabric manufacturers operate, affecting their ability to scale effectively and competitively in this dynamic market.

Opportunity

Renewable Energy Expansion in Asia Pacific

The expansion of renewable energy presents a significant growth opportunity for the Asia Pacific glass fabric market. The region has seen a rapid increase in renewable energy capacity, primarily driven by government initiatives aimed at achieving carbon neutrality and reducing dependence on fossil fuels.

These initiatives are part of a broader strategy to embrace sustainable energy solutions, which significantly benefit the glass fabric industry, especially in applications like wind turbine manufacturing.

From 2017 to 2022, the Asia-Pacific renewable energy market experienced a compound annual growth rate (CAGR) of 9.2%, reaching a market size of $228.1 billion in 2022. The production volume of renewable energy during the same period followed a similar trend with a CAGR of 9.7%, indicating robust growth and sustained investment in this sector​.

Countries like Japan have set ambitious targets for renewable energy, aiming to triple their renewable energy share from 20% to 50-60% by 2050, with specific goals for offshore wind power. China, the world’s largest energy consumer and greenhouse gas emitter, has also made significant commitments to renewable energy, setting a target to become carbon neutral by 2060. Such commitments have led to a surge in investments in renewable sectors, surpassing those in traditional energy sectors​.

The increasing reliance on renewable energy sources is driving the demand for materials that are durable, efficient, and capable of withstanding the harsh conditions of renewable energy production. Glass fabrics are particularly suited to this role, given their strength, durability, and resistance to environmental factors, making them ideal for manufacturing components like wind turbine blades and solar panels. The continued expansion in the renewable energy sector, therefore, represents a substantial opportunity for growth in the glass fabric market in the Asia Pacific region.

Trends

Increasing Competitiveness of Renewable Energy in the Asia Pacific Glass Fabric Market

One of the major recent trends in the Asia Pacific glass fabric market is the increasing competitiveness of renewable energy, particularly in the context of global energy transitions. As the Asia Pacific region advances towards greater sustainability, the renewable energy sector is experiencing significant growth, driven by both governmental initiatives and market dynamics.

The Asia Pacific region is witnessing a substantial increase in renewable energy capacity, supported by aggressive government targets and investments. For instance, countries like China and India have set ambitious goals to expand their renewable energy sectors, which are facilitating a higher demand for glass fabrics used in applications such as wind turbines and other renewable energy infrastructures.

Despite recent challenges such as cost inflation due to supply chain disruptions and increased demand, renewable energy sources like solar and wind are becoming more cost-effective compared to traditional fossil fuels. This shift is partly because of the rising costs of coal and gas power, which have made renewable sources more attractive. Last year, the levelized cost of electricity (LCOE) for new solar projects in Asia Pacific increased by 9%, and for onshore wind projects by 2%. Despite these increases, renewable energy remained more competitive due to even higher cost surges in fossil fuels​.

Moreover, the region is positioned to become a global leader in low-carbon technologies, with nearly half of the world’s new technology opportunities for low-carbon emissions expected to be in the Asia Pacific by 2050. This transition includes a significant role for hydrogen, which is projected to account for up to 12% of the final energy demand by 2050 in a net-zero scenario.

Key Players Analysis

The Asia Pacific glass fabric market features a diverse array of key players that significantly influence its growth and development. Major companies such as Binani Industries Limited, China Jushi Co. Ltd., and China National Building Material Company Limited lead the market with substantial production capacities and advanced manufacturing technologies.

Chongqing Polycomp International Corp. (CPIC) and Colan Products Pty Limited also hold significant market shares, contributing to the industry’s expansion through innovation and strategic partnerships. Notably, Jiangsu Changhai Composite Materials Co. Ltd and Jiangxi Dahua Fiberglass Group Co. Ltd are recognized for their extensive product portfolios and strong regional presence.

Prominent multinational corporations, including Johns Manville, Nippon Electric Glass Co. Ltd., Nitto Boseki Co. Ltd., Owens Corning, and SAINT GOBAIN S.A., bring advanced technological expertise and global market strategies to the region.

Companies like Sichuan Weibo New Material Group Co. Ltd., Taishan Fiberglass Inc. (CTG), Taiwan Glass Ind. Corp., Xingtai Jinniu Fiberglass Co. Ltd, and Yuntianhua Group Co. Ltd. bolster the market with their robust production capabilities and innovative product developments. The presence of these key players underscores the competitive landscape of the Asia Pacific glass fabric market, characterized by continuous advancements and strategic initiatives aimed at capturing greater market share.

Market Key Players

• Binani Industries Limited
• China Jushi Co. Ltd.
• China National Building Material Company Limited
• Chongqing Polycomp International Corp. (CPIC)
• Colan Products Pty Limited
• Goa Glass Fibre Limited
• Jiangsu Changhai Composite Materials Co. Ltd
• Jiangxi Dahua Fiberglass Group Co. Ltd.
• Johns Manville
• Nippon Electric Glass Co.Ltd.
• Nitto Boseki Co. Ltd.
• Owens Corning
• Regina Glass Fibre Pty Ltd
• SAINT GOBAIN S.A.
• Sichuan Weibo New Material Group Co. Ltd.
• Taishan Fiberglass Inc. (CTG)
• Taiwan Glass Ind. Corp.
• Xingtai Jinniu Fiberglass Co. Ltd
• Yuntianhua Group Co. Ltd.

Recent Development

In 2023 Binani Industries Limited The company reported revenue of INR 2.8 million, marking a significant change from previous periods. This data highlights the dynamic nature of their operations and the challenges faced in maintaining steady growth in the competitive glass fabric sector.

In 2023 China Jushi Co. Ltd, showcased a mixed outlook, with annual revenue amounting to CNY 14,875.8 million, a decline from the previous year’s CNY 20,192.22 million. The company’s net income also saw a reduction to CNY 3,044.44 million from CNY 6,610.02 million in 2022​​​​​.

Report Scope