Fibreglass: America Falters While Asia Booms

The fibreglass market is registering constant growth rates worldwide, which at 4.2% are almost double the average GDP growth of the industrialised nations, according to data from Glasstec 2004. In geographical terms, the market is divided into three approximately equal areas, namely, North America (33%); Europe (32%); and Asia (30%). However, Asia is enjoying the highest rate of growth, with average rates of 7%, while Europe only has growth rates of 4%, and North America's growth is a paltry 2%. This is because the electronics sector in Europe and North America in particular has been declining in significance for several years as manufacturing is transferred to Asia.