The growth of the worldwide glass fibres market will be driven by a recovery in the global economy and improving prospects in various end use markets, specifically construction and automotive, according to a new study "Glass Fibres" from Global Industry Analysts Inc. Technological advancements and material improvements, as well as enormous potential in Asia, particularly China and India, are likely to foster further growth in the glass fibre market. Glass fibre has contributed significantly to facilitating advancements in construction and automotive applications. The product's versatile performance and low cost has made it a leading reinforcement fibre in the manufacture of plastic products. With the recession affecting all sectors of the industry, the demand for fibre witnessed a downward slide, particularly in N America and Europe. However, the industry is registering a steady rise in demand as the global economy moves towards complete recovery. The Asia-Pacific region is the driving foce for the glass fibre market and is expected to benefit immensely from the construction boom in developing countries. Glass wool's superior sound adsorption and thermal conductivity properties allow its extensive use int eh construction industry. In addition to the construction sector, the segment is witnessing sustained demand from basic as well as high-tech industries such as electronics, auto, construction, and aircraft. The expanding use of textile glass fibres in electronic and electrical, and telecommunication sectors offers growth opportunities for glass fibre market participants. In the US, the demand for textile glass fibres is expected to grow at a steady rate led by emerging opportunities in the field of reinforced plastics, as well as asphalt construction products such as shingles. However, growth in US markets is limited due to the growing maturity of various end-use applications and the rising threat of low-cost imports from Asian countries, specifically China.
