North America Glass Fiber Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Fiber Type, Product Type, Application, and Manufacturing Process

The North America glass fiber market is expected to grow from US$ 3,400.45 million in 2020 to US$ 4,588.68 million by 2027; it is estimated to grow at a CAGR of 4.4% from 2020 to 2027. The growing demand of fiberglass composites from the automotive industry is expected to surge the market in coming years. The automotive industry uses number of materials such as iron, aluminum, plastic, steel, and glass to build cars and other vehicles. Fiberglass composite is extensively used as a substitute for aluminum and steel due to its lightweight, high tensile strength, and superior corrosion resistance. All these properties of fiberglass composite are important in automobile manufacturing. Fiberglass composites are utilized in the production of several vehicle parts, especially of sports cars, where weight is crucial. They are mainly used in front and rear bumpers, doors, hoods, and casings. They are also used in the timing belts and V-belts, where glass strings are impregnated with rubber as reinforcement. Fiberglass is also used in vehicle tire reinforcement. Fiberglass reinforced tire provides a greater resistance to damage, better stability, lower reinforcement cost, and a good overall performance in long distance driving. This material is also used in brake pads and clutches, owing to its high abrasion resistance. Fiberglass composites are utilized in the manufacturing of parts for trains and trams. Almost the entire outer body of some modern trains and buses is made of fiberglass composites. They are also used utilized in creation of interior parts. Higher strength-to-weight ratio and great fire resistance properties have made them suitable for high-speed applications. In addition, stringent regulations have been imposed on the automotive industry to reduce carbon dioxide emissions. This has encouraged the industry to introduce fuel-efficient lightweight vehicles to help reduce greenhouse gas emissions. Vehicles built using fiberglass composites deliver higher mileage and enhance fuel efficiency. Thus, the rising demand for lightweight materials, along with government initiatives to reduce the harmful gas emissions and increase fuel efficiency, is expected to drive the North America glass fiber market in automotive applications.
In case of COVID-19, North America is highly affected specially the US, which got the highest number of confirmed cases of COVID-19 as compared to Mexico and Canada.This is likely to impact the chemical and materials industry in the region as, due to the COVID-19, the supply chain is likely to get affected.

In addition, the overall manufacturing processes, research, and development activities will also impact market growth. The North American chemical and materials industry is one of the major industries that is suffering serious disruptions such as supply chain breaks, technology events cancellations, office shutdowns etc. because of this outbreak. In addition to this, the global travel bans imposed by countries across North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the chemical and materials industry in a negative manner and thus act as restraining factor for the growth of various markets related to this industry in the coming months.
The E/ECR-glass fiber segment led the North America glass fiber market based on fiber type in 2019.E-glass is an "electronic" glass and is one of the leading types of glass fibers with properties such as high-strength, good insulation, water-resistance, and corrosion resistance.

E-glass fibers are the most extensively used of all fibrous reinforcements and fiber-reinforced composites due to their reasonable cost, low elastic moduli and early development than other glass fibers.On the other hand, ECR glass is like E-glass but without fluorine and boron.

ECR glass fibers are environmentally friendly, excellent acid-resistance, water-resistance, temperature resistance, and alkali-resistance.Besides, ECR Glass fiber has excellent dielectric strength, lower electrical leakage, and greater surface resistance.

These given advantages are expected to increase the demand of E/ECR-glass fiber, thereby driving the North America glass fiber market.
The overall North America glass fiber market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the North America glass fiber market.

The process also serves the purpose of obtaining overview and forecast for North America glass fiber market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America glass fiber market. China Jushi Co., Ltd.; Chongqing Polycomp International Corp. (CPIC); Johns Manville; Nippon Electric Glass Co.,Ltd.; Owens Corning; SAINT GOBAIN S.A.; and Taishan Fiberglass Inc. (CTG) are among a few players operating in the North America glass fiber market.