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

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

  • July 2021
  • 106 pages
  • ID: 6134786
  • Format: PDF
  • The Insight Partners


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The SAM glass fiber market is expected to grow from US$ 950.38 million in 2020 to US$ 1,199.94 million by 2027; it is estimated to grow at a CAGR of 3.4% from 2020 to 2027. The mounting development of advanced glass fibers for the wind energy industry is expected to drive the market growth in coming years. The demand for renewable energy sources is increasing due to decline in fossil fuel capacity. Wind energy is one of the most important renewable energy sources. Increase in use of renewable energy sources has led to a surge in demand for wind farms, with large tracts of land and coastal areas devoted to the installation and operation of wind turbines. The companies operating in the market have discovered that the longer the blades are on a turbine, the more energy can be generated, and thus, the wind turbine manufacturers strive to produce more efficient and longer blades. Advanced composite materials such as E-Glass and S+R Glass are a growing part of the construction of wind turbines, specifically the blades. Low density, excellent corrosion resistance, good mechanical properties, tailorability of material properties, and versatility of fabrication methods have made them suitable for wind turbine rotor blades. They show higher stiffness and provide high strike resistance, compressive strength, and ultimate strain, resulting into thinner, stiffer, and lighter blades. The high stiffness of glass fiber reduces blade deflection, allowing a larger tower diameter for a given blade-to-tower clearance. Glass fiber composites are used in the nacelle, which is the most important component of wind turbine. Since one type of fiber does not have all the desired properties, turbine manufacturers are innovating new and improved composites for turbines. For example, glass/carbon hybrid composite. Such composites can provide the required strength and stiffness with improved impact resistance while keeping the weight less and cost down. Development of advanced glass fiber such as composites is expected to fuel the SAM glass fiber market growth in coming years.
In case of COVID-19, SAM is highly affected specially Brazil which got the highest number of COVID-19 cases, followed by Argentina, Peru, Chile, and Ecuador, among others.The government of SAM has taken an array of actions to protect their citizens and contain COVID-19’s spread.

It is anticipated that SAM will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to China, Europe, and the United States, which are important trade partners.Containment measures in several countries of SAM will reduce economic activity in the manufacturing and service sectors for at least the next quarter, with a rebound once the epidemic is contained.

As a result of this outbreak, the chemical and materials industry across SAM region is one of the major industries experiencing severe disruptions such as supply chain disruptions, technology event cancellations, office shutdowns, and so on.
The compression molding segment led the SAM glass fiber market based on manufacturing process in 2019.Compression molding is a closed-mold composite manufacturing method that produces composite parts with the optimal mechanical characteristics possible from the mixture of constituent materials.

This molding process is a suitable fabrication system to produce uniform quantities of complex, high-strength composite structures of fiberglass.The compression molding method yields an extremely integral composite structure with fewer knit lines and less fiber-length degradation than injection molding.

Several advantage of compression molding given in the paragraph are expected to increase its demand in coming years, thereby driving the SAM glass fiber market.
The overall SAM 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 SAM glass fiber market.

The process also serves the purpose of obtaining overview and forecast for SAM 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 SAM glass fiber market. China Jushi Co., Ltd.; Chongqing Polycomp International Corp. (CPIC); Owens Corning; SAINT GOBAIN S.A.; and Taishan Fiberglass Inc. (CTG) are among a few players operating in the SAM glass fiber market.

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