A recent report ongoing study by Infinium Global Research on the fiberglass composites market provides in-depth analysis of segments and sub-segments in the BRICS as well as regional fiberglass composites market. The study also highlights the impact of drivers, restraints, and macro indicators on the BRICS and regional fiberglass composites market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the BRICS fiberglass composites market. According to the report, the BRICS fiberglass composites market is projected to grow at a significant CAGR over the forecast period of 2022-2028
The BRICS fiberglass composites market was valued with a significant CAGR during the forecast period. Fiberglass composites are made of a mix of plastics, glass, and wood fibers. As a result, the energy efficiency of a composite frame depends on the materials it's a product of. Fiberglass is of assorted types a number of them are Roving Fiberglass, Chopped Fiberglass, Yarn Fiberglass, and Others. Composites are also called as Fiber-Reinforced Polymer composites and are made of a polymer matrix that's reinforced with an engineered, man-made, or natural fiber or other reinforcing material. Fiberglass composite is made by combining two or more materials that have quite different properties. The various materials work together to administer the composite unique properties.
Improvement in the manufacturing sector along with huge investment in industrial infrastructure has helped to boost the development of fiberglass technologies significantly, in the BRICS countries. Several key international fiberglass players like Owens Corning and Saint-Gobain, and Creative Pultrusion have opened their manufacturing base in India which is a major part of the BRICS region. The availability of raw materials in large quantities is also helping to propel the expansion of the market during the forecast period. The demand for lightweight vehicles is largely driven by regulatory authorities pushing for fuel efficiency and compliance with emission norms. The demand for lightweight, durable materials for automotive components is the major driver propelling the growth of the BRICS fiberglass composites market during the forecast period. However, the rising cost of raw materials and insulation, along with the threat of substitutes for fiberglass is also a growing concern in the fiberglass composites market in the region
In terms of region, the BRICS fiberglass composites market is segmented into Brazil, Russia, India, China, and South Africa. Russia holds the biggest market share, because of the rising manufacturing of defense infrastructure in the region. Increasing presence and investment in Research and Development from major players in this sector will enhance the market growth in the BRICS region. Moreover, the rising utilization of fiberglass in the automotive sector in Brazil due to its high durability will drive the growth of the BRICS region. India and China are expected to dominate the market during the forecast period as the countries are the largest market for composite raw materials. The rising developments in the construction, automotive, and several other industries will propel the growth of the market in the BRICS region.
The report on the BRICS fiberglass composites market covers segments such as type, and application. On the basis of type, the sub-markets include roving fiberglass, chopped fiberglass, yarn fiberglass, and others. On the basis of application, the sub-markets include construction, automotive, and others.
The report provides profiles of the companies in the market such as Braj Binani Group, Jiangsu Changhai Composite Materials Co. Ltd, Kemrock Industries and Exports Limited, Chongqing Polycomp International Corp., China Beihai Fiberglass Co. Ltd., Saint-Gobain India Private Limited, Sichuan Weibo, Saertex India Pvt. Ltd., Taishan Fiberglass Inc, and Owens Corning India Ltd.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the BRICS fiberglass composites market. Moreover, the study highlights current market trends and provides forecast from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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