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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