Global Glass Fiber Veils Market Outlook
Revenue, 2024
Forecast, 2034
CAGR, 2024 - 2034
Glass Fiber Veils are crafted from glass fibers arranged haphazardly and bonded with a binder substance. They provide a smooth surface finish. Boost the transparency of laminates while also increasing resistance to corrosion. These qualities make them well suited for uses such as surface veils in composites in insulation materials as battery separators and, in filtration media applications.
Market Key Insights
- The Glass Fiber Veils market is projected to grow from $757.1 million in 2024 to $1.50 billion in 2034. This represents a CAGR of 7.1%, reflecting rising demand across Reinforcement in Composite Materials, Surface Veils for Corrosion Resistance and Insulation in Electrical.
Owens Corning, Saint-Gobain Vetrotex, and Jushi Group are among the leading players in this market, shaping its competitive landscape.
- U.S. and China are the top markets within the Glass Fiber Veils market and are expected to observe the growth CAGR of 4.6% to 6.8% between 2024 and 2030.
- Emerging markets including Brazil, Indonesia and South Africa are expected to observe highest growth with CAGR ranging between 8.2% to 9.8%.
Transition like Emergence of Advanced Technologies is expected to add $99.1 million to the Glass Fiber Veils market growth by 2030
- The Glass Fiber Veils market is set to add $746 million between 2024 and 2034, with manufacturer targeting Electronics & Automotive Applications projected to gain a larger market share.
- With
increasing demand in construction sector, and
technological advancements in manufacturing processes, Glass Fiber Veils market to expand 99% between 2024 and 2034.
Opportunities in the Glass Fiber Veils
In regions like Asia Pacific where urbanization and industrialization are rapidly evolving the construction and infrastructure sectors are witnessing a rising interest in Glass Fiber Veils usage due to the increasing demand observed in emerging markets these days creating an opportunity for manufacturers of Glass Fiber Veils with untapped potential that holds promise, for growth.
Growth Opportunities in North America and Asia-Pacific
North America Outlook
North America, particularly the United States, is a major market for Glass Fiber Veils. The regions robust industrial sector, coupled with the high demand for advanced materials in industries such as automotive, aerospace, and construction, drives the market. The presence of key players like Owens Corning and Johns Manville further intensifies the competition. However, this also opens up opportunities for collaborative efforts and technological advancements. The push for energy-efficient buildings and the growing adoption of lightweight materials in the automotive industry are key drivers propelling the demand for Glass Fiber Veils in this region.
Asia-Pacific Outlook
The Asia-Pacific region, led by China and India, is a rapidly growing market for Glass Fiber Veils. The regions growth is fueled by its expanding construction and automotive sectors, which extensively use Glass Fiber Veils for reinforcement purposes. The competition in this region is marked by both international and local players, providing a diverse range of products. The increasing focus on infrastructure development and the rising demand for fuel-efficient vehicles are significant drivers for the Glass Fiber Veils market in this region. The growing emphasis on renewable energy, particularly wind energy, where Glass Fiber Veils are used in wind turbine blades, also presents a promising opportunity for market expansion.
Market Dynamics and Supply Chain
Driver: Increasing Demand in Construction Sector, and Rise in Automotive Applications
The Glass Fiber Veils sector is also also experiencing effects from progressions in production methods. Cutting edge technologies allow manufacturers to create Glass Fiber Veils with upgraded characteristics like increased tensile strength and resistance to corrosion. These developments are also broadening the scope of uses, for Glass Fiber Veils. Contributing to the expansion of the market.
Restraint: High Production Cost
Opportunity: Expanding Applications in Automotive Industry and Technological Innovations in Material Science
Significant technological advancements in material science have resulted in the creation of Glass Fiber Veils with improved properties and characteristics. The expanding application range of Glass Fiber Veils is creating opportunities for growth within the industry. One promising area is the production of high performance Glass Fiber Veils designed for utilization, in wind energy systems.
Challenge: Environmental Concerns
Supply Chain Landscape
Owens Corning
Jushi Group
Nippon Electric Glass
Chomarat
Saint-Gobain
Johns Manville
Composites One
Nexeo Solutions
Automotive
Construction
Electronics
Owens Corning
Jushi Group
Nippon Electric Glass
Chomarat
Saint-Gobain
Johns Manville
Composites One
Nexeo Solutions
Automotive
Construction
Electronics
Applications of Glass Fiber Veils in Reinforcement in Composite Materials, Surface for Corrosion Resistance & Insulation in Electrical
Glass Fiber Veils are predominantly used in the reinforcement of composite materials. These veils, particularly those with a high modulus, provide enhanced strength and stability to the composite structure. The unique advantage of using Glass Fiber Veils in this application is the improved impact resistance and durability of the composite materials. Top players in this application include companies like Owens Corning and Jushi Group, both renowned for their high-quality glass fiber veils and their strong market position.
Another significant application of Glass Fiber Veils is in the production of surface veils for corrosion resistance. The veils, especially those made from E-glass fibers, offer excellent resistance to corrosion, thus extending the lifespan of the product. Companies like Saint-Gobain and Nippon Electric Glass hold a dominant market position in this application, thanks to their innovative and high-performing products.
Glass Fiber Veils are also widely used for insulation in electrical applications. These veils, typically crafted from high-quality E-glass or C-glass fibers, deliver superior electrical insulation, ensuring both safety and operational efficiency in various electrical systems. The unique advantage of employing Glass Fiber Veils in this context lies in their exceptional dielectric strength and remarkable thermal resistance, making them ideal for protecting sensitive components, preventing electrical faults, and enhancing the longevity and reliability of electrical equipment in industrial, commercial, and residential settings.
Recent Developments
Leading manufacturer Saint-Gobain Vetrotex expanded its production capacity for Glass Fiber Veils in its North American facility to meet the growing demand in the construction and automotive sectors
Owens Corning, a key provider in the market, launched a new range of Glass Fiber Veils, designed to offer superior strength and flexibility, marking a significant advancement in the industry
Jushi Group Co., Ltd. entered into a strategic partnership with a major European automotive manufacturer to supply high-quality Glass Fiber Veils, showcasing the increasing application of the product in the automotive industry.
In recent years, the market for Glass Fiber Veils has experienced significant growth, fueled by advancements in technology and expanding applications across various industries. This lightweight, non-woven product has been increasingly utilized in industries such as construction, automotive, and electronics due to its superior properties such as high tensile strength, corrosion resistance, and thermal insulation.