E-Glass Yarn Market

Market Overview

The global E-Glass yarn market revenue was valued at USD 2,718 million in 2021 and is projected to reach USD 4,414 million by 2030, registering a CAGR of 4.5% during the forecast period (2022–2030). Due to carbon neutrality initiatives, the increasing demand for wind turbine installations worldwide will create new opportunities during the forecast period. The glass-fiber production sector has seen significant changes in the last two years, with the emergence of new companies, primarily in China, and market concentration and/or consolidation.

E-glass fiberglass yarns are the most basic binding element in all electrical insulation and fireproofing systems. E-glass fiber, also known as electrical grade yarn, is widely used in the aerospace, construction, industrial, wind energy, pipes and tanks, electrical and electronics, and automotive industries due to its exceptional properties, which make it capable of enhancing the overall performance of the product while providing properties such as electrical insulation, dimensional stability, and fire resistance.

Highlights

• Piled yarn dominates the market by yarn type.
• The other segments dominate the market by grade. 
• Building and construction dominate the market for end-users.
• Asia-Pacific dominates the global market.

Market Dynamics

E-Glass Yarn Market Drivers

Demand for E-glass Yarn in the Construction Sector

The construction industry has expanded as governments prioritize infrastructure development after the pandemic. Increased demand for E-glass yarn products is a consequence of the need to increase the durability and integrity of structural components. These E-glass yarns provide superior thermal and electrical insulation, heat resistance, and dimensional stability. E-glass yarn products require less maintenance than traditional wood decking and railings. In addition, they are used to manufacture insulated wall panels, bridge spans, bridge railings, sanitary equipment, doors, and windows. 

Demand for Printed Circuits, Semiconductors

Increasing demand for semiconductors and printed circuits, as well as the growth of the telecommunications industry, are anticipated to drive the demand for E-glass fibers. Along with E-glass yarn's primary advantages of outstanding electric conductivity and the capacity for high-speed data transmissions, this is anticipated to fuel the market's growth.

In addition, using knitted fabrics and developing laminates for marble and other natural stone surfaces are major market trends for E-glass yarn. Along with the rising demand for stone laminated, it is anticipated that the elasticity and resistance to all types of forces offered by E-glass fibers in the weaving of fabrics will contribute to the market's growth. 

E-Glass Yarn Market Restraints

Issues Regarding E-glass Yarn Recycling

E-glass fabric is an effective insulator. As recycling is difficult, the E-glass textile market faces a significant challenge. When disposing of E-glass yarn material, appropriate disposal methods and using PPE attire are essential for employees' physical safety in the disposal process. Emerging nations lack the infrastructure and recycling practices to dispose of E-glass yarn, resulting in substantial waste securely. 

Capital-Intensive Production and Intricate Manufacturing Process

The production of glass fiber filament is extremely capital-intensive and requires substantial investments. Developing new technologies for producing low-cost glass fiber yarns is necessary to commercialize the final products. Production and development initiatives aim to reduce production costs of glass fiber yarns using innovative technologies and process solutions. According to industry experts, the production procedure for glass fiber yarn is intricate and time-consuming compared to other products. Governments, research labs, and glass fiber manufacturers view the development of low-cost and simple technologies for the commercial production of low-cost fiberglass fiber yarn as a significant challenge.

E-Glass Yarn Market Opportunities

Demand for Alternative Fuel Sources

As the world's capacity to produce fossil fuels declines, the demand for alternative fuel sources grows. Wind energy is one of the primary renewable energy sources. Increasing demand for wind energy is driving the growth of the glass fiber yarn market. Glass fiber filament is utilized in wind turbine components. Glass-fiber-constructed wind turbine blades are more durable and resist corrosion and fatigue failure.

The Global Wind Energy Council (GWEC) estimates that by 2035, wind power will account for 25% of the world's electricity production. Wind energy is a viable option for producing power due to its minimal cost.

Regional Analysis

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Asia-Pacific Dominates the Global Market

Asia-Pacific held the largest market share and is anticipated to grow at a CAGR of 5.7% during the forecast period. India, China, Japan, and South Korea are the main countries in the Asia-Pacific region, propelling regional market growth due to their high market penetration and rapid development in the construction industry. According to estimates, the regional market expansion will be fueled by the region's rapid urbanization growth and rising demand from the transportation, industrial, and construction sectors. As the global demand for renewable energy sources rises, these products are anticipated to play a significant role in expanding the Asia-Pacific market due to the cost-effective production of large wind turbines for various climates and regions. The Asia-Pacific market for E-glass fibers may experience substantial growth due to rising wind energy consumption and demand for lightweight turbine components to facilitate transportation in difficult-to-reach areas.

Europe is estimated to grow at a CAGR of 4.1% during the forecast period. Europe's market is expected to expand significantly during the forecasted period. Germany, France, the United Kingdom, Italy, and Spain are the leading European nations where the use of lightweight materials in automotive body parts is increasing as the automotive industry experiences rapid growth. Growing technological advancements have prompted manufacturers to create eco-friendly alternatives to plastics and metals, which is expected to fuel the development of the European region over the forecast period. Due to their high tensile strength and stability in space environments, expanding R&D innovations in Europe have increased the use of E-glass fiber yarn in fighter aircraft, which is anticipated to drive the growth of the E-glass yarn market.

The North American market for E-glass fibers is anticipated to expand owing to rising demand from the pipe and tank, aerospace, renewable energy, automotive and transportation, construction, and industrial sectors. These items are inexpensive and lightweight and possess exceptional tensile strength, flexibility, thermal resistance, and electrical resistance. The building industry's increasing emphasis on energy conservation is expected to stimulate the growth of E-glass yarns used as insulating materials. E-glass fabric is frequently used in aerospace applications due to its dimensional stability and temperature resistance. It is naturally combustible and does not emit harmful vapors or haze when heated. Rising demand for lightweight, fuel-efficient composites with low maintenance costs and load-bearing capacity will drive the North American E-glass yarn market forward.

Segmental Analysis

The global E-glass yarn market is segmented based on yarn type, grade, and end-user.

The market is segmented into single and piled yarns based on yarn type.

Piled yarn dominated the market and is expected to register a CAGR of 4.1% over the forecast period. To create a plied yarn, twist many strands of yarn together. Plied yarn is created by twisting two or more singles, each twisted in the opposite direction throughout production. To make a 2-ply, two singles are plied together; a 3-ply, three, and so on. Cable weaving, which involves assembling plied yarns, allows for even greater strand counts. Plied and cabled yarns are used in different industries for various purposes. Their tensile strength is increased compared to singles yarn because of the twist applied to the fiber.

The market is segmented based on grades: E-68, E-34, and others.

The other segments are expected to dominate the market, registering the highest CAGR of 3.6% over the forecast period. E-68 yarn is made by twisting hundreds of fiberglass filaments, each with a diameter of around 9.0 microns. Printed circuit boards (PCBs), personal computers (PCs), PC components, telecommunications equipment, digital equipment, mobile phones, and automobile boards all use the 68 tex yarns to make electronic-grade glass fabric. As an industrial material, it is used to make grinding wheel axles, sleeving goods, and reinforced cloth for civil construction. 

Based on end-user, the market is segmented into textile, automotive and transportation, building and construction, energy, electronics and electricals, and others.

The building and construction segment dominated the market and is expected to register a CAGR of 5.8% over the forecast period. Due to their exceptional tensile properties, E-glass fibers predominantly reinforce structural structures. As a result of its orientation in a particular direction, E-glass fibers are utilized in various applications due to their exceptional strength and rigidity ratios, in contrast to metal materials. The molding process's adaptability permits the molding of elements. Due to its high productivity, production costs can also be decreased. This market accounted for over 45 percent of the global E-glass textile market in 2014. These indicators are largely attributable to the expansion of the construction industry.

Recent Developments

• In July 2022, Taiwan Glass Ind. and Taichia Glass Fiber Co., Ltd. announced the disposal of financial products.