Global Glass Microfiber market will reach 699.06 million US$ by the end of 2025
Published Date: 2019/10/12
The global Glass Microfiber industry has a rather high concentration. The major manufacturers are concentrated in United States, Europe and China, such as Johns Manville, Unifrax, Hollingsworth and Vose, Lydall and Taishan Fiberglass (Sinoma). At present, Johns Manville is the world leader, holding 18.82% sales market share in 2018.
The global consumption of Glass Microfiber increases from 141.8 K MT in 2014 to 194.1 K MT in 2019, at a CAGR of about 6.48%. In 2018, the global Glass Microfiber consumption market is led by United States and United States is the largest region consumption market, accounting for about 35.63% of global consumption of Glass Microfiber.
Glass Microfiber downstream is wide and recently Glass Microfiber has acquired increasing significance in various fields of Filter Paper, Battery, Heat Preservation Materials and Others. Globally, the Glass Microfiber market is mainly driven by growing demand for Filter Paper. In 2018, filter paper accounts for nearly 39.45% of total downstream consumption of Glass Microfiber in global.
Glass Microfiber can be mainly divided into B-Glass, C-Glass, E-Glass and A-Glass which B-Glass Microfibers captures about 43.37% of Glass Microfiber market in 2018.
Global market is expected to witness significant growth on account of rising applications, so in the next few years, Glass Microfiber consumption will show a trend of steady growth. The global revenue of Glass Microfiber is 554.29 million USD in 2019 and forecast will reach to 699.06 million USD at a CAGR of about 6.36%. On product prices, the slow downward trend in recent years will maintain in the future.
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