The report ‘Forecast of global market of nonwoven fiberglass preimpregnated materials: application, region and the world’ made by Markets and Markets shows that the international market of nonwoven fiberglass preimpregnated materials will reach 834.5 million in 2021, compound annual growth rate will be 8.8% from 2016 to 2021.
In 2015, this market value is 504.7 million dollar. The report shows a quick compound annual growth rate which will reach 8.8% per year. It is mainly attributed to the growth of wind power industry, the growth of demanding for light composite materials in auto industry, strong ordering from Airbus and Boeing and the growth of emerging markets.
In all the application fields, automotive nonwoven fiberglass preimpregnated materials is the fastest growing part of the whole market. By the trends of reducing the carbon dioxide emissions, it has promoted the manufacturer to use preimpregnated materials to produce weight-reduction automobiles.
The second growth rate of nonwoven fiberglass preimpregnated materials application is wind power industry. Preimpregnated materials can reinforce the structure strength and raise the corrosion resistance for wind mill blades. As an environmentally friendly and reproducible energy, wind power industry is a promising industry and its demands will go steadily up in the following decades, especially for China and India.
Asian-Pacific region has accounted for maximal market share in the global market in 2015. It is mainly because of the growth of government support for wind power and the growth of green power industry. The growth of emerging markets such as consumer electronics industry in Asian-Pacific region is the second driving force for nonwoven fiberglass preimpregnated materials. As the growth rate of application for global automotive industry, the demands of preimpregnated materials in Asian-Pacific region will increase rapidly in the following years.