Los Angeles, March 09, 2020 -QY Research has lately published a report titled, “Global Recycled Glass Fiber Sales Market Report 2020.” The researchers have critically examined the key growth factors and advancements associated with the global Recycled Glass Fiber market. In 2019, the market size for Recycled Glass Fiber was $ 43734.7 K and it is likely to attain $ 69304.59 K by 2026 end. The market is expected to grow at 7.1% from 2020 to 2026.
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Sustainable Development to Play a Significant Role in Market Growth
Increasing focus on sustainable development is expected to trigger the Recycled Glass Fiber market growth in future. Additionally, advancements in grinding and sorting technology are likely to make the recycling of glass fiber simpler, thus opening doors for Recycled Glass Fiber market. Stringent regulations to use recycled glass across several regions are likely to aid market growth. Nevertheless, there are factors such as high investment cost and complex manufacturing process, which may hamper the growth of the Recycled Glass Fiber market in the coming years.
Global Fiberglass Solutions Expands Wind Turbine Recycling Operation
Rivierasca, Neocomp, Befesa, Ucomposites, Global Fiberglass Solutions, Agecko, Conenor, Filon Products, Mixt Composites Recyclables, Reprocover, and Nittobo are some of the key companies functioning in the global Recycled Glass Fiber market.
Key players are taking up various growth strategies to strengthen their presence in the market, expansion of recycling plants being one of them. For instance, in 2019, Global Fiberglass Solutions, one of the key companies, expanded a plant in Sweetwater, Texas so as to recycle fiberglass from the blades of wind turbines and various other sources.
Construction to Emerge as a Key Application Segment in Future
Based on type, the market is divided into mechanical method, calcination method, and others. As far as the application is concerned, the market is segregated as construction, municipal, and other. The construction segment is expected to acquire a major share in the market owing to extensive usage of fiberglass composites in infrastructure related activities.
APAC to Present Lucrative Opportunities for Recycled Glass Fiber Manufacturers
The APAC region may emerge as a lucrative regional market in the forthcoming years. This is attributed to surge in the number of construction and industrial activities in this region. China, Japan and India are the key contributors to the regional market growth as the consumption of glass fiber is high in these countries.
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