Glass veil is a material made out of thin fiberglass fabric which is used for many applications pertaining to plasterboards, floor coverings, etc. Fiber glass veil is required across multiple industries namely construction, transportation, etc. The global glass veil market is projected to grow at a high CAGR rate owing to its characteristics and uses in various sectors. The key drivers of the market include a rise in demand of the economic cost building materials across several regions of the globe. Establishment of new manufacturers and expansion of product portfolio of glass veil market by the key players are also some considerable factors. Furthermore, ease of access of such materials via online methods has improved the convenience factor of clients which in turn has helped in the growth of the global glass veil market.
Fiber glass veil is delicate and should be handled with care thereby increasing overall maintenance cost. Thus, this aspect acts as a predominant restraint for the market. Competitors should come up with innovative ideas and cost effective methods to handle the supply and demand chain of the global glass veil market.
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Glass Veil Market: COVID – 19 Impact
The covid-19 pandemic had disastrous impact on the global glass veil market. Due to restrictions on trade across regions, it had adverse consequences on the market. Government initiatives to stop the disease from spreading had to take place at the cost of a significant downfall of the overall glass veil market in terms of revenues. This led to a price surge to tackle the market. Key players such as Saint – Gobain (Vetrotex Textiles) have released statements regarding the covid-19 impact and the measures taken to handle the crisis.
Segmentation Analysis of Glass Veil Market:
The global glass veil market is bifurcated into three major segments which are classified as: product type, application, and geography.
On The Basis Of Product Type, The Glass Veil Market Has Been Segmented As Follows:
- Wet – Laid Process
- Dry – Laid Process
On The Basis Of Application, The Glass Veil Market Has Been Segmented As Follows:
- Roofing Material
- Electronics & Automobiles
- Floor Covering
On The Basis Of Geographic Regions, The Glass Veil Market Has Been Segmented As Follows:
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Glass Veil Market: Regional Outlook
The global glass veil market is segregated into several key regions which are namely North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East & Africa. The market is well expanded in these regions and North American region is the dominant region in the geographical segment of the glass veil market. However, a good presence of the product can be found in the European regions as well mainly owing to the establishment of several manufacturers in the region.
East Asia and Europe are predicted to witness a significant growth boost in the global glass veil market in the upcoming years. Key factors supporting this are the rise in awareness of the product and expansion of key players into different regions along with the diverse applications of the product.
Glass Veil Market: Key Players
The global glass veil market is fragmented in nature with a number of players in business around the globe. The key players of the glass veil market are Sinoma Jinjing Fiberglass, Owens Corning, Johns Manville, Shaanxi HuaTek Fiberglass, Saint – Gobain, Ahlstrom – Munksjo and Jiangsu Changhai Composite. These key players have controlled the market and are devoted to expansion by using several strategies such as mergers and acquisitions like Saint – Gobain acquired Vetrotex Textiles to prioritize the product portfolio of the global glass veil market. Establishment of e-commerce of product goods is also a strategy used by the competitors to expand their market share thus improving the overall market growth.
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