Electrical insulating tube will continue to grow in the future
Electrical insulating tube production technology is already recognized as a technology, but due to the global emphasis on green applications such as products and technologies, the use of frame materials in products will increase market acceptance. Glass fiber can be used as a material for a wide variety of applications, including new and refurbished commercial and residential buildings, which provide high strength, long life, durability, and thermal efficiency.
Although new construction continues to decline in developed economies in North America and Europe, the demand for glass fibers in the North American market will continue to rise. This is mainly due to the relatively rapid recovery in the North American market, while the EU aims to reduce CO2 emissions to achieve new building energy efficiency. The requirements of the directive increase the demand for such products.
In EU countries such as Germany and France, the renovation of buildings is in full swing. This is mainly due to the support of government programs. The goal of its government plan is to reduce the energy consumption of buildings. The regions with large demand for insulation materials are China, India and Russia. The construction industry in these countries is developing rapidly and there are new regulations and standards for sustainable development. In the Asia-Pacific region, China and other developing countries that are rapidly developing have outstanding performance in various fields that require the use of fiberglass insulation. The CAGR has increased from 6% in 2006 to 8% in 2011, and this is the period between 2012 and 2016. The value will remain between 6.2% and 6.7%.
The glass fiber product market is used in terminal applications including residential construction, commercial and industrial construction, industrial and HVAC applications, and other appliance applications. The report predicts that the global fiberglass market will be 5.1 million tons in 2012, and will reach 6.4 million tons in 2016, worth USD 14.1 billion. The average annual compound growth rate from 2012 to 2016 will be 5.9%.