
Lucintel Forecasts Glass Fiber Market to Reach $14.0 billion by 2031
According to the recent study the glass fiber market is projected to reach an estimated $14.0 billion by 2031 from $10.5 billion in 2024, at a CAGR of 4% from 2024 to 2031. Growth in this market is primarily driven by rise in demand for products made of glass composites; these include bathtubs, pipes, tanks, printed circuit boards, wind blades, and automotive parts.
Browse 104 figures / charts and 78 tables in this 219 -page report to understand trends, opportunities and forecast in glass fiber market by end use (marine, transportation, pipe and tank, aerospace, construction, etc), manufacturing process (hand lay-up, spray up, filament winding, pultrusion, etc), product type (single end roving, multi end roving, DUCS, continuous filament mat, and yarn), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that construction will remain the largest end use by value and volume due to growing infrastructure development and rising demand for energy-efficient buildings. Aerospace is expected to witness highest growth over the forecast period.
Single end roving will remain the largest product type by volume over the forecast period.
Download sample by clicking on glass fiber market
Asia Pacific is expected to remain the largest region by value and volume over the forecast period because of growth in construction, pipe and tanks, and the electrical and electronics segments. Growing economy, growth in population, and urbanization are the major forces that drive the construction segment, especially in China and India and it is also expected to witness the highest growth over the forecast period.
Praana Group (Owens Corning), Jushi Group Co., Ltd., Chongqing Polycomp International Corporation, Taishan Fiberglass Inc., Taiwan Glass Group, Nippon Electric Glass Co. Ltd., Sichuan Weibo. Co. Ltd, Johns Manville Corporation, Nitto Boseki Co. Ltd are the major suppliers in the glass fiber market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact: Roy Almaguer Lucintel Dallas, Texas, USA Email: roy.almaguer@lucintel.com Tel. +1-972-636-5056
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Globe and Mail
an hour ago
- Globe and Mail
U.S., China negotiators to resume talks in effort to extend tariff truce
Senior U.S. and Chinese negotiators meet in Stockholm on Monday to tackle longstanding economic disputes at the centre of the countries' trade war, aiming to extend a truce keeping sharply higher tariffs at bay. China is facing an August 12 deadline to reach a durable tariff agreement with President Donald Trump's administration, after Beijing and Washington reached a preliminary deal in June to end weeks of escalating tit-for-tat tariffs. Without an agreement, global supply chains could face renewed turmoil from duties exceeding 100 per cent. The Stockholm talks, led by U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, take place a day after European Commission President Ursula von der Leyen meets Trump at his golf course in Scotland to try to clinch a deal that would likely see a 15 per cent baseline tariff on most EU goods. Trade analysts on both sides of the Pacific say the discussions in the Swedish capital are unlikely to produce any breakthroughs but could prevent further escalation and help create conditions for Trump and Chinese President Xi Jinping to meet later this year. Previous U.S.-China trade talks in Geneva and London in May and June focused on bringing U.S. and Chinese retaliatory tariffs down from triple-digit levels and restoring the flow of rare earth minerals halted by China and Nvidia H20 AI chips and other goods halted by the United States. U.S. to discuss tariff deadline extension with China as Trump, Philippines reach deal So far, the talks have not delved into broader economic issues. They include U.S. complaints that China's state-led, export-driven model is flooding world markets with cheap goods, and Beijing's complaints that U.S. national security export controls on tech goods seek to stunt Chinese growth. 'Stockholm will be the first meaningful round of U.S.-China trade talks,' said Bo Zhengyuan, Shanghai-based partner at China consultancy firm Plenum. Trump has been successful in pressuring some other trading partners, including Japan, Vietnam and the Philippines, into deals accepting higher U.S. tariffs of 15 per cent to 20 per cent. He said there was a 50-50 chance that the U.S. and the 27-member European Union could also reach a framework trade pact, adding that Brussels wanted to 'make a deal very badly'. Two of Trump's top trade officials, Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer, will attend the Scotland talks and then travel to Stockholm. Analysts say the U.S.-China negotiations are far more complex and will require more time. China's grip on the global market for rare earth minerals and magnets, used in everything from military hardware to car windshield wiper motors, has proved to be an effective leverage point on U.S. industries. In the background of the talks is speculation about a possible meeting between Trump and Xi in late October. Trump has said he will decide soon whether to visit China in a landmark trip to address trade and security tensions. A new flare-up of tariffs and export controls would likely derail any plans for a meeting with Xi. 'The Stockholm meeting is an opportunity to start laying the groundwork for a Trump visit to China,' said Wendy Cutler, vice president at the Asia Society Policy Institute. Bessent has already said he wants to work out an extension of the August 12 deadline to prevent tariffs snapping back to 145 per cent on the U.S. side and 125 per cent on the Chinese side. Still, China will likely request a reduction of multi-layered U.S. tariffs totaling 55 per cent on most goods and further easing of U.S. high-tech export controls, analysts said. Beijing has argued that such purchases would help reduce the U.S. trade deficit with China, which reached US$295.5-billion in 2024. China is currently facing a 20 per cent tariff related to the U.S. fentanyl crisis, a 10 per cent reciprocal tariff, and 25 per cent duties on most industrial goods imposed during Trump's first term. Bessent has also said he would discuss with He the need for China to rebalance its economy away from exports toward domestic consumer demand. The shift would require China to put an end to a protracted property crisis and boost social safety nets to encourage household spending. Michael Froman, a former U.S. trade representative during Barack Obama's administration, said such a shift has been a goal of U.S. policymakers for two decades. 'Can we effectively use tariffs to get China to fundamentally change their economic strategy? That remains to be seen,' said Froman, now president of the Council on Foreign Relations think-tank.

Globe and Mail
2 hours ago
- Globe and Mail
Ottawa is quietly working on launching a new entity it hopes will be key to housing affordability
Prime Minister Mark Carney's government has been quiet since the federal election about the housing crisis, the same issue that contributed to the Liberals' fading popularity under their previous leader. Behind the scenes, however, housing stakeholders are fielding a flurry of calls from government officials seeking their advice on the creation of Build Canada Homes, a new federal entity that Mr. Carney has said will get the government back in the business of homebuilding. His ambitions, announced during his campaign, were big: act as a developer to build affordable housing, spur innovation in the housing sector and offer low-cost financing to affordable-housing builders. However, trade turmoil has quickly overshadowed housing affordability in the political arena, creating a void of information on how the federal government plans to get more homes built. Renée LeBlanc Proctor, a spokesperson for Housing Minister Gregor Robertson, said in a statement that the government was on track to launch the initiative this fall and stakeholders would learn more soon. But questions still linger about how the new entity will function, and what its creation will mean for existing programs. Meanwhile, some leaders in the housing policy and advocacy spaces are worried that if the government doesn't move quickly to spur more supply, the economic slowdown caused by U.S. tariffs will set plans further behind. Mr. Carney promised the initiative would be a 'lean, mission-driven organization' focused on building affordable housing by leveraging public lands and partnering with the private sector. He pitched it as a central piece of the government's plan to double the rate of homebuilding in the country. Opinion: Ottawa must resist the temptation to fiddle with CMHC amid housing market slump Raymond Sullivan, executive director of the Canadian Housing and Renewal Association, an organization that represents the social and non-profit housing sector, said he's encouraged to see affordable housing at the heart of Build Canada Homes' mission. But given how long it can take to set up a new bureaucracy, Mr. Sullivan said the government should roll out elements of Build Canada Homes as they become ready, rather than wait for the entire organization to be set up. 'We're not going to have a cake that's fully baked and ready to launch in the fall. So let's focus on the pieces that are already available to us,' he said. University of Toronto senior housing researcher Carolyn Whitzman said there are two versions of the initiative that are being discussed in policy circles: one that is limited in scope and focused primarily on partnering with developers to build affordable housing on public land, and one that also has a larger mandate encompassing financing and innovation programs. Figuring out what exactly Build Canada Homes will be responsible for and how it will distinguish itself from organizations such as the Canada Mortgage and Housing Corporation appear to be some of the details Ottawa is trying to hammer out, according to stakeholders consulted by the government. Mr. Sullivan said Ottawa should ensure social-housing projects in the pipeline are not affected by the organization's creation. 'We don't want to see any kind of interruption. We need to know that the government is there as a partner with us, not sitting back for a year building a new structure, but ready to work on things that are ready,' he said. Real estate is not a financial slam dunk, Canadians are learning the hard way Some housing experts and stakeholders are skeptical that Build Canada Homes will be a sufficient solution to the housing shortage. The government has had mixed success with its housing initiatives in the past — such as the slow progress it's made on converting unused office space into affordable housing recently flagged by the Auditor-General — and a new organization will likely take time to begin delivering results. 'They've talked about partnering with industry to actually build the units, which will be important, because governments around the world have proven that they can't properly get into the actual construction game,' said Kevin Lee, CEO of the Canadian Home Builders' Association. Mr. Lee said building affordable housing on public lands also won't be enough to get the government to its goal of 500,000 housing starts a year. (The seasonally adjusted annual rate of housing starts was 283,734 units in June.) Meanwhile, the private and social-housing sectors are impatient for clarity on other policy fronts, including the promised GST rebate for first-time homebuyers. Mr. Lee said the delay is affecting demand at a time when the economy is already slowing down the housing market. 'Having something like that that was promised not get turned into official policy has really thrown another wrench into the system,' said Mr. Lee. Proposed GST rebate for first-time homebuyers could offer average relief of $27,000, PBO says Finance Minister François-Philippe Champagne introduced legislation in late May to provide the GST rebates. But unlike the government's 'One Canadian Economy' legislation, which was rushed through the House of Commons and Senate during the four-week sitting, the bill on GST rebates must wait for Parliament to return in the fall. The government's prioritization of fast-tracking approvals for major projects and managing trade tensions with the U.S. reflects a shift in the public's priorities, as well. Polling by Abacus Data shows U.S. President Donald Trump is the second-most important issue to Canadians, with housing and the economy nearly tied for third. (The rising cost of living – which includes housing costs – was the No. 1 issue.) Mike Moffatt, founding director of the University of Ottawa's Missing Middle Initiative, said the shift in priorities is understandable, though he warned housing could become of greater importance again. 'The government would be doing itself favours if they do the legwork now, because if it becomes a big concern, or the primary concern for Canadians, again, it might be too late to really address that,' Mr. Moffatt said. The trade war with the United States also has repercussions for the housing market, which won't make the government's job of spurring homebuilding any easier. RBC assistant chief economist Robert Hogue said the housing market is slowing down in part as 'payback for an exceptionally strong period' after the onset of the COVID-19 pandemic. 'However, the trade war kind of put a damper on things and really affected confidence in most of Canada, and that's when we saw, through the winter and spring, a lot of potential home buyers saying, 'might as well sit it out,'' he said. These three housing markets are bucking national trends, and Trump is one reason why 'The challenge is to get more demand for new construction at a time when building costs have gone up and and you've got now more inventory in the existing home market, in many places around Canada.' Mr. Moffatt said as the government works on setting up the organization, it needs to roll out policies that will have a more immediate effect on the housing market. For example, the government could expand its proposed GST rebate so that all homebuyers of a primary residence are eligible, he said. Ontario Premier Doug Ford said in the spring his government would match the tax break if it were extended to all homebuyers. Prof. Whitzman said social-housing builders also are seeking information on a number of programs, including the affordable housing fund, which provided capital for the repair of existing affordable and community housing. That fund recently ran out of money, leaving its future in limbo. 'I'm not saying Build Canada Homes is a bad idea,' she said. 'But there's stuff that could be happening tomorrow and there's stuff that should be happening tomorrow.'


CTV News
5 hours ago
- CTV News
Homebuilders navigate higher material costs, uncertain supply chains amid trade war
Construction workers work at the site of a condo tower under construction, in Delta, B.C., on Wednesday, July 2, 2025. Six months after U.S. President Donald Trump's return the White House, many in the home construction sector say unpredictability persists around the cost and timing of obtaining the materials they need. THE CANADIAN PRESS/Darryl Dyck As a tariff storm blew in from south of the border earlier this year, many industries in Canada, including the home building sector, feared the unknown ahead of them. With stakeholders already keenly aware of the need to rapidly scale up housing supply and improve Canada's housing affordability gap, blanket tariffs and more targeted material-specific levies meant additional unwelcome obstacles to overcome. That included a potential need to slow down the pace of construction as supply chains shifted and key construction parts became more expensive. 'I would say that's been borne out,' said Cheryl Shindruk, executive vice-president of Geranium Homes, a residential developer in southern Ontario. 'It's difficult to pinpoint what exactly is the cost impact, but we certainly can say that there is an impact in terms of business confidence and ... having materials when they need them in a timely manner.' About six months after U.S. President Donald Trump's return to the White House, many in the home construction sector say unpredictability persists around the cost and timing of obtaining the materials they need. For Geranium, that's meant having to pivot on the fly when it comes to the supply chains it's long relied on. Shindruk said the firm is now increasingly sourcing materials made in Canada, such as brick and stone, and doubling down on products typically imported from other countries besides the U.S. That includes steel, which it sources from countries including South Korea, Portugal and China — allowing it to avoid surtaxes on American steel in response to Trump's tariffs. But she said some materials simply can't be replicated in domestic or other international markets. For instance, a component in the layered glass windows used by Geranium continues to be sourced from the U.S. due to patent issues. The company has essentially decided to eat the extra costs. 'It's not like switching on a switch and all of a sudden those materials that used to be sourced from the U.S, which are significant, can now be produced in Canada,' she said. 'Where that's not realistic, then items are continuing to be sourced from the U.S. and (we're) paying the tariff.' Among products hit hardest by the trade war, Canadian Home Builders' Association CEO Kevin Lee highlighted appliances, interior doors and carpeting. In some cases, he said builders have looked for substitutions to their typical input materials. 'Where somebody might have been getting carpet in the past, they're saying 'You know what, we can move to vinyl plank,'' he said. Others are getting creative by stockpiling materials to avoid potential shortages later on. 'They're taking advantage of the availability of acquiring it and then having it available for future, which then increases the overhead because you're holding on to that material, rather than acquiring it when you need it,' Shindruk said. With early concerns about the effects of the trade war, Greater Toronto Area-based Altree Developments had forecast a three to five per cent hit to its overall budget, said the company's president and CEO Zev Mandelbaum. That figure has since decreased due to more Canadian material being available than first anticipated, said Mandelbaum. But he said the roller-coaster of tariff developments — from the latest threat of additional levies to hope that ongoing negotiations will soon lead to a new trade deal — has made it 'impossible' to plan ahead. He added his company has seen a far greater impact on the revenue side of the business over the past six months, as economic uncertainty drove down buyer demand. 'It was more the fear of just ... economic instability in Canada that stopped house buying and stopped people from wanting to invest, whether it be locals looking for homes or foreigners looking to invest in the country,' he said. 'That alienation caused us to have less sales, and because of that, that put even more pressure on construction costs.' In its housing forecast for the year, published in February, Canada Mortgage and Housing Corp. predicted a trade war between Canada and the U.S. — combined with other factors such as reduced immigration targets — would likely slow the economy and limit housing activity. The national housing agency had also said Canada was set for a slowdown in housing starts over the next three years — despite remaining above the 10-year average — due to fewer condominiums being built, as investor interest lags and demand from young families wanes. As of June, year-to-date housing starts totalled 114,411 across regions with a population of 10,000 or greater, up four per cent from the first half of 2024. Despite that boost in new construction, a regional analysis shows provinces with industries more exposed to tariffs are experiencing a slowdown, said CMHC chief economist Mathieu Laberge. He noted Ontario's housing starts have dropped around 26 per cent to date year-over-year, while B.C. has seen an eight per cent decline. In Ontario, five of the 10 most tariff-impacted cities also recorded an increase in mortgage arrears during the spring. Laberge said the trade war, or associated macroeconomic factors, likely prompted layoffs in those regions which meant people couldn't pay their mortgage. He said he expects that will eventually translate to a lower number of homes being built. 'This is a slow filter through, but it's a real one. We see it happening — although maybe not in the housing starts or resales yet,' Laberge said. Lee said the industry is already noticing those effects. 'The big problem now is we're just not getting the kind of starts we need and there's a lot of concern in the industry now,' Lee said. Before tariffs, he said some regions, such as Atlantic Canada and the Prairies, had started to see housing starts rebound from a national lull that was fuelled by previously high interest rates. Other provinces, such as Ontario and B.C. — where houses remain the most expensive — hadn't yet reached similar levels of new construction. 'What's happened with the trade war is that it's made things worse in Ontario and B.C. and we are seeing things slow down a little bit in Atlantic Canada and the Prairies,' said Lee. 'So it's having a dampening effect everywhere.' His association's second-quarter survey of its membership found 87 per cent of builders stated they have concerns about the well-being of their business over the next 12 months. Around 35 per cent said they have had to recently lay off workers and have no current plans to rehire — up from 21 per cent a year ago. 'It's getting quite serious,' said Lee. 'There's just a great deal of concern in the market.' This report by The Canadian Press was first published July 27, 2025. Sammy Hudes, The Canadian Press