Glass fiber also called fiberglass. It is material made from extremely fine fibers of glass Fiberglass is a lightweight, extremely strong, and robust material. Although strength properties are somewhat lower than carbon fiber and it is less stiff, the material is typically far less brittle, and the raw materials are much less expensive. Its bulk strength and weight properties are also very favorable when compared to metals, and it can be easily formed using molding processes. Glass is the oldest, and most familiar, performance fiber. Continuous filament glass fiber (CFGF) is also known as textile glass fiber primarily used as the reinforcement of a matrix to form composites.
India’s composites industry which stood in 2015 at around 3 lakh metric tons is projected to grow rapidly to reach 4.18 lakh metric tons by 2020 at a substantial Compound Annual Growth Rate (CAGR) of 5.8 %. The fiberglass market was estimated at USD 13.95 Billion in 2017 and is projected to reach USD 18.75 Billion by 2022, at a CAGR of 6.1% between 2017 and 2022. Thus, due to demand it is best to invest in this project.
Few Indian major players are as under
· Goa Glass Fibre Ltd.
· Owens-Corning (India) Pvt. Ltd.
· San Motors Ltd.
· U P Twiga Fiberglass Ltd.