Fiberglass Market Trends, Volume - Industry Analysis, And Outlook 2023 - 2030.

Fiberglass Market is segmented By Product (Glass Wool, Direct and Assembled Roving, Yarn, Chopped Strand, Others), By Glass Type (S-Glass, E-Glass, C-Glass, ECR-Glass, Ar-Glass, A-Glass, Others), By Application (Composites, Construction & Infrastructure, Automotive, Wind Energy, Electronics, Aerospace, Others), By Glass Wool Insulation (Residential Construction, Non-Residential Construction, Industrial, Others), By Resin Type (Thermoset Resins, Polyesters, Vinyl Esters, Epoxy Resins, Thermoplastic Resins, Polyurethanes, Peek, Phenolic Resins, Hybrid Resins), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030.

Fiberglass Market Overview

A report by DataM Intelligence estimates the Global Fiberglass market to grow at a high CAGR during the forecast period 2023- 2030. The market is expected to grow because it is applicable in  Composites, Construction & Infrastructure, Automotive, Wind Energy, Electronics, Aerospace. The competitive rivalry intensifies with Knauf Insulation, Agy Holding Corp., CertainTeed Corporation, and others operating in the market.

Fiberglass is a common type of fiber-reinforced plastic using glass fiber. The fibers may be randomly arranged, flattened into a sheet (called a chopped strand mat), or woven into the fabric.

Cheaper and more flexible than carbon fiber, it is stronger than many metals by weight and can be molded into complex shapes. Applications include aircraft, boats, automobiles, bathtubs and enclosures, swimming pools, hot tubs, septic tanks, water tanks, roofing, pipes, cladding, casts, surfboards, and external door skins.

Fiberglass Market Summary

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Fiberglass Market Trends

The market for Fiberglass is primarily driven by the extensive use of fiberglass in the construction industry, the use of fiberglass composites in the automotive industry, and the rising number of wind turbine installations. Fiberglass is increasingly being utilized in the construction sector, particularly in structural engineering applications, owing to its superior properties like high tensile strength, high stiffness, low weight, and high chemical resistance.

Its applications in structural engineering include strengthening structures made of steel, concrete, timber, and cast iron. It is also used in retrofitting old concrete structures to increase the load capacity and flexure of the structure. Concrete structures with fiberglass have more lifespan and less maintenance cost as compared to conventional materials. With the growing competitiveness in the industry and decreasing profit margins, the use of fiberglass is becoming common in the construction sector, which is boosting the market.

Fiberglass Market Segmentation Analysis

The Global Fiberglass Market report segments the market by product type, glass type, application, end-user, and resin. The product type segment includes Glass Wool, Roving, Yarn, Chopped Strand, and others. Glass Wool is the largest type segment in the fiberglass market. It is mostly used in residential construction.

The rapid urbanization in developing regions like Asia-Pacific and an increasing number of building codes in the developed regions is boosting the demand for glass wool insulation. The insulation by glass wool maintains a consistent temperature and also improves comfort & air quality in buildings. It also reduces energy consumption, provides protection from fire, and prevents unwanted noise.

Based on the glass type, the market can be segmented as S-Glass, E-Glass, C-Glass, ECR-Glass, Ar-Glass, A-Glass, and Others. Further, the market can be classified based on application as composites and glass wool insulation. Based on resin type, the report segments the market as thermoset resins and thermoplastic resins.

Global Fiberglass Market Geographical Penetration

The report segments the market by geographic region which includes North America, South America, Europe, Asia-Pacific, and Others. Asia-Pacific held the largest market share in 2017. Developing countries like India and China are the major contributors to the large market share of Asia-Pacific. Rapid industrialization & urbanization, global connectivity, increasing investments, and favorable government policies are the primary factors fuelling the growth of the market in these countries.

Key players are investing highly in these regions and establishing their manufacturing plants because of the easy availability of low-cost labor and raw materials. Major manufacturers like Saertex Group and Owens Corning have already established their manufacturing facilities in India. Fiberglass in India is primarily used in housing, pipes, bridge, and water purification plants construction, road & rail transport, chemical plants, sewage disposal, electrical installations, marine vessels, and building applications.

Fiberglass Market Companies and Competitive Landscape

The report profiles the following companies China Jushi Co., Ltd., Owens Corning, PPG Industries, Inc., Chongqing Polycomp International Corp. (CPIC), Nippon Electric Glass Co., Ltd., Binani 3B-The Fibreglass Company, Taiwan Glass Ind. Corp., Johns Manville Corp., PFG Fiber Glass (Kunshan) Co., Ltd., Asahi Fiberglass Co., Ltd., Knauf, Insulation Saint-Gobain Vetrotex, CertainTeed Corporation, Agy Holding Corp.