According to IMARC Group’s latest report, titled “Fiberglass Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global fiberglass market size reached US$ 11.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 15.0 Billion by 2027, exhibiting a growth rate (CAGR) of 4.77% during 2022-2027.
Fiberglass represents reinforced plastic materials made from glass fibers embedded in a resin matrix. In terms of the product type, they can be segmented into glass wool, yarn, chopped strand, flattened sheets, etc. These fiberglass variants are lightweight, durable, cost-effective, corrosion-resistant, ecologically sustainable, and highly energy efficient. Consequently, they find extensive applications across several sectors, including automobile, construction, aerospace, defense, electronics, etc.
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Market Trends and Drivers:
The growing environmental concerns and the rising need for lightweight composite materials among numerous industries to reduce carbon footprints are primarily driving the fiberglass market. Additionally, the increasing construction of smart infrastructures to control overheating and optimize the room temperature and the launch of favorable policies by the government bodies aimed at promoting the development of green and energy-efficient buildings are acting as significant growth-inducing factors. Furthermore, the elevating demand from the renewable energy sector to manufacture various electrical equipment for harnessing safe and clean energy sources is also positively influencing the global market. Besides this, the expanding product usage in the automotive industry to design body panels, wheelhouse assemblies, battery boxes, front fascia, etc., for reducing the overall weight of the vehicles and ensuring enhanced fuel efficiency is further stimulating the market growth. Moreover, the emerging preferences for effective alternatives to metal-based pipes, tanks, subsea systems, etc., in the oil and gas sector are expected to bolster the fiberglass market in the coming years.
Fiberglass Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the fiberglass market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Asahi Fiber Glass Co. Ltd. (Yoshino Gypsum Co. Ltd.)
- Braj Binani Group
- China Jushi Co. Ltd.
- Chongqing Polycomp International Corp. (Yuntianhua Group Co. Ltd.)
- Compagnie De Saint-Gobain S.A.
- Johns Manville (Berkshire Hathaway Inc.)
- Knauf Insulation
- Nippon Electric Glass Co. Ltd.
- Owens Corning
- PFG Fiber Glass Corporation (Nan Ya Plastics Corporation)
- Taishan Fiberglass Inc. (Sinoma Science & Technology Co. Ltd.)
- Taiwan Glass Industry Corporation
Key Market Segmentation:
The report has segmented the global fiberglass market on the basis of glass product type, glass fiber type, resin type, application, end user and region.
Breakup by Glass Product Type:
- Glass Wool
- Direct and Assembled Roving
- Yarn
- Chopped Strand
- Others
Breakup by Glass Fiber Type:
- E-Glass
- A-Glass
- S-Glass
- AR-Glass
- C-Glass
- R-Glass
- Others
Breakup by Resin Type:
- Thermoset Resin
- Thermoplastic Resin
Breakup by Application:
- Composites
- Insulation
Breakup by End User:
- Construction
- Automotive
- Wind Energy
- Aerospace and Defense
- Electronics
- Others
Breakup by Region:
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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