Fiberglass Market is expected to display an exponential growth by 2027 | CAGR: ~5% | UnivDatos Market Insights

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14 Sep, 2022, 19:11 IST

NOIDA, India, Sept. 14, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights the Fiberglass Market is expected to grow at a CAGR of over 5% from 2021-2027. The analysis has been segmented into Type (S-Glass, E-Glass, A-Glass, D-Glass, E-CR-Glass, and Others); Resin Type (Polyester, Vinyl ester, Epoxy, and Others); Product Type (Woven Roving, Chopped Strand, Fabric and Others); Application (Composites and Insulation); Region/Country.

The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Fiberglass Market in the Global context. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the Global Fiberglass Market at the regional & country levels.

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Market Overview

Fiberglass has a wide range of applications in aerospace, automotive, sports, marine, and construction industries, among others due to its low cost of production, lightweight, corrosion-resistant, ease of fabrication, good mechanical properties, and higher strength to weight ratio. As a result, helps industries in reducing the operating cost without compromising the performance. Further, increasing utilization of fiberglass mats in thermal insulation in the electrical industry is a major boost for the market with growth in industrialization and the growing government spending in the construction industry. Moreover, the expanding automotive industry along with the increasing demand for fuel-efficient vehicles is also encouraging the usage of fiberglass in body panels, panel assemblies, wheelhouse assemblies, battery boxes, front fascia, etc. Besides this, fiberglass is continuously replacing metal-based alternatives in pipes, tanks, subsea systems, etc., across the water treatment and oil & gas sectors. For instance, in April 2022 SK ecoplant announced that the company begin to produce fiberglass rebar using plastic bottles as raw materials for the first time in the world. As the name suggests, fiberglass rebar is an alternative to steel rebar made from glass fiber reinforced polymer (GFRP). SK ecoplant has succeeded in extracting one of the main raw materials for GFRP rebar from plastic bottles. Owing to such factors, the demand for fiberglass is likely to grow in the near future.

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https://univdatos.com/report/fiberglass-market/

The global Fiberglass Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

  • Among these, woven roving is likely to showcase robust growth in the fiberglass market. It is one of the strongest textile fibers, having greater specific tensile strength than steel wire of the same diameter, at a lower weight. It has warp and weft roving aligned in a parallel, high strength, flexible, and uniform tension. Due to the following properties, it has wide applications in the petrochemicals for making pipes and storage tanks, transportation, and building materials for fence and wave color tiles.

  • Among both, the composites are likely to show robust growth in the fiberglass market during the foreseeable future. It has good mechanical, electrical, and chemical properties and is light in weight; due to this, the demand for composite materials is increasing in several industries. Further, the world is focusing on wind energy generation and bigger blades size and taller turbines are used for stronger production capacity. To make the blades of windmills composites are used in place of metals due to their lightweight. For instance, researchers from the National Renewable Energy Laboratory, supported by both the Lawrence Berkeley National Laboratory and the U.S. Department of Energy, predict that by 2035, wind plant designs will embrace towers even taller than previously thought. The researchers gained this insight by analyzing the opinions of over 140 of the world's leading experts, who predicted that the hub heights of onshore wind turbines will reach 130 meters by 2035.

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Fiberglass Market Geographical Segmentation Includes:

  • North America (United States, Canada, and Rest of North America)
  • Europe (Germany, United Kingdom, Italy, France, Spain, and the Rest of Europe)
  • Asia-Pacific (China, India, Australia, Japan, and the Rest of Asia-Pacific)
  • Rest of the World

For a better understanding of the market adoption of the Fiberglass industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America); Europe (Germany, U.K., France, Italy, Spain, and the Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific); and the Rest of World. Asia-Pacific accounted for a significant share in the market and is expected to showcase substantial growth during the forecast period owing to a large and growing base of the end-use industry due to improving consumer spending power, rapid urbanization, and growing demand for better quality products. Moreover, increasing construction works with industrialization in the region would increase the demand for fiberglass as it is used for coating and insulation due to its thermal resistance and durability.

The major players targeting the market include

  • Owens Corning
  • China Jushi Co. Ltd.
  • PPG Industries, Inc.
  • BKP Berolina Polyester GmbH & Co. KG
  • Compagnie de Saint-Gobain S.A.
  • Taiwan Glass Industry Corporation
  • Xingtai Jinniu Fiberglass Co. Ltd.
  • Taishan Fiberglass Inc.
  • Asahi Fiber Glass Co., Ltd.
  • AGY Holding Corp

Competitive Landscape

The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the global context. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Fiberglass Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.

Key questions resolved through this analytical market research report include:

  • What are the latest trends, new patterns, and advancements in the Fiberglass Market?
  • Which factors are influencing the Fiberglass Market over the forecast period?
  • What are the challenges, threats, and risks in the Fiberglass Market?
  • Which factors are propelling and restraining the Fiberglass Market?
  • What are the demanding regions of the Fiberglass Market globally?
  • What will be the market size in the upcoming years?
  • What are the crucial market acquisition strategies and policies applied by the companies?

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