Astute Analytica has released new research on the worldwide Fiberglass market that includes competitor micro-analysis and important industry segments (2022-2030). The Global Fiberglass report examines in-depth research on numerous segments, including prospects, size, growth, innovation, sales, and general player growth. The study uses primary and secondary statistical sources, and it includes both qualitative and quantitative analysis.
The Global Fiberglass Market size will grow from US$ 13,443.7 Million in 2021 to US$ 18,648.7 Million by 2027. The Global Fiberglass Market will record a tremendous compound annual growth rate (CAGR) of 5.6% during the study period, i.e., 2022-2027.
The market study provides a thorough explanation of a number of market analysis techniques, including SWOT analysis and five-point analysis. The market report also includes an in-depth analysis of several growth plans and initiatives to broaden the business’s horizons on a regional and international scale. It gives readers a thorough explanation of all the market difficulties and development prospects related to the Fiberglass market.
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Fiberglass is one of the most common types of fiber-reinforced plastic using glass fiber. It can be flattened into a sheet, woven into glass cloth, or arranged randomly. The market is anticipated to be driven by the increasing use of fiberglass composite in the automotive construction industry, rising demand for composite components, and the strict regulation for emission control favor fiberglass over other materials. Furthermore, the rising number of wind energy capacity installations is estimated to provide lucrative opportunities for market growth.
Regional Overview:
On a regional basis, the global as is segmented into North America, Europe, Asia Pacific, Middle East Africa, and South America.
The Asia Pacific region held the largest market share of around 52% in the global market owing to the rising automotive and construction sectors in the region. Also, the increasing industrialization in countries such as India, Japan, and China are estimated to contribute to the market growth. The Middle East African region witnessed a growth rate of about 5.8% owing to the growing automobile sector in the region.
Competitive Landscape:
Key players operating in the global fiberglass market include AGY Holding Corp, Asahi Fiberglass Co., Ltd., Binani 3B-the Fibreglass Company, CertainTeed Corporation, Chongqing Polycomp International Corp. (CPIC), Johns Manville Corp., Jushi Co., Ltd., Knauf Insulation, Nippon Electric Glass Co., Ltd., Owens Corning, PFG Fiber Glass Co., Ltd., Saint-Gobain Vetrotex, Taishan Fiberglass Inc., and Taiwan Glass Ind. Corp., among others.
Segmental Analysis:
The segmentation section of the report focuses on every segment, along with highlighting the ones having a strong impact on the global Fiberglass Market. The segmentation served as the foundation for finding businesses and examining their financial standings, product portfolios, and future growth potential. The second step entailed evaluating the core competencies and market shares of top firms in order to predict the degree of competition. A bottom-up method was used to assess the market’s overall size.
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Segments Overview:
The global fiberglass market is segmented based on the type, form, manufacturing process, resin, and industry.
By Type
- Glass Fiber
- Glass Fiber
- Glass Fiber
- Glass Fiber
- Advantex Glass Fiber
- ECR Glass Fiber
- AR Glass Fiber
- R- Glass Fiber
- S2 Glass Fiber
- M- Glass Fiber
- Z- Glass Fiber
The E-glass fiber is expected to hold the largest market share of about 21% owing to its cost efficiency and low weight. It is also corrosion-resistant and has numerous applications in industries such as marine, electronics electrical, and wind energy. The ECR glass fiber segment is estimated to grow at the fastest rate, while the D-glass fiber segment surpasses a value of USD 1,708.5 million by 2025.
By Form
- Tow
- Veil mats
- Woven fabrics
- Chopped strand mat
- Tape
- Rope
- Cloth
- Others
The tow segment is estimated to dominate the market with around 29% owing to the high demand for fiberglass in tow form. The chopped strand mat segment is expected to grow at the fastest rate of 6.9%. The tape segment is anticipated to cross the cloth segment by 2023 and become the sixth-largest contributing segment.
By Manufacturing Process
- Continuous Filament
- Staple Filament
The continuous filament segment is expected to hold the largest market share owing to its increasing adoption for the manufacturing of fiberglass.
By Resin
- Polyester
- Vinyl esters
- Epoxy
- Polyurethanes
- Others
The polyester segment held the largest market share of around 38% owing to its high usage, while the epoxy segment is anticipated to grow at a CAGR of 6.2% owing to the strong bond it can create as compared to other resins.
By Industry
- Aircraft and Aerospace
- Construction Industry
- Consumer Goods
- Corrosion Resistant Equipment
- Electrical devices
- Marine Industry
- Automobile Industry
The construction industry segment is estimated to hold the dominant market share of over 30% due to its high usage in a varied range of building applications, such as walls, roofs, ladders, windows, and panels. The aircraft aerospace segment is expected to grow at the fastest rate of 9.7% and the marine industry is anticipated to hold a market value of around USD 1,210.4 million by 2025.
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