The global Fiberglass Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
Global Fiberglass Market is anticipated to reach USD 21.27 billion by 2025. Fiberglass implies fiber-reinforced plastic where reinforcement fiber is mainly glass fiber. It is developed by pouring molten glass via superfine holes. The factors that drive the growth of the fiberglass industry include an increasing number of wind turbine installations, use of fiberglass composites by the automotive industry for enhanced performance, and extensive use of fiberglass in the construction industry.
Key Players:
- Owen Corning
- Binani 3B-The Fibreglass Company
- China Jushi Co. Ltd
- Nippon Electric Glass Co., Ltd
- Johns Manville Corp.
- Chongqing Polycomp International Corp
- Saint-Gobain
- PFG Fiber Glass Corporation
- Pioneer Natural Resources Company
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Growth Drivers:
Fiberglass Market is anticipated to grow at a significant CAGR of 5.9% in the upcoming period as the scope, product types, and its applications are increasing across the globe. On the other hand, there are factors that may hamper the growth of the market including high manufacture cost of fiberglass.
Application Outlook:
- Insulation
- Composites
Type Outlook:
- Glass Wool
- Yarn
- Roving
- Chopped Strands
The “Wool” segment led the Fiberglass Market in 2016 and is anticipated to maintain its dominance by 2025 owing to increasing use of glass wool in construction sector for insulation. The rising construction expenditure in emerging countries is an important factor expected to drive the demand for glass wool in the forecast period. “Wool” segment is followed by “Chopped” segment.
End-use Outlook:
- Automobiles
- Building and Construction
- Aerospace
- Wind Energy
The “Automotive” segment led the market in 2016 and is anticipated to maintain its dominance by 2025 due to the fact that fiberglass is mainly used in manufacturing of automobile parts such as body panels, decks, load floors, wheelhouse assemblies, dash panel assemblies, battery boxes, and front fascia.
Regional Outlook:
Asia-Pacific accounted for the major share of the Fiberglass Market and will continue to lead in the forecast period. The increasing disposable revenue in Asia Pacific is expected to propel the regional market over the forthcoming period. Furthermore, the rising automobile and construction segments in the region, particularly in India and China is estimated to drive the market.
Some of the key players that fuel the growth of the Fiberglass industry comprise Jushi Group Co. Ltd., Corning, Taishan Fiberglass Inc., Zibo Zhuoyi Fiberglass Material Co. Ltd., Chongqing Polycomp International Corp., Johns Manville, Shandong Fiberglass Group Co. Ltd., XingtaiJinniu Fiberglass Co. Ltd., CPIC Abahsain Fiberglass M.E., W.L.L., and Glasstex Fiberglass Materials Corp. The leading companies are taking up mergers, and acquisitions, partnerships, and joint ventures in order to boost the inorganic growth of the industry.
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