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The global fiberglass market reached a value of around US$ 13 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 5.1% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
Fiberglass refers to a reinforced plastic material made from glass fibers that are embedded in a resin matrix. It is widely available in the form of glass wool, direct and assembled roving, yarn, chopped strand, flattened sheets, etc. Fiberglass is lightweight, cost-effective, corrosion-resistant, durable, and provide high electrical insulation. It is widely adopted over conventional materials, such as aluminum and steel, based on its improved energy-efficiency and ecological sustainability. As a result, fiberglass finds extensive applications across diverse industries, such as construction, automotive, aerospace and defense, electronics, etc.
With the rising environmental concerns, there is an increasing demand for lightweight composite materials across numerous industries for reducing carbon footprints. Moreover, the growing construction of smart infrastructures is also propelling the adoption of fiberglass for controlling overheating and maintaining the room temperature. In line with this, several government bodies across the globe are increasingly investing in the sustainable development of green and energy-efficient buildings, thereby catalyzing the demand for fiberglass. Additionally, the rising number of refurbishment and remodeling activities has led to the replacement of conventional building materials with fiberglass in floor coverings, walls, windows, panels, etc., to provide better insulation and enhanced structural stability. Apart from this, a significant growth in the renewable energy sector is further bolstering the product demand for manufacturing various electrical equipment to harness clean and safe energy sources, such as wind and tidal. Moreover, the expanding automotive industry along with the increasing demand for fuel-efficient vehicles is also augmenting 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. All of these-above mentioned factors will continue to drive the global market for fiberglass in the coming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global fiberglass market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, glass product type, glass fiber type, resin type, application and end user.
Breakup by Glass Product Type:
Breakup by Glass Fiber Type:
Breakup by Resin Type:
Breakup by Application:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being 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.) and Taiwan Glass Industry Corporation.
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