Market Overview 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. 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.

Fiberglass Market Trends:

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.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global fiberglass market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on glass product type, glass fiber type, resin type, application and end user.

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
     

Competitive Landscape:

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.

Report Coverage:

Key Questions Answered in This Report:

• How has the global fiberglass market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global fiberglass market?
• What are the key regional markets?
• What is the breakup of the market based on the glass product type?
• What is the breakup of the market based on the glass fiber type?
• What is the breakup of the market based on the resin type?
• What is the breakup of the market based on the application?
• What is the breakup of the market based on the end user?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global fiberglass market and who are the key players?
• What is the degree of competition in the industry?