Fiberglass Market Insights:
The Fiberglass Market was analyzed which was worth USD 27.4 Billion in the year 2022, expecting a CAGR of 7% during the forecast period (2023-2030), and the market is projected to be valued at USD 47.08 Billion by 2030.
The increased adoption of Fiberglass in the Specialty Glass, Ceramic & Fiber is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Fiberglass also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Fiberglass in many sectors also boosts the market growth during the forecast period.
Fiberglass, also known as glass-reinforced plastic (GRP) or glass-fiber reinforced plastic (GFRP), is a composite material made of fine glass fibers woven into a fabric or mat and bonded together with a plastic resin. The glass fibers provide the strength and stiffness, while the resin provides the shape and protects the fibers from damage. Fiberglass is lightweight, durable, and resistant to heat, corrosion, and chemicals, making it a popular choice for a wide range of applications. It is commonly used in construction for insulation, roofing, and wall panels, as well as in boats, aircraft, automobiles, and sporting goods for its high strength-to-weight ratio.
Fiberglass Market Research Report” was just released by Market Research Community. It is divided into several categories, including Product Type (Fiberglass Rovings, Fiberglass Mats, Fiberglass Strands, Fiberglass Fabrics), application (Automotive, Aerospace & Defense, Wind Energy, Construction, Marine, Sports & Leisure, Pipes & Tanks, Others), Glass Type (S-Glass, C-Glass, E-Glass, ECR-Glass, Others), and companies (Nippon Electric Glass Co. Ltd., Saint-Gobain, Owens Corning,Jushi Group Co. Ltd., CPIC Abahsain Fiberglass M.E. W.L.L., Shandong Fiberglass Group Co. Ltd., Glasstex Fiberglass Materials Corp., Zibo Zhuoyi Fiberglass Material Co. Ltd., Xingtai Jinniu Fiberglass Co. Ltd., Taishan Fiberglass Inc., Johns Manville, Chongqing Polycomp International Corp., PFG Fiber Glass Corporation), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 7%, over the forecast period of 2023–2030.
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||47.08 Billion|
|By Product Type||Fiberglass Rovings, Fiberglass Mats, Fiberglass Strands, Fiberglass Fabrics|
|By Glass Type||S-Glass, C-Glass, E-Glass, ECR-Glass, Others|
|By Application||Automotive, Aerospace & Defense, Wind Energy, Construction, Marine, Sports & Leisure, Pipes & Tanks, Others|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||Nippon Electric Glass Co. Ltd., Saint-Gobain, Owens Corning,Jushi Group Co. Ltd., CPIC Abahsain Fiberglass M.E. W.L.L., Shandong Fiberglass Group Co. Ltd., Glasstex Fiberglass Materials Corp., Zibo Zhuoyi Fiberglass Material Co. Ltd., Xingtai Jinniu Fiberglass Co. Ltd., Taishan Fiberglass Inc., Johns Manville, Chongqing Polycomp International Corp., PFG Fiber Glass Corporation|
The COVID-19 pandemic has had a substantial negative influence on the Fiberglass market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Nippon Electric Glass Co. Ltd., Saint-Gobain, Owens Corning,Jushi Group Co. Ltd., CPIC Abahsain Fiberglass M.E. W.L.L., Shandong Fiberglass Group Co. Ltd., Glasstex Fiberglass Materials Corp., Zibo Zhuoyi Fiberglass Material Co. Ltd., Xingtai Jinniu Fiberglass Co. Ltd., Taishan Fiberglass Inc., Johns Manville, Chongqing Polycomp International Corp., PFG Fiber Glass Corporation
Market Segment Analysis:
By Product Type
- Fiberglass Rovings
- Fiberglass Mats
- Fiberglass Strands
- Fiberglass Fabrics
By Glass Type
- Aerospace & Defense
- Wind Energy
- Sports & Leisure
- Pipes & Tanks
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2022, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Fiberglass industries in the region.
Key Fiberglass Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Fiberglass Market segments.
– Largest Market Share Held by Industry to Industry for Fiberglass
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Fiberglass Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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