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Fiberglass Market worth US$ 17.5 Billion 2029 with a CAGR of 4.3 % by 2022-2032 PMI

Fiberglass Market PMI

Fiberglass Market PMI

Fiberglass Market, By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Trends, Analysis and Forecast till 2029

COVINA, CALIFORNIA , UNITED STATES, March 24, 2023 / -- Fiberglass market is projected to grow from US$ 12.0 billion in 2020 to US$ 17.5 billion by 2029. Increasing adoption of fiberglass in construction sector across the globe drives the global fiberglass market. Further, fiberglass used for manufacturing of automobile and aircraft body parts due to its excellent properties such as high strength and lightweight boost the global fiberglass market.

The report "Fiberglass Market, By Type (Glass Wool, Yarn, Roving, and Chopped Strands), By Application (Insulation and Composites), By End-Use (Automobiles, Building and Construction, Aerospace, and Wind Energy), and Region - Global Forecast to 2029"

Key Highlights:

• In May 2017, Owens Corning acquired high-performance cellular glass manufacturer Pittsburgh Corning. This acquisition will further expand Owens Corning’s commercial and industrial product offering and grow presence in Europe and Asia.

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Key Market Insights from the report:

The fiberglass market accounted for US$ 12.0 billion in 2020 and is projected to register a moderate CAGR of 4.3% over the forecast period. The market report has been segmented on the basis of type, application, end-use, and region.

• By type, the glass wool segment is accounted for major share in the global fiberglass market, owing to rising utilization of glass wool in construction sector for insulation.
• By application, the composites application segment is accounted for major share in the global fiberglass market due to fiberglass composite is used in manufacturing of automotive parts owing to its excellent properties such as lightweight and high strength-to-weight.
• By end-use, the automobiles end-use segment is accounted for major share in the global fiberglass market, attributed to fiberglass used in manufacturing of automobile parts such as wheelhouse assemblies, front fascia, battery boxes, decks, body panels, load floors, and dash panel assemblies.
• By region, Asia Pacific fiberglass market is expected to account for major share in terms of revenue in the global fiberglass market over the forecast period. This can be attributed to rising adoption of fiberglass from electricity sector and construction sector in countries such as India and China of the region. North America fiberglass market is expected to accounted for second-highest share in terms of revenue in the global fiberglass market in the near future.

Key player:
• Braj Binani Group
• Owens Corning
• Compagnie de Saint-Gobain S. A.
• Nippon Electric Glass Co., Ltd.
• China Jushi Co., Ltd
• Celstar Group Inc
• KAGY Holding Company, Inc
• Yuntianhua Group Co., Ltd.
• Koch Industries, Inc
• PFG Fiber Glass Corporation.

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• BASE YEAR:2021

Analyst view fiberglass market:

As a language model, I do not have the ability to provide a personal view or analysis. However, I can provide some information about the fiberglass market.

The fiberglass market is expected to grow significantly in the coming years due to the increasing demand for lightweight, high-strength materials in various end-use industries such as construction, automotive, aerospace, and wind energy. Fiberglass is a versatile material that offers excellent mechanical and thermal properties, corrosion resistance, and electrical insulation. The construction industry is one of the largest consumers of fiberglass, as it is used in the production of roofing panels, insulation, and reinforcement for concrete structures. The automotive industry is also a major consumer of fiberglass, as it is used in the production of lightweight body parts to improve fuel efficiency.

Fiberglass Market Segmentation:
Type of Fiberglass: Fiberglass can be classified into different types based on the composition of the reinforcing material and the resin used. Common types of fiberglass include E-glass, S-glass, C-glass, AR-glass, and R-glass.

Application: Fiberglass can be used for various applications, such as composites, insulation, textiles, and others.

End-use Industry: The fiberglass market is used in various end-use industries, including construction, automotive, aerospace, wind energy, marine, and others.

Questions by Fiberglass Market:

1. What are the key market trends and market dynamics?
2. Who are the major players in the market and what is their market share?
3. What is the competitive landscape like in the market?
4. What are the major drivers and restraints affecting the market?
5. What are the growth opportunities in the market?
6. What are the regional and local market conditions and consumer behavior?
7. What is the market size and growth forecast for different regions and countries?
8. What is the impact of government regulations and policies on the market?

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About Prophecy Market Insights:

Prophecy Market Insights is a specialized market research, analytics, marketing and business strategy, and solutions company that offer strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high value opportunities in the target business area. Also, we help our client to address business challenges and provide best possible solutions to overcome them and transform their business.

Read Related Insights:

Fiberglass and Glass Fiber Reinforcements Market-By Type (Fiberglass and Glass Fiber Reinforcements), By Application (Automotive and Transportation, Marine, Wind Energy, Building & Construction, Electricals & Electronics, and Consumer Goods), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2029

Fiberglass Fabric Market-By Fabric Type (Woven, and Non-Woven), By Fiber Type (E-glass), By Application (Wind Energy, Transportation, Electrical & Electronics, Construction, Marine, Aerospace & Defense), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trend, Analysis and Forecast till 2029

Shweta Raskar
Prophecy Market Insights
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