04-Oct-2022 | Facts and Factors
According to Facts and Factors, the global fiberglass market size was worth USD 27.10 billion in 2021 and is estimated to grow to USD 35.69 billion by 2028, with a compound annual growth rate (CAGR) of approximately 4.70% over the forecast period. The report analyzes the fiberglass market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the fiberglass market.
A substance called fiberglass is created from tiny strands of plastic glass. It is a type of fiber-reinforced plastic where the reinforced plastic contains glass fiber. It is also referred to as glass- or glass-fiber-reinforced plastic. Typically, the glass is flattened into a sheet and placed at random or weaved into a material. It is less brittle, robust, and lightweight.
Browse the full “Fiberglass Market Size, Share, Growth Analysis Report By Glass Type (E-Glass, ECR-Glass, S-Glass, AR-Glass, H-Glass, Others), By Resin Type (Thermoset Resins, Thermoplastic Resins), By Product Type (Glass Wool, Direct, Assembled Roving, Yarn, Chopped Strand, Others), By Application (Composites, Insulation), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/fiberglass-market
Additionally, it is malleable enough to take on many different forms. It is one of the most popular materials used in industrial gaskets because it offers superior insulation and safeguards the equipment. It is also utilized for bottling lines and brewhouses in the brewing sector.
The infrastructure & building industry's growing use of fiberglass is the main factor driving the global fiberglass market. The extensive usage of fiberglass will drive the fiberglass market in the production of automobiles and water storage systems. The use of fiberglass in architecture is becoming increasingly popular due to its advantages over other materials, including corrosion resistance, affordability, and lightweight. The growing need for insulation applications is driving the use of fiberglass materials in the building and construction industry. The growing interest in renewable energy sources has led to more wind turbine installations worldwide, raising the need for fiberglass in wind turbine blade production. During the projection period, it is anticipated that the expanding trend of producing advanced fiberglass in the wind energy industry would present profitable prospects for producers of fiberglass materials.
The global fiberglass market has been segmented into glass, resin, product, application, and region. The market is segmented into E-glass, ECR-glass, S-glass, AR-glass, H-glass, and others based on glass type. The S-glass segment dominated the glass-type segment in 2021. Based on resin type, the market is segmented into thermoset and thermoplastic. Thermostat resin dominated the market in 2021. Based on product type, the global fiberglass market is segmented into glass wool, direct & assembled fiberglass, yarn, shredded, and others. The yarn segment dominated the product type segment in 2021.
The global fiberglass market is segmented into geographical regions: North America, Latin America, Europe, Asia-Pacific, the Middle East & Africa. Asia-Pacific dominated the market in 2021. The growing interest in emission control policies and the growing demand for environmentally friendly products has led to technological advancements in composites. The replacement of traditional materials, such as steel and aluminum, with fiberglass, contributes to the growth of the fiberglass market in Asia Pacific. In addition, the growing demand for fiberglass from various industries, such as construction, transportation, automotive, and electronics, is expected to drive the fiberglass market in the Asia-Pacific region.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 27.10 Billion |
Projected Market Size in 2028 |
USD 35.69 Billion |
CAGR Growth Rate |
4.70% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
China Jushi Co. Ltd., Owens Corning, Nippon Electric Glass Co. Ltd., Taishan Fiberglass Inc., Chongqing Polycomp International Corp., Johns Manville Corp., Binani 3B-the Fibreglass Company, Taiwan Glass Ind. Corp., PFG Fiber Glass Co. Ltd., Asahi Fiberglass Co. Ltd., Knauf Insulation, Saint-Gobain Vetrotex, CertainTeed Corporation, Saint-Gobain ADFORS, AGY Holding Corp., and others. |
Key Segment |
By Glass Type, Resin Type, Product Type, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Key players in the global fiberglass market include China Jushi Co., Ltd., Owens Corning, Nippon Electric Glass Co., Ltd., Taishan Fiberglass Inc., Chongqing Polycomp International Corp., Binani 3B-the Fibreglass Company, Johns Manville Corp., Taiwan Glass Ind. Corp., PFG Fiber Glass Co., Ltd., Asahi Fiberglass Co., Ltd., Knauf Insulation, Saint-Gobain Vetrotex, CertainTeed Corporation, Saint-Gobain ADFORS, and AGY Holding Corp.
Recent Development:
- November 2021: Taishan Fiberglass Inc. (CTG) has announced a USD 250 million investment to establish a new yarn manufacturing facility in Gujarat, India, to serve the Indian and Middle East markets.
Global Fiberglass Market is segmented as follows:
By Glass Type
- E-Glass
- ECR-Glass
- S-Glass
- AR-Glass
- H-Glass
- Others
By Resin Type
- Thermoset Resins
- Thermoplastic Resins
By Product Type
- Glass Wool
- Direct and Assembled Roving
- Yarn
- Chopped Strand
- Others
By Application
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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