Fibres and Yarns | Market Reports

Fiberglass Market worth $38.8 billion by 2027

Published: February 4, 2023
Author: TEXTILE VALUE CHAIN

The report Fiberglass Market by Glass Type (E-Glass, ECR-Glass, H-Glass, AR-Glass, S-Glass), Product Type (Glass Wool, Direct and Assembled Roving, Yarn, Chopped Strand), Application (Composites, Insulation) and Region – Global Forecast 2027″, size is expected to grow from USD 27.5 billion in 2022 to USD 38.8 billion by 2027, at a CAGR of 7.1% during the forecast period. Fiberglass is being used in the construction & infrastructure, aerospace, wind energy, automotive, electronics,  and other end-use industries. The increasing wind energy projects and demand of lightweight material from automotive industry support the demand for fiberglass in the wind energy and automotive end-use industry.

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•  358 Market data Tables
•  48 Figures
•  314 Pages and in-depth TOC on “Fiberglass Market – Global Forecast to 2027”

Some of the prominent key players are:

  • China Jushi Co., Ltd. (China)
  • Owens Corning (US)
  • Nippon Electric Glass Co., Ltd. (Japan)
  • Taishan Fiberglass Inc. (CTG) (China)
  • Chongqing Polycomp International Corp. (CPIC)

Opportunities: Increasing number of wind energy capacity installations is an opportunity for fiberglass market to grow

Fiberglass composites get widely used in the wind energy industry as they offers good strength-to-weight ratio. Many countries, such as China, Germany, and Spain, are making efforts to restructure their energy systems in favor of renewable sources. According to the Global Wind Energy Council (GWEC), by 2035, the renewables industry is expected to generate more than 25% of the world's electricity, out of which a quarter is expected to be derived from wind, which also helps in reducing the carbon dioxide (CO2) emissions. Wind energy is a viable option for electricity generation, as it is a cost-effective option while adding new generation capacity to the grid.

E-glass type comprises a major share of the fiberglass market in terms of value.

E-glass, also known as an electrical grade glass, has electrical insulation property. E-glass was initially developed for electrical wiring applications. However, technological advancements in the field of E-glass have widened its applicability across various sectors, such as wind energy, marine, and electrical & electronics. E-glass is cost-efficient, corrosion-resistant, and lightweight. Owing to its wide-ranging applications, it is considered to be the most widely used glass fiber around the world during the forecast period.

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APAC is expected to account for the largest market share in the fiberglass market during the forecast period.

APAC is the largest fiberglass market in terms of volume and is expected to maintain its lead during the forecast period. The remarkable growth in various end-use industries such as construction & infrastructure, wind energy, automotive, and electrical & electronics are driving the demand for fiberglass products from the region. Europe is the second major consumer of fiberglass aerospace, and wind energy are the major industries fueling the growth of the fiberglass market in this region.

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