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 Forecasts to 2028″, is estimated at USD 27.7 billion in 2022 and is projected to reach USD 44.3 billion by 2028, at a CAGR of 7.3% from 2023 to 2028. Factors such as the superior properties of fiberglass materials like corrosion resistance, lightweight and high strength, durability, and improved performance are positively driving the growth of the fiberglass Market. Furthermore, The rising applications from emerging economies and the adoption of composites and fiberglass will further propel the growth rate of the fiberglass market. The development of new technologies such as 3D printing, automation, and digital design tools is making producing fiberglass components easier and more cost-effective.
Browse
• 150 Market data Tables
• 80 Figures
• 300 Pages and in-depth TOC on “Fiberglass Market – Global Forecast to 2028″
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: Increased demand from emerging economies and growing demand for fiberglass materials
The fiberglass market is expected to grow in emerging economies such as India, China, and Brazil due to increasing construction and infrastructure development activities in these countries. The increasing demand for lightweight and high-strength materials in various industries such as automotive, aerospace, and construction is expected to boost the demand for fiberglass and other composite materials and fiberglass materials.
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.
Asia Pacific is expected to account for the largest share in 2022
The fiberglass market has been studied in North America, Europe, Asia Pacific, the Middle East & Africa, and South America. The Asia-Pacific fiberglass market is driven by the growing need for energy, which propels the need for fiberglass materials in construction, electronics, and other industries. The Asia Pacific region is one of the largest markets for fiberglass globally, with China, India, and Japan being the major contributors to the market growth. The increasing demand for fiberglass in various industries such as construction, automotive, aerospace, and wind energy is driving market growth in the region. China is the largest market for fiberglass in the Asia Pacific region, accounting for a significant market share. The country has a large number of fiberglass manufacturers, and the demand for fiberglass is expected to grow further due to the rapid growth of the construction and automotive industries.
