Le Lézard
Classified in: Business, Covid-19 virus
Subject: MRR

Fiber Glass Global Market to Reach $20 Billion by 2028: Key Players Include China Jushi, Johns Manville, Knauf Insulation, Nippon Electric Glass and Owens Corning


DUBLIN, March 24, 2023 /PRNewswire/ -- The "Global Fiber Glass Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Glass Type, Product Type, Application, End-User and Region" report has been added to  ResearchAndMarkets.com's offering.

Research and Markets Logo


According to this analysis, the Global Fiber Glass Market was valued at ~US$ 12 billion in 2017. It is estimated to be ~US$ 15 billion in 2022 and is forecasted to reach a market size of ~US$ 20 billion, growing at a CAGR of ~5% owing to the rising demand from the manufacturing industry.

The expansion of the construction sector is the main driver for the growth of the fiberglass market. The market is growing due to a notable rise in attention paid to infrastructure and road quality. In the construction industry, fiberglass is used in mesh fabrics that prevent cracks in interior walls, floor covering, wall covering, in self-adhesive drywall tapes, waterproofing frit, and others.

There has been a significant rise in modern architecture in recent years, leading to the development of modern materials such as glass fiber.

The major challenge faced by the fiberglass market is the negative environmental effects during the production of the material. Fiberglass processing and production require a high volume of energy and resources which generally have an adverse impact on the environment.

Fiberglass production generates not just air pollution but also solid and liquid waste. Strict restrictions and standards established by the governments of different countries may impede the growth of the fibreglass industry, influencing the overall market.

The market was negatively impacted by the COVID-19 pandemic during the first half of 2020, as most of the end-use industries that use fiberglass were shut down and sales of fiberglass saw a major change of trend during this period.

Production halts and supply chain disruptions during the COVID-19 pandemic led to the suspension of several other activities along the value chain of industries, such as automotive, construction, aerospace, and others.

However, the market is expected to exhibit significant growth in the forecast period due to surging demand for fiberglass material products in the textile industry.

Scope of the Report

The Fiber Glass market is segmented by glass type, product type, application, end-user, and region. In addition, the report also covers the market size for each of the four regions' Fiber Glass market. The revenue used to size and forecast the market for each segment is US$ billion.

Glass Type

Product Type

Application

End-User

Region

Key Players

Key Trends by Market Segment

By Glass Type: The E-Glass segment held the largest market share in the global fiber glass market in 2021, due to its qualities such as high flexibility, corrosion, and abrasion resistance

E-glass is produced from the oxides of magnesium, calcium, boron, and aluminum It is lightweight woven plastic fabric that is frequently utilized in maritime, industrial, and aerospace applications

The S-glass segment is expected to register the highest CAGR during the forecast period, as it has high compressive strength, and high-temperature resistance, as a result, it is widely used in composites and textile industries.

By Product Type: The glass wool segment held the largest market share in the global fiber glass market in 2021, as it is widely used as an indoor thermal and acoustic insulation material.

Glass wool is a popular indoor thermal and acoustic insulation material. The product is most typically used beneath pitched roofs, on hardwood floors, or on interior walls.

The chopped strands segment is expected to register the highest CAGR during the forecast period, due to its wide usage as a reinforcement material with high performance resin in automotive and electronics industries.

By Application: The composites segment held the largest market share in the global fiber glass market in 2021, due to the rising automotive and construction industries.

The fiber glass composite materials help make automotive structures lighter in weight and exhibit high strength. With the rising environmental concerns, there is an increasing demand for lightweight composite materials across numerous industries for reducing carbon footprints.

Growing focus on the production of lightweight vehicles is driving the usage of fiberglass composites in the automotive industry.

By Region: Asia Pacificheld the largest market share among all other regions within the global fiber glass market in 2021, due to the growing demand for eco-friendly products that have led to technological advancements to augment the growth of the region.

The Asia Pacific is the largest consumer and producer of fiberglass owing to the presence of rapidly growing economies in the region such as China and India. Factors, such as the rising population, are likely to be the major drivers for the market in this region.

The rising disposable income coupled with the presence of key players in the Asia Pacific is likely to drive the regional market over the forecast period.

Frequently Asked Questions

What is the Study Period of this Market Report?

What is the Future Growth Rate of the Global Fiber Glass Market?

What are the Key Factors Driving the Global Fiber Glass Market?

Which is the Largest Application Segment within the Global Fiber Glass Market?

Who are the Key Players in the Global Fiber Glass Market?

For more information about this report visit https://www.researchandmarkets.com/r/b2nk5x

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets


These press releases may also interest you

at 00:11
In recent years, with rapid growth of the global wealthy population and demand for wealth management, family office business, as an important field to promote rapid growth of the asset and wealth management industry, is a significant direction which...

28 mai 2023
Note: All times local National Capital Region, Canada Private meetings 11:20 a.m.      The Prime Minister will attend the official welcoming ceremony for the President of Iceland, Guğni Th. Jóhannesson. Notes for media: Open coverageMedia are asked...

28 mai 2023
OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, today published its seventh monthly Proof of Reserves (PoR) showing USD$10 billion in BTC, ETH and USDT. The newest PoR, which also includes coverage...

28 mai 2023
In China's eastern coastal province of Zhejiang, the port stands witness to the boom of trade, while the pulse of investment could be taken on an annual symposium....

28 mai 2023
The Prime Minister, Justin Trudeau, today issued the following statement on the result of the presidential election in Türkiye: "On behalf of the Government of Canada, I congratulate the President of Türkiye, Recep Tayyip Erdo?an, on his re-election....

28 mai 2023
On May 27, Veken Technology (hereinafter referred to as "Veken", stock code: 600152) and ESY SUNHOME held a strategic cooperation signing ceremony at the sodium battery production and commencement ceremony. The two parties will explore the...



News published on and distributed by: