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Fiberglass Market Segments, Opportunity, Growth and Forecast By End-use Industry 2017 - 2027

04-24-2018 01:37 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Fiberglass Market Segments, Opportunity, Growth and Forecast

Market Definition and Introduction

Fiberglass is a type of a fiber-reinforced plastic which uses glass fiber for reinforcement purpose. These glass fibers could either be arranged arbitrarily, or compressed into a sheet known, or woven into a fabric. The plastic could be of a thermosetting type, such as an epoxy resin, polyester resin, or a vinyl ester, or it could be of the thermoplastic type. Fiberglass is manufactured through a process called pultrusion. Fiberglass has been found to be inexpensive than carbon fiber, and also demonstrates more flexibility than the latter. It also displays other multiple advantages vis-à-vis other reinforcing materials such as higher strength than most of the metals per unit weight. Fiberglass could also be molded into different shapes of varying complexities. It finds important applications in a diverse range of industrial applications such as aerospace, marine, automotive, construction, both interior & exterior.

Fiberglass finds vital applications in the telecom industry for the purpose of shrouding antennas, due to its desirable properties such as radio frequency (RF) permeability & low signal attenuation. Fiberglass is also used in the manufacture of sheet-form electrical insulating materials & structural components, which find applications in products used in the power industry. Fiberglass has also been found to be lightweight & durable. Hence, it also finds applications in the manufacture of protective equipment such as helmets and other sports accessories for protection, for instance, fiberglass protective gear, such as goaltenders’ and catchers’ masks.

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Considering these important aspects of applications of fiberglass, the study of the fiberglass market becomes an important read.

Market Segmentation

On the basis of material type, the fiberglass market is segmented as follows:

Glass wool fiberglass
Woven & continuous roving fiberglass
Polyester and chopped strand mat laminate fiberglass
Yarn fiberglass
Others

On the basis of utility type, the fiberglass market is segmented as follows:

A-glass (alkali glass) type fiberglass
C-glass (chemical glass) type fiberglass
E-glass (electrical glass) type fiberglass
S-Glass (structural glass) type fiberglass
D-glass (dielectric glass) type fiberglass

On the basis of application, the fiberglass market is segmented as follows:

Construction
Automotive
Industrial
Renewable energy
Aerospace
Electronics
Consumer goods
Others

Key Trends, Drivers

It could be observed that the necessary raw materials for the manufacture of fiberglass are inexpensive as well as easily available. Also, the rapidly growing construction industry worldwide has been a contributing factor to the rising demand for fiberglass & fiberglass products. There has been an introduction of low-cost fiberglass, which could potentially drive the demand growth of the fiberglass market in terms of volume, at a global level. In the wind energy business, fiberglass applications in the production of wind turbines has been fueling the growth rate of the global fiberglass market. Also, in the aerospace & defense and the automotive sectors, fiberglass applications in the manufacture of lightweight aircrafts and cars have been of significant importance in the recent times. The lightweight characteristics of fiberglass vis-à-vis metals has been of commercial value on account of the considerable fuel savings. These factors are expected to drive the growth of the global fiberglass market in the near future.

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An important application of chopped fiberglass strands in the automotive, shipbuilding, industrial and building construction industries has been to reinforce components. The rapidly growing automotive & shipbuilding industries coupled with large infrastructural investments in developing countries in the Asia Pacific & Latin American regions is expected to drive the growth of the fiberglass market in the recent times. The global automakers, in recent times, have been preferring fiberglass-based automotive components. This is so because fiberglass provides multiple automotive application advantages such as reduced weight, higher processing speed, and less emissions of volatile organic compounds, thereby enhancing the demand for fiberglass.

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