Fiberglass Mold Market 2021 Explosive Growth With Technical Aspects By Major Players Dencam Composites, Gurit Holding AG, Janicki Industries, Etc.

Market Size – USD 345.7 Million in 2020, Market Growth - CAGR of 7.80%, Market Trends – The rising applications of fiberglass mold in the industry vertical industries.

The global Fiberglass Mold Market is forecast to reach USD 631.8 Million by 2028, according to a new report by Reports and Data. The growing demand for renewable energy sources is one of the significant factors contributing to the growth of the market. Fiberglass is stronger and has a high resistance to corrosion. The materials are ideal for products used outside, in states near the ocean, with a high salt content in the air. Fire-retardant resins make products withstand fire. There are very few limitations with molding fiberglass, providing unlimited possibilities for manufacturers. This makes it possible to design visually appealing ones that are still as structurally strong and durable.

The Asia Pacific region held the largest market share of ~29% in the year 2018 and is anticipated to witness the highest CAGR of 9.4% during the forecast period. The rapid growth in the demand for fiberglass mold will contribute to the growth of the market in the region. The rising population, growing industrialization, and urbanization, coupled with the expanding chemicals & materials, construction, automotive, and other industries in the region will also escalate the growth of the market.

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This study relies on the evolution of the industry to derive the trends that are observed. A significant increase in the Asian and the Middle Eastern market is visible, which promises the expansion of the market in the coming years. The chemical industry has witnessed vast growth in the Chinese chemicals sector, which is in turn affecting the value-chain of the European chemicals market. Europe’s chemical market decline could also be blamed on slow innovation rates. The mobility trends that have been observed in the industry are indicative of a drop in the development of transportation fuels, which is pushing the manufacturers to rethink their petrochemical strategy, owing to the chemical and petrochemical integration. A global initiative to ban plastics widely in the market is stemming from the environmental impact of the resins. The Chinese market is highly influenced by the economic transitions, fuel regulations, technological developments, private ownership, capital cost advantage, international trade and progress in the specialty chemicals among others. North America is attracting massive investment for its gas-based chemicals. The growing uncertainties regarding the prices of crude oil will affect the competitive landscape. Meanwhile, factors such as fluctuating prices of crude oil, fiscal policies, rising geopolitical tensions, trade disputes coupled with currency fluctuations might cause a decline in the global growth of the market.

Key companies profiled in the report:

Dencam Composites,
Gurit Holding AG,
Janicki Industries,
Norco Composites & GRP,
SCHÜTZ GmbH & Co. KGaA,
TPI Composites,
Shandong Shaungyi Technology,
Indutch Composites Technology,
EUROS GmbH,
and Molded Fiber Glass Companies,
among others.

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Regions covered in the report:

North America (U.S.A., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Global Fiberglass Mold Market Product Segmentation:

Polyester
Vinyl Ester
Epoxy
Others

Global Fiberglass Mold Market Composite Phases:

Matrix
Dispersed Phase
Interface

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