Global Fiberglass Market Key Players, Demands, Size, Share, Glass Type and Forecasts to 2027

The global fiberglass market 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 composites are 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 materials from the automotive industry support the demand for fiberglass in the wind energy and automotive end-use industry.

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"S-Glass Type is the fastest-growing Glass Type of fiberglass, in terms of value."
S-glass has similar properties as E-glass but is stronger and stiffer than E-glass. High-strength S-glass is made with magnesium aluminosilicate. S-glass fiber offers high performance at elevated temperatures; it is used in applications that demand high strength and stability under extreme temperatures and corrosive environments.
S-glass is also available in the global market and is the highest-performing fiber available at present. It is produced with a higher content of silica than standard glass fiber products. This glass type is widely used for the textile and composite industries. It has high compressive strength, high-temperature resistance, and improved impact resistance.

"Chopped Strand is the fastest-growing product type of fiberglass, in terms of value."
Chopped strands are fiberglass strands that are used to provide reinforcement to thermoplastic and thermoset composites. These strands can be mixed with resins to produce reinforcing gap filler for construction activities. Chopped strands used with polyester resins produce strong, stiff, and durable laminates, which are primarily utilized to manufacture water tanks, boats, and industrial equipment. Chopped strand mats made from glass fiber filaments can be oriented either randomly or evenly. They are suitable for hand lay-up process using thermoset resins for manufacturing a wide range of products for automobile, recreation, and chemical industries.

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"Composites is the fastest-growing application of fiberglass, in terms of value."
Based on application, the fiberglass market is segmented into composites and insulation. In terms of value, the composites segment accounted for a significant share of the fiberglass market in 2021. The larger share of the composites application segment can be attributed to the high growth of the construction and automotive industries in the Asia Pacific and North America.
"APAC is the fastest-growing fiberglass market."
APAC is expected to be the largest market for fiberglass during the forecasted years. The high market share for the region is attributed to various favorable government policies in order to protect volatile fuel prices in the region along with rules and regulations against GHGs emissions. These policies and regulations are fuelling the growth of wind energy installations in the region specifically in China, India, and South Korea. The growth of end-use industries is automatically having an impact on the demand for fiberglass across the region. Europe followed by North America also contributes a significant share of the global fiberglass market.

This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into the following three categories:
• By Company Type- Tier 1- 60%, Tier 2- 20%, and Tier 3- 20%
• By Designation- C Level- 33%, Director Level- 33%, and Managers- 34%
• By Region- North America- 20%, Europe- 25%, APAC- 25%, Latin America-10%, MEA-20%

The report provides a comprehensive analysis of company profiles listed below:
• China Jushi Co., Ltd. (China)
• Owens Corning (US)
• Nippon Electric Glass Co., Ltd. (Japan)
• Taishan Fiberglass Inc. (CTG) (China)
• Chongqing Polycomp International Corp. (CPIC) (China),
• Saint-Gobain Vetrotex, (US)
• Johns Manville Corp. (US)
• Asahi Fiberglass Co., Ltd., (Japan)
• Knauf Insulation, (Belgium)
• Others

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Research Coverage:
This report covers the global fiberglass market and forecasts the market size until 2027. The report includes the market segmentation-Glass Type (E-Glass, ECR-Glass, H-Glass, AR-Glass, S-Glass, and others), Product Type (Glass Wool, Direct and Assembled Woving, Chopped Strand, Yarn, and Others), Application (Composites, and Insulation), and Region (Europe, North America, APAC, South America, and MEA). Porter's Five Forces analysis, along with the drivers, restraints, opportunities, and challenges, are discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global fiberglass market.

Key benefits of buying the report:
The report will help market leaders/new entrants in this market in the following ways:
• This report segments the global fiberglass market comprehensively and provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
• The report helps stakeholders understand the pulse of the fiberglass market and provides them with information on key market drivers, restraints, challenges, and opportunities.
• This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, and acquisitions.

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