Fiberglass Market to Grow USD 44.3 billion by 2028, at a CAGR of 7.3%

The fiberglass market is projected to grow from USD 27.7 billion in 2022 to USD 44.3 billion by 2028, at a CAGR of 7.3% during the forecast period. S-glass is a high-performance type of fiberglass that is known for its exceptional strength and stiffness. It is made by drawing glass fibers from a molten glass pool using a process called fiberization. S-glass is composed of a high percentage of silica and magnesium oxide, giving it superior properties to other fiberglass types. S-glass is a high-performance material that is used in applications where strength and stiffness are critical. As industries such as aerospace, defense, and automotive continue to demand high-performance materials, the demand for S-glass is expected to increase. S-glass is a lightweight material that can be used to produce composite materials that are strong and durable. As industries such as aerospace and automotive increasingly focus on light weighting to improve fuel efficiency and reduce emissions, the use of S-glass is expected to increase.

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The report provides a comprehensive analysis of company profiles:

Prominent companies include China Jushi Co., Ltd. (China), Owens Corning (US), Saint-Gobain (France), Taishan Fiberglass Inc. (CTG Group) (China), Chongqing Polycomp International Corp. (CPIC) (China), Nippon Electric Glass Co., Ltd. (Japan), 3B-the fiberglass company (Belgium), among others.

The fiberglass market is a global industry that produces and sells fiberglass, a material made of fine glass fibers. Fiberglass is used in a variety of applications due to its excellent properties such as strength, durability, and resistance to heat and corrosion.

The market for fiberglass is driven by a wide range of end-use applications, including construction, automotive, aerospace, wind energy, marine, electrical and electronics, and others. The growing demand for lightweight materials in the automotive and aerospace industries, as well as the increasing demand for energy-efficient buildings, are some of the major factors driving the growth of the fiberglass market.

In terms of product type, the market is segmented into glass wool, direct and assembled roving, chopped strand, yarn, and others. Glass wool is the largest segment in terms of volume, owing to its extensive use in insulation applications.

Geographically, the Asia Pacific region is the largest market for fiberglass, followed by North America and Europe. The growth of the fiberglass market in the Asia Pacific region can be attributed to the increasing demand for construction and automotive applications, especially in emerging economies such as China and India.

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This release was published on openPR.