Fiberglass Market Trends, Forecast 2023-2030: AGY Holding Corp, Saint-Gobain ADFORS, CertainTeed Corporation, Saint-Gobain Verotex

Delvens published an exclusive report, titled, "Fiberglass Market Trends, Forecast 2023-2030: AGY Holding Corp, Saint-Gobain ADFORS, CertainTeed Corporation, Saint-Gobain Verotex". Fiberglass Market by Power Source (Battery-Powered, hardwired with battery backup, Hardwired without battery backup), Type (Photoelectric Smoke Detectors, Ionization Smoke Detectors), Service, Distribution Channel, and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).

The global Fiberglass Market size is projected to reach a CAGR of 6.50% from 2023-2030.

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Fiberglass Market Competitive Landscape:

AGY Holding Corp
Saint-Gobain ADFORS
CertainTeed Corporation
Saint-Gobain Verotex
Knauf Insulation
Asahi Fiberglass Co Ltd
PFG Fiber Glass Co Ltd
Taiwan Glass Ind Corp
Binani 3B-the Fiberglass Company
Johns Manville Corp

April 13, 2022, SGL Carbon presents carbon fiber material and forged carbon fiber composite solutions for automotive series production and industrial applications. At this year's JEC World, SGL is expected to present the so-called stacks, precisely tailored and customer-specifically assembled packages of carbon fiber layers. Experts at SGL Carbon are working closely with their customers to make component production with the material carbon particularly efficient and to integrate it optimally into existing customer processes.

In July 2021, Owens Corning acquired Vliepa GmbH to broaden its non-woven product catalog, aiming to serve the building and construction sector in the European region.

Fiberglass is a material made from small threads of plastic glass. It is a form of fiber-reinforced plastic where glass fiber is in the reinforced plastic. It is also known as glass-reinforced plastic or glass fiber-reinforced plastic. The glass is usually flattened into a sheet randomly arranged or woven into a fabric. It is lightweight, strong, and less brittle. It is also flexible enough to be able to get molded into various shapes. It is one of the widely preferred materials used in industrial gaskets as it provides better insulation and protects the machinery as well. It is also used in the brewery industry for bottling lines and brewhouses.

The rise in the use of fiberglass composites in the automotive industry is a major driving factor for this market. It has a higher strength-to-weight ratio which plays an essential role in automobile manufacturing. Strict regulations force the automotive industry to minimize carbon emissions. This has motivated the industry to introduce fuel-efficient lightweight vehicles to help reduce greenhouse gas emissions.

On the other hand, high manufacturing and non-recurring development costs impact the penetration of fiberglass composites in a wide range of applications including marine, and other consumer goods. Process standardization, design consistency, and maintenance technology are the major issues of concern and will hamper the growth of the market.

Due to the spread of COVID-19, the fiberglass market witnessed a decline across the world. The raw materials used in making fiberglass are soda ash, lime, and silica. China is a hub of fiberglass manufacturing and a major supplier of raw materials for manufacturing fiberglass. The outbreak of COVID-19 has affected the supplies of these raw materials in China. The country is a major supplier of soda ash. The break in the supply of such raw materials has reduced the production of fiberglass and fiberglass composites. Owing to lockdowns globally, the production and transportation of fiberglass have significantly declined, affecting the business of fiber as well as prepreg and composites manufacturers.

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Fiberglass Market Key Findings

Fiberglass is a material made from small threads of plastic glass. It is a form of fiber-reinforced plastic where glass fiber is in the reinforced plastic. It is also known as glass-reinforced plastic or glass fiber-reinforced plastic. The glass is usually flattened into a sheet randomly arranged or woven into a fabric. It is lightweight, strong, and less brittle. It is also flexible enough to be able to get molded into various shapes. It is one of the widely preferred materials used in industrial gaskets as it provides better insulation and protects the machinery as well. It is also used in the brewery industry for bottling lines and brewhouses.

The glass segment is further fragmented into -Glass, AR Glass, S-Glass, ECR Glass, E-Glass, and Others. E-Glass contains aluminum boron silicate glass fibers containing alkali oxide components such as aluminum oxide. It is the most widely used glass fiber formula in the world.

The rise in the use of fiberglass composites in the automotive industry is a major driving factor for this market. It has a higher strength-to-weight ratio which plays an essential role in automobile manufacturing. Strict regulations force the automotive industry to minimize carbon emissions. This has motivated the industry to introduce fuel-efficient lightweight vehicles to help reduce greenhouse gas emissions.

The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Asia Pacific is the largest and fastest-growing market for fiberglass globally. The increasing focus on emission control policies and the growing demand for eco-friendly products has led to technological advancements in the field of composites. The replacement of traditional materials, such as steel and aluminum, with fiberglass is contributing to the growth of the fiberglass market in the Asia Pacific.

Regional Analysis

Asia Pacific to Dominate the Market

Asia Pacific is the largest and fastest-growing market for fiberglass globally. The increasing focus on emission control policies and the growing demand for eco-friendly products has led to technological advancements in the field of composites. The replacement of traditional materials, such as steel and aluminum, with fiberglass is contributing to the growth of the fiberglass market in the Asia Pacific.

Additionally, the rising demand for fiberglass from various industries, such as construction, transportation, automotive, and electronics, is expected to drive the growth of the fiberglass market in the region.

Delvens Industry Expert's Standpoint

The growing need for lightweight and high-strength materials across a range of end-use sectors is anticipated to fuel the growth of the fiberglass market in the upcoming years. Because these sectors demand strong, lightweight materials with high thermal and electrical qualities, the automotive, aerospace, and construction industries are anticipated to contribute significantly to the growth of the fiberglass market. The desire for electric automobiles and more energy-efficient structures is also anticipated to fuel the expansion of the fiberglass industry. The market may encounter difficulties, nevertheless, as a result of the availability of substitute products and the shifting cost of raw resources. Overall, the fiberglass market is expected to develop over the next several years, and businesses in the sector must prioritize innovation and cost reduction to remain competitive.

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