Global Fiber Glass Market is expected to reach ~USD 20 Bn by 2028F: Ken Research

Global Fiber Glass Market By Application

The Global Fiber Glass market is segmented by Application into Composites and Insulation.

The composites segment held the largest market share in the global fiber glass market in 2022, due to the rising automotive and construction industries.

The fiber glass composite materials help make automotive structures lighter in weight and exhibit high strength. With the rising environmental concerns, there is an increasing demand for lightweight composite materials across numerous industries for reducing carbon footprints.

Growing focus on the production of lightweight vehicles is driving the usage of fiberglass composites in the automotive industry.

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Global Fiber Glass Market By Geography

The Global Fiber Glass market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.

Asia Pacific held the largest market share among all other regions within the global fiber glass market in 2022, due to the growing demand for eco-friendly products that have led to technological advancements to augment the growth of the region.

The Asia Pacific is the largest consumer and producer of fiberglass owing to the presence of rapidly growing economies in the region such as China and India. Factors, such as the rising population, are likely to be the major drivers for the market in this region.

The rising disposable income coupled with the presence of key players in the Asia Pacific is likely to drive the regional market over the forecast period.

Competition Scenario in Global Fiber Glass Market

The Global Fiber Glass Market is highly competitive with ~150 players, including globally diversified players, regional players, and many country-niche players. Most of the regional players are the developers of Fiber Glass used in various end-user industries.

Country-niche players constitute ~35% of the total number of competitors, while regional players dominate representing ~50% of total competitors. Some of the major players in the market include ASAHI FIBER GLASS Co., Ltd., 3B - the fiberglass company, China Jushi Co., Ltd., Johns Manville, Knauf Insulation, Nippon Electric Glass Co. Ltd., Owens Corning, Saint-Gobain, xingtai jinniu fb glass, Taiwan Glass Industry Corporation, among others.

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What is the Expected Future Outlook for the Overall Global FIBER GLASS Market Across the globe?

The Global Fiber Glass market was valued at USD ~billion in 2022 and is anticipated to reach USD ~20 billion by the end of 2028, witnessing a CAGR of ~% during the forecast period 2022-2028. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Fiber Glass market is driven by the expansion of the construction sector. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

With the increasing collaboration and emergence of new products, the Global Fiber Glass market is changing rapidly. For instance, In January 2022, Therma-Tru, a renowned name in the door industry, announced the launch of its new sustainability-driven social initiative. Therma-Tru is known for its fiberglass door offerings that are made from 95% recycled content, and these sustainable offerings account for nearly half of its total fiberglass product portfolio.

In November 2021, Taishan Fiberglass Inc. invested US$ 250 million in the establishment of a Greenfield fiber manufacturing plant in Gujarat, India. With this plant, the company served the markets of India and the Middle East.

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

The Global Fiber Glass Market witnessed a negative impact due to COVID-19 owing to the strict regulations in several countries that temporarily halted all types of processes and shut down all the major industries. E-Glass type is the most common type of fiber glass among other types such as S-glass, ECR-glass, H-glass, and AR-glass. Majorly, the fiber glass is used in composites that can further be utilized in various end-use industries such as automotive, building & construction, aerospace & defense, marine, sports & leisure, pipe & tank, and others. Though the market is competitive with over ~150 participants, regional players control the dominant share in the market and country-niche players also hold a significant share.

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Key Topics Covered in the Report

Snapshot of Global Fiber Glass Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Fiber Glass Market
Historic Growth of Overall Global Fiber Glass Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of Global Fiber Glass Industry
Overview, Product Offerings, Strengths, & Weaknesses of Key Competitors
Covid-19 Impact on the Overall Global Fiber Glass Market
Future Market Forecast and Growth Rates of the Total Global Fiber Glass Market and Segments
Analysis of Global Fiber Glass Market
Major Production/Supply and Consumption/Demand Hubs within Each Region
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Region

Notable Key Players Mentioned in the Report

Asahi Fiber Glass Co., Ltd.
3B - the fibreglass company
China Jushi Co., Ltd.
Johns Manville
Knauf Insulation
Nippon Electric Glass Co.,Ltd.
Owens Corning
Saint-Gobain
xingtai jinniu fb glass
Taiwan Glass Industry Corporation

Notable Emerging Companies Mentioned in the Report

Fureho AB
Spintex Engineering Ltd.
Darshan Safety Zone
Fibtex Products
Smartshield Insulation

Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report

Fiber Glass Manufacturers
Fiber Glass Suppliers
E-Glass Manufacturers
ECR-Glass Manufacturers
H-Glass Manufacturers
AR-Glass Manufacturers
S-Glass Manufacturers
Fiber Glass Distributors
Emerging and Startup Companies in Fiber Glass
Government Departments of Polymers
Ministries and Departments of Plastics
Importers and Distributors of Fiber Glass

Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022E-2028F

For More Insights On Market Intelligence, Refer To The Link Below: -

https://www.kenresearch.com/business-research/global-fiber-glass-market-outlook-2028/

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.