Fiberglass Market - Global Industry Size 2024

Global Fiberglass Market: Overview

Gains in the global fiberglass market will largely stem from a rebound in the construction sector and the mounting use of glass fiber in insulation. Headwinds that will slow down the market’s growth include the invasion of low-cost fiberglass and a slowdown in growth in maturing markets. Fiberglass, a material produced by using ultrathin strands of glass to reinforce the plastic matrix, is desired in several applications because of the strength and lightness it lends. The commercial production of fiberglass has taken off worldwide also because the required raw materials are both economical and abundantly available. The preference for fiberglass over carbon fiber has also given the market for former a lift.

The report on the global fiberglass market analyzes the factors that will have a veritable impact on both volume sales and revenue generation. The report shears the global fiberglass market down to the application-, region-, and end-user-level segments. By doing so, the report is able to spot trends and opportunities that are in the making. Likewise, imminent threats and how companies can counter them are discussed in the report.

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Global Fiberglass Market: Segmentation

For the purpose of this study, the global fiberglass market has been segmented based on application into: Automotive, consumer goods, infrastructure, construction, and transportation. Based on geography, the report shears the market down into: Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. The Asia Pacific fiberglass market will be a hotbed of fiberglass manufacturing activity, impelled by the escalating consumption of fiberglass in China. The consumer electronics, construction, and wind energy sectors in the country are underpinning the growing demand for fiberglass in China.

The key types of fiberglass available on the market include yarns and roving fiberglass. The uses of fiberglass range from aircraft to septic tanks and from roofing to external door skins. The report creates a holistic picture of the global fiberglass market before drilling down to the second and third level segmentation.

Global Fiberglass Market: Opportunities and Restraints

The pressing need for lightweight automobiles and aircraft will act as a primary growth driver for the global fiberglass market. The trend of replacing heavier metal components with lighter weight fiberglass parts has created a window of opportunity for the fiberglass market in emerging countries, and stirring up some fresh demand in otherwise stagnant mature markets. According to the report, the copious use of fiberglass in wind turbines has made the wind energy sector a valuable consumer for companies in the global fiberglass market.

TMR analysts find that the global market being inundated with low-cost fiberglass will dent revenue growth. At the same time, the demand in mature markets is expected to be lackluster – another factors that will cause a marginal dip in global revenue gains. By training their focus on hitherto untapped markets, companies in the global fiberglass market can mitigate the impact of these restraints.

Global Fiberglass Market: Key Players

The thriving fiberglass industry and massive production capacities in China will lead to manufacturers from this country gaining an upper hand in the global fiberglass market, the report notes. At the global level, companies that currently prominently feature in the fiberglass market are: Guardian Global, Owens Corning Corporation, Jushi Group Co. Ltd., Fiber Glass Industries Inc., and China National Materials Group Corp. The market wears a consolidated look because companies with large production capacities have an appreciable advantage over smaller, local players.

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