Press release
Fiberglass Market Trend, Revenue, Features, Influence, Forecast, Industry till 2023
The Global Fiberglass Market is expected to witness a significant growth of USD 20.32 billion by 2023 with CAGR of 9.2% between 2016 and 2023.
Fiberglass which is also known as spun glass, glass-reinforced plastic (GRP), glass-fiber reinforced plastic (GFRP) or Glasfaserverstärkter Kunststof (GFK) is a reinforced plastic material containing glass fibers in a resin matrix. It has lightweight, moderate tensile and compressive strength and is easy to handle and machine, and excellent electrical properties.
Fiberglass is used in a varied range of industrial applications and is the most easily available and cheapest composite fabric. Fiberglass has found in various end use industry such as aerospace, automotive, construction, electrical, pharmaceutical, industrial, and others. The growing automotive and electrical industry on account of developing domestic as well as commercial market particularly in Asia-Pacific and North America has boosted the global fiberglass market over the forecasted period. On the other hand, environment & health related issues and unstable prices of raw materials are major restraining factors of the fiberglass market which can hamper the growth of global fiberglass market.
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Market Influence:
Data integration and capabilities are analyzed to support the findings and study the predicted geographical segmentations. Various key variables and regression models were considered to calculate the trajectory of fiberglass market. Detailed analysis is explained and given importance to with best working models.
Geographically, the segmentation is done into several key regions like North America, Middle East & Africa, Asia Pacific, Europe and Latin America. The production, consumption, revenue, shares in mill UDS, growth rate of fiberglass market during the forecast period 2023 is well explained.
Regional Analysis:
Presently, Asia Pacific region is the major market of fiberglass due to demand in various applications such as automotive and electrical industry especially in China, India followed by Japan. Whereas, increasing demand in construction industry in developing countries such as India, Indonesia, and Thailand made Asia Pacific largest consumer of the global fiberglass market followed by increasing in the consumption of Fiberglass market in North America region. Furthermore, Europe region hold third position for the global fiberglass market due to large consumption in pharmaceutical, construction, and electrical industry.
Segmentation:
The global fiberglass market is majorly segmented on the basis of types, end users and region. Based on types of fiberglass the market is segmented into A-glass, C-glass, D-glass, E-glass, R-glass, S-glass, and others (AR-glass, ECR-glass, etc.). By application, global fiberglass market is segmented into composites and insulation. Based on end user the market segmented into aerospace, automotive, construction, electrical, pharmaceutical, industrial, and others(wind energy, petrochemicals, etc.) and based on region market is segmented into North America, Europe, APAC, Latin America, Middle East & Africa.
Key Players:
Jushi Group Co. Ltd (China),
AGY Holding Corp. (U.S.),
Saint-Gobain Vetrotex (Europe),
PPG Industries Inc. (US),
Owens Corning (US),
Taiwan Glass Industry Corporation (Taiwan),
Taishan Fiberglass Inc (China),
PFG FIBER GLASS CORPORATION (Taiwan),
Fiber Glass Industries Inc (US),
W. L. Gore & Associates, Inc (US).
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