Fiberglass Market Surges to USD 18.29 Billion by 2031, Propelled by 4.7% CAGR - Verified Market Research®
Lewes, Delaware, July 11, 2024 (GLOBE NEWSWIRE) -- The Global Fiberglass Market Size is projected to grow at a CAGR of 4.7% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 12.48 Billion in 2024 and is expected to reach USD 18.29 Billion by the end of the forecast period.
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Browse in-depth TOC on “Global Fiberglass Market Size”
202 - Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Owens Corning (US), Saint-Gobain (France), Nippon Electric Glass (Japan), Jushi Group Co. Ltd. (China), 3B-The Fiberglass Company (Belgium), PPG Industries (US), Johns Manville, Taishan Fiberglass Inc. (CTG Group), Chongqing Polycomp International Corp. (CPIC). |
| SEGMENTS COVERED | By Type of Glass Fiber, By Product Forms, By Application Areas, By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Fiberglass Market Overview
High Strength-to-Weight Ratio: The fiberglass market is advantageous due to the material's remarkable strength-to-weight ratio, which makes it well-suited for industries such as automotive and aerospace that prioritize weight reduction without sacrificing strength. This demand is expected to greatly stimulate market expansion in the upcoming years.
Corrosion Resistance: The inherent corrosion resistance of fiberglass makes it a popular choice for construction and marine applications, where longevity and durability are of utmost importance. This attribute not only improves the longevity of the product but also decreases the expenses associated with maintenance, hence stimulating the growth of the market.
Versatility Across Industries: Fiberglass's versatility in other sectors, including as wind energy and sporting products, contributes to its rapid market expansion. The expansion and innovation of these industries will lead to an increased demand for versatile materials such as fiberglass, which will further drive the market's growth.
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High Production Costs: The substantial expenses involved in fiberglass manufacture can restrict its acceptance, particularly for projects that prioritize cost efficiency. This economic obstacle can impede the process of entering and expanding in the market, especially in developing economies or in situations where the size of operations is limited.
Environmental Concerns: The manufacturing and disposal of fiberglass pose substantial environmental issues. The production process entails significant energy consumption and emissions, which could draw strict regulatory attention, thus impeding market expansion.
Competition from Alternative Materials: The fiberglass industry encounters intense competition from alternative materials such as carbon fiber and sophisticated composites. These materials frequently exhibit exceptional performance attributes, albeit at a greater expense, which presents a competitive challenge that may impede market growth.
Geographic Dominance:
The fiberglass market is predominantly controlled by the Asia-Pacific region due to its rapid industrialization, expanding building sectors, and growing demand for lightweight and durable materials in the automotive and wind energy industries. The economic expansion in this area, along with favorable government measures and expenditures in infrastructure, greatly enhances market demand. As a result, the dominance of the Asia-Pacific region promotes innovation, increases production capacity, and improves the growth prospects of the regional market.
Fiberglass Market Key Players Shaping the Future
Major players, including Owens Corning (US), Saint-Gobain (France), Nippon Electric Glass (Japan), Jushi Group Co. Ltd. (China), 3B-The Fiberglass Company (Belgium), PPG Industries (US), Johns Manville, Taishan Fiberglass Inc. (CTG Group), Chongqing Polycomp International Corp. (CPIC). and more, play a pivotal role in shaping the future of the Fiberglass Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry's key players.
Fiberglass Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Fiberglass Market into Type of Glass Fiber, Product Forms, Application Areas, And Geography.
To get market data, market insights, and a comprehensive analysis of the Global Fiberglass Market, please Contact Verified Market Research®.
- Fiberglass Market, by Type of Glass Fiber
- E-Glass
- S-Glass
- C-Glass
- AR-Glass (Alkali-Resistant Glass)
- Fiberglass Market, by Product Forms
- Roving
- Mat
- Fabric
- Yarn
- Fiberglass Market, by Application Areas
- Construction
- Automotive
- Aerospace
- Wind Energy
- Marine
- Electronics
- Sports and Leisure
- Others
- Fiberglass Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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Top Smart Glass Manufacturers working synergistically towards a sustainable future
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