A recent report published by Infinium Global Research on fiberglass market provides in-depth analysis of segments and sub-segments in the global as well as regional fiberglass market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional fiberglass market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global fiberglass market. According to the report, the global fiberglass market is projected to grow at a CAGR of 6.1% over the forecast period of 2018-2024.
Fiberglass is a composite material made of a plastic matrix reinforced by fine fibers of glass. These fibers, when mixed with resins becomes a high-performance lightweight material used in the various applications. There are various types of fiberglass available in the market that includes, A-glass, C-glass, E-glass, AE-glass, S glass. Fiberglass is an extremely versatile material that has various forms.
The growing use of fiberglass in automobile, aircraft and aerospace manufacturing is driving the growth of the fiberglass market. Nowadays, the aluminum and steel in the manufacturing of the automobile parts are being replaced with fiberglass products. The fiberglass is capable of providing a lightweight and low-cost solutions in the automobile, aircraft and aerospace manufacturing. In addition, they also provide high-temperature resistance, better tensile strength, and dimensional stability. The fiberglass has various properties including corrosion resistance, ability to withstand high temperatures and adverse conditions that make them suitable in many industrial applications such as beverage industry, pulp, and paper industry, pulp and paper industry, power generation.
The growing industrial applications of fiberglass is anticipated to boost the growth of the fiberglass market. Fiberglass is commonly used in aircraft, boats, automobiles, swimming pools, storage tanks, roofing, pipes, cladding, and casts. Furthermore, fiberglass-reinforced plastic made from fiberglass is one of the toughest and most durable substances on earth. The adoption of fiberglass in the construction industry is rising rapidly and is expected to escalate owing to the growth of the infrastructure in the developing regions. However, the availability of substitutes such as carbon fiber and health issues related to fiberglass is hampering the growth of the fiberglass market. Additionally, the increasing application of fiberglass in wind turbine blades is projected to create more growth opportunities for the fiberglass market in upcoming years.
Geographically, North America held the maximum market share in the glass fiber market in 2016 and it is anticipated to be the dominating region over the forecast period. The high consumption of fiberglass across various industries in North America region is driving the growth of fiberglass market in this region. In addition, the presence of well-established players in this market is contributing to the growth of the fiberglass market. Furthermore, Asia Pacific is the fastest growing region in the fiberglass market owing to the high adoption of fiberglass in the constructing and automotive applications.
The report on global fiberglass market covers segments such as applications, fiber types, and end-user. On the basis of applications, the sub-markets include composites, insulation, and others. On the basis of fiber types, the sub-markets include yarns, rovings, mats, fabrics, strands, and others. On the basis of end-user, the sub-markets include automobiles, aerospace & defense, marine, pipe & tank, sports & leisure, wind energy, construction, and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in this region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China
The report provides profiles of the companies in the market such as Pioneer Natural Resources Company., Saint-Gobain, ECPlaza Network Inc., Johns Manville., China Jushi Co. Ltd, Owens Corning, Formosa Plastics Group, Chongqing Polycomp International Corp, Nippon Electric Glass Co., Ltd, and 3B - the fibreglass company.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of fiberglass market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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