A recent
report ongoing study by Infinium Global Research on the global fiberglass
composites market provides an in-depth analysis of segments and sub-segments in
the global as well as regional global fiberglass composites market. The study
also highlights the impact of drivers, restraints, and macro indicators on the
global and regional global fiberglass composites market over the short term as
well as long term. The report is a comprehensive presentation of trends,
forecasts, and dollar values of the global fiberglass composites market.
According to the report, the global fiberglass composites market is projected
to grow at a CAGR of about 5% over the forecast period of 2022-2028.
The global
fiberglass composites market was valued at over USD 12.5 Billion in 2022 and is
expected to reach nearly USD 17 Billion in 2028, with a CAGR of about 5% during
the forecast period. Fiberglass consists of various fine strands of silica
polymers which, relying on the kind, include alkali oxides, aluminum,
boron, or other trace molecules. The resultant composite is strong,
lightweight, and versatile when embedded within an epoxy matrix and cured. It's
manufactured in several forms for specific permutations of fabric properties
like enduringness, tenacity, compression strength, and thermal expansion,
similarly for various price points. Fiberglass is combined with resin to make a
strong and sturdy composite. Fiberglass or optical fiber could be a reinforced
plastic material that's composed of a woven material that's embedded with glass
fibers which are randomly laid across each other and held along with a binding
substance.
Increased
demand for lightweight fiberglass composites within the transportation segment
is one of the important factors driving the expansion of the market. The key
growth drivers related to this market are the increase in automotive production
and also the increasing demand for durable and lightweight materials due to
stringent government regulations to decrease greenhouse emission emissions. The
future of the worldwide fiberglass composites market looks bright with
opportunities in various industries, like automotive, construction, healthcare,
and several other industries. The marketplace for fiberglass composites within
the industry is anticipated to be the fastest-growing industry, due to the
extensive range of utilization. One among the explanations for fiberglass composite's
relative success is its several advantages in comparison to steel. However, the
factors like health hazards related to fiber composites may hamper the market
growth.
In terms of
region, the global fiberglass composites market is segmented into North
America, Europe, Asia Pacific, Africa, and the Middle East. North America holds
the biggest market share, because of the supportive government regulation to
reduce hazardous gas emissions in the region. Increasing investment in Research
and Development in this sector by major players will enhance the market growth
in the region. Moreover, the rising utilization of fiberglass in the automotive
industry in European countries due to its high durability will drive the growth
of the European region. The Asia Pacific is expected to dominate the market
during the forecast period as Asia is the largest market for raw materials. The
rising utilization of composites among the developing countries due to rising
construction activities will propel the growth of the market in the region.
The report
on the global fiberglass composites market covers segments such as type and
application. On the basis of type, the sub-markets include roving fiberglass,
chopped fiberglass, yarn fiberglass, and others. On the basis of application,
the sub-markets include construction, automotive, and others.
The report
provides profiles of the companies in the market such as Asahi Kasei Corp.,
Braj Binani Group, China Beihai Fiberglass Co. Ltd., Chongqing Polycomp
International Corp., Compagnie de Saint-Gobain SA, Nippon Electric Glass Co.
Ltd., Owens Corning, Sinoma Science & Technology Co. Ltd., Solvay Group,
and Veplas Group.
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 the global fiberglass composites market.
Moreover, the study highlights current market trends and provides forecasts for
2022-2028. 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.
Please Choose One of them.