Fiberglass Market to Witness Robust Growth by 2027
The global fiberglass market is likely to reach USD 15.79 Billion by 2027, according to a current analysis by Emergen Research. This growth of the market can be attributed to the rising demand for insulated building roofs and walls. The low heat distribution gradient and non-conductive nature of fiberglass, which make it suitable for utilization in the construction of insulated roofs and walls, has driven the fiberglass market. Extensive usage of fiberglass composites across various industries, such as chemical & petrochemical, oil & gas, pulp & paper, offshore drilling, mining & mineral, waste & wastewater, metal processing, and food processing industries, is contributing to the fiberglass market. A key factor driving the market is that fiberglass composites are highly customizable and they offer several advantages over traditional materials.
Covid-19 impact: The COVID-19 pandemic has severely affected the automotive & transportation industry, the aerospace industry, and the construction & infrastructure industry. It has disrupted the supply chain for raw material, affecting the demand for fiberglass products in end-use industries.
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The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.
Key market participants include TAISHAN FIBERGLASS INC. (CTG), Owens Corning, Nippon Electric Glass Co., LTD., Binani 3B-The Fibreglass Company, China Jushi Co., Ltd., Taiwan Glass Ind Corp., PFG Fiber Glass (Kunshan) Co., Ltd., Johns Manville Corp., Knauf Insulation, and AGY Holding Corp.
Objectives of the Report:
Industrial structure analysis of the Fiberglass market by identification of various sub-segments
Extensive analysis of key market players along with their SWOT analysis
Competitive landscape benchmarking
Analysis of Fiberglass market based on growth trends, futuristic outlook, and contribution to the total growth of the market
Analysis of drivers, constraints, opportunities, challenges, and risks in the global Fiberglass market
Comprehensive analysis of competitive developments such as expansions, agreements,
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The report studies the historical data of the Fiberglass Market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects.
Emergen Research has segmented the global fiberglass market on the basis of type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2017–2027)
Roving
Glass Wool
Chopped Strands
Yarn
Others
Application Outlook (Revenue, USD Billion; 2017–2027)
Composites
Insulation
End-use Outlook (Revenue, USD Billion; 2017–2027)
Wind Energy
Automobiles
Aerospace
Building & Construction
The complete regional analysis covers:
North America (U.S., Canada, Mexico
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Points of Fiberglass Market:
The glass wool segment held the largest market share of 33.5% in 2019. Increasing expenditure on ongoing construction projects in developed as well as developing economies has resulted in increased demand for glass wool.
The composites segment is projected to expand at the most rapid CAGR of 5.0% during the forecast period. The non-conductive nature and lower heat distribution gradient of fiberglass help in making it a great electric insulator. Also, it saves energy and lowers utility bills, which has increased utilization of fiberglass composites in the construction & infrastructure industry.
The automobiles segment accounted for the largest market share in 2019. Increasing automotive sales in the Asia Pacific region have driven use of fiberglass components in the manufacture of automobile parts.
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