Fiberglass Market By Type, Form, Manufacturing Process, Resin, Industry & Region – Global Forecast to 2027
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Fiberglass is a lightweight material, which can be transformed or molded into any shape. It enables high energy savings and is widely used as an alternative to aluminum and steel. Fiberglass finds applications in the automotive industry, majorly in the development of light vehicles.
Based on type, the global fiberglass market is analyzed across Advantex Glass Fiber, AR Glass Fiber, A- Glass Fiber, D- Glass Fiber, C- Glass Fiber, E- Glass Fiber, R- Glass Fiber, S2 Glass Fiber, ECR Glass Fiber, M- Glass Fiber, Z- Glass Fiber, M- Glass Fiber, wherein E- the glass fiber segment leads wherein E-glass fiber leads with the highest market share. E-glass fibers are considered highly compatible with organic dyes and possess high dimensional stability. However, the ECR glass fiber segment will exhibit the highest growth rate
On the basis of form, the chopped strand mat segment is expected to exhibit the highest CAGR due to its high range of end-use applications
On the basis of the manufacturing process, the global fiberglass market is bifurcated into continuous filament and staple filament, wherein the continuous filament segment leads with the largest share, and will exhibit a high CAGR due to the reasons like rising knowledge about the high thermal conductivity, low density and high strength of continuous filament.
On the basis of resin, polyester, vinyl esters, epoxy, polyurethanes, and other segments are analyzed, wherein the polyester segment holds the lion's share due to its naturally UV-resistant properties. Additionally, polyesters are easy to use and can tolerate temperature and catalyst changes. Additionally, they are also less expensive than epoxy systems, which is shaping the overall scope of polyester resin in the market. However, the epoxy segment will register the highest growth rate during the study period.
On the basis of industry segment, the construction industry is leading with the highest market share as it is one of the major end-users of fiberglass. In construction, fiberglass is adopted as an insulator to lower the transmission of heat, cold, and sound. However, aircraft and aerospace will exhibit the highest growth rate.
On the basis of region, the Asia-Pacific fiberglass market will hold dominance due to the rapidly growing construction industry and a growing number of emission control policies introduced by the government authorities.
Market Dynamics and Trends
Drivers
The global fiberglass market will record a jump in revenue due to the growing usage of fiberglass composite in the construction and automotive industry. The growth in the usage of fiberglass is attributable to the increasing regulation for emission control. Additionally, the fact that fiberglass possesses a high strength-to-weight ratio crucial for automobile and construction applications will spark unprecedented growth in the market.
The growing use of fiberglass in the automotive sector is due to the fact that fiberglass is a strong insulating material that provides high resistance to corrosion.
Restraints
The fluctuations in the price of raw materials used in the development of fiberglass may complicate the market growth. Additionally, improper disposal techniques for recycling glass wool will pose threat to market growth. Moreover, glass wool inhibits low recycling capabilities, which generates a high amount of waste and ultimately harms the environment, thereby restricting market growth.
Regional Analysis of the Fiberglass Market
North America Fiberglass Market-
In North America, the US leads with the largest revenue share in the market due to the factors like expansive use of fiberglass in building insulation. Further, the country is witnessing constant growth in the production and sales of automobiles, which will further benefit the US market for fiberglass. Canada will exhibit the highest growth rate in the North America fiberglass market.
Europe Fiberglass Market-
Russia is expected to project the highest CAGR in the Europe fiberglass market during the forecast period, while Germany held the major share due to the presence of leading players in the marketplace.
Asia Pacific Fiberglass Market-
In Asia-Pacific, the fiberglass market of China leads with the highest market share, while India is expected to exhibit the highest CAGR. It is owing to one of the largest automotive industries in China. On the basis of industry, the construction industry leads in the Asia-Pacific fiberglass market, while the electric devices segment will exhibit the highest growth rate as fiberglass is widely being implemented on printed circuit boards as they are corrosion resistant, and possess high thermal conductivity, dimensional stability, and dielectric properties.
The Middle East & Africa Fiberglass Market-
In the Middle East & Africa Fiberglass market, Saudi Arabia leads with the highest share and will exhibit the highest CAGR. On the basis of form, the tow segment leads with the highest share in the MEA fiberglass market, while the chopped strand mat segment will exhibit the highest CAGR due to the high-end use applications of chopped strands in automotive part, ship & boats, bathroom equipment, cooling towers, etc.
South America Fiberglass Market-
Argentina will exhibit the highest growth rate in the South America fiberglass market, while Brazil leads with the highest market share. On the basis of type, A- glass fiber leads with the highest share while ECR glass fiber will exhibit the highest growth rate due to the fact that they possess excellent chemical resistance and superior mechanical properties.
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Competitive Insight
Key players analyzed in the global fiberglass market include Nippon, Jhusi, Taishan Fabric Glass, Chongqing Polycomp, Owens Corning, Other Prominent Players.
Segmental Overview of Fiberglass Market
By Type
A- Glass Fiber
C- Glass Fiber
D- Glass Fiber
E- Glass Fiber
Advantex Glass Fiber
ECR Glass Fiber
AR Glass Fiber
R- Glass Fiber
S2 Glass Fiber
M- Glass Fiber
Z- Glass Fiber
By Form
Tow
Veil mats
Woven fabrics
Chopped strand mat
Tape
Rope
Cloth
Others
By Manufacturing Process
Continuous Filament
Staple Filament
Others
By Resin
Polyester
Vinyl esters
Epoxy
Polyurethanes
Others
By Region
North America
The U.S.
Canada
Mexico
Europe
The U.K.
Germany
France
Spain
Italy
Russia
Poland
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Argentina
Brazil
Rest of South America
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