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Fiberglass Market worth $38.8 billion by 2027

 



(IT-NEWSWIRE.COM, November 22, 2022 ) The report "Fiberglass Market by Glass Type (E-Glass, ECR-Glass, H-Glass, AR-Glass, S-Glass), Product Type (Glass Wool, Direct and Assembled Roving, Yarn, Chopped Strand), Application (Composites, Insulation) and Region - Global Forecast 2027", size is expected to grow from USD 27.5 billion in 2022 to USD 38.8 billion by 2027, at a CAGR of 7.1% during the forecast period. Fiberglass is being used in the construction & infrastructure, aerospace, wind energy, automotive, electronics, and other end-use industries. The increasing wind energy projects and demand of lightweight material from automotive industry support the demand for fiberglass in the wind energy and automotive end-use industry.

Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=6124844

E-glass type comprises a major share of the fiberglass market in terms of value.

E-glass, also known as an electrical grade glass, has electrical insulation property. E-glass was initially developed for electrical wiring applications. However, technological advancements in the field of E-glass have widened its applicability across various sectors, such as wind energy, marine, and electrical & electronics. E-glass is cost-efficient, corrosion-resistant, and lightweight. Owing to its wide-ranging applications, it is considered to be the most widely used glass fiber around the world during the forecast period.

Glass wool product type accounts for the largest market share in the global fiberglass market during the forecasted period in terms of value and volume

The glass wool segment dominated the market and is projected to grow significantly during forecasted years. The growth of the segment can be attributed to the increasing building construction activities in China, India, and the US, and growing awareness about the benefits of insulation products. Additionally, the governments of several countries have made the use of insulation material mandatory in residential and non-residential construction activities. Direct & assembled roving is the second-largest segment of the fiberglass market, due to the rising demand for fiberglass composites in construction and wind energy applications.

Composite segment accounted for the largest market share in the global fiberglass market based on the application in terms of value and volume.

Fiberglass composites are versatile, lightweight, and cost-effective materials. Among all fibers, glass fibers are used in the composites industry as the most common reinforcement material for several applications.

GFRP is a composite material made of polymer reinforced by glass fiber. It consists of glass fiber along with thermosetting or thermoplastic resins. Now a days, glass fiber gets widely preferred in the wide applications from various end-use industries including construction & infrastructure, automotive, wind energy and many more. The properties like high strength, excellent corrosion resistance, and low cost makes them an efficient option to get used across the multiple industries across the world. The rising demand for the GFRP composites in automotive, aerospace, and wind energy industries is driving the growth of the fiberglass market

Don't miss out on business opportunities in Fiberglass Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=6124844

Browse In-Depth TOC On "Fiberglass Market”
358 - Market Data Tables
48 - Figures
314 - Pages

APAC is expected to account for the largest market share in the fiberglass market during the forecast period.

APAC is the largest fiberglass market in terms of volume and is expected to maintain its lead during the forecast period. The remarkable growth in various end-use industries such as construction & infrastructure, wind energy, automotive, and electrical & electronics are driving the demand for fiberglass products from the region. Europe is the second major consumer of fiberglass aerospace, and wind energy are the major industries fueling the growth of the fiberglass market in this region.

The key players in the fiberglass market include The leading fiberglass manufacturers include China Jushi Co., Ltd. (China), Owens Corning (US), Nippon Electric Glass Co., Ltd. (Japan), Taishan Fiberglass Inc. (CTG) (China), Chongqing Polycomp International Corp. (CPIC), (China), and Johns Manville Corp. (US). These players are adopting the strategies of new product launches, expansions, and agreements to maintain their competitive position in the fiberglass market.

Get Sample Pages of This Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=6124844

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com



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