Global Market of Fiberglass will be valued at USD 10.1 Billion till 2020

FRP is a type of fiber reinforced plastic, and in which the reinforcement fiber is specifically glass fiber. Glass fiber can be chopped into certain length and randomly arranged, compressed into a sheet, called fiberglass chopped strand mat. It also can be woven into a fabric like woven roving. The plastic matrix may be a thermosetting plastic, which is most often epoxy, polyester resin, vinylester, or a thermoplastic. Fiber glass is used in major applications, such as composites, insulations, storage tanks, house building, piping, and filament winding. 

This market is experiencing an enormous growth and is expected to continue a similar trend in the near future. It is mainly driven by highly-growing markets in regions, such as Europe and North America. Global market of fiber glass till 2020 will be valued at USD 10.1 Billion. This market is further segmented, in terms of geographic regions, into North America, Europe, Asia-Pacific, and Rest of the World. The market has also been segmented on the basis of application and type. The major applications for fiberglass are composites, insulation, and others.

At the same time, manufacturing and sales of fiberglass chopped strand mat are also growing very fast with the development of fiberglass global market.