Global Fiberglass Market Size, Growth, Opportunities Analysis, and Forecast to 2027
Posted by Karthik Pilla on August 24th, 2022
Bharat Book Bureau Provides the Trending Market Research Report on “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” under the Chemical & Materials Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
The global Fiberglass Market 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 composites are 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.
S-glass has similar properties as E-glass but is stronger and stiffer than E-glass. High strength S-glass is made with magnesium aluminosilicate. S-glass fiber offers high-performance at elevated temperatures; it is used in applications which demand high strength and stability under extreme temperatures and corrosive environments.
S-glass is also available in the global market and is the highest-performing fibers available at present. It is produced with a higher content of silica than standard glass fiber products. This glass type is widely used for the textile and composite industries. It has high compressive strength, high-temperature resistance, and improved impact resistance.
“Chopped Strand is the fastest-growing product type of fiberglass, in terms of value.”
Chopped strands are fiberglass strands that are used to provide reinforcement to thermoplastic and thermoset composites. These strands can be mixed with resins to produce reinforcing gap filler for construction activities. Chopped strands used with polyester resins produce strong, stiff, and durable laminates, which are primarily utilized to manufacture water tanks, boats, and industrial equipment. Chopped strand mats made from glass fiber filaments can be oriented either randomly or evenly. They are suitable for hand lay-up process using thermoset resins for manufacturing a wide range of products for automobile, recreation, and chemical industries.
“Composites is the fastest-growing application of fiberglass, in terms of value.”
Based on application, the fiberglass market is segmented into composites and insulation. In terms of value, the composites segment accounted for significant share of the fiberglass market in 2021. The larger share of the composites application segment can be attributed to the high growth of the construction and automotive industries in Asia Pacific and North America.
“APAC is the fastest-growing fiberglass market.”
APAC is expected to be the largest market for fiberglass during forecasted years. The high market share for the region is attributed to various favorable government policies in order to protect volatile fuel prices in the region along with rules and regulations against GHGs emissions. These policies and regulations are fueling the growth of wind energy installations in the region specifically in China, India, and South Korea. The growth of end-use industries are automatically having a impact on the demand of fiberglass across the region. Europe followed by North America also contribute to significant share in the global fiberglass market.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into the following three categories:
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About the AuthorKarthik Pilla
Joined: March 29th, 2019
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