DUBLIN, Ireland, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a Material & Chemical business research firm has published a report on the “Fiberglass Market”. As per the report, the Asian Pacific Fiberglass Market dominated the global market in 2021. The total market opportunity for Fiberglass was USD 25.65 Bn in 2021 and is expected to grow at 7.2 percent CAGR through the forecast period to reach USD 44.73 Bn by 2029.
Fiberglass Market Report Scope and Research Methodology
For the fiberglass market report, 2021 is considered as a base year to estimate the market size and provides the forecast from 2022-2029. The main aim of the report is to provide a deep insight into the global fiberglass market covering all the major aspects. It provides a macro and micro overview of the market size, trends, competitive landscape, key growth drivers, major challenges, restraints and prevailing opportunities. For the report, the market was divided into three major segments: glass type, product and application, which were further divided into many sub-segments. The segment-wise analysis provided in the report helps to understand the fiberglass market easily. For competitive analysis, the report includes a detailed analysis of key market players including market leaders, followers and new entrants, with their company profiles, financial status, mergers and acquisitions, partnerships, revenue, cost, market share, investments and pricing.
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The bottom-up approach was used to estimate the fiberglass market size. The report is a combination of primary and secondary data, which was collected through extensive research of the market. This combination of data makes the report authentic and error-free. The report also offers a SWOT analysis, Porter’s five forces analysis, PESTLE analysis and value chain analysis. These methodologies used provide the analysis of the factors affecting the market positively and negatively with strengths and weaknesses of the market, key companies and manufacturers.
Fiberglass Market Overview
Fiberglass is a type of glass fiber-reinforced plastic associated with the advantages such as low cost of production, good mechanical properties, higher strength-to-weight ratio, lightweight, ease of fabrication and corrosion resistance. Fiberglass has numerous applications in the industries such as aerospace, automotive, marine, sports and construction.
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Fiberglass Market Dynamics
The Fiberglass Market is majorly driven by the increasing demand for power generation from wind energy. During the forecast period, the demand for fiberglass textiles is expected to be driven by its use in lightweight rotor blade production. The Fiberglass Market growth is expected to be driven by increasing investments by key manufacturers in wind technology development. The revenue growth of the market is also accelerated by the increasing demand for fiberglass devices because of the increasing use of fiberglass in the construction industry. The increasing use of composites in the automotive industry is also a major factor boosting the market growth.
Fiberglass loses its insulation properties when it gets wet, which is the major challenge expected to hamper market growth during the forecast period. The high cost of fiberglass is also limiting the market growth.
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Fiberglass Market Regional Insights
The Fiberglass Market in the Asia Pacific region dominated the global market in 2021, by holding the largest market share and it is also expected to retain its dominance with a high CAGR during the forecast period. China, India, Japan, Australia and South Korea are the major nations contributing to the regional market growth. The market in the region is majorly growing due to the increasing demand for lightweight, durable and tensile strength in the construction, automotive, wind energy, aerospace and defense and electrical and electronics industries.
The Europe region is the major market for fiberglass in terms of both consumption and production. The major portion of the fiberglass market in the region is held by the UK. The market growth in the region is majorly influenced by its progressive exporting of fiberglass fabric to other global economies.
| Market Size in 2021 | USD 25.65 Bn. |
| Market Size in 2029 | USD 44.73 Bn. |
| CAGR | 7.2% (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 281 |
| No. of Tables | 112 |
| No. of Charts and Figures | 101 |
| Segment Covered | Glass Type, Product and Application |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Fiberglass Market Segmentation
By Glass Type
- E-Glass
- ECR-Glass
- H-Glass
- AR-glass
- S-Glass
- Others
By Product
- Glass Wool
- Roving
- Chopped Strand
- Yarn
- Others
By Application
- Transportation
- Building & Construction
- Electrical & Electronics
- Pipe & Tank
- Consumer Goods
- Wind Energy
- Others
Fiberglass Market Key Competitors include:
- China Jushi Co., Ltd. (China)
- Xingtai Jinniu Fiberglass (China)
- Glasstex Fiberglass (China)
- Chongqing polycomp International Corporation (China)
- Jushi Group Co., Ltd (China)
- Taishan Fiberglass (China)
- Hexcel Corporation (U.S.)
- Fibre Glast Developments Corp. (U.S.)
- PPG Industries (US)
- Owens Corning (US)
- Phelps Industrial Products LLC. (US)
- Agy Holdings Corp. (US)
- CertainTeed Corporation (US)
- Auburn Manufacturing, Inc. (U.S.)
- BGF Industries, Inc. (U.S.)
- Dupont (U.S.)
- Johns Manville Corp. (US)
- Nitto Boseki Co., Ltd. (Japan)
- Nippon Electric Glass (Japan)
- Asahi Fiberglass Co (Japan)
- PFG Fiber Glass (Taiwan)
- Taiwan Glass Ind. (Taiwan)
- 3B-The Fiberglass Company (Belgium)
- Knauf Insulation (Belgium)
- Gurit (Switzerland)
- Chomarat (France)
- Saint-Gobain (France)
- Saertex GmbH & Co.KG. (Germany)
Key questions answered in the Fiberglass Market are:
- What is Fiberglass?
- What is the expected Fiberglass Market size in coming years?
- What are the global trends in the Fiberglass Market?
- What are the upcoming industry applications and trends for the Fiberglass Market?
- What are the factors contributing to the final price of Fiberglass?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Fiberglass Market?
- What growth strategies are the players considering to increase their presence in fiberglass?
- What are the major challenges that the Fiberglass Market could face in the future?
- Who held the largest market share in Fiberglass Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Glass Type, Product, Application and Region
- Competitive Landscape – Profiles of selected key players by region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Material & Chemical research firm, has also published the following reports:
PTFE Fiberglass Market - The market size is expected to reach USD 1136 million by 2027 at a CAGR of 5.7 percent during the forecast period. The market is expected to be driven by the increasing demand in the construction and packaging industry due to the self-cleaning property of the PTFE fiberglass.
Fiberglass Doors Market - The market size is expected to reach USD 25.65 billion by 2029 at a CAGR of 9.4 percent during the forecast period. The market is expected to be driven by increasing residential and non-residential construction with rapidly growing urbanization and industrialization.
Recycled Glass Market - The market size is expected to reach USD 5894.2 million by 2029 at a CAGR of 6.31 percent during the forecast period. The market is expected to be driven by the increasing demand for recycled in industries like food processing, automobile and others.
Co-Polymer Sealant Market - The market size is expected to reach USD 790.9 million by 2029 at a CAGR of 7.5 percent during the forecast period. The market is expected to be driven by the consistent demand for packaging products from the food and beverage industry and the increasing demand for hybrid resins in manufacturing adhesives and sealants.
Prepreg Market - The market size is expected to reach USD 24.65 billion by 2029 at a CAGR of 10.3 percent during the forecast period. The market is expected to be driven by the increasing demand for prepreg in construction and marine industries and in the wind energy sector.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
