All updated as on -
In 2022, the global fibreglass market was estimated to be worth $16.79 billion. Over the forecast period (2023-2030), the global fibreglass market is expected to expand from $20.44 billion in 2023 to $23.32 billion in 2030, representing a CAGR (compound annual growth rate) of 5.20 percent. Glass fibre is strengthened through a printing process using fibreglass, a fiber-reinforced plastic. Silica is the primary ingredient in fibreglass, along with trace amounts of other oxides of metals like calcium, magnesium, and boron. Glass fibre reinforced plastic is a versatile fibre. It has many desirable qualities, including high tensile strength, low weight, pliability, and dimensional stability. Use a polyester hardener and it will work.
Increasing efficiency, decreasing maintenance costs, and improving safety are only a few of the reasons for the rise in fibreglass demand. The building, transportation, wind energy, aerospace and defence, maritime, electrical, and electronics industries are just some of the key end-uses for fibreglass. Fibreglass is used to make panels, insulation, and roofing materials in the construction business, and it is utilised to make lightweight and long-lasting parts for cars, trains, and planes in the transportation sector. Wind turbine blades used in the wind energy industry are often made of fibreglass. Radomes, fairings, and wingtips are just few of the many aerospace and defence components that are commonly made from fibreglass. Boats, yachts, and other marine craft are all made using fibreglass in the maritime industry. Circuit boards, electrical insulating materials, and other components in the electrical and electronics industries are often made from fibreglass.
Car sales dropped because to the COVID-19 epidemic, which had a significant impact on the development of the market. As a corollary, this caused its cost to fluctuate. The suspension of manufacturing and the shortage of auto parts reduced demand for this material among manufacturers. On the supply side, car sales dropped and working capital was reduced. Sales of automobiles in India fell by 78.7 percent between April and June of 2020, as reported by the Society of Indian Automobile Manufacturers (SIAM). However, in June of 2020, nations took action to restore the economic value chain by helping businesses get back up and running. The European Automobile Manufacturers' Association (ACEA) reports that vehicle sales increased by 10% in 2021 compared to the previous year. As things returned to normal, manufacturers responded to rising demand by the automotive industry by developing novel business options. Demand for this product is expected to soar in the coming years as automakers increasingly adopt lightweight components that are also highly efficient, durable, and reliable.
Due to their superior strength-to-weight ratio, fibreglass products are widely used in numerous industries, including the automotive industry. High mileage and better fuel economy are made possible by the use of extremely strong and lightweight materials in the manufacturing process. As a result of CAFE (Corporate Average Fuel Economy) regulations, which are driving the adoption of glass fibre composites in the automotive industry, several countries are prioritising the production of fuel-efficient lightweight vehicles. As a result, the increasing need for automobiles that are both lightweight and fuel-efficient is driving demand for fibreglass.
Lightweight, sturdy, rigid, offering great protection from external elements, formable into any size or shape, and with an excellent cosmetic appearance, these materials are perfect for transportation applications. Since it is lightweight, strong, and durable, it finds widespread application in the automotive and wind energy sectors. The marine and automotive industries are two of the largest consumers of fibreglass because of the demand for lightweight, impact-resistant materials. Strict controls have been put on the vehicle sector in an effort to lower carbon dioxide emissions. As a result, the industry as a whole has embraced the introduction of lightweight, fuel-efficient automobiles. The automotive industry relies heavily on this composite as a lightweight alternative to aluminium and steel. Over the projected time frame, this is what will propel the market forward.
Energy and materials are used very quickly in the production of fibreglass. One kilogramme of carbon dioxide (CO2) is released into the atmosphere for every kilogramme of molten glass, along with other pollutants such as nitrogen oxides and dioxides (NOx), sulphur dioxide (SO2), chlorine, fluoride, volatile organic compounds (VOCs), and particulates. In contrast, 17 Gigajoules (GJ) of electricity are used to produce one tonne of molten glass. About 250,000 tonnes per year in Europe are comprised of this fibre after it has reached the end of its useful life. As a result, there will be less room in landfills and a large increase in the release of dangerous compounds. Glass Fibre Reinforced Polymer (GFRP) is commonly used because of its desirable properties. Due to the thermoset nature of the polymeric component, it cannot be remelted or remoulded directly. These materials are challenging to recycle due to the high percentage of inorganic fillers present alongside the glass and polymeric matrix. The environmental impact of GFRPs continues after they are discarded; they are often sent to landfills or incinerators. Therefore, the development of suitable recycling technologies for glass wool and other composite materials is becoming vital for the long-term growth of the business.
Report Coverage
Global Fiberglass research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Fiberglass report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Fiberglass competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Fiberglass market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Fiberglass market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Fiberglass market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
PPG Industries Inc, Jushi Group Co.Ltd, Owens Corning, Nippon Electric Glass Co.Ltd, Johns Manville Corp, Taiwan Glass Ind.Corp, Knauf Insulation, Saint-Gobain, PFG Fiber Glass (Kunshan) Co.Ltd, Asahi Fiberglass Co.Ltd
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Fiberglass market based on the below-mentioned segments:
Global Fiberglass Market, By Type
E-Glass
A-Glass
C-Glass
S-Glass
T-Glass
AR-Glass
D-Glass
Global Fiberglass market, By Application
Composites
Insulation
Global Fiberglass Market, By Printing process
Tape
Cloth
Rope
Global Fiberglass market, Regional Analysis
Increasing efficiency, decreasing maintenance costs, and improving safety are only a few of the reasons for the rise in fibreglass demand. The building, transportation, wind energy, aerospace and defence, maritime, electrical, and electronics industries are just some of the key end-uses for fibreglass. Fibreglass is used to make panels, insulation, and roofing materials in the construction business, and it is utilised to make lightweight and long-lasting parts for cars, trains, and planes in the transportation sector. Wind turbine blades used in the wind energy industry are often made of fibreglass. Radomes, fairings, and wingtips are just few of the many aerospace and defence components that are commonly made from fibreglass. Boats, yachts, and other marine craft are all made using fibreglass in the maritime industry. Circuit boards, electrical insulating materials, and other components in the electrical and electronics industries are often made from fibreglass.
Car sales dropped because to the COVID-19 epidemic, which had a significant impact on the development of the market. As a corollary, this caused its cost to fluctuate. The suspension of manufacturing and the shortage of auto parts reduced demand for this material among manufacturers. On the supply side, car sales dropped and working capital was reduced. Sales of automobiles in India fell by 78.7 percent between April and June of 2020, as reported by the Society of Indian Automobile Manufacturers (SIAM). However, in June of 2020, nations took action to restore the economic value chain by helping businesses get back up and running. The European Automobile Manufacturers' Association (ACEA) reports that vehicle sales increased by 10% in 2021 compared to the previous year. As things returned to normal, manufacturers responded to rising demand by the automotive industry by developing novel business options. Demand for this product is expected to soar in the coming years as automakers increasingly adopt lightweight components that are also highly efficient, durable, and reliable.
Due to their superior strength-to-weight ratio, fibreglass products are widely used in numerous industries, including the automotive industry. High mileage and better fuel economy are made possible by the use of extremely strong and lightweight materials in the manufacturing process. As a result of CAFE (Corporate Average Fuel Economy) regulations, which are driving the adoption of glass fibre composites in the automotive industry, several countries are prioritising the production of fuel-efficient lightweight vehicles. As a result, the increasing need for automobiles that are both lightweight and fuel-efficient is driving demand for fibreglass.
Lightweight, sturdy, rigid, offering great protection from external elements, formable into any size or shape, and with an excellent cosmetic appearance, these materials are perfect for transportation applications. Since it is lightweight, strong, and durable, it finds widespread application in the automotive and wind energy sectors. The marine and automotive industries are two of the largest consumers of fibreglass because of the demand for lightweight, impact-resistant materials. Strict controls have been put on the vehicle sector in an effort to lower carbon dioxide emissions. As a result, the industry as a whole has embraced the introduction of lightweight, fuel-efficient automobiles. The automotive industry relies heavily on this composite as a lightweight alternative to aluminium and steel. Over the projected time frame, this is what will propel the market forward.
Energy and materials are used very quickly in the production of fibreglass. One kilogramme of carbon dioxide (CO2) is released into the atmosphere for every kilogramme of molten glass, along with other pollutants such as nitrogen oxides and dioxides (NOx), sulphur dioxide (SO2), chlorine, fluoride, volatile organic compounds (VOCs), and particulates. In contrast, 17 Gigajoules (GJ) of electricity are used to produce one tonne of molten glass. About 250,000 tonnes per year in Europe are comprised of this fibre after it has reached the end of its useful life. As a result, there will be less room in landfills and a large increase in the release of dangerous compounds. Glass Fibre Reinforced Polymer (GFRP) is commonly used because of its desirable properties. Due to the thermoset nature of the polymeric component, it cannot be remelted or remoulded directly. These materials are challenging to recycle due to the high percentage of inorganic fillers present alongside the glass and polymeric matrix. The environmental impact of GFRPs continues after they are discarded; they are often sent to landfills or incinerators. Therefore, the development of suitable recycling technologies for glass wool and other composite materials is becoming vital for the long-term growth of the business.
Report Coverage
Global Fiberglass research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Fiberglass report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Fiberglass competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Fiberglass market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | PPG Industries Inc, Jushi Group Co.Ltd, Owens Corning, Nippon Electric Glass Co.Ltd, Johns Manville Corp, Taiwan Glass Ind.Corp, Knauf Insulation, Saint-Gobain, PFG Fiber Glass (Kunshan) Co.Ltd, Asahi Fiberglass Co.Ltd |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Fiberglass Market from 2021 to 2030.
- Market Forecast for Fiberglass Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Fiberglass competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Fiberglass
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Fiberglass market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Fiberglass market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
PPG Industries Inc, Jushi Group Co.Ltd, Owens Corning, Nippon Electric Glass Co.Ltd, Johns Manville Corp, Taiwan Glass Ind.Corp, Knauf Insulation, Saint-Gobain, PFG Fiber Glass (Kunshan) Co.Ltd, Asahi Fiberglass Co.Ltd
Primary Target Market
- Market Players of Fiberglass
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Fiberglass market based on the below-mentioned segments:
Global Fiberglass Market, By Type
E-Glass
A-Glass
C-Glass
S-Glass
T-Glass
AR-Glass
D-Glass
Global Fiberglass market, By Application
Composites
Insulation
Global Fiberglass Market, By Printing process
Tape
Cloth
Rope
Global Fiberglass market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive fiberglass market market research and competitor analysis for your business to help you develop more profound insights into the fiberglass market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the fiberglass market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.