Global Fiberglass Market stood at USD 14.2 billion in 2017 and is likely to generate a demand of USD 21.2 billion by 2024, at a robust CAGR of 5.7% over the next seven years.
Extensive use of fiberglass in the construction as well as the automotive industries, owing to its enhanced performance has been a major driving factor for the market. The years used for the assessment are as follows;
Historical year : 2014, 2015 and 2016
Base year : 2017
Forecast period : 2018 – 2024
The research and analysis is based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;
Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, surveys and other secondary sources
Interacting with key opinion leaders of the market and developing data points based on interaction with them
Study of past trends in the market and their year on year impact on the market size and share
Analyzing the collected data points
Bridging the data points to calculate the fiberglass market and its various segments
Anticipating potential risks
Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global fiberglass market
Finalizing the overall size and share for the global fiberglass market.
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To classify global fiberglass market into segments on the basis of glass type, type, application, and end use, to analyze their growth prospects individually
To analyze market trends, opportunities, drivers and restraints associated with fiberglass
Profiling key companies operating in the global fiberglass market
To study market response with respect to the mergers and acquisitions in the industry
The research scope for fiberglass market is as follows:
By Glass Type
By End Use
Rest of the world (RoW)
The global fiberglass market is expected to expand to USD 21.2 billion by 2024, at a CAGR of 5.7% from 2018 to 2024. There have been growing concerns regarding climate change and carbon emissions across the world. This has led to the promotion of renewable power as an environment friendly alternative to conventional sources of energy. Therefore, the rising demand for renewable sources of power such as wind and solar has in turn boosted the demand for fibreglass over the years.
Fiberglass, being a form of fiber-reinforced plastic is lightweight, strong as well as less brittle and therefore offers significant advantages against other materials, such as steel. Fiberglass has an inherent ability to be moulded into several complex shapes owing to which it is highly used in bathtubs, boats, aircraft, and roofing applications.
Additionally, fiberglass offers high mechanical strength, dimensional stability, incombustibility, and insulation, making it highly preferable for construction use. Moreover, there has been a considerable rise in the automotive sector across the globe and thereby demand for fiberglass has surged over time. Also, the raw materials required for it are less expensive, thus making it an economical alternative for industry users.
In addition, as compared to carbon fiber, glass has the ability to undergo more elongation before it can break. The thinnest fibers prove to be the strongest as they tend to be more ductile. Numerous techniques are in place in order to manufacture fiberglass such as hand lay-up, resin infusion molding, injection molding, compression molding, spray-up process and filament winding.
Moreover, several stringent regulations have led to market growth over the years to come. However, huge capital investments as well as availability of substitutes, such as aluminium and carbon fiber may hinder market growth from 2018 to 2024. In addition, high end research is underway so as to provide much improved variety of fiberglass while incurring minimum cost.
Additionally, market participants are investing profoundly in innovation and technological advancements for fiberglass in order to overcome market hindrances. The industry is projected to witness intense competition, with key market players focusing on the development of fiberglass cutting robots. Also, high initial set up cost along with the presence of many established players may restrain the entry of new players in the market.
Some of the key companies operating in the industry include Owens Corning, Taishan Fiberglass Inc., Chongqing Polycomp International Corp. (CPIC), Nippon Electric Glass Co., Ltd., 3B-the fibreglass company, Johns Manville Corp., Taiwan Glass Industry Corp., Asahi Fiberglass Co. Ltd., Saint-Gobain Vetrotex, Knauf Insulation, among others.
With the given market information, Ameco research offers customization's in line with the company's specific wishes. The following customization choices unit of measurement accessible for the report:
Regional and country-level analysis of the Global Fiberglass Market, by end-use.
Detailed analysis and profiles of additional market players.
Few Important Points From Table of Contents
Global Fiberglass Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024
CHAPTER 1. Market Scope and Methodology
CHAPTER 2. Executive Summary
CHAPTER 3. Industry Analysis
CHAPTER 4. Competitive Outlook
CHAPTER 5. Global Fiberglass Market Size and Forecast (2014 – 2024)
CHAPTER 6. Global Fiberglass Market Size and Forecast, By Region (2014 – 2024)
CHAPTER 7. Key Players and Strategic Developments
CHAPTER 8. RESEARCH APPROACH
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