Fiberglass Global Market Report 2023: Sector to Reach $44.3 Billion by 2028 at a 7.3% CAGR

DUBLIN, May 4, 2023 /PRNewswire/ -- The "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 Forecasts to 2028" report has been added to ResearchAndMarkets.com's offering.

The fiberglass market is projected to grow from USD 27.7 billion in 2022 to USD 44.3 billion by 2028, at a CAGR of 7.3% during the forecast period.

S-glass is a high-performance type of fiberglass that is known for its exceptional strength and stiffness. It is made by drawing glass fibers from a molten glass pool using a process called fiberization. S-glass is composed of a high percentage of silica and magnesium oxide, giving it superior properties to other fiberglass types.

S-glass is a high-performance material that is used in applications where strength and stiffness are critical. As industries such as aerospace, defense, and automotive continue to demand high-performance materials, the demand for S-glass is expected to increase. S-glass is a lightweight material that can be used to produce composite materials that are strong and durable. As industries such as aerospace and automotive increasingly focus on lightweighting to improve fuel efficiency and reduce emissions, the use of S-glass is expected to increase

In terms of value, construction & infrastructure end-use industry accounted for the largest share of the overall composite application

Fiberglass is used as a reinforcement material in concrete to improve its strength and durability. Fiberglass reinforcement is often preferred over steel reinforcement due to its lightweight and corrosion-resistant properties. Also, fiberglass insulation is commonly used in construction to provide thermal insulation and improve energy efficiency. It is a cost-effective solution that can be easily installed on walls, floors, and ceilings.

Fiberglass is also used to construct pipes and tanks for various applications, such as water and wastewater treatment plants, chemical processing plants, and oil and gas facilities. Fiberglass pipes and tanks are lightweight, corrosion-resistant, and have a long service life. Fiberglass offers many advantages in the construction and infrastructure industry, including lightweight, durability, and corrosion resistance. As these industries continue to grow and face new challenges, the use of fiberglass is expected to increase.

In terms of value, the chopped strand product segment expected to register the highest CAGR during the forecast period

Based on product type, the chopped strand segment is expected to register the highest CAGR during the forecast period for the fiberglass market. Chopped strand fiberglass is a type of fiberglass reinforcement consisting of glass fibers cut into short lengths and then mixed with a resin to form a composite material. The demand for chopped strand fiberglass is primarily driven by its use as a reinforcement material in various end-use industries, such as automotive, aerospace, construction, and marine. As these industries continue to grow, the demand for chopped-strand fiberglass is also expected to increase. The growth of chopped strand fiberglass is closely tied to end-use industries' growth, manufacturing process advancements, and regulatory requirements.

During the forecast period, the fiberglass market in North American region is projected to register the third-highest market share

The fiberglass market has been studied in North America, Europe, Asia Pacific, the Middle East, Africa, and South America. Asia Pacific accounted for the largest market share in 2022, whereas Europe accounted for the second-largest market share in 2022, followed by North America. The North American market will experience considerable growth in the next years because there has been an increasing demand for energy worldwide and North American region, which has driven the need for more efficient and durable fiberglass materials. Fiberglass can help achieve these goals by reducing weight, improving corrosion resistance, and enhancing performance. In terms of developments, the fiberglass industry is constantly evolving to meet changing market demands and regulatory requirements. For example, there is a growing demand for fiberglass products in North America that are more environmentally sustainable and can help reduce carbon emissions. This has led to the development of new fiberglass manufacturing processes and products, such as using recycled materials or producing lighter-weight materials that can improve fuel efficiency in vehicles.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Fiberglass Market, by Glass Type6.1 E Glass6.2 Ecr Glass6.3 H Glass6.5 Ar Glass6.6 S Glass6.4 Others (A Glass, C Glass, T Glass, Etc.)

7 Fiberglass Market, by Product Type7.1 Glass Wool7.2 Direct & Assembled Roving7.3 Yarn7.4 Chopped Strand7.5 Others (Milled Fibers and Multiaxial Fabrics)

8 Fiberglass Market, by Application8.1 Composites8.1.1 Fiberglass Market Size in Composites, by End-Use Industry8.1.1.1 Construction & Infrastructure8.1.1.2 Automotive8.1.1.3 Wind Energy8.1.1.4 Electronics8.1.1.5 Aerospace8.1.1.6 Others (Marine, Oil & Gas, Water & Wastewater, Consumer Goods, Healthcare, and Agriculture Sectors)8.2 Insulation8.2.1 Fiberglass Market Size in Insulation, by End-Use Industry8.2.1.1 Residential Construction8.2.1.2 Non-Residential Construction8.2.1.3 Industrial8.2.1.4 Others (Heating, Ventilation, and Air Conditioning (HVAC) Systems, and Oem Insulations)

9 Fiberglass Market, by Region

10 Competitive Landscape

11 Company Profiles

12 Appendix

Companies Mentioned

3B-The Fiberglass Company

Agy

Asahi Fiberglass Co. Ltd.

Chongqing Polycomp International Corp. (Cpic)

Johns Manville (A Berkshire Hathaway Company)

Knauf Insulation

Nippon Electric Glass Co. Ltd.

Ownes Corning

Pfg Fiber Glass Corporation (Kunshan)

Saint-Gobain

Taishan Fiberglass Inc. (Ctg Group)

Taiwan Glass Ind., Corp.

For more information about this report visit https://www.researchandmarkets.com/r/srlb9t

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