APAC to Spearhead Fiberglass Market

Description :

Global Fiberglass Market: Information by Type (E-Glass, A-Glass, C-Glass, S-Glass, T-Glass, AR-Glass, D-Glass and Others), Form (Tape, Cloth, Rope and Others), Resin (Polyester, Vinyl Esters, Epoxy, Polyurethanes, PEEK and Others), Application (Composites and Insulation) and Region (North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa)—Forecast till 2027

Keywords :

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Fiberglass Market Analysis

The global fiberglass market is predicted to touch USD 20.32 billion at a 9.2% CAGR over the forecast period (2016-2023), in accordance with the latest Market Research Future (MRFR) report. Fiberglass is also popularly known as Glasfaserverstärkter Kunststof (GFK), glass-fiber reinforced plastic (GFRP), glass-reinforced plastic (GRP), or spun glass. It is basically a reinforced plastic material which contains glass fibers. This material is less brittle, strong, and lightweight. A key reason that led to the immense popularity of fiberglass is its ability in getting molded into different complex shapes. Here lies the reason why fiberglass is extensively used in roofing, aircraft, boats, bathtubs, and other applications.

Various factors are propelling the fiberglass market growth. These factors, in accordance with the MRFR report, include the wide applications of fiberglass in different end use industries including pharmaceutical, electrical, automotive, construction, and aerospace, growing number of wind turbine installations, growing awareness about renewable energy, and growing demand for lightweight automobiles and aircraft. Fiberglass has a corrosion-resistance property that helps it in withstanding adverse conditions and high temperatures owing to which manufacturers are choosing fiberglass as a key manufacturing component.

On the flip side, fluctuating cost of raw materials, the demand-supply gap in raw materials, and the growing number of health and environment concerns are factors that may deter the fiberglass market growth over the forecast period.

Fiberglass Market Segmentation

The MRFR report provides a complete segmental analysis of the fiberglass market report on the basis of application, printing process, resin, and type.

Based on type, the fiberglass market is segmented into D-glass, AR-glass, T-glass, S-glass, A-glass, E-glass, and others. Of these, the S-glass and E-glass will dominate the market over the forecast period.

Based on form, the fiberglass market is segmented into rope, cloth, tape, and others.

Based on resin, the fiberglass market is segmented into peek, polyurethanes, epoxy, vinyl esters, polyesters, and others.

Based on application, the fiberglass market is segmented into insulation and composites.

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Report : https://www.marketresearchfuture.com/reports/fiberglass-market-3196

Fiberglass Market Regional Analysis

By region, the fiberglass market report covers the latest trends and growth opportunities across the Asia Pacific (APAC), North America, Europe, Latin America, and the Middle East and Africa (MEA). Of these, the APAC region will spearhead the market over the forecast period. This is owing to the huge demand for fiberglass from different end use industries, including the electrical industry, construction industry, and automotive industry. The rapidly developing countries in the region such as Japan, India, and China are witnessing enormous market demand. Besides, the growing demand for fiberglass from the construction sector in Thailand, Indonesia, and India are also propelling the market growth in this region.

The fiberglass market in North America will have the second-largest share in the market over the forecast period. This is owing to the increasing consumption of fiberglass. Moreover, the well-developed economy, high consumption potential, increasing production capacities, and burgeoning demand for fiberglass-based construction materials are also boosting the market growth.

The fiberglass market in Europe is predicted to have profitable growth over the forecast period. This is owing to the large consumption of fiberglass in the electrical, construction, and pharmaceutical industry. Moreover, the growing demand for fiberglass in the aerospace and automotive sectors are also pushing market growth.

Key Players

Leading players profiled in the fiberglass market report include W. L. Gore & Associates, Inc (US), Fiber Glass Industries Inc (US), Taishan Fiberglass Inc (China), PFG Fiber Glass Corporation (Taiwan), Taiwan Glass Industry Corporation (Taiwan), Owens Corning (US), PPG Industries Inc. (US), Saint-Gobain Vetrotex (Europe), Jushi Group Co. Ltd (China), and AGY Holding Corp. (US). Key players have incorporated several strategies to strengthen their position in the market such as collaborations, partnerships, expansions, product innovations, and product launches, research and development, mergers and acquisitions, and more.

August 2019: Thursday Pools, an Indiana fiberglass pool manufacturer and a leader in design and innovation in the fiberglass pool industry recently received the US Utility Patent for its beach entry fiberglass pool designs.

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