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

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

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, chopped strand product segment expected to register 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 America 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.

This study has been validated through primary interviews with industry experts globally. These primary sources have been divided into the following three categories:

By Company Type- Tier 1- 60%, Tier 2- 20%, and Tier 3- 20%

By Designation- C Level- 33%, Director Level- 33%, and Others- 34%

By Region- North America- 20%, Europe- 25%, Asia Pacific (APAC) - 25%, South America-10%, Middle East & Africa (MEA)-20%

The report provides a comprehensive analysis of company profiles:

Prominent companies include China Jushi Co., Ltd. (China), Owens Corning (US), Saint-Gobain (France), Taishan Fiberglass Inc. (CTG Group) (China), Chongqing Polycomp International Corp. (CPIC) (China), Nippon Electric Glass Co., Ltd. (Japan), 3B-the fiberglass company (Belgium), among others.

Research Coverage

This research report categorizes the fiberglass market by glass type (E Glass, ECR Glass, H Glass, AR Glass, S Glass), product type (glass wool, direct & assembled roving, yarn, chopped strand), application (composites, insulation) & region (North America, Europe, Asia Pacific, the Middle East & Africa, and South America). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the fiberglass market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the fiberglass market. Competitive analysis of upcoming startups in the fiberglass market ecosystem is covered in this report.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall fiberglass market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Growing demand from the construction industry, Increasing demand from the wind energy sector, Rising demand for lightweight materials), restraints (Volatility in raw material prices, Competition from alternative materials), opportunities (Growing demand from emerging economies), and challenges (Limited recycling options, Stringent regulations) influencing the growth of the fiberglass market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the fiberglass market

Market Development: Comprehensive information about lucrative markets – the report analyses the fiberglass market across varied regions

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the fiberglass industry market

Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like China Jushi Co., Ltd. (China), Owens Corning (US), Saint-Gobain (France), Taishan Fiberglass Inc. (CTG Group) (China), Chongqing Polycomp International Corp. (CPIC) (China), Nippon Electric Glass Co., Ltd. (Japan), 3B-the fiberglass company (Belgium), among others in the fiberglass market