The fiberglass market is expected to reach $15.79 billion by 2027, according to a recent analysis by Emergen Research. This market growth is due to the increasing demand for insulated building roofs and walls. The low heat distribution gradient and non-conductive nature of fiberglass, making it suitable for use in the construction of insulated roofs and walls, have propelled the fiberglass market. The extensive use of fiberglass composites in various industries such as chemical and petrochemical, oil and gas, pulp and paper, offshore drilling, mining and minerals, waste and wastewater, metalworking and food processing contributes to the fiberglass market. A key factor driving the market is that fiberglass composites are highly customizable and offer several advantages over traditional materials.
Effects of Covid-19: The COVID-19 pandemic has severely affected the automotive, transportation, aerospace, construction and infrastructure industries. It has disrupted the supply chain for raw materials and affected the demand for fiberglass products in the end-use industry. Consumer buying behavior has changed as people face a financial crisis that has affected sales of motor vehicles across the world. The lockdown has restricted air services across international borders, which has reduced demand for new aircraft and thereby impacted sales of the fiberglass material.
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Key market players include TAISHAN FIBERGLASS INC. (CTG), Owens Corning, Nippon Electric Glass Co., LTD., Binani 3B-The Fiberglass Company, China Jushi Co., Ltd., Taiwan Glass Ind Corp., PFG Fiber Glass (Kunshan) Co., Ltd., Johns Manville Corp., Knauf Insulation and AGY Holding Corp.
Valuable market insights:
- The report highlights the latest trends observed in the consumption pattern of each regional segment.
- The comprehensive market segmentation included in the report helps to better understand the revenue and estimated growth of each region.
- The report highlights the historical and current market scenarios and provides a precise compound annual growth rate of the global Fiberglass market.
- The report further includes the current market trends, technological advancements, revenue growth, and other aspects influencing the market growth.
The global fiber optics market is highly consolidated due to the presence of a large number of companies in this industry. These companies are known for investing heavily in research and development projects. They also control a significant part of the overall market share, thus limiting the entry of new players into the sector. The global Optical Fibers market report studies the prudent tactics employed by the leading market players such as partnerships & collaborations, mergers & acquisitions, new product launches, and joint ventures.
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Key highlights of the report
- In August 2020, Owens Corning announced a new line of products called FOAMULAR® NGX isolation. The proprietary blowing agent in this new line of extruded polystyrene (XPS) foam provides a 90 percent reduction in global warming potential (GWP) without compromising product performance.
- The glass wool segment had the largest market share in 2019 with 33.5%. Increasing spending on ongoing construction projects in developed and developing countries has led to increased demand for glass wool.
- The Composites segment is expected to grow at the fastest CAGR of 5.0% during the forecast period. The non-conductive nature and lower heat distribution gradient of fiberglass help make it an excellent electrical insulator. It also saves energy and lowers electricity bills, which has increased the use of fiberglass composites in the construction and infrastructure industries.
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Emergen Research has segmented the global fiber optics market based on type, application, end use, and region:
- Type Outlook (Revenue, $Bn; 2017-2027)
- moving around
- glass wool
- Chopped strands
- Application Outlook (Revenue, $Bn; 2017-2027)
- End Use Outlook (Revenue, $Bn; 2017-2027)
- wind energy
- Building & Construction
- Regional Outlook (Revenue, $Bn; 2017-2027)
- North America
- United Kingdom
- rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
Global Fiber Optic Market Report – Table of Contents:
- Chapter 1 comprises the global Fiberglass market launch followed by market scope, product offerings, growth opportunities, market risks, driving forces and others.
- Chapter 2 roughly categorizes the Fiber Optic market on the basis of geography, determining the sales, revenue, and market shares of each region over the estimated time period.
- Chapter 3 explains the competitive outlook of the Fiberglass market, focusing on the key manufacturers and vendors.
- Chapter 4 exhaustively examines the major manufacturers of the Fiberglass industry, along with their expected sales and revenue share.
- Chapter 5 includes market segmentation based on product type, application area and market players.
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About Emerging Research
Emergen Research is a market research and consulting firm that offers syndicated research reports, custom research reports, and consulting services. Our solutions are solely focused on your purpose of locating, targeting and analyzing changes in consumer behavior across demographics and industries, and helping customers make smarter business decisions. We offer market intelligence studies that ensure relevant and fact-based research across multiple industries including Healthcare, Touch Points, Chemicals, Types and Energy.
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