Fiberglass Market research report by Delvens focuses on primary sections such as – market segments, market outlook, competitive landscape, and company profiles. The segments provide details in terms of various perspectives such as end-use industry, product or service type, and any other relevant segmentation as per the market’s current scenario which includes various aspects to perform further marketing activity.
The global Fiberglass Market size is projected to reach a CAGR of 6.50% from 2023-2030.
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Fiberglass is a material made from small threads of plastic glass. It is a form of fiber-reinforced plastic where glass fiber is in the reinforced plastic. It is also known as glass-reinforced plastic or glass fiber-reinforced plastic. The glass is usually flattened into a sheet randomly arranged or woven into a fabric. It is lightweight, strong, and less brittle. It is also flexible enough to be able to get molded into various shapes. It is one of the widely preferred materials used in industrial gaskets as it provides better insulation and protects the machinery as well. It is also used in the brewery industry for bottling lines and brewhouses.
The rise in the use of fiberglass composites in the automotive industry is a major driving factor for this market. It has a higher strength-to-weight ratio which plays an essential role in automobile manufacturing. Strict regulations force the automotive industry to minimize carbon emissions. This has motivated the industry to introduce fuel-efficient lightweight vehicles to help reduce greenhouse gas emissions.
Delvens Industry Expert's Standpoint
The growing need for lightweight and high-strength materials across a range of end-use sectors is anticipated to fuel the growth of the fiberglass market in the upcoming years. Because these sectors demand strong, lightweight materials with high thermal and electrical qualities, the automotive, aerospace, and construction industries are anticipated to contribute significantly to the growth of the fiberglass market. The desire for electric automobiles and more energy-efficient structures is also anticipated to fuel the expansion of the fiberglass industry. The market may encounter difficulties, nevertheless, as a result of the availability of substitute products and the shifting cost of raw resources. Overall, the fiberglass market is expected to develop over the next several years, and businesses in the sector must prioritize innovation and cost reduction to remain competitive.
Competitive Landscape
· AGY Holding Corp
· Saint-Gobain ADFORS
· CertainTeed Corporation
· Saint-Gobain Verotex
· Knauf Insulation
· Asahi Fiberglass Co Ltd
· PFG Fiber Glass Co Ltd
· Taiwan Glass Ind Corp
· Binani 3B-the Fiberglass Company
· Johns Manville Corp
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Key Findings
· Fiberglass is a material made from small threads of plastic glass. It is a form of fiber-reinforced plastic where glass fiber is in the reinforced plastic. It is also known as glass-reinforced plastic or glass fiber-reinforced plastic.
· The glass segment is further fragmented into -Glass, AR Glass, S-Glass, ECR Glass, E-Glass, and Others. E-Glass contains aluminum boron silicate glass fibers containing alkali oxide components such as aluminum oxide. It is the most widely used glass fiber formula in the world.
· The rise in the use of fiberglass composites in the automotive industry is a major driving factor for this market. It has a higher strength-to-weight ratio which plays an essential role in automobile manufacturing.
Regional Analysis
Asia Pacific to Dominate the Market
Asia Pacific is the largest and fastest-growing market for fiberglass globally. The increasing focus on emission control policies and the growing demand for eco-friendly products has led to technological advancements in the field of composites. The replacement of traditional materials, such as steel and aluminum, with fiberglass is contributing to the growth of the fiberglass market in the Asia Pacific.
Additionally, the rising demand for fiberglass from various industries, such as construction, transportation, automotive, and electronics, is expected to drive the growth of the fiberglass market in the region.
Recent Developments:
· April 13, 2022, SGL Carbon presents carbon fiber material and forged carbon fiber composite solutions for automotive series production and industrial applications. At this year’s JEC World, SGL is expected to present the so-called stacks, precisely tailored and customer-specifically assembled packages of carbon fiber layers. Experts at SGL Carbon are working closely with their customers to make component production with the material carbon particularly efficient and to integrate it optimally into existing customer processes.
· In July 2021, Owens Corning acquired Vliepa GmbH to broaden its non-woven product catalog, aiming to serve the building and construction sector in the European region.
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