Fiberglass Market (By Glass Type - S-Glass, C-Glass, E-Glass, ECR-Glass, Others; Fiber Type - Rovings, Mats, Strands, Fabrics; Technology - Layup, Resin Infusion Molding, Injection Molding, Compression Molding, Filament Winding, Pultrusion, Others; Application - Automotive & Transportation, Aerospace & Defense, Wind Energy, Construction, Marine, Sports & Leisure, Pipe & Tank, Others; Region - North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
- Chemicals & Materials
- 554 Pages
Global Fiberglass Market: Key Highlights
- The global demand for Fiberglass stood nearly US$ 7.86 Bn in 2018 and is projected to reach over US$ 11.92 Bn by 2027. High demand from fiberglass from automotive segment as it acts as a lightweight material and enhances the fuel efficiency is likely to boost fiberglass market during the forecast period.
- In terms of volume, global Fiberglass market is anticipated to reach more than 7,800 Kilo Tons by 2027. Carbon fiber is competent substitute to the fiberglass market is projected to impact the growth of fiberglass market in the coming years.
- Globally, automotive application dominated the consumption of fiberglass with more than 25% among other applications such as construction, wind energy, aerospace & defense, sports & leisure, marine, pipes & tanks, etc.
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Global Fiberglass Market: Key Trends
- Growth in renewable energy, especially wind energy, is the major driving factor for fiberglass as it is widely used wind turbine blades. Carbon fiber is a major threat as it is a very good substitute of fiberglass. Carbon fiber is lighter in weight compared to fiberglass, however, it is far more expensive.
- Fiberglass has ample applications in automotive industry mainly into components such as exhaust systems, fenders, floor panels, headliners, etc., in interior, external, power train segments
- In the construction industry, fiberglass is used in mesh fabrics that prevent cracks in interior walls, in floor covering, wall covering, in self-adhesive dry wall tapes, waterproofing frit, etc. There has been a significant rise in modern architecture in recent years, leading to the development of modern materials, which complement the art without compromising on the stability and strength of the structures formed.
- The International Building Code (IBC) has defined fiber-reinforced polymer (FRP) materials as a part of the prescriptive. Therefore, apart from interior and specific exterior applications, FRP can be utilized above the fourth floor as a construction and architectural material. This is estimated to drive the fiberglass market.
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Global Fiberglass Market: Segmental Insights
- E-glass provides electrical insulation, S-glass provides high strength, ECR stands for electrical and chemical resistance, C-glass provides resistance to corrosion, others include T-glass, R-glass, AR glass, etc. Among these, E-glass is extensively used with a share of more than 20% due to its property and relatively low price.
- The different forms of fiberglass are strands, rovings, yarn, mats, and fabric. Filament comes out of the bushing as the first product. These filaments are combined together to form either strands or yarn. These strands are pulled by the winders and wound into rovings which is used to make mats. The mats are also produced from strands. Fiberglass is produced from molten glass in different forms such as strands, rovings, yarn, mats, and fabric. Rovings occupied for the major share with more than 40% in 2018 in the global fiberglass market in terms of fiber type.
- Layup and resin infusion technology, together with a share of more than 40%, dominated the global fiberglass market in terms of technology in 2018. Applications of fiberglass include automotive & transportation, aerospace & defense, wind energy, construction, marine, sports & leisure, pipe & tank, and others. Automotive and construction sectors are the major applications accounting for more than 40% owing to the increasing demand for low-weight vehicles and insulation required in construction industry.
Global Fiberglass Market: Regional Insights
- North America accounted for major share with more than 30% in the global fiberglass market in 2018 and the share is expected to remain the same during the forecast period. In terms of glass type, E-glass and S-glass dominated the market, together with more than 50% in 2018. The roving segment held a prominent share. Automotive industry is the major sector using fiberglass in this market.
- Asia Pacific region is primarily driven by developments in the construction, automotive and wind energy industries due to which fiberglass is consumed more in this region. Here, wind energy is likely to offer lucrative opportunities in this market, led by the rise in installed wind mill capacities in China.
- Europe houses premium car manufacturers which demands high strength material for which fiberglass is an apt choice. Hence, automotive application consumes majority of fiberglass in Europe. This is followed by construction industry because fiberglass fulfils the requirements of Building Codes regulation in Europe.
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Global Fiberglass Market: Competition Landscape
- Major companies manufacturing fiberglass include
- Owens Corning
- Jushi Group Co., Ltd
- Taishan Fiberglass Inc.
- Johns Manville
- Chongqing Polycomp International Corp.
- Xingtai Jinniu Fiberglass Co., Ltd
- Shandong Fiberglass Group Co., Ltd
- Glasstex Fiberglass Materials Corp.
- In February 2020, Moi Composite presented MAMBO (Motor Additive Manufacturing Boat), a fiberglass 3D printed boat collaborating with industrial partners: Autodesk (provided the tools for the realization of the three-dimensional drawing of the hull), Catmarine (transformed the various sections produced digitally into a finished boat), Micad (engineered comples structures) , Owens Corning (supplied the glass reinforcements fibers) , Osculati (provided accessories capable of adapting to the curves and design of the entire hull) and UCINA in order to overcome customized design and performance limits of conventional manufacturing and 3D printing for strong, lightweight and durable composite products.
- In June 2018, Owens Corning entered into a Strategic Cooperation and Supply Agreement with Chongqing Polycomp International Corp. (CPIC) for joint investment in technology, and construction and operation by CPIC of a new facility dedicated to the manufacture of high-modulus glass fiber products in China.
- In April 2018, Owens Corning entered into technology licensing and manufacturing supply agreements with Taiwan Glass Ind. Corp., based in Taiwan.
- In December 2017, Taishan Fiberglass announced its plan to invest US$ 76.28 Mn in its project which is anticipated to produce 5 kilo tons of ultra-fine electronic yarn glass fiber. This is expected to increase the company’s fiberglass capacity to 705 kilo tons, helping it to compete in the tough market in China, which is generating revenue by exporting products to the western countries.
Global Fiberglass Market: Scope of the Report
TMR’s recent publication on the global fiberglass market provides audiences with an overall market outlook, with the help of comprehensive assessment of the global market scenario. TMR’s study on the global fiberglass market analyzes the market with respect to the historical and current market scenario and offers forecast for the period from 2019 to 2027.
Report readers are able to make important decisions pertaining to their business with a wealth of information and exclusive insights on the global fiberglass market enclosed in the study. The report on the global fiberglass market also provides in-depth understanding of key market trends and advancement made by companies. This TMR report is divided into different sections to allow readers to gain individual understanding of the global fiberglass market.
Key Queries Addressed in Report
- How much volume sales is expected to be generated in the global fiberglass market by the products during the forecast period?
- What are key growth indicators and market dynamics that are expected to drive the global fiberglass market in the next five years?
- Which regions are estimated to provide lucrative opportunities to the global fiberglass market during the forecast period?
- What are the essential strategies adopted by key players operating in the global fiberglass market in order to expand their geographical presence?
The first section of the TMR’s report on the global fiberglass market begins with a premise that includes report scope, market segmentation, and research highlights. This is followed by the executive summary that highlights aspects of the global fiberglass market covered in the study. This section provides brief understanding of market elements and enables readers to understand the aspects covered in the study. The report also includes market dynamics on fiberglass that offer understanding of market drivers, restraints, and opportunities.
The next section includes segmentation analysis of the global fiberglass market. This evaluation includes segmentation of the global fiberglass market based on glass type, fiber type, technology, application and region. Furthermore, analysis of key segments, year-on-year growth projection, and basis point share analysis are included in the report. These help readers identify promising areas for growth of the market.
The TMR’s study on the global fiberglass market offers assessment of the geographical landscape of the market. The regional study helps market competitors make important decisions pertaining to their business. Individualized, region-wise, and segment-wise analysis helps readers decipher the growth potential for the market across various geographies. Supported by year-on-year growth projection and global market value and volume share, this section is a vital part of the fiberglass report.
The study on the global fiberglass market offers a holistic competitive value judgment, with details of leading as well as emerging market players. The dashboard view of competitors operating in the global fiberglass market allows readers to understand business strategies of these players along with their performance.
Global Fiberglass Market: Research Methodology
The TMR’s report on the global fiberglass market is based on detailed estimation of the market, with the inclusion of comprehensive primary and secondary research inputs. Detailed investigation of the global fiberglass market, in terms of competition scenario, is supported by individual-level examination of different avenues related to the market. Furthermore, for secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the required understanding of the global fiberglass market. This helps TMR’s analysts derive crucial predictions and forecast of the global fiberglass market. Readers can access the study of the global fiberglass market to gain projected market analysis for the period from 2019 to 2027.
Global Fiberglass Market: Segmentation
Resin Infusion Molding
Automotive & Transportation
Aerospace & Defense
Sports & Leisure
Middle & Africa