3D Printing to Provide Opportunities to Fiberglass Mold Market

  • Of late, fiberglass has been the major constituent of the composites industry owing to its unique characteristics such as lightness of weight, thermal stability, corrosion resistance, chemical resistance, and low lifecycle costs. Fiberglass molds are used to manufacture composite products involving complex designs.
  • Fiberglass mold provides high dimensional stability, smooth surface, and complex shapes to composite materials. Fiberglass mold has longer shelf life compared to other molds. Fiberglass is regarded as green, sustainable, and energy-efficient material. Its demand is expected to rise significantly in various industries such as wind energy, automotive, and marine in the near future.
  • 3D printing technology is expected to appeal to fiberglass mold manufacturers, as it is a less expensive way to develop an otherwise expensive technology. 3D printing of the fiberglass mold eliminates the need for a plug, and is estimated to offer a broad scope of design innovations during forecast period.

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Key Drivers and Restraints of Fiberglass Mold Market

  • Increase in global population calls for smart architecture, smart mobility, and smart energy solutions. Fiberglass is anticipated to emerge as a high strength and lightweight solution for these purposes.
  • Wind energy is anticipated to offer strong potential for fiberglass mold by 2027. Rise in demand for larger wind turbine blades and increasingly efficient wind farm configurations are projected to be the key factors propelling the fiberglass mold market.
  • Rise in demand for renewable energy sources for generating electricity and slow decrease in cost of wind energy are anticipated to boost the installation of wind turbines during the forecast period. This, in turn, is estimated to drive the demand for fiberglass molds in the manufacture of wind blades.
  • Increase in demand for techniques to shorten the production cycle time and elongate the lifecycle of fiberglass molds is likely to boost the demand for adoption of innovative processing techniques such as 3D printing, thereby improving the economies of scale for fiberglass the mold industry
  • Fiberglass based manufacturing processes involve high volumes of manufacturing scrap. Stringent conventions regarding landfill disposal may hamper the market to some extent during forecast period.

Vinyl Ester Resin Segment to Mark Strong Demand

  • Based on resin type, the market can be divided into vinyl ester, epoxy, polyester, polyurethane, and phenolic resins. The epoxy segment held dominant share of the global fiberglass mold market in 2018 owing to its physical, mechanical, high temperature resistance, and adhesion properties; and low shrinkage compared to other resins.
  • Demand for vinyl ester based fiberglass molds is expected to increase in the marine industry in the near future, owing to the exceptional chemical resistance characteristics of vinyl ester
  • Fiberglass mold is extensively used to manufacture wind blades with sandwich construction of various composite materials. These materials include glass fiber composites, carbon fiber composites, and aramid fiber composites, which possess high tensile strength, bending strength, and high stiffness-to-weight ratio.

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Wind Energy to be the Prominent End-use Industry

  • Based on end-use industry, the global fiberglass mold market can be segregated into marine, aerospace, wind energy, automotive, construction, and others. Innovation in design and manufacture of wind power generation components continues to be critical. The wind energy segment is projected to constitute major share of the global fiberglass mold market during the forecast period.

Asia Pacific to be Key Region of Global Fiberglass Mold Market

  • In terms of region, the global fiberglass mold market can be split into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Abundant availability of raw materials, favorable manufacturing regulations, rise in government initiatives, rapid growth in population, and expansion in various industries (including automotive and construction) are key factors anticipated to augment the demand for fiberglass mold in Asia Pacific by 2027
  • China and India are the prominent countries projected to constitute large share of the fiberglass mold market in Asia Pacific during the forecast period
  • Increase in demand for technical components to replace metal parts in the automotive industry and rise in manufacturing base are estimated to augment the fiberglass mold market in Asia Pacific
  • Demand for fiberglass mold is anticipated to be high in North America during the forecast period, particularly for wind energy applications. Wind power provides more than 5% of the total electricity generation in the U.S. It is likely to be the fastest growing form of renewable energy in the U.S. in the near future, providing substantial potential for fiberglass mold market. 

Key Manufacturers in Market

The global fiberglass mold market was highly fragmented in 2018. Key manufacturers operating in the fiberglass mold market include:

  • Gurit Holding AG
  • Norco Composites & GRP
  • Janicki Industries
  • Dencam Composite
  • SSP Technology
  • Shandong Shuangyi Technology Co., Ltd.
  • CMDT Manufacturing
  • indutch composites technology pvt. ltd.
  • SCHÜTZ GmbH & Co. KGaA
  • Charloma Inc.

Global Fiberglass Mold Market: Research Scope 

Global Fiberglass Mold Market, by Resin

  • Polyester
  • Vinyl ester
  • Epoxy
  • Others (including Polyurethane and Phenolic Resins)

Global Fiberglass Mold Market, by End-use Industry

  • Marine
  • Aerospace
  • Wind Energy
  • Automotive
  • Construction
  • Others (including Wastewater Treatment and Oil & Gas)

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

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Fiberglass Mold Market

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