Fiberglass Market | Current Stats and Future Trends 2020-2030
Rising demand form energy and utility applications, growth of aerospace & defense industry, and technological advancement in composite materials are the key factors dynamically shaping the growth of the global fiberglass market. Fiberglass is a reinforced plastic material with glass fibers used to reinforce the plastic resin base. Owing to the high tensile strength yet lightweight nature of the fiberglass, the demand for fiberglass is increasing across multiple end use applications. Fiberglass is widely used across multiple applications such as building insulations, self-adhesive tapes, waterproofing frit, printed circuit boards, automotive components and so on. The demand for light weight and high strength material in aerospace and automotive industry is on the rise to improve the fuel or energy efficiency. This has fuelled the demand for fiberglass across the globe. However, availability of alternative materials such as carbon fiber, aluminum, and Kevlar is anticipated to hinder the growth of fiberglass market in coming years. With increased demand for green energy and growing investment in development of green energy infrastructure, the fiberglass market is expected to grow significantly during the forecast period.
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Asia Pacific contributed a dominating share to the global fiberglass marker and is expected to be the fastest growing market during the forecast period owing to the presence of leading fiberglass manufacturing companies across major countries. Expansion of automotive, aerospace & defense, and marine equipment manufacturing industry is anticipated to bolster the growth of Asia Pacific fiberglass market during the forecast period. Asia Pacific is anticipated to witness prominent shift in the supply chain on fiberglass market due to the COVID-19 pandemic, with major manufacturers focusing of diversifying business operations across different countries to strengthen their supply chain. Europe is anticipated to witness steady growth during the forecast period owing to rising demand from energy & utility industry.
Fiberglass Market Share Analysis, by Geography (2019)
The report titled “Fiberglass Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global fiberglass market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global fiberglass market is segmented on the basis of glass type, resin type, fiber type, technology, applications, end use industry, and geography. Based on glass type, the global fiberglass market is segmented into S-glass, C-glass, E-glass, ECR-glass, and others. Based on resin type, the global fiberglass market is segmented into thermoset resins and thermoplastic resins. Based on fiber type, the global fiberglass market is segmented into rovings, mats, strands, fabrics, and others. Based on technology, the global fiberglass market is segmented into layup, resin infusion molding, injection molding, compression molding, filament winding, pultrusion, and others. Based on applications, the global fiberglass market is segmented into composites, insulations, and others. Based on end use industry, the global fiberglass market is segmented into automotive, building & construction, aerospace & defense, energy & utility, marine, and others.Based on geography, the global Fiberglass market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on fiberglass. Further, market share of prominent companies in the global fiberglass market would also be estimated. The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the fiberglass companies.