October 06, 2022 15:39 ET | Source: Facts & Factors Facts & Factors
DUBLIN, Ireland, Oct. 06, 2022 (GLOBE NEWSWIRE) -- According to Facts and Factors has published a new research report titled “Fiberglass Market Size, Share, Growth Analysis Report By Glass Type (E-Glass, ECR-Glass, S-Glass, AR-Glass, H-Glass, Others), By Resin Type (Thermoset Resins, Thermoplastic Resins), By Product Type (Glass Wool, Direct, Assembled Roving, Yarn, Chopped Strand, Others), By Application (Composites, Insulation), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database. E-Glass Direct Roving For Pultrusion
“According to the latest research study, the global Fiberglass Market size was valued at USD 27.10 Billion in 2021 and it is expected to surpass around USD 35.69 Billion by 2028, growing at a compound annual growth rate (CAGR) of approximately 4.70% during the forecast period 2022 to 2028.”
A substance called fiberglass is created from tiny strands of plastic glass. It is a type of fiber-reinforced plastic where the reinforced plastic contains glass fiber. It is also referred to as glass- or glass-fiber-reinforced plastic. Typically, the glass is flattened into a sheet and placed at random or weaved into a material. It is less brittle, robust, and lightweight.
Additionally, it is malleable enough to take on many different forms. It is one of the most popular materials used in industrial gaskets because it offers superior insulation and safeguards the equipment. It is also utilized for bottling lines and brewhouses in the brewing sector.
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Global Fiberglass Market: Growth Drivers
The infrastructure & building industry's growing use of fiberglass is the main factor driving the global fiberglass market. The extensive usage of fiberglass will drive the fiberglass market in the production of automobiles and water storage systems. The use of fiberglass in architecture is becoming increasingly popular due to its advantages over other materials, including corrosion resistance, affordability, and lightweight. The growing need for insulation applications is driving the use of fiberglass materials in the building and construction industry.
The growing interest in renewable energy sources has led to more wind turbine installations worldwide, raising the need for fiberglass in wind turbine blade production. During the projection period, it is anticipated that the expanding trend of producing advanced fiberglass in the wind energy industry would present profitable prospects for producers of fiberglass materials.
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The global fiberglass market has been segmented into glass, resin, product, application, and region.
The market is segmented into E-glass, ECR-glass, S-glass, AR-glass, H-glass, and others based on glass type. The S-glass segment dominated the glass-type segment in 2021. Based on resin type, the market is segmented into thermoset and thermoplastic. Thermostat resin dominated the market in 2021. Based on product type, the global fiberglass market is segmented into glass wool, direct & assembled fiberglass, yarn, shredded, and others. The yarn segment dominated the product type segment in 2021.
The global Fiberglass market is segmented as follows:
Browse the full “Fiberglass Market Size, Share, Growth Analysis Report By Glass Type (E-Glass, ECR-Glass, S-Glass, AR-Glass, H-Glass, Others), By Resin Type (Thermoset Resins, Thermoplastic Resins), By Product Type (Glass Wool, Direct, Assembled Roving, Yarn, Chopped Strand, Others), By Application (Composites, Insulation), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/fiberglass-market
The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. Some of the main competitors dominating the global Fiberglass market include -
Key Insights from Primary Research:
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The global fiberglass market is segmented into geographical regions: North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. Asia-Pacific dominated the market in 2021. The growing interest in emission control policies and the growing demand for environmentally friendly products has led to technological advancements in composites. The replacement of traditional materials, such as steel and aluminum, with fiberglass, contributes to the growth of the fiberglass market in Asia Pacific. In addition, the growing demand for fiberglass from various industries, such as construction, transportation, automotive, and electronics, is expected to drive the fiberglass market in the Asia-Pacific region.
November 2021: Taishan Fiberglass Inc. (CTG) has announced a USD 250 million investment to establish a new yarn manufacturing facility in Gujarat, India, to serve the Indian and Middle East markets.
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