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Global Fiberglass Market, By Type, By Form, By Manufacturing Process, By Resin, By Industry, By Region, Estimation & Forecast, 2017 - 2027

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  • 269 Pages
  • August 2021
  • Region: Global
  • Astute Analytica
  • ID: 5438458

Global Fiberglass Market is Forecasted to Grow at a CAGR of 5.8% During the Forecast Period 2017-2027

The global fiberglass market was valued at USD 13,155.3 Million in 2020 and is projected to reach USD 18,648.7 Million by the year 2027. The market is expected to witness a CAGR of 5.8% during the forecast period.

Fiberglass is one of the most common types of fiber-reinforced plastic using glass fiber. It can be flattened into a sheet, woven into glass cloth, or arranged randomly. The market is anticipated to be driven by the increasing use of fiberglass composite in the automotive & construction industry, rising demand for composite components, and the strict regulation for emission control favor fiberglass over other materials. Furthermore, the rising number of wind energy capacity installations is estimated to provide lucrative opportunities for market growth.

The instability of raw material pricing along with the improper disposal techniques for recycling glass wool is anticipated to hinder the market growth. Also, the manufacturing process of fiberglass is complex as well as capital-intensive, which also hampers the market growth. The COVID-19 pandemic has forced many end-user industries, such as automotive, aerospace, and construction to stop their production, which has decreased the demand for fiberglass, hence negatively affecting the market growth.

Growth Influencers:

Increase in use of fiberglass composite in the construction and automotive industry

Fiberglass is extensively used in the automotive industry owing to its high strength-to-weight ratio. Vehicles manufactured using high-strength and low-weight materials provide higher mileage and also enhance fuel efficiency. The application of fiberglass for improving fuel efficiency also helps automotive manufacturers for meeting the strict regulations imposed on the industry for reducing carbon dioxide emissions. In the construction industry, fiberglass is used as a wall covering for decoration, finishing of walls, fire protection, and renovation of ceilings & walls. These factors boost market growth.

Segments Overview:

The global fiberglass market is segmented based on the type, form, manufacturing process, resin, and industry.

By Type

  • A- Glass Fiber
  • C- Glass Fiber
  • D- Glass Fiber
  • E- Glass Fiber
  • Advantex Glass Fiber
  • ECR Glass Fiber
  • AR Glass Fiber
  • R- Glass Fiber
  • S2 Glass Fiber
  • M- Glass Fiber
  • Z- Glass Fiber

The E-glass fiber is expected to hold the largest market share of about 21% owing to its cost efficiency and low weight. It is also corrosion-resistant and has numerous applications in industries such as marine, electronics & electrical, and wind energy. The ECR glass fiber segment is estimated to grow at the fastest rate, while the D-glass fiber segment surpasses a value of USD 1,708.5 million by 2025.

By Form

  • Tow
  • Veil mats
  • Woven fabrics
  • Chopped strand mat
  • Tape
  • Rope
  • Cloth
  • Others

The tow segment is estimated to dominate the market with around 29% owing to the high demand for fiberglass in tow form. The chopped strand mat segment is expected to grow at the fastest rate of 6.9%. The tape segment is anticipated to cross the cloth segment by 2023 and become the sixth-largest contributing segment.

By Manufacturing Process

  • Continuous Filament
  • Staple Filament

The continuous filament segment is expected to hold the largest market share owing to its increasing adoption for the manufacturing of fiberglass.

By Resin

  • Polyester
  • Vinyl esters
  • Epoxy
  • Polyurethanes
  • Others

The polyester segment held the largest market share of around 38% owing to its high usage, while the epoxy segment is anticipated to grow at a CAGR of 6.2% owing to the strong bond it can create as compared to other resins.

By Industry

  • Aircraft and Aerospace
  • Construction Industry
  • Consumer Goods
  • Corrosion Resistant Equipment
  • Electrical devices
  • Marine Industry
  • Automobile Industry

The construction industry segment is estimated to hold the dominant market share of over 30% due to its high usage in a varied range of building applications, such as walls, roofs, ladders, windows, and panels. The aircraft & aerospace segment is expected to grow at the fastest rate of 9.7% and the marine industry is anticipated to hold a market value of around USD 1,210.4 million by 2025.

Regional Overview

On a regional basis, the global fiberglass market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The Asia Pacific region held the largest market share of around 52% in the global market owing to the rising automotive and construction sectors in the region. Also, the increasing industrialization in countries such as India, Japan, and China is estimated to contribute to the market growth. The Middle East & African region witnessed a growth rate of about 5.8% owing to the growing automobile sector in the region.

Competitive Landscape

Key players operating in the global fiberglass market include AGY Holding Corp, Asahi Fiberglass Co., Ltd., Binani 3B-the Fibreglass Company, CertainTeed Corporation, Chongqing Polycomp International Corp. (CPIC), Johns Manville Corp., Jushi Co., Ltd., Knauf Insulation, Nippon Electric Glass Co., Ltd., Owens Corning, PFG Fiber Glass Co., Ltd., Saint-Gobain Vetrotex, Taishan Fiberglass Inc., and Taiwan Glass Ind. Corp., among others.

The cumulative market share of the nine major players is near about 55%. These market players are involved in collaborations, mergers & acquisitions, and new product launches to strengthen their market presence. For instance, in July 2021, Owens Corning acquired Vliepa GmbH, a building materials products company. This strengthened Owens Corning’s position in the nonwovens portfolio for catering to its European customers in a better way and accelerating the growth of the construction and building products’ portfolio.

The global fiberglass market report provides insights on the below pointers:

  • Market Penetration: Provides comprehensive information on the market offered by the prominent players
  • Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
  • Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
  • Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Fiberglass market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
  • Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The global Fiberglass market report answers questions such as:

  • What is the market size and forecast of the Global Fiberglass Market?
  • What are the inhibiting factors and impact of COVID-19 on the Global Fiberglass Market during the assessment period?
  • Which are the products/segments/applications/areas to invest in over the assessment period in the Global Fiberglass Market?
  • What is the competitive strategic window for opportunities in the Global Fiberglass Market?
  • What are the technology trends and regulatory frameworks in the Global Fiberglass Market?
  • What is the market share of the leading players in the Global Fiberglass Market?
  • What modes and strategic moves are considered favorable for entering the Global Fiberglass Market?

Table of Contents

Chapter 1. Research Framework
1.1 Research Objective
1.2 Product Overview
1.3 Market Segmentation
Chapter 2. Research Methodology
2.1 Qualitative Research
2.1.1 Primary & Secondary Sources
2.2 Quantitative Research
2.2.1 Primary & Secondary Sources
2.3 Breakdown of Primary Research Respondents, By Region
2.4 Assumption for the Study
2.5 Market Size Estimation
2.6. Data Triangulation
Chapter 3. Executive Summary: Global Fiberglass Market
Chapter 4. Global Fiberglass Market Overview
4.1. Industry Value Chain Analysis
4.1.1. Material Provider
4.1.2. Designing and Manufacturer
4.1.3. Distributor
4.1.4. End Users
4.2. Industry Outlook
4.2.1. Leading Fiberglass Manufacturer
4.3. PESTLE Analysis
4.4. Porter's Five Forces Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of Substitutes
4.4.4. Threat of New Entrants
4.4.5. Degree of Competition
4.5. Market Dynamics and Trends
4.5.1. Growth Drivers
4.5.2. Restraints
4.5.3. Challenges
4.5.4. Key Trends
4.6. Covid-19 Impact Assessment on Market Growth Trend
4.7. Market Growth and Outlook
4.7.1. Market Revenue Estimates and Forecast (US$ Mn), 2017 - 2027
4.7.2. Price Trend Analysis
4.8. Competition Dashboard
4.8.1. Market Concentration Rate
4.8.2. Company Market Share Analysis (Value %), 2020
4.8.3. Competitor Mapping
Chapter 5. Global Fiberglass Market Analysis, By Type
5.1. Key Insights
5.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
5.2.1. A- Glass Fiber
5.2.2. C- Glass Fiber
5.2.3. D- Glass Fiber
5.2.4. E- Glass Fiber
5.2.5. Advantex Glass Fiber
5.2.6. ECR Glass Fiber
5.2.7. AR Glass Fiber
5.2.8. R- Glass Fiber
5.2.9. S2 Glass Fiber
5.2.10. M- Glass Fiber
5.2.11. Z- Glass Fiber
Chapter 6. Global Fiberglass Market Analysis, By Form
6.1. Key Insights
6.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
6.2.1. Tow
6.2.2. Veil mats
6.2.3. Woven fabrics
6.2.4. Chopped strand mat
6.2.5. Tape
6.2.6. Rope
6.2.7. Cloth
6.2.8. Others
Chapter 7. Global Fiberglass Market Analysis, By Manufacturing Process
7.1. Key Insights
7.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
7.2.1. Continuous Filament
7.2.2. Staple Filament
Chapter 8. Global Fiberglass Market Analysis, By Resin
8.1. Key Insights
8.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
8.2.1. Polyester
8.2.2. Vinyl esters
8.2.3. Epoxy
8.2.4. Polyurethanes
8.2.5. Others
Chapter 9. Global Fiberglass Market Analysis, By Industry
9.1. Key Insights
9.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
9.2.1. Aircraft and Aerospace
9.2.2. Construction Industry
9.2.3. Consumer Goods
9.2.4. Corrosion Resistant Equipment
9.2.5. Electrical devices
9.2.6. Marine Industry
9.2.7. Automobile Industry
Chapter 10. Global Fiberglass Market Analysis, By Region
10.1. Key Insights
10.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
10.2.1. North America The U.S. Canada Mexico
10.2.2. Europe The UK Germany France Spain Russia Rest of Europe
10.2.3. Asia Pacific China India Japan Australia & New Zealand South Korea ASEAN Rest of Asia Pacific
10.2.4. Middle East & Africa (MEA) UAE Saudi Arabia Rest of MEA
10.2.5. South America Argentina Brazil Rest of South America
Chapter 11. North America Fiberglass Market Analysis
11.1. Key Insights
11.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
11.2.1. By Type
11.2.2. By Form
11.2.3. By Manufacturing process
11.2.4. By Resin
11.2.5. By Industry Vertical
11.2.6. By Country
Chapter 12. Europe Fiberglass Market Analysis
12.1. Key Insights
12.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
12.2.1. By Type
12.2.2. By Form
12.2.3. By Manufacturing process
12.2.4. By Resin
12.2.5. By Industry Vertical
12.2.6. By Country
Chapter 13. Asia Pacific Fiberglass Market Analysis
13.1. Key Insights
13.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
13.2.1. By Type
13.2.2. By Form
13.2.3. By Manufacturing process
13.2.4. By Resin
13.2.5. By Industry Vertical
13.2.6. By Country
Chapter 14. China Fiberglass Market Analysis
14.1. Key Insights
14.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
14.2.1. By Type
14.2.2. By Form
14.2.3. By Manufacturing process
14.2.4. By Resin
14.2.5. By Industry Vertical
Chapter 15. India Fiberglass Market Analysis
15.1. Key Insights
15.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
15.2.1. By Type
15.2.2. By Form
15.2.3. By Manufacturing process
15.2.4. By Resin
15.2.5. By Industry Vertical
Chapter 16. Japan Fiberglass Market Analysis
16.1. Key Insights
16.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
16.2.1. By Type
16.2.2. By Form
16.2.3. By Manufacturing process
16.2.4. By Resin
16.2.5. By Industry Vertical
Chapter 17. ASEAN Fiberglass Market Analysis
17.1. Key Insights
17.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
17.2.1. By Type
17.2.2. By Form
17.2.3. By Manufacturing process
17.2.4. By Resin
17.2.5. By Industry Vertical
Chapter 18. Middle East & Africa Fiberglass Market Analysis
18.1. Key Insights
18.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
18.2.1. By Type
18.2.2. By Form
18.2.3. By Manufacturing process
18.2.4. By Resin
18.2.5. By Industry Vertical
18.2.6. By Country
Chapter 19. South America Fiberglass Market Analysis
19.1. Key Insights
19.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
19.2.1. By Type
19.2.2. By Form
19.2.3. By Manufacturing process
19.2.4. By Resin
19.2.5. By Industry Vertical
19.2.6. By Country
Chapter 20. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
20.1. AGY Holding Corp
20.2. Asahi Fiberglass Co., Ltd.
20.3. Binani 3B-the Fibreglass Company
20.4. CertainTeed Corporation
20.5. China Jushi Co., Ltd.
20.6. Chongqing Polycomp International Corp. (CPIC)
20.7. Johns Manville Corp.
20.8. Jushi Co., Ltd.
20.9. Knauf Insulation
20.10. Nippon Electric Glass Co., Ltd.
20.11. Owens Corning
20.12. PFG Fiber Glass Co., Ltd.
20.13. Saint-Gobain Vetrotex
20.14. Taishan Fiberglass Inc.
20.15. Taiwan Glass Ind. Corp.

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • AGY Holding Corp
  • Asahi Fiberglass Co., Ltd.
  • Binani 3B-the Fibreglass Company
  • CertainTeed Corporation
  • China Jushi Co., Ltd.
  • Chongqing Polycomp International Corp. (CPIC)
  • Johns Manville Corp.
  • Jushi Co., Ltd.
  • Knauf Insulation
  • Nippon Electric Glass Co., Ltd. 
  • Owens Corning
  • PFG Fiber Glass Co., Ltd.
  • Saint-Gobain Vetrotex
  • Taishan Fiberglass Inc.
  • Taiwan Glass Ind. Corp.

Table Information