The Global Fiberglass Market Report, published by Emergen Research, offers an industry-wide assessment of the Fiberglass market, which is inclusive of the most crucial factors contributing to the growth of the industry. The latest research report comprises an extensive analysis of the micro- and macro-economic indicators that influence the global market development during the forecast period of 2020-2027. The current trends of the Fiberglass market, combined with a wide array of growth opportunities, key drivers, restraints, challenges, and other critical aspects, have been vividly detailed in the Fiberglass market report. Furthermore, the report takes into account various market dynamics, which, in turn, generate a plethora of developmental prospects for the leading players involved in the of the Fiberglass industry.
The fiberglass market is likely to reach USD 15.79 Billion by 2027, according to a current analysis by Emergen Research. This growth of the market can be attributed to the rising demand for insulated building roofs and walls. The low heat distribution gradient and non-conductive nature of fiberglass, which make it suitable for utilization in the construction of insulated roofs and walls, has driven the fiberglass market. Extensive usage of fiberglass composites across various industries, such as chemical & petrochemical, oil & gas, pulp & paper, offshore drilling, mining & mineral, waste & wastewater, metal processing, and food processing industries, is contributing to the fiberglass market. A key factor driving the market is that fiberglass composites are highly customizable and they offer several advantages over traditional materials.
Covid-19 impact: The COVID-19 pandemic has severely affected the automotive & transportation industry, the aerospace industry, and the construction & infrastructure industry. It has disrupted the supply chain for raw material, affecting the demand for fiberglass products in end-use industries. Consumer buying behavior has changed, as people are facing a financial crisis, which has affected sales of automotive vehicles all over the world. The lockdown has restricted airline services across the international borders, which has decreased the demand for new aircraft, thereby affecting sales of the fiberglass material.
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The report considers COVID-19 as a key contributor of the dynamically altered market scenario. The report covers a comprehensive impact analysis of the global health crisis on the overall growth of the market. Furthermore, the report covers the current and future impact of the COVID-19 crisis on the market and its key segments.
Valuable Market Insights:
- The report highlights the latest trends observed in the consumption pattern of each regional segment.
- Extensive market segmentation included in the report helps better understand the revenue and estimated growth of the individual regions.
- The report throws light on the historical and current market scenarios and provides a concise year-on-year growth rate of the global Fiberglass market.
- The report further entails the current market trends, technological advancements, revenue growth, and other aspects affecting market growth.
The global Fiberglass market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Fiberglass market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
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Key Highlights of Report
- In August 2020, Owens Corning announced a new product line called FOAMULAR® NGX insulation. The proprietary blowing agent in this new line of extruded polystyrene (XPS) foam products delivers 90% reduction in global warming potential (GWP), without sacrificing product performance.
- The glass wool segment held the largest market share of 33.5% in 2019. Increasing expenditure on ongoing construction projects in developed as well as developing economies has resulted in increased demand for glass wool.
- The composites segment is projected to expand at the most rapid CAGR of 5.0% during the forecast period. The non-conductive nature and lower heat distribution gradient of fiberglass help in making it a great electric insulator. Also, it saves energy and lowers utility bills, which has increased utilization of fiberglass composites in the construction & infrastructure industry.
Key market participants include TAISHAN FIBERGLASS INC. (CTG), Owens Corning, Nippon Electric Glass Co., LTD., Binani 3B-The Fibreglass Company, China Jushi Co., Ltd., Taiwan Glass Ind Corp., PFG Fiber Glass (Kunshan) Co., Ltd., Johns Manville Corp., Knauf Insulation, and AGY Holding Corp.
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Emergen Research has segmented the global fiberglass market on the basis of type, application, end-use, and region:
- Type Outlook (Revenue, USD Billion; 2017–2027)
- Glass Wool
- Chopped Strands
- Application Outlook (Revenue, USD Billion; 2017–2027)
- End-use Outlook (Revenue, USD Billion; 2017–2027)
- Wind Energy
- Building & Construction
- Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
Overview of the Fiberglass Market Report:
- Introduction, Product Scope, Market Overview, and Opportunities
- Analysis of the Manufacturers with sales, revenue, and price analysis
- Comprehensive analysis of the competitive landscape
- Extensive profiling of the key competitors along with their business strategies and market size
- Regional analysis of the market along with sales, revenue, market share, and global position
- Country-wise analysis of the market along with types, applications, and manufacturing
- Strategic recommendations to established players as well as new entrants
- In-depth analysis of the risks, restraints, and limitations in the Fiberglass industry
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
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