Global Fiberglass Market is valued approximately at USD 11.00 billion in 2019 and is anticipated to grow with a growth rate of more than 4.5% over the forecast period 2020-2027. Fiberglass is reinforced plastic material, processed into sheets or fibers in a resin matrix. It is easy to handle, lightweight, compressive strength and has moderate tensile. Fiberglass is used in various applications including storage tanks, piping, filament winding, composites, insulations, and house building. The extensive use of fiberglass in the construction & infrastructure industry and increased use of fiberglass composites in the automotive industry are the few factors responsible for growth of the market over the forecast period. For instance: according to Ministry of Housing and Urban Affairs, on 10th February 2020, Ministry of Housing and Urban Affairs announced that 3.2 million houses will be constructed under Pradhan Mantri Awas Yojana-Urban (PMAY-U), out of the total sanctioned 1.03 crore houses in India. Furthermore, the strategic alliance such as product launch, acquisition, merger and others by market key players will create a lucrative demand for this market. For instance: on 18th December 2018, Jushi India Fiberglass (China’s Jushi Group) invested around USD 246 million for the establishment of fiberglass manufacturing plant at Talegaon in Maharashtra, India. This construction plant has the capacity to manufacture 1 lakh tons along with 600 engineers employed. However, issues in the glass wool recycling, fluctuations raw material prices, challenges of the production process is the major factor restraining the growth of global Fiberglass market during the forecast period.
The regional analysis of global Fiberglass market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world owing to the increasing focus on emission control policies and the growing demand for ecofriendly products have led to technological advancements in the field of composites.
Major market player included in this report are:
China Jushi Co., Ltd.
Taishan Fiberglass Inc. (CTG)
Chongqing Polycomp International Corp. (CPIC)
Nippon Electric Glass Co., Ltd.
Binani 3B-The Fibreglass Company
Taiwan Glass Ind. Corp.
Johns Manville Corp.
Pfg Fiber Glass (Kunshan) Co., Ltd.
Asahi Fiberglass Co., Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Glass Type:
By Resin Type:
By Product Type:
Direct and Assembled Roving
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Fiberglass Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers