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Global Fiberglass Market to reach USD 18.26 billion by the end of 2030.

Global Fiberglass Market Size study & Forecast, by Glass Type (E-Glass, Specialty), by Product (Glass Wood, Yarn, Roving, Chopped Strands, Others), by Application (Transportation, Building & Construction, Electrical & Electronics, Pipe & Tank, Consumer Goods, Wind Energy, Others) and Regional Analysis, 2023-2030

Product Code: CMGCN-26514111
Publish Date: 4-10-2023
Page: 200

Global Fiberglass Market is valued at approximately USD 12.58 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.8% over the forecast period 2023-2030. The global fiberglass market refers to the industry involved in the production, distribution, and use of fiberglass, which is a reinforced plastic material made from fine fibers of glass. The major driving factors for the Global Fiberglass Market are rising construction industry and the growing automotive industry. Moreover, rising technological advancements and high government support for the market are creating lucrative growth opportunities for the market over the forecast period 2023-2030.

Rise in number of connected cars worldwide is driving the market growth. Connected cars often feature advanced electronic systems and sensors that require lightweight materials to improve fuel efficiency and reduce emissions. Fiberglass is known for its high strength-to-weight ratio, making it an attractive choice for components like body panels, bumpers, and interior parts. For instance,, according to Statista, in 2021 there was 237 million connected cars which is predicted to increase up to 400 million in 2025. Along with this, the global automotive manufacturing industry, due to pandemic the faced decline in revenue. Yet, the market is recovering slowly and in 2022 the market would lift up to USD 2.95 trillion from USD 2.71 trillion in 2020 according to Statista. Along with this, according to the same source, by year 2030, 58 million new self-driving cars are anticipated to be added on road across the globe, which would directly increase the adoption of 5G in automotive. Additionally, around 26% of all new car sales are anticipated to be electric vehicles. However, the high cost of Fiberglass stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Fiberglass Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is a dominating market for fiberglass, driven by the presence of various industries such as construction, automotive, aerospace, and wind energy. The region has a mature fiberglass market, with established manufacturers and high demand for fiberglass products. The construction sector contributes to the growth of the fiberglass market due to the use of fiberglass in applications such as insulation, roofing, and composite materials. The Asia-Pacific region is experiencing significant growth in the fiberglass market due to rapid industrialization, urbanization, and infrastructure development. Countries such as China, India, and Japan have a high demand for fiberglass products, particularly in the construction, automotive, and electronics industries. The region is also witnessing a surge in wind energy projects, contributing to the demand for fiberglass in wind turbine components.

Major market player included in this report are:
LANXESS (Germany)
Owens Corning (U.S.)
3B – The Fiberglass Comp (Belgium)
Shandong Fiberglass Group Corp (China)
Nippon Electric Glass Co., Ltd (Japan)
Taishan Fiberglass Inc.(CTG) (China)
Chongqing Polycomp International Corp. (China)
Johns Manville (U.S.)
Saint-Gobain Vetrotex (France)
China Jushi Co., Ltd. (China)

Recent Developments in the Market:
Ø In June 2022, Owens Corning announced the signing of an agreement to establish a joint venture with Pultron Composites. This joint venture aims to manufacture fiberglass rebar, a type of reinforcement used in concrete. Through this partnership, Owens Corning reaffirms its commitment to offering high-performance concrete reinforcement products in a sustainable manner. Fiberglass rebar provides advantages such as increased durability and corrosion resistance compared to traditional steel reinforcement.
Ø In February 2021, Saint-Gobain Vetrotex introduced a new sizing system called T34 as a successor to their previous T30 product. The T34 sizing system was specifically developed to enable heat-cleaning operations without compromising the textile properties of fiberglass. According to the company, the T34 sizing system has demonstrated excellent performance, with no broken filaments occurring during the weaving processes. This innovation enhances the manufacturing process of fiberglass textiles and contributes to improved product quality.

Global Fiberglass Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Glass Type, Product, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

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 years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Glass Application offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Glass Type:

By Product:
Glass Wood
Chopped Strands

By Application:
Building & Construction
Electrical & Electronics
Pipe & Tank
Consumer Goods
Wind Energy

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Fiberglass Market, by Region, 2020-2030 (USD Billion)
1.2.2. Fiberglass Market, by Glass Type, 2020-2030 (USD Billion)
1.2.3. Fiberglass Market, by Product, 2020-2030 (USD Billion)
1.2.4. Fiberglass Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Fiberglass Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Fiberglass Market Dynamics
3.1. Fiberglass Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising construction industry Growing Automotive industry
3.1.2. Market Challenges High Cost of Fiberglass Health concerns associated with the production and disposal of fiberglass products
3.1.3. Market Opportunities Rising technological advancements High government support
Chapter 4. Global Fiberglass Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Fiberglass Market, by Glass Type
5.1. Market Snapshot
5.2. Global Fiberglass Market by Glass Type, Performance – Potential Analysis
5.3. Global Fiberglass Market Estimates & Forecasts by Glass Type 2020-2030 (USD Billion)
5.4. Fiberglass Market, Sub Segment Analysis
5.4.1. E-Glass
5.4.2. Specialty
Chapter 6. Global Fiberglass Market, by Product
6.1. Market Snapshot
6.2. Global Fiberglass Market by Product, Performance – Potential Analysis
6.3. Global Fiberglass Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
6.4. Fiberglass Market, Sub Segment Analysis
6.4.1. Glass Wood
6.4.2. Yarn
6.4.3. Roving
6.4.4. Chopped Strands
6.4.5. Others
Chapter 7. Global Fiberglass Market, by Application
7.1. Market Snapshot
7.2. Global Fiberglass Market by Application, Performance – Potential Analysis
7.3. Global Fiberglass Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
7.4. Fiberglass Market, Sub Segment Analysis
7.4.1. Transportation
7.4.2. Building & Construction
7.4.3. Electrical & Electronics
7.4.4. Pipe & Tank, Consumer Goods
7.4.5. Wind Energy
7.4.6. Others
Chapter 8. Global Fiberglass Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Fiberglass Market, Regional Market Snapshot
8.4. North America Fiberglass Market
8.4.1. U.S. Fiberglass Market Glass Type breakdown estimates & forecasts, 2020-2030 Product breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Fiberglass Market
8.5. Europe Fiberglass Market Snapshot
8.5.1. U.K. Fiberglass Market
8.5.2. Germany Fiberglass Market
8.5.3. France Fiberglass Market
8.5.4. Spain Fiberglass Market
8.5.5. Italy Fiberglass Market
8.5.6. Rest of Europe Fiberglass Market
8.6. Asia-Pacific Fiberglass Market Snapshot
8.6.1. China Fiberglass Market
8.6.2. India Fiberglass Market
8.6.3. Japan Fiberglass Market
8.6.4. Australia Fiberglass Market
8.6.5. South Korea Fiberglass Market
8.6.6. Rest of Asia Pacific Fiberglass Market
8.7. Latin America Fiberglass Market Snapshot
8.7.1. Brazil Fiberglass Market
8.7.2. Mexico Fiberglass Market
8.8. Middle East & Africa Fiberglass Market
8.8.1. Saudi Arabia Fiberglass Market
8.8.2. South Africa Fiberglass Market
8.8.3. Rest of Middle East & Africa Fiberglass Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. LANXESS (Germany) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Owens Corning (U.S.)
9.3.3. 3B – The Fiberglass Comp (Belgium)
9.3.4. Shandong Fiberglass Group Corp (China)
9.3.5. Nippon Electric Glass Co., Ltd (Japan)
9.3.6. Taishan Fiberglass Inc. (CTG) (China)
9.3.7. Chongqing Polycomp International Corp. (China)
9.3.8. Johns Manville (U.S.)
9.3.9. Saint-Gobain Vetrotex (France)
9.3.10. China Jushi Co., Ltd. (China)
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
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Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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