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Fiberglass Market Investigation Monitors Prominent Growth Trends Recorded during Forecast Period

Apr 8th 2019 at 4:35 AM

Looking at the current market trends as well as the promising demand status of the Fiberglass Market, it can be projected that the future years will bring out positive outcomes. This research report added by MRRSE on its online portal delivers clear insight about the changing tendencies across the global Fiberglass Market. Readers can gather prime facets connected to the target market which includes product, end-use and application; assisting them to draw conclusions out of this intelligent research report.

The global Fiberglass (Glass Fiber) Market was estimated to be around US$ 8,347.2 million in 2017. The global market is expected to register a CAGR of 4.3% over the forecast period (2018–2028).

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Construction of the water supply systems and increase in the oil and gas exploration activities have led to a surge in demand for various fiberglass (glass fiber) products such as pipes & tanks, bathtubs and FRP panels during the forecast period in the MEA region. Fiberglass (Glass Fiber) is corrosion resistant and can withstand high temperatures and adverse conditions, due to which manufacturers prefer opting for fiberglass as an important manufacturing component. Attributed to these factors, demand for fiberglass continues to remain high in countries with high humidity level, extreme temperature conditions, and high soil salinity. Bound to the corrosion resistant and robust features, manufacturers are focusing on utilizing the fiberglass (glass fiber) in for pipes & tanks, and in water supply and storage applications

With the presence of various fiberglass (glass fiber) end-users in MEA region such as Middle East Fiber Glass (MFG), Gulf Fiberglass Factory (GFGF), Global Fiber Glass (GFG) and ADVANCED Fiberglass Industry LLC, demand for fiberglass (glass fiber) is expected to increase during the forecast period

However, utilizing glass fiber for manufacturing and construction purposes has led to various health problems such as rashes on the skin, irritation in eyes and stomach and soreness in throat and lungs. As small glass fibers have the ability to reach the lower parts of internal organs such as stomach, lungs, and skin, the risk of developing adverse health effects continues to persist among manufacturers and constructors. Due to the adverse effects of glass fiber, growth of the global fiberglass (glass fiber) market is likely to face headwinds during the forecast period.

Major players involved in the fiberglass (glass fiber) market are focusing on acquisition and expansion of their production capacities to enhance their operational efficiency and product portfolio. Also, strategic collaborations and joint venture will improve sales & distribution network of the fiberglass (glass fiber), which in turn is expected to boost growth of the global market during the forecast period.

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Global Fiberglass (Glass Fiber) Market Segmentation and Forecast

Fiberglass (Glass Fiber) Market is segmented on the basis of product type as:

Rovings

Mats

Strands

Fabrics

Fiberglass (Glass Fiber) Market is segmented on the basis of glass type as:

S-Class

E-Class

C-Class

ECR-Class

Others

Fiberglass (Glass Fiber) Market is segmented on the basis of application as:

Aerospace & Defense

Wind Energy

Construction

Marine

Sports & Leisure

Pipes & Tanks

Automotive

Others

Fiberglass (Glass Fiber) Market is segmented on the basis of region as:

North America

Latin America

Western Europe

China

APAC excluding China & Japan

Eastern Europe

MEA

Japan

Global Fiberglass (Glass Fiber) Market Analysis, by Region

From a regional perspective, the fiberglass (glass fiber) market in China is projected to witness the fasted growth over the forecast period. China is estimated to account for a revenue share of more than 32% in overall fiberglass (glass fiber) by 2028-end. However, the fiberglass (glass fiber) market in North America is expected to register a CAGR of 4.0 % in terms of volume over the forecast period. Fiberglass (glass fiber) market in North America is expected to reach US$ 2,687.3 Mn by the end of 2028, recording a CAGR of 8.7 % over the forecast period. Whereas the fiberglass (glass fiber) market growth rate in MEA and APAC excluding China & Japan is expected to remain relatively lower as compared to the global Fiberglass (Glass Fiber) Market average between 2018 and 2028.

Key Players Dominating the Global Fiberglass (Glass Fiber) Market

Some of the players identified in the global fiberglass (glass fiber) market are Owens Corning, PFG Fiber Glass Corporation, CPIC Abahsain Fiberglass M.E., W.L.L., Chongqing Polycomp International Corp, and Jushi Group Co., Ltd. among others. Over the recent past, the industry players have focused acquisitions.

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