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Global Fiber Glass Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

The Global Fiber Glass Market was valued at ~US$ 12 billion in 2017. It is estimated to be ~US$ 15 billion in 2022 and is forecasted to reach a market size of ~US$ 20 billion, growing at a CAGR of ~5% owing to the rising demand from the manufacturing industry.

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Key Growth Drivers

  • The expansion of the construction sector is the main driver for the growth of the fiberglass market. The market is growing due to a notable rise in attention paid to infrastructure and road quality. In the construction industry, fiberglass is used in mesh fabrics that prevent cracks in interior walls, floor covering, wall covering, in self-adhesive drywall tapes, waterproofing frit, and others. There has been a significant rise in modern architecture in recent years, leading to the development of modern materials such as glass fiber.
  • The major challenge faced by the fiberglass market is the negative environmental effects during the production of the material. Fiberglass processing and production require a high volume of energy and resources which generally have an adverse impact on the environment. Fiberglass production generates not just air pollution but also solid and liquid waste. Strict restrictions and standards established by the governments of different countries may impede the growth of the fiberglass industry, influencing the overall market.
  • The market was negatively impacted by the COVID-19 pandemic during the first half of 2020, as most of the end-use industries that use fiberglass were shut down and sales of fiberglass saw a major change of trend during this period. Production halts and supply chain disruptions during the COVID-19 pandemic led to the suspension of several other activities along the value chain of industries, such as automotive, construction, aerospace, and others. However, the market is expected to exhibit significant growth in the forecast period due to surging demand for fiberglass material products in the textile industry.

Key Trends by Market Segment

  • By Glass Type: The E-Glass segment held the largest market share in the global fiber glass market in 2021, due to its qualities such as high flexibility, corrosion, and abrasion resistance.
  • E-glass is produced from the oxides of magnesium, calcium, boron, and aluminum. It is lightweight woven plastic fabric that is frequently utilized in maritime, industrial, and aerospace applications.
  • The S-glass segment is expected to register the highest CAGR during the forecast period, as it has high compressive strength, and high-temperature resistance, as a result, it is widely used in composites and textile industries.

Global Fiber Glass IndustryFor more information, request a free sample

By Product Type: The glass wool segment held the largest market share in the global fiber glass market in 2021, as it is widely used as an indoor thermal and acoustic insulation material.

  • Glass wool is a popular indoor thermal and acoustic insulation material. The product is most typically used beneath pitched roofs, on hardwood floors, or on interior walls.
  • The chopped strands segment is expected to register the highest CAGR during the forecast period, due to its wide usage as a reinforcement material with high performance resin in automotive and electronics industries.

By Application: The composites segment held the largest market share in the global fiber glass market in 2021, due to the rising automotive and construction industries.

  • The fiber glass composite materials help make automotive structures lighter in weight and exhibit high strength. With the rising environmental concerns, there is an increasing demand for lightweight composite materials across numerous industries for reducing carbon footprints.
  • Growing focus on the production of lightweight vehicles is driving the usage of fiberglass composites in the automotive industry.

By Region: Asia Pacificheld the largest market share among all other regions within the global fiber glass market in 2021, due to the growing demand for eco-friendly products that have led to technological advancements to augment the growth of the region.

  • The Asia Pacific is the largest consumer and producer of fiberglass owing to the presence of rapidly growing economies in the region such as China and India. Factors, such as the rising population, are likely to be the major drivers for the market in this region.
  • The rising disposable income coupled with the presence of key players in the Asia Pacific is likely to drive the regional market over the forecast period.

Worldwide Fiber Glass MarketFor more information, request a free sample

Competitive Landscape

The Global Fiber Glass Market is highly competitive with ~150 players, including globally diversified players, regional players, and many country-niche players. Most of the regional players are the developers of Fiber Glass used in various end-user industries.

Country-niche players constitute ~35% of the total number of competitors, while regional players dominate representing ~50% of total competitors. Some of the major players in the market include ASAHI FIBER GLASS Co., Ltd., 3B – the fibreglass company, China Jushi Co., Ltd., Johns Manville, Knauf Insulation, Nippon Electric Glass Co.,Ltd., Owens Corning, Saint-Gobain, xingtai jinniu fb glass, Taiwan Glass Industry Corporation, among others.

Competitors in Fiber Glass MarketFor more information, request a free sample

Recent Developments Related to Major Players and Organizations

In January 2022, Therma-Tru, a renowned name in the door industry, announced the launch of its new sustainability-driven social initiative. Therma-Tru is known for its fiberglass door offerings that are made from 95% recycled content, and these sustainable offerings account for nearly half of its total fiberglass product portfolio.

In November 2021, Taishan Fiberglass Inc. invested US$ 250 million in the establishment of a Greenfield fiber manufacturing plant in Gujarat, India. With this plant, the company served the markets of India and the Middle East.

In July 2021, Owens Corning acquired Vliepa GmbH to broaden its non-woven product catalogue aimed to serve the building and construction sector in the European region.

Conclusion

The Global Fiber Glass Market witnessed a negative impact due to COVID-19 owing to the strict regulations in several countries that temporarily halted all types of processes and shut down all the major industries. E-Glass type is the most common type of fiber glass among other types such as S-glass, ECR-glass, H-glass, and AR-glass. Majorly, the fiber glass is used in composites that can further be utilized in various end-use industries such as automotive, building & construction, aerospace & defense, marine, sports & leisure, pipe & tank, and others. Though the market is competitive with over ~150 participants, regional players control the dominant share in the market and country-niche players also hold a significant share.

Note: This is an On-Demand/Planned report, so the figures quoted here for market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and report delivered within a maximum of 2 working weeks.

Ken Research has recently published report titled, Global Fiber Glass Market Size, Segments, Outlook, and Revenue Forecast 2022-2028. In addition, the report also covers the market size for each of the four regions’ Fiber Glass market. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

Glass Type
  • E-Glass
  • ECR-Glass
  • H-Glass
  • AR-Glass
  • S-Glass
Product Type
  • Glass Wool
  • Yarn
  • Roving
  • Chopped Strands
  • Others
Application
  • Composites
  • Insulation
End-User
  • Automotive
  • Building & Construction
  • Aerospace& Defense
  • Marine
  • Sports & Leisure
  • Pipe & Tank
  • Others
Region
  • North America (USA, Canada, Mexico)
  • Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
  • Asia Pacific (China, Japan, South Korea, India, Indonesia, Australia, Rest of Asia Pacific)
  • LAMEA (Latin America, Middle East, Africa)
Key Players
  • Asahi Fiber Glass Co., Ltd.
  • 3B – the fibreglass company
  • China Jushi Co., Ltd.
  • Johns Manville
  • Knauf Insulation
  •  Nippon Electric Glass Co.,Ltd.
  • Owens Corning
  • Saint-Gobain
  • xingtai jinniu fb glass
  • Taiwan Glass Industry Corporation

For More Information on the Research Report, refer to below links: –

Global Fiber Glass Market: Ken Research

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