Fiberglass Market Overview:
Fiberglass Market is expected to witness a significant growth of USD $ 20.32 Billion Dollar by 2023 with CAGR of 9.2% between by 2023.
Fiberglass Market is mainly running because of increasing consumption in end user industry such as automotive, aerospace, and electrical industry in various developed regions. In addition, rising consumption of fiberglass composites and insulation has been perceived in Asia Pacific region due to increasing in various end user industrial application such as in construction, automotive, and others. The major driver of fiberglass market is rising demand of composite fiberglass in various end user industry such as automotive and aerospace. On the other hand unstable prices of raw materials is major restraining factor of the fiberglass market which can restrain the growth of global fiberglass market.
Fiberglass Market is growing mainly due to its varied applications in bourgeoning automotive industry. According to a recent study report published by the Market Research Future, the global market of Fiberglass is growing with the rapid pace and expected to gain prominence over the forecast period.
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Fiberglass Market Application:
Fiberglass’s application in insulation is providing added impetus to its market growth. The segment Fiberglass insulation has impressive growth in construction activity, increasing demand for higher thermal efficiency, lightweight, strength, durability, and eco-friendly insulation products. The increasing awareness of energy saving is also driving the demand of fiberglass insulation market, eventually, fostering the market growth of Fiberglass.
Fiberglass is used in a varied range of industrial applications and is the most easily available and cheapest composite fabric. Fiberglass has found in various end use industry such as aerospace, automotive, construction, electrical, pharmaceutical, industrial, and others. The growing automotive and electrical industry on account of developing domestic as well as commercial market particularly in Asia-Pacific and North America has boosted the global fiberglass market over the forecasted period. On the other hand, environment & health related issues and unstable prices of raw materials are major restraining factors of the fiberglass market which can hamper the growth of global fiberglass market.
Fibreglass products for use in the latest weaponry systems. Fibreglass materials are being widely used in the defence manufacturing industry to cut down the use of structures made from metals and improve the manoeuvrability of aircraft, agility of the fired missile besides reducing their body weight. The wings for the aircraft are totally being made out of fibreglass structures. And further researches are transpired for having the entire fuselage made out of them. Once this is achieved this, defence sectors would turn its focus further in manufacturing of the secondary (internal) structures in the aircrafts.
Fiberglass has found its extensive application in Aerospace market. Many critical products used in the aerospace are made of fiberglass where strength, dimensional stability, corrosion resistance, weight and cost performance are the matter of concerns. Both E Glass and S Glass fibers offer unique reinforcement properties, including a balance of strength, fiber toughness, tensile and compressive modulus and impact resistance that are critical in these high performance aerospace applications. Fiberglass reinforcements perform well across a wide variety of resin systems that are used in the aerospace market.
Fiberglass Market Key Players:
Fiberglass Market are: Jushi Group Co. Ltd (China), AGY Holding Corp. (U.S.), Saint-Gobain Vetrotex (Europe), PPG Industries Inc. (US), Owens Corning (US), Taiwan Glass Industry Corporation (Taiwan), Taishan Fiberglass Inc (China), PFG FIBER GLASS CORPORATION (Taiwan), Fiber Glass Industries Inc (US), W. L. Gore & Associates, Inc (US), and Others.
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Fiberglass Market Regional Analysis:
Presently, Asia Pacific region is the major market of fiberglass due to demand in various applications such as automotive and electrical industry especially in China, India followed by Japan. Whereas, increasing demand in construction industry in developing countries such as India, Indonesia, and Thailand made Asia Pacific largest consumer of the global fiberglass market followed by increasing in the consumption of Fiberglass market in North America region. Furthermore, Europe region hold third position for the global fiberglass market due to large consumption in pharmaceutical, construction, and electrical industry. In addition, Latin America and Middle East also witnessed in growth of fiberglass market due to various end user industry such as aerospace, automotive, construction, electrical, pharmaceutical, industrial, and others.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of key vendors.
Fiberglass Market Competitive Analysis:
Fiberglass Market is well-established. Matured players with the presence in the international and regional market; illustrate the market as highly competitive yet consolidated. Those players compete based on innovation, product features, quality, cost, and financial stability. To maintain their market position and to drive the market growth, these players are focusing upon developing their product portfolio with the help of advance technologies. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players. Major players are investing on internal R&D and, most of all, in acquiring other firms. Prominent vendors of Fiberglass are targeting to invest more in technology and research and development activities to innovate their already existing products. These vendors strive to deliver First Quality product that manufactured to the highest standards. They manage their business by laying emphasis on innovation, productivity, safety, performance, and results.
Fiberglass Market Segmentation:
Fiberglass Market is majorly segmented on the basis of types, end users and region. Based on types of fiberglass the market is segmented into A-glass, C-glass, D-glass, E-glass, R-glass, S-glass, and others (AR-glass, ECR-glass, etc.). By application, global fiberglass market is segmented into composites and insulation. Based on end user the market segmented into aerospace, automotive, construction, electrical, pharmaceutical, industrial, and others(wind energy, petrochemicals, etc.) and based on region market is segmented into North America, Europe, APAC, Latin America, Middle East & Africa.
Fiberglass Market Information - by Types (A-glass, C-glass, D-glass, E-glass, R-glass, S-glass), by Application (Composites, Insulations), by End User (Aerospace, Automotive, Construction, Electrical, Pharmaceutical, Industrial), and by Region - Forecast till 2023
Fiberglass Market Table of Content:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat of New Entrants
4.1.2 Bargaining Power of Buyers
4.1.3 Threat of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain of Global Fiberglass Market
5 Industry Overview of Global Fiberglass Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
5.5 Impact Analysis
Fiberglass Market Table of Content to be Continue…..,
Complete table of content is available at @ https://www.marketresearchfuture.com/reports/fiberglass-market-3196
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