Fiberglass Market (2023 to 2032) – Growing Trend of Products across the World

The global fiberglass market was USD 14.7 billion in 2022 and is forecasted to reach USD 22.8 billion by 2032, with an expected revenue Compound Annual Growth Rate (CAGR) of 5% during the forecast period. The building industry stands as one of the primary markets for fiberglass products, which encompass pipes, gratings, insulation materials, and reinforced plastic panels. The growth in revenue of the fiberglass market is anticipated to be propelled by the expanding construction sector, given that these products offer enhanced strength, durability, and resilience to adverse weather conditions.

Fiberglass reinforced plastic panels, renowned for their lightweight nature, easy installation, and low maintenance requirements, find widespread applications in building facades, roofing, and cladding. Additionally, fiberglass insulation products are utilized in residential and commercial structures to improve energy efficiency and reduce energy costs.

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The automotive sector serves as another significant end-use market for fiberglass products, where they are employed to manufacture lightweight, high-strength components like body panels, fenders, hoods, and bumpers. Stringent regulations on carbon emissions and fuel efficiency have generated a heightened demand for lightweight vehicles. Fiberglass composites, with their excellent strength-to-weight ratio, resistance to corrosion, and design versatility, provide a compelling alternative to traditional metals and plastics in meeting these demands.

Strategic Development:

  • In 2021, PPG Industries Inc. finalized a deal to buy Tikkurila, a prestigious Nordic paint and coatings business. PPG’s presence in the Nordic region is anticipated to grow as a result of the acquisition, as are its product options in the worldwide paint and coatings market.
  • Owens Corning purchased Aslan FRP, a renowned producer of cutting-edge composite products, in 2020. The acquisition aims to boost Owens Corning’s position as a top supplier of composite solutions and increase its product portfolio in the fiberglass reinforced plastics (FRP) sector.
  • In 2020, Johns Manville introduced the Microlite XG, a new line of high-performance insulation solutions that combine cutting-edge fiberglass technology to deliver greater thermal insulation, fire resistance, and acoustic performance in commercial and residential structures.

Competitive Landscape:

  • Owens Corning
  • PPG Industries Inc.
  • Saint-Gobain Vetrotex
  • China Jushi Co. Ltd.
  • Nippon Electric Glass Co. Ltd.
  • Taishan Fiberglass Inc.
  • Chongqing Polycomp International Corp.
  • Johns Manville
  • AGY Holding Corp.
  • Braj Binani Group

Market Segmentation

By Product Type Outlook
  • Glass Wool
  • Direct Drawn Fiberglass
  • S-Glass
  • Others
By End-Use Outlook
  • Construction
  • Automotive & Aerospace
  • Electrical & Electronics
  • Others

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Moreover, the report provides insight into how the Fiberglass market will develop between 2023 and 2032. Companies operating in the Fiberglass market can benefit from the in-depth dynamics presented in the report, thereby making strategic development decisions that will help them succeed. During the forecast period, the Fiberglass market is expected to undergo significant changes that will highly configure its growth.

Furthermore, the report highlights the growth prospects of the Fiberglass market and estimates market progress in terms of value (USD million) and volume (thousand units).

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Key Questions Answered in This report on the Fiberglass Market

The report provides detailed information about the Fiberglass market on the basis of comprehensive research on various factors that play a key role in accelerating the growth potential of the market. The information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the Fiberglass market, so as to help them formulate successful strategies and take target-driven decisions.

  • How are key market players successfully earning revenue from the advantages of the product?
  • What will be the Y-o-Y growth of the Fiberglass market between 2023 and 2032?
  • What are the winning imperatives of market frontrunners in the Fiberglass market?
  • Which end-user is expected to undertake maximum adoption of the product during the forecast period?

Research Methodology: Fiberglass Market

The research methodology adopted by analysts to compile the Fiberglass market report is based on detailed primary as well as secondary research. With the help of in-depth insights of industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the Fiberglass market.

During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through interviews with genuine resources, analysts have emphasized the changing scenario of the Fiberglass market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, import and export data of major countries around the world, industrial production index, industry association publications, and company websites to obtain the necessary understanding of the Fiberglass market.

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