Fiberglass Market Size is projected to reach USD 18,648.7 million by the year 2027- OJB FRP

The study conducted by OJB FRP anticipates a significant increase in the revenue of the global fiberglass market, to USD 13,443.7 million in 2021 and USD 18,648.7 Million by 2027. The market is predicted to grow at a rate of 5.6 percent over the period between 2022 and 2027. The glass fiber can be arranged randomly or flattened to form sheets (called chop strand mat) or spun into fabrics. The matrix of plastic could be a thermosetting material, usually epoxy or polyester resin, also known as vinyl ester or thermoplastic. Furthermore, it is a light material that can be moulded to the desired shape in the factory, resulting in significant energy savings in transportation to its final destination and then having it put in. Additionally, composite materials made of fiberglass are extensively used as replacements for steel and aluminum for automotive manufacturing. They are utilized to make lightweight automobiles. However, it is not without its flaws, including its high density and the difficulty of converting to manufacture, so researchers and scientists have been working to create a bio-composite.

Based on this kind, the E-glass fiber segment is the most popular in the world fiberglass market in 2021 because it is extremely in sync with organic dyes, and it has the ability to maintain dimensional stability. In contrast, the ECR glass fiber is predicted to show the highest CAGR within the world market for fiberglass. Based on the form segment and strand mat, the chopped segment is projected to have the highest CAGR over time due to its numerous end-use applications. Additionally, the manufacturing of continuous filament is expected to have the biggest share and also have the most CAGR in the global fiberglass market during the forecast period because of its high thermal conductivity, low density, and strong. In addition, when it comes to resin, the polyester segment has the most market share in 2021 due to their being naturally UV-resistant, easy to work with, quick to cure, and temperature and catalyst resistant, and are less costly in comparison to the epoxy system. In addition, the epoxy segment is projected to expand at the highest rate of CAGR over this forecast time. Additionally in terms of industry segments construction industry is anticipated to gain the most market share during this time frame since the construction industries are the most frequent use glass fiber for various uses. Additionally, aerospace and aircraft are projected to grow with the fastest CAGR over the forecast time. In addition, the region, Asia Pacific is the leading region for the fiberglass market by 2021.

Market Dynamics and Trends

Drivers

The growing the use of fiberglass composites in the automotive and construction industry, the increased demand for composite components, and strict regulations for emission control favour fiberglass over other materials . This will expand the market for global fiberglass in the forecast time. Fiberglass has a superior strength-to-weight ratio, which is a crucial element in the automotive and construction. The growing use of fiber glass to advance the field of automotive and construction will have a significant impact on the entire manufacturing in the field of fibre glass. Additionally, companies prefer to select fiberglass as a key element of manufacturing because it is an efficient material for insulation, and is primarily due to its resistance to corrosion which allows to withstand extreme temperatures and extreme conditions. Additionally, the strict regulations used to control emissions in both developed and developing countries create an ideal space for the fiber glass market.

Restraints

The insanity of pricing for raw materials and the improper disposal practices to recycle glass wool is an obstacle to the development of the market over the forecast time. Supply chain disruptions as well as fluctuation in raw materials affect the production of glass fiber in the current situation. Additionally, the low recycling rate of glass wool leads to greater waste creation and impacts the our environment in numerous ways. The rising demand for recycling is likely to have an enormous impact in the coming years by the development of a brand new method.

Fiberglass Market Country-specific insights

• North America Fiberglass Market-

US has the highest share in terms of revenues in the North America Fiberglass Market in 2021, due to the wide use of fiberglass in construction insulation. Furthermore, rising sales of cars within the region also drive the market. While, Canada is projected to increase at the highest rate of CAGR in the forecast timeframe.

• Europe Market for Fiberglass

Russia is predicted to show the most CAGR for the Europe fiberglass market over the time. In contrast, Germany held the major portion of the Europe market in 2021, due its presence among major manufacturers in the market.

• Asia Pacific Fiberglass Market-

China is the largest share-holder region within the Asia Pacific fiberglass market in 2021. In contrast, India is expected to be the most lucrative CAGR in the forecast timeframe due to the established automotive manufacturing industry that is prevalent in this region. In addition, according to the construction industry, it accounted for most of Asia Pacific market. Electric devices in Asia Pacific are growing at the fastest rate during the forecast time frame as fiberglass is utilized for printed circuit boards to make sure that they have the electrical resistance to corrosion thermal conductivity, dimension stability and dielectric characteristics.

• Middle East & Africa Fiberglass Market-

Saudi Arabia is the highest share-holder region in 2021, and it is expected to expand at the highest rate of CAGR in the forecast. Additionally, based on segment, the tow accounted for to the largest share of the MEA fiberglass market. While the chopped strand mat is predicted to increase at the highest CAGR in the forecast due to its numerous uses at the end of the line, which include automotive components ships and boats, cooling towers and bathroom equipment and other.

• South America Fiberglass Market-

Argentina is expected to expand by the fastest CAGR of the South America fiberglass market over the next few years. In contrast, Brazil held the major market share in 2021. Based on type, A-glass fiber is the most dominant type in the market . ECR glass fibers are expected to expand at the fastest CAGR in the forecast period since they are being increasingly utilized in applications that require outstanding chemical resistance, as well as excellent mechanical properties.

The Report's Attribute	Information
market size value 2021	US$1,443.7 Million. 13,443.7 Million
The Market Outlook 2027	US$1,648.7 Million. 18,648.7 Million
CAGR Expected Growth	5.6 percent from 2022 until 2027
Basis Year	2021
Time for Forecast	2022-2027
the Top Market Participants	Jhusi, Owens Corning, Taishan Fabric Glass, Chongqing Polycomp, and Nippon in addition to others.
Segments that are covered	By Type, by Form, by Manufacturing Process, Through Resin, by Industry By Region
Geographies that are covered	North America, Europe, Asia Pacific, Middle East & Africa, South America

Competitive Perspective

Global Fiberglass Market is highly competitive, which helps to expand their market share. The major players in the global market for fiberglass are Jhusi, Owens Corning, Taishan Fabric Glass, Chongqing Polycomp and Nippon as well as others.

Segmentation Overview

Global Fiberglass Market is segmented by type, form manufacturing process industries, and regions. The trends of the global market for fiberglass are subdivided into distinct categories to give an overview of the global market.

Here are the different sections of the Global Fiberglass Market:

• By type segment in the Global Fiberglass Market is sub-segmented into:
• A- Glass Fiber
• C- Glass Fiber
• D- glass fiber
• E- Glass Fiber
• Advantex Glass Fiber
• ECR Glass Fiber
• AR Glass Fiber
• RG Fiber: Glass
• S2 Glass Fiber
• M- Glass Fiber
• Z- Glass Fiber
• The By-Form segment within the Global Fiberglass Market is sub-segmented into:
• Tow
• Veil mats
• Woven fabric
• Chopped Strand mat
• Tape
• Rope
• Cloth
• Other
• By Manufacturing Process segment of the Global Fiberglass Market is sub-segmented into:
• Continuous Filament
• Staple Filament
• By Resin segment of the Global Fiberglass Market is sub-segmented into:
• Polyester
• Vinyl esters
• Epoxy
• Polyurethanes
• Other
• By Industries sector of the Global Fiberglass Market is sub-segmented into:
• Aircraft and Aerospace
• Construction Industry
• Consumer Goods
• Equipment to resist corrosion
• Electrical devices
• Marine Industry
• Automobile Industry
• By Region section from the Global Fiberglass Market is sub-segmented into:
  • The U.S.
  • Canada
  • Mexico
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Poland
  • Russia
  • Rest of Europe
  • China
  • India
  • Japan
  • ASEAN
  • Australia and New Zealand
  • The rest of Asia Pacific
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
  • Argentina
  • Brazil
  • The rest of Latin America
• North America
• Europe
• Asia Pacific
• Middle East & Africa (MEA)
• South America

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OJB FRP is an FRP/GRP Product Manufacturer in Delhi, India. It manufactures high-quality Tank for water and chemical storage, FRP Automotive Products, FRP Decorative Products, and Other on-site FRP Jobs.

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