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Global Fibreglass Market Insight2022-02-10 Comments
The Fibreglass is forecast to fast increase over the next few years.According to the WK-chem Research “Global Fibreglass Professional Survey Report 2022, Forecast to 2027”, Fibreglass or glass fibre is a reinforced plastic material which is composed of a woven material that is embedded with glass fibres which are randomly laid across each other and held together with a binding substance. Fibreglass is combined with resin to form an extremely strong and durable composite. Fibreglass can be supplied flattened into a sheet called a strand mat, or woven into a fabric. Fibreglass is a lightweight material that is used in a number of applications and industries. It is less costly than carbon fibre composites and is flexible to allow its use in a vast number of industries. It is a strong material and is resistant to corrosion & UV damage.The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 4.5 % base on WK-chem Research regression analysis model.
“The outbreak and the spread of the COVID-19 led to major disruptions across end-use industries such as, automotive, aerospace, and construction & infrastructure, thereby resulting in reduced demand for fiberglass products. Therefore, for the sustainable development of the fiberglass industry , it has become increasingly important to develop appropriate recycling technologies for glass wool and other composite materials.” Said Lisa , Senior analyst, Chemical industry Market Research Center in WK-chem Research.
Fiberglass has a higher strength-to-weight ratio, which is an important factor in automobile manufacturing. Vehicles built using materials with low weight and high strength deliver higher mileage and enhance fuel efficiency. Stringent regulations have been imposed on the automotive industry to reduce carbon carbon dioxide emissions. This has encouraged the industry to introduce fuel-efficient lightweight vehicles to help reduce greenhouse gas emissions. Fiberglass composite is extensively used as a substitute for aluminum and steel in the automotive industry, in the manufacturing of lightweight vehicles. The material is mainly used in the construction industry. Its fire resistance, corrosion resistance, light weight and high strength are widely used in building materials. It is commonly used in the construction industry for non-structural components such as pipes, façade panels and channels. Hence, the usage of this product in the construction industry is growing, driving the market de mand over the forecast period.
The major restraint to the growth of the fiberglass market is the recycling of glass wool. Proper disposable techniques are required to dispose of glass wool material, along with the mask and protective clothing for the physical safety of the personnel involved in the disposal process. Further , GFRP is widely accepted due to its properties. Due to the thermoset nature of the polymer parts, they are neither meltable nor soluble, preventing direct remelting or remolding. In addition to glass and polymer matrices, these fabrics often contain large amounts of inorganic fillers, so they are widely regarded as difficult to recycle, and GFRP then often ends up in landfills or banning furnaces, adversely affecting the environment.
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Fibreglass companies that include China Jushi Co., Ltd., Owens Corning, Nippon Electric Glass Co., Ltd., Taishan Fiberglass Inc. (CTG), Chongqing Polycomp International Corp., Johns Manville Corp., Binani 3B-the Fibreglass Company, Taiwan Glass Ind. Corp., PFG Fiber Glass (Kunshan) Co., Ltd., Asahi Fiberglass Co., Ltd., Knauf Insulation, Saint-Gobain Vetrotex, CertainTeed Corporation, Saint-Gobain ADFORS, AGY Holding Corp.
Segmentation of Fibreglass Market:
On the basis of glass type, the market is segmented into electronic glass and specialty glass. The E-glass segment holds the major fiberglass market share and is likely to maintain this trend over the forecast period. Products made of electronic glass are particularly resistant to abrasion and vibration, and have excellent flexibility. The cloth is a plastic material widely used in marine, industrial and aerospace applications and is lightweight woven. Sunglass fabric is considered the line standard and offers a balance of excellent value for money. Growing use of environmentally friendly boron-free fibers is expected to drive the market over the forecast period. Based on product, the market is segmented into glass wool, yarn, roving, chopped strand, and others. The glass wool segment holds a major share of the market. As a thermal insulation and sound insulation material in Zainai, glass wool is used separately. Most commonly, they are applied to dry-pitched roofs, floors or interior walls. Glass wool is mostly found inside homes because it loses its insulating value quickly when it comes into contact with moisture. On the basis of application, the market is segmented into transportation, construction and automotive, electrical and electronics, plumbing and tanks, consumer products, wind energy, and others. Construction and automobiles account for the major share. Much of this global production is used in the construction and automotive industries. A key driving force for the market growth is expected to be the increase in construction activities in emerging economies and the increase in the use of insulating materials in the unit construction industry. Furthermore, increasing demand for light aircraft and automobiles is expected to further increase product demand over the forecast period. In the automotive, aerospace and marine sectors, the trend towards replacing heavier metal components with lighter fiberglass is expected to create substantial growth opportunities for the market.
Fibreglass Market: Regional Analysis
In terms of geography, the Global Fibreglass Market is classified into Asia Pacific, North America, Europe, Middle East & Africa, and South America. Asia Pacific is projected to be the fastest-growing market for fiberglass during the forecast period. Growing demand for fiberglass is primarily driven by the increasing focus on emission control policies and the growing demand for ecofriendly products have led to technological advancements in the field of composites. The replacement of traditional materials, such as steel and aluminum, with fiberglass is contributing to the growth of the fiberglass market in Asia Pacific.
Cagr: 4.5 %
Largest share area：Asia Pacific
Largest share country：China
Product Type(by Glass)：Electronic Glass, Specialty Glass
Product Type(by Product)：Glass Wool, Yarn, Roving, Chopped Strand, Others
Application：Transportation, Construction and Automotive, Electrical and Electronics, Plumbing and Tanks, Consumer Products, Wind Energy, Others
Leading Company：China Jushi Co., Ltd., Owens Corning, Nippon Electric Glass Co., Ltd., Taishan Fiberglass Inc. (CTG), Chongqing Polycomp International Corp.