Global FiberglassMarket is anticipated to reach USD 21.27 billion by 2025. Fiberglass implies fiber-reinforced plastic where reinforcement fiber is mainly glass fiber. It is developed by pouring molten glass via superfine holes. The factors that drive the growth of the fiberglass industry include an increasing number of wind turbine installations, use of fiberglass composites by the automotive industry for enhanced performance, and extensive use of fiberglass in the construction industry. On the other hand, there are factors that may hamper the growth of the market including high manufacture cost of fiberglass. Fiberglass Market is anticipated to grow at a significant CAGR of 5.9% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
The
market may be explored by type, application, end user, and geography. The key
applications that could be explored in the market include Composites, and
Insulation. The “Composites” segment led the Fiberglass industry in 2016 and is
anticipated to maintain its dominance by 2025. The market could be explored
based on Type as Yarn, Glass Wool, Chopped Strands, and Roving. The “Wool”
segment led the Fiberglass Market in 2016 and is anticipated to maintain its
dominance by 2025 owing to increasing use of glass wool in construction sector
for insulation. The rising construction expenditure in emerging countries is an
important factor expected to drive the demand for glass wool in the forecast
period. “Wool” segment is followed by “Chopped” segment.
Fiberglass
industry may be analyzed by end user as Building and Construction, Automobiles,
Wind Energy, and Aerospace. The “Automotive” segment led the market in 2016 and
is anticipated to maintain its dominance by 2025 due to the fact that
fiberglass is mainly used in manufacturing of automobile parts such as body
panels, decks, load floors, wheelhouse assemblies, dash panel assemblies,
battery boxes, and front fascia.
Request Sample Copy of This Market Research @
https://www.millioninsights.com/industry-reports/fiberglass-market-size/request-sample
Asia-Pacific
accounted for the major share of the Fiberglass Market and will continue to
lead in the forecast period. The increasing disposable revenue in Asia Pacific
is expected to propel the regional market over the forthcoming period.
Furthermore, the rising automobile and construction segments in the region,
particularly in India and China is estimated to drive the market.
Some
of the key players that fuel the growth of the Fiberglass industry comprise
Jushi Group Co. Ltd., Corning, Taishan Fiberglass Inc., Zibo Zhuoyi Fiberglass
Material Co. Ltd., Chongqing Polycomp International Corp., Johns Manville,
Shandong Fiberglass Group Co. Ltd., XingtaiJinniu Fiberglass Co. Ltd., CPIC
Abahsain Fiberglass M.E., W.L.L., and Glasstex Fiberglass Materials Corp. The
leading companies are taking up mergers, and acquisitions, partnerships, and
joint ventures in order to boost the inorganic growth of the industry.
Browse Full Research Report @
https://www.millioninsights.com/industry-reports/fiberglass-market-size
Market Segment:
Application
Outlook (Volume, Kilotons; Revenue, USD Billion; 2014 - 2025)
• Insulation
• Composites
Type
Outlook (Volume, Kilotons; Revenue, USD Billion; 2014 - 2025)
• Glass Wool
• Yarn
• Roving
• Chopped Strands
End-use
Outlook (Volume, Kilotons; Revenue, USD Billion; 2014 - 2025)
• Automobiles
• Building and Construction
• Aerospace
• Wind Energy
Regional
Outlook (Volume, Kilotons; Revenue, USD Billion; 2014 - 2025)
• North America
• U.S.
• Europe
• Germany
• UK
• France
• Asia Pacific
• China
• Japan
• India
• South Korea
• Central & South America
• Middle East & Africa
Read more insights on @
https://latestmarkettrends.news.blog
Get in touch
At Million Insights, we work with the aim to reach the highest levels
of customer satisfaction. Our representatives strive to understand diverse
client requirements and cater to the same with the most innovative and
functional solutions.
Contact Person:
Ryan Manuel
Research Support Specialist, USA
Email: ryan@millioninsights.com
Comments
Post a Comment