Global $23.9B Fiberglass Market by Glass Type, Resin Type, Product Type, Application and Region - Forecast to 2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 3, 2020--
The “Fiberglass Market by Glass Type (E-Glass, ECR-Glass, H-Glass, AR-Glass, S-Glass), Resin Type, Product Type (Glass Wool, Direct and Assembled Roving, Yarn, Chopped Strand), Application (Composites, Insulation), and Region - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The fiberglass market is projected to grow from USD 17.1 billion in 2019 to USD 23.9 billion by 2024, at a CAGR of 7% from 2019 to 2024. The growth of the construction industry is driving the fiberglass market.
The leading fiberglass manufacturers include China Jushi Co., Ltd. (China), Owens Corning (US), Nippon Electric Glass Co., Ltd. (Japan), Taishan Fiberglass Inc. (CTG) (China), Chongqing Polycomp International Corp. (CPIC), (China), and Johns Manville Corp. (US). These players are adopting the strategies of new product lunches, expansions, and agreements to maintain their competitive position in the fiberglass market.
The glass wool fiberglass segment is projected to lead the fiberglass market in terms of both value and volume from 2019 to 2024
Based on product type, the glass wool fiberglass segment accounted for the largest share of the fiberglass market in 2018. This segment is projected to lead the market in terms of both value and volume during the forecast period. The growth of this segment can be attributed to increased usage in the construction & infrastructure end-use.
The composites application segment is projected to lead the fiberglass market in terms of both, value and volume during the forecast period
Based on application, the composites application segment led the fiberglass market in 2018 in terms of both value and volume. The high growth of the construction and automotive industries in Asia Pacific and North America is driving this segment.
The E-glass segment is projected to lead the fiberglass market in terms of both value and volume from 2019 to 2024
Based on glass type, the E-glass segment accounted for the largest share of the fiberglass market in 2018. This segment is projected to lead the market in terms of both value and volume during the forecast period. The growth of this segment can be attributed to its wide-ranging applications and corrosion-resistance and lightweight properties.
The thermoset resins application segment is projected to lead the fiberglass market in terms of both value and volume during the forecast period
Based on resin type, the thermoset resins segment led the fiberglass market in 2018 in terms of both value and volume. Properties such as excellent resistance to solvents, abrasives, high temperature, and heat, flexibility, excellent adhesion, and high strength, as well as the availability of thermoset resins in various types make it preferable for use across applications.
Asia Pacific is projected to lead the fiberglass market during the forecast period, in terms of both, value and volume
The Asia Pacific region is projected to lead the fiberglass market from 2019 to 2024 in terms of both, value and volume. The demand for fiberglass is increasing in Asia Pacific, owing to the growth of construction and automotive industries in the region.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Fiberglass Market
4.2 Fiberglass Market, By Product Type
4.3 Fiberglass Market, By Application
4.4 Fiberglass Market, By Region
4.5 Asia Pacific Fiberglass Market, By Country & Product Type
5 Market Overview
5.3 Market Dynamics
188.8.131.52 Extensive Use of Fiberglass in the Construction Industry
184.108.40.206 Increased Use of Fiberglass Composites in the Automotive Industry
220.127.116.11 Issues in Recycling Glass Wool
18.104.22.168 Increasing Number of Wind Turbine Installations
22.214.171.124 Capital-Intensive Production and Complex Manufacturing Process, of Fiberglass
6 Industry Trends
6.2 Porter’s Five Forces Analysis
6.2.1 Bargaining Power of Suppliers
6.2.2 Threat of New Entrants
6.2.3 Threat of Substitutes
6.2.4 Bargaining Power of Buyers
6.2.5 Rivalry Among Existing Competitors
7 Fiberglass Market, By Glass Type
8 Fiberglass Market, By Resin Type
8.2 Thermoset Resins
8.2.4 Vinyl Ester
8.3 Thermoplastic Resins
9 Fiberglass Market, By Product Type
9.2 Glass Wool
9.2.1 Glass Wool is Used as A Thermal Insulator in Residential Walls and Ceilings to Reduce Power Consumption
9.3 Direct and Assembled Roving
9.3.1 High Demand From the Construction, Infrastructure, and Wind Energy Sectors is Expected to Drive the Growth of the Direct and Assembled Roving Segment
9.4.1 The Rising Demand for Yarns From the Electronics and Construction Sectors is Expected to Drive the Growth Of, the Yarn Segment
9.5 Chopped Strand
9.5.1 The Rise in Automobile Production in Asia Pacific and Europe is Contributing to the Growing Demand for Chopped Strands
10 Fiberglass Market, By Application
10.2.1 Construction & Infrastructure
10.2.1.1 Lightweight, High Tensile Strength, and High Strength to Weight Ratio Properties Makes Fiberglass Composites Preferable in Construction and Infrastructure Applications
10.2.2.1 Weight Reduction, Increased Processing Speed, and Low Voc Emissions From Vehicles Encourages Adoption of Fiberglass in Automotive Applications
10.2.3 Wind Energy
10.2.3.1 High Tensile Strength of Fiberglass Composites is Driving Its Demand for Wind Turbine Blades Manufacturing
10.2.3.2 Trends in Wind Energy Industry
10.2.4.1 High Thermal Resistance and Electrical Conductivity Properties of Fiberglass Increases Its Adoption in Electronics Application
10.2.5.1 S-Glass and E-Glass are the Most Widely Used Glass Types in Aerospace Applications
10.3.1 Residential Construction
10.3.1.1 The Residential Construction Segment Led Fiberglass Insulation Market in 2018
10.3.2 Non-Residential Construction
10.3.2.1 The Non-Residential Construction Segment Accounted for the Second-Largest Share of the Fiberglass Insulation Market in 2018
10.3.3.1 High Demand for Glass Wool Fiber to Manufacture Industrial Pipes, Power Plant Boilers, and Smoke Flues is Driving the Industrial Insulation Application Segment
11 Fiberglass Market, By Region
11.2 Asia Pacific
11.4 North America
11.5 Middle East & Africa
11.6 South America
12 Competitive Landscape
12.2 Competitive Landscape Mapping, 2019
12.2.1 Visionary Leaders
12.2.3 Dynamic Differentiators
12.2.4 Emerging Companies
12.3 Strength of Product Portfolio
12.4 Business Strategy Excellence
12.5 Market Ranking of Key Players
12.6 Competitive Scenario
12.6.2 New Product Launches
12.6.6 New Product Developments
13 Company Profiles
13.1 China Jushi Co., LTD.
13.2 Owens Corning
13.3 Nippon Electric Glass Co., LTD.
13.4 Taishan Fiberglass Inc. (CTG)
13.5 Chongqing Polycomp International Corp. (CPIC)
13.6 Binani 3b-The Fibreglass Company
13.7 Taiwan Glass Ind. Corp.
13.8 Johns Manville Corp.
13.9 PFG Fiber Glass (Kunshan) Co., LTD.
13.10 Asahi Fiberglass Co., LTD.
13.11 Knauf Insulation
13.12 Saint-Gobain Vetrotex
13.13 Certainteed Corporation
13.14 Saint-Gobain Adfors
13.15 AGY Holding Corp.
13.16 Other Companies
13.16.1 Saint-Gobain Isover
13.16.2 Soda Sanayii As
13.16.3 Saertex GmbH & Co.KG
13.16.4 Nitto Boseki Co., LTD.
13.16.5 KCC Corporation
13.16.6 Jiangsu Changhai Composite Materials Co., LTD.
13.16.7 Fiberex Corporation
13.16.8 Bgf Industries, Inc.
13.16.9 Arabian Fiberglass Insulation Co., LTD. (AFICO)
For more information about this report visit https://www.researchandmarkets.com/r/z84ym3
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PUB: 01/03/2020 12:03 PM/DISC: 01/03/2020 12:03 PM