Fiberglass Market: Current Analysis and Forecast (2021-2027)

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Emphasis by Type (S-Glass, E-Glass, A-Glass, D-Glass, E-CR-Glass, and Others); Resin Type (Polyester, Vinyl ester, Epoxy, and Others); Product Type (Woven Roving, Chopped Strand, Fabric and Others); Application (Composites and Insulation); and Region and Country

Detailed Analysis of COVID-19 Impact on the Fiberglass Market

Pages:

202

Table:

76

Figure:

112

Report ID:

UMCH21932

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Report Description

Fiberglass Market
Fiberglass Market

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The Global Fiberglass Market is likely to showcase a growth of around 5% during the forecast period.  Fiberglass is also known as a fiber-reinforced plastic as it is made up using glass fiber reinforced plastic. The glass fibers are rearranged, flattened into a sheet, or woven into a fabric. They can be made of different types of glass according to the use of fiberglass. It is lightweight, durable, strong, and offers high thermal insulation. It has the ability to get molded into various complex shapes. Due to these properties, fiberglass is widely used in bathtubs, boats, aircraft, roofing, automobiles, and windows, among others. As urbanization and industrialization are increasing, there is advancement in technology and an increase in the construction and transportation sector which is increasing the demand for fiberglass due to its industry favourable properties. Moreover, in the automation and robotic industries fiberglass is increasingly used for making robots and fiber-optic cables. For instance, Owens Corning announced its latest advancement: PINK Next Gen Fiberglas insulation. As per the company, the product features advanced fiber technology and enables up to 23% faster installation compared to its existing products.

Insights Presented in the Report

“Amongst type, A-glass has a prominent share in the market in 2020”

Based on type, the market is categorized into S-glass, E-glass, A-glass, D-glass, E-CR-glass, and others. Among these, A-glass has a prominent share in the fiberglass market. It is among the most frequently available type of fiberglass and cost lesser relative to its counterparts. It has maximum usage in the food and beverages industry. It is used for making glass jars, bottles, windowpanes, and others. Further, this type of glass is ideal for recycling.

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“Amongst resin types, the polyester has a considerable share in the fiberglass market”

Based on resin type, the market is categorized into polyester, vinyl ester, epoxy, and others. Among these, polyester has a considerable share in the fiberglass market. This is among the most commonly used resin type as it is easier to use than other resin types. This type of resin has a quick cure and adds dimensional stability. Due to the aforementioned factors, it is used for repairing boats and car bodies, constructing buildings, decorative surfaces, bathtubs, and others.

“Amongst product types, the woven roving has a prominent share in the fiberglass market”

Based on product type, the market is categorized into woven roving, chopped strand, fabric, and others. Among these, woven roving is likely to showcase robust growth in the fiberglass market. It is one of the strongest textile fibers, having greater specific tensile strength than steel wire of the same diameter, at a lower weight. It has warp and weft roving aligned in a parallel, high strength, flexible, and uniform tension. Due to the following properties, it has wide applications in the petrochemicals for making pipes and storage tanks, transportation, and building materials for fence and wave color tiles.

“Amongst applications, the composites are likely to show robust growth during the forecast period”

Based on application, the market is categorized into composites and insulation. Among both, the composites are likely to show robust growth in the fiberglass market during the foreseeable future. It has good mechanical, electrical, and chemical properties and is light in weight; due to this, the demand for composite materials is increasing in several industries. Further, the world is focusing on wind energy generation and bigger blades size and taller turbines are used for stronger production capacity. To make the blades of windmills composites are used in place of metals due to their lightweight. For instance, researchers from the National Renewable Energy Laboratory, supported by both the Lawrence Berkeley National Laboratory and the U.S. Department of Energy, predict that by 2035, wind plant designs will embrace towers even taller than previously thought. The researchers gained this insight by analyzing the opinions of over 140 of the world’s leading experts, who predicted that the hub heights of onshore wind turbines will reach 130 meters by 2035. This is likely to increase the demand for fiberglass.

“Asia-Pacific accounted for a considerable share in the global fiberglass market”

For a better understanding of the market adoption of fiberglass, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, United Kingdom, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific accounted for a significant share in the market and is expected to showcase substantial growth during the forecast period owing to a large and growing base of the end-use industry due to improving consumer spending power, rapid urbanization, and growing demand for better quality products. Moreover, increasing construction works with industrialization in the region would increase the demand for fiberglass as it is used for coating and insulation due to its thermal resistance and durability.

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Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive country-level analysis of the industry


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1.1.Market Definitions
1.2.Limitation
1.3.Stakeholders
1.4.Currency used in Report
2.1.Research Process of the Fiberglass Market
2.2.Research Methodology of the Fiberglass Market
2.3.Forecasting Method 
2.4.Respondent Profile 
2.5.Main Objective of the Fiberglass Market Study
3MARKET SYNOPSIS
4EXECUTIVE SUMMARY
5GLOBAL FIBERGLASS MARKET COVID-19 IMPACT
6GLOBAL FIBERGLASS MARKET REVENUE (USD MN), 2019-2027F
7.1.S-Glass 
7.2.E-Glass 
7.3.A-Glass 
7.4.D-Glass 
7.5.E-CR-Glass
7.6.Others   
8.1.Polyester 
8.2.Vinyl ester
8.3.Epoxy 
8.4.Others 
9.1.Woven Roving
9.2.Chopped Strand
9.3.Fabric 
9.4.Others 
10.1.Composites
10.2.Insulation 
11.1.North America Fiberglass Market 
 11.1.1.United States
 11.1.2.Canada 
 11.1.3.Rest of North America
11.2.Europe Fiberglass Market 
 11.2.1.Germany 
 11.2.2.France 
 11.2.3.United Kingdom
 11.2.4.Italy 
 11.2.5.Spain 
 11.2.6.Rest of Europe
11.3.Asia Pacific Fiberglass Market
 11.3.1.China 
 11.3.2.Japan 
 11.3.3.India 
 11.3.4.Australia 
 11.3.5.Rest of Asia Pacific
11.4.Rest of World Fiberglass Market 
12.1.Market Drivers
12.2.Market Challenges
12.3.Impact Analysis
13FIBERGLASS MARKET OPPORTUNITIES
14FIBERGLASS MARKET TRENDS
15LEGAL & REGULATORY FRAMEWORK
16.1.Demand Side Analysis
16.2.Supply Side Analysis
17VALUE CHAIN ANALYSIS
18.1.Porters Fiver Forces Analysis
19.1.Owens Corning 
19.2.China Jushi Co. Ltd. 
19.3.PPG Industries, Inc.
19.4.BKP Berolina Polyester GmbH & Co. KG
19.5.Compagnie de Saint-Gobain S.A.
19.6.Taiwan Glass Industry Corporation
19.7.Xingtai Jinniu Fiberglass Co. Ltd.
19.8.Taishan Fiberglass Inc.
19.9.Asahi Fiber Glass Co., Ltd.
19.10.AGY Holding Corp.
20DISCLAIMER

Research Methodology

Analyzing the historical market, estimating the current market, and forecasting the future market of fiberglass, three major steps are undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the fiberglass industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of fiberglass through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the fiberglass market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. The major segment is included in the report by type, resin type, product type, and application. Further regional and country-level analyses were conducted to evaluate the overall adoption of fiberglass globally.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of fiberglass. Further, we conducted factor analysis using dependent and independent variables such as growing construction activities, lightweight automobiles & aircraft, among others. A thorough analysis was conducted for demand and supply-side scenarios considering an increasing investment, top partnerships, mergers and acquisitions, business expansion, and product launches in the fiberglass industry.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global fiberglass market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of fiberglass across the major markets
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the fiberglass market. Also, the growth strategies adopted by these players to compete in the fast-growing market


Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants by Stakeholders and Regions

Fiberglass Market
Fiberglass Market

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Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global fiberglass market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of type, resin type, product type, and application

The main objective of the fiberglass market study

The current & future market trends of global fiberglass were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of fiberglass in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include the area of type, resin type, product type, and application
  • Defined analysis of the regulatory framework for the fiberglass industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of fiberglass for the major countries
  • Major regions/countries analyzed in the report include North America (United States, Canada, Rest of North America), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World
  • Company profiles of the fiberglass market players and the growth strategies adopted by them to sustain the growing market

Deep dive country-level analysis of the industry

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