Latest News- Fiberglass Market: Composites is expected to lead the Application segment during 2024-2028

The Fiberglass Market is being driven by Increase in residential and commercial construction

The Fiberglass Market is expected to grow at a CAGR of 6.59% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 5010.9 million. In the current business landscape, the construction, automotive, and renewable energy sectors are experiencing significant growth, driving the demand for lightweight materials that deliver superior strength and durability. Fiberglass, a leading contender in this category, is increasingly adopted by manufacturers to enhance their market presence. Its applications span across the automobile and wind energy industries, contributing to reduced greenhouse gas emissions and improved fuel efficiency. Fiberglass's lightweight nature and high strength-to-weight ratio make it an attractive alternative to steel and aluminum in automobile manufacturing. With a weight reduction potential of approximately 60% compared to steel, fiberglass offers a cost-effective solution for various industries. 

Get more information on Fiberglass Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Composites
  • Insulation
• End-user
  • Construction
  • Automotive
  • Aerospace
  • Wind energy
  • Others
• Geography
  • APAC
    • China
    • Japan
  • North America
    • Canada
    • US
  • Europe
    • Germany
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in residential and commercial construction
• Rising demand for fiberglass in automotive industry
• Increasing demand for fiberglass in wind turbines

However, the market also witnesses some limitations, which are as follows:

• Availability of substitutes for fiberglass
• Health hazards associated with fiberglass
• Limitations of fiberglass

Benefits of Buying Global Fiberglass Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Fiberglass Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

Fiberglass, derived from glass fibers such as chopped strands and glass wool, is produced using raw materials like silica sand, soda ash, and limestone. It finds extensive applications in various industries, including boats, automobiles, electronic goods, storage tanks, pipes, wind power, and panel assemblies. Fiberglass provides structural integrity against corrosive media, making it suitable for manufacturing body panels, wheelhouse assemblies, front fascia, battery boxes, and water treatment systems. Liquid resin, reinforced fabric, and binding agents like polyester and epoxy are used in the fiberization process. Silicabased materials ensure durability and resistance to extreme temperatures and pressures.

Market Research Overview

In the expansive landscape of the global construction materials market, fiberglass and reinforced plastics occupy a significant segment. Comprising composite materials, glass fiber products, and fiber-reinforced composites, this sector encompasses manufacturing processes for thermoset and thermoplastic composites. Fueling growth in this sector are industrial applications, including lightweight construction materials, fiberglass insulation, and high-performance composites for automotive parts, boat manufacturing, aerospace, and renewable energy, particularly wind turbine blades. The burgeoning construction industry, with its continued expansion, significantly boosts the demand for these advanced materials.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/