Fiberglass Market Size to grow by USD 4740.65 million between 2023-2027
According to a research report “ Fiberglass Market” by Application (Composites, Insulation) End-user (Construction, Automotive, Aerospace, Wind energy, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 4740.65 million, at a CAGR of 6.59% during the forecast period. In the construction industry, fiberglass has emerged as a preferred material due to its versatility and superior properties. It is extensively utilized in the fabrication of roofs, walls, windows, and doors as composite materials. Specifically, Glass Fiber Reinforced Cement (GFRC) is a composite of sand, hydrated cement, and fiberglass, which is gaining popularity for its use in facade panels, channels, and piping. GFRC's high tensile, flexural, and compressive strength, coupled with its lightweight and anti-corrosive properties, make it an ideal choice for modern construction projects. With the surge in building activities and infrastructure development plans in developed economies like the US, the demand for fiberglass is expected to increase significantly. GFRC is 75% lighter and offers twice the strength of steel, making it a cost-effective and efficient solution for various construction applications..
Browse market data tables, figures, and in-depth TOC on “Fiberglass Market” by Application (Composites, Insulation) End-user (Construction, Automotive, Aerospace, Wind energy, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2027. Download Free Sample
By Application, the Composites segment is projected to dominate the market size in 2024
In the realm of materials science, fiberglass composites are engineered by combining multiple components, including fillers and reinforcing fibers, with a compactable matrix. The matrix can be derived from polymeric, metallic, or ceramic materials. The primary function of the fiber reinforcement is to bear the structural load, thereby determining the shape, surface aesthetics, environmental resistance, and overall durability of the composite. This synergy results in enhanced macroscopic stiffness and strength. Fiberglass composites, also recognized as fiber-reinforced plastics (FRPs), have gained significant traction in industries due to their lightweight properties, contributing to fuel efficiency and reduced carbon dioxide emissions. Key industries such as automotive and construction are the primary consumers of these advanced materials. By combining the most desirable traits of their constituent elements while mitigating their least favorable characteristics, fiberglass composites offer unparalleled mechanical and physical capabilities.
By End-user, Construction segment is expected to hold the largest market size for the year 2024
In the construction sector, fiberglass holds significant importance due to its extensive utilization in various applications, including mesh fabrics, drywall tapes, wall coverings, and roof panels. This material offers numerous benefits, making it an ideal choice for construction projects. Fiberglass is renowned for its waterproof properties, making it suitable for exterior applications that safeguard buildings from water damage and enhance structural integrity. Moreover, fiberglass enhances the aesthetic appeal of buildings while bolstering wall strength. Its incorporation in walls also enhances thermal insulation, retaining heat and reducing energy consumption, thereby contributing to cost savings for building owners. The increasing adoption of fiberglass in the construction industry is anticipated to persist throughout the forecast period.
APAC is forecasted to hold the largest market size by region in 2024
The fiberglass market witnesses significant growth due to its versatility and durability, making it an ideal choice for various industries. This high-performance material offers numerous benefits, including resistance to corrosion, electrical insulation, and low maintenance. Demand for fiberglass reinforced plastic (FRP) in construction, transportation, and wind energy sectors is driving market expansion. Manufacturers continue to innovate, developing new applications and improving production processes to meet increasing demand.
The Fiberglass Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
Title: Fiberglass Market: An Overview of Panels, Tanks, and Beyond Fiberglass, a composite material made from glass fibers and a binding agent, has gained significant popularity in various industries due to its exceptional strength, durability, and resistance to corrosive media. The market for fiberglass includes panels and tanks, which are widely used in water treatment, battery boxes, and industrial applications. The binding agents used in fiberglass production are primarily epoxy and polyester resins. The fiberization process involves the use of chopped strand, glass wool, or glass fibers, which are then reinforced with fabric and coated with a liquid resin. Fiberglass panels are used in automobiles, boats, wind power, and construction for their lightweight and strong properties. In the automotive industry, fiberglass is used for front fascia, wheelhouse assemblies, and body panels. In the marine industry, fiberglass is used for boat hulls and decks. Fiberglass tanks are used for storing water, chemicals, and other liquids in various industries, including oil and gas, pharmaceuticals, and food and beverage. Silicabased materials are also used in some fiberglass applications, particularly in high-temperature environments. Fiberglass is also used in the production of pipes and storage tanks for the transportation and storage of corrosive media. Additionally, fiberglass is used in the manufacturing of electronic goods and wind power components. The raw materials used in fiberglass production include limeston, soda ash, and silica sand. The global fiberglass market is expected to grow significantly due to the increasing demand for lightweight and durable materials in various industries.
Market Research Overview
Fiberglass, a composite material made from a resin matrix reinforced with glass fibers, offers various advantages in diverse industries. Its dimensional stability and impact resistance make it an ideal choice for consumer goods, fabric production, and composites. In the plastics industry, fiberglass is used for electrical insulation, acoustic insulation, and thermal insulation. In the renewable energy sector, fiberglass plays a significant role in wind energy through wind turbine blades and panels, contributing to emissions reduction and fuel efficiency. The lightweight nature and strength of fiberglass make it suitable for reinforcement in roofing, aircraft components, automobile parts, boat hulls, and panels. Fiberglass is also used as a binding agent in epoxy and polyester thermosetting resins, enhancing the insulating properties and flexibility of these materials. Silicabased materials and chopped strands, roving, and yarn are essential components of fiberglass production. Boron, aluminum, calcium, silicon, and magnesium are commonly used reinforcements in fiberglass. Electrical glass (Eglass) is a soluble and fusible type of fiberglass used in electrical devices and renewable energy applications. Fiberglass is also used in various industries such as marine, automotive, and construction, offering structural integrity in corrosive media and contributing to energy-efficient buildings and lightweight composites. Its applications include pipes, storage tanks, battery boxes, front fascia, body panels, and panel assemblies. The production of fiberglass involves limeston, soda ash, and silica sand, which are essential raw materials. The flexibility and versatility of fiberglass make it an essential material in addressing environmental concerns and reducing carbon footprint in various industries.
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