Glass Fiber Market to grow by USD 3894.34 million between 2023-2027
According to a research report “ Glass Fiber Market” by End-user (Construction, Transportation, Consumer products, Wind turbines, Others) Application (Composites, Insulation) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 3894.34 million at a CAGR of 4.93% during the forecast period. The construction industry in emerging economies, including China, India, and Japan, is experiencing substantial expansion, driven in part by advancements in building materials such as glass fibers. These fibers are utilized extensively in applications like roofs, walls, windows, and doors as composites. A prime example is Glass Fiber Reinforced Cement (GFRC), a composite of sand, hydrated cement, and glass fibers, which is gaining popularity in the industry. GFRC is a versatile material, used in facade panels, channels, and piping, and offers superior tensile, flexural, and compressive strength, making it two times stronger than steel yet 75% lighter..
Browse market data tables, figures, and in-depth TOC on “Glass Fiber Market” by End-user (Construction, Transportation, Consumer products, Wind turbines, Others) Application (Composites, Insulation) Geography (APAC, North America, Europe, Middle East and Africa, South America) Global Forecast to 2027.
View detailed Table of Content- Click here
By End-user, the Construction segment is projected to dominate the market size in 2024.
In the Glass Fiber Market, polymer matrices serve as the foundation for producing Fiber-Reinforced Polymer (FRP) composites, which are subsequently strengthened with engineered, synthetic, or natural fiber reinforcements. The primary consumer industries for glass fiber composites are transportation, construction, and pipe and tank sectors. Factors propelling market expansion include escalating residential and commercial development, continuous growth in oil and gas operations and water/wastewater infrastructure, and heightened demand for lighter automobiles. The automotive industry's robust global presence significantly influences the composite segment of the glass fiber market, ensuring steady growth throughout the forecast period.
By Application, Composites segment is expected to hold the largest market size for the year 2024.
In the building and construction sector, the market for glass fiber composites, particularly glass fiber reinforced concrete (GFRC), is experiencing significant growth. GFRC is produced by integrating short glass fibers into a blend of sand, cement, water, and admixtures, resulting in a high-performance concrete material. This innovative composite offers numerous advantages, including lightweight properties, fire resistance, corrosion resistance, and superior strength. The cementitious matrix in GFRC distributes loads to the glass fibers, safeguarding structures from environmental pressures. In structural applications, laminated glass fiber-reinforced composites are extensively utilized due to their desirable size and shape adaptability.
APAC is forecasted to hold the largest market size by region in 2024.
The APAC region experiences significant growth in the glass fiber market due to increasing demands across industries such as construction, transportation, electronics, and electrical sectors. Factors driving this trend include a surge in construction activities fueled by rising per capita income and the adoption of connected technologies in automobiles. Notably, China, India, and Japan are key contributors to market revenue, with their thriving construction industries. Government initiatives, like India's Union Budget 2021 allocation for infrastructure development, further bolster market expansion.
The Glass Fiber Market t 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:
.
For insights on company offerings- Request a sample report!
Research Analysis Overview
The Glass Fiber Market encompasses the production, application, and sales of composite materials, specifically those made from Glass Fibers. These fibers, derived from Glass wool or chopped strands, are often combined with resins to create lightweight yet strong composite materials. This market finds significant demand in various industries, including Wind Energy, where Glass Fiber Reinforced Polymer (GFRP) composites are used for decking, window frames, doors, railings, girders, and even in the production of blades. Moreover, Glass Fibers are extensively utilized in sectors like aerospace and automotive, where lightweight and high-strength materials are essential for fuel efficiency and improved performance. In construction, Glass Fiber Reinforced Concrete (GFRC) is gaining popularity due to its durability and resistance to corrosion. The versatility of Glass Fibers extends to applications in bridges, metal components, and even in the production of cloth mats and fiberglass yarns. Overall, the Glass Fiber Market is poised for growth, driven by the increasing demand for lightweight, strong, and corrosion-resistant materials across various industries.
Market Research Overview
The Glass Fiber Market encompasses a wide range of applications in various industries. Key sectors include the construction industry for decking, window frames, doors, railings, girders, and architectural elements. In the power generation sector, glass fiber reinforced composites are utilized in wind energy for wind turbine nacelles and wind farms. The petrochemical industry employs glass fiber in the production of insulation materials, connectors, cables, and interior materials. Glass fiber is also essential in the aerospace and automotive sectors for manufacturing lightweight, strong composite materials used in aircraft and vehicles. The use of glass fiber in the form of yarn, chopped strand, and mat is prevalent in the production of composite materials, resins, and fibers. Moreover, glass fiber finds applications in the insulation industry for insulation, flame retardants, and wiring harnesses. Safety codes and regulations require the use of glass fiber reinforcements, filtration media, and gaskets in various industries. The recycling infrastructure and recycling of glass fiber composites are gaining importance for sustainability and reducing waste. In summary, the Glass Fiber Market is a significant and diverse industry, with applications ranging from construction and power generation to aerospace, automotive, and insulation industries. The use of glass fiber in various forms, including yarn, chopped strand, mat, and resins, is essential for manufacturing composite materials, insulation materials, connectors, cables, interior materials, and various structural supports.
Contacts
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/
