(EMAILWIRE.COM, May 11, 2024 ) The report “Fiberglass Market by Glass Type (E Glass, ECR Glass, H Glass, AR Glass, S Glass), Product Type (Glass Wool, Direct and Assembled Roving, Yarn, Chopped Strand), Application (Composites, Insulation), and Region – Global Forecasts to 2028 ” The fiberglass market is projected to grow from USD 27.7 billion in 2022 to USD 44.3 billion by 2028, at a CAGR of 7.3% during the forecast period.
Browse in-depth TOC on “Fiberglass Market
364 – Market Data Tables
56 – Figures
345 – Pages
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Based on glass type, ECR (Electronically Controlled Resin) glass is a type of glass fiber that has high strength and stiffness, making it suitable for use in applications that require high mechanical properties. The ECR-glass segment is expected to register the second-highest share of the fiberglass market due to the increased use of fiberglass composites. The ECR glass is produced by melting a mixture of raw materials and then drawing them into fibers. The fibers are then treated with a special sizing agent to improve their compatibility with the resin matrix. One of the key advantages of ECR-glass in fiberglass applications is its resistance to alkali environments. This makes it particularly suitable for use in concrete reinforcement, where it can help to improve the durability and longevity of the concrete structure. ECR glass is also used to manufacture wind turbine blades, where its high stiffness and strength properties are critical to ensuring the efficiency and reliability of the blades. For example, In 2020, Owens Corning, a leading producer of glass fiber reinforcements, announced the expansion of its production capacity for ECR glass at its plant in Chambéry, France. The expansion was aimed at meeting the growing demand for high-strength glass fiber products in the European market.
Based on application, The composites segment is expected to have the largest share of the fiberglass market in 2022 by value. Fiberglass composites are increasingly being used in various industries due to their corrosion resistance, lightweight, and durability. Composites are materials made by combining two or more constituent materials with different properties. The combination of fiberglass and other materials in composites allows for the creation of materials with specific properties tailored to the needs of a particular application.
Based on product type, the direct & assembled roving segment is expected to have the second-highest share fiberglass market in 2023. Direct roving is a type of fiberglass product made by pulling molten glass through a series of bushings, resulting in a continuous fiber strand. This strand is then coated with a sizing agent to help it bond to resins or other materials during manufacturing. Direct rovings are used in a variety of applications, including wind turbine blades, boat hulls, automotive parts, and aerospace components. Both direct roving and assembled roving are widely used in the fiberglass market and offer unique advantages depending on the specific application. Direct roving is typically faster and more efficient to produce, while assembled roving offers greater strength and durability. Ultimately, the choice between direct and assembled roving will depend on the specific needs of the application in question.
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Based on Region, Europe was the second largest market for the fiberglass industry in 2022, with Germany being the largest market in the region. Europe is a major producer of fiberglass, with several large companies operating in the region, including Owens Corning, Saint-Gobain, and AGY. These companies produce a variety of fiberglass products, including reinforcements, insulation, and composites. One trend that was expected to drive growth in the fiberglass market in Europe was the increasing demand for lightweight materials in the automotive and aerospace industries. Fiberglass is a lightweight and strong material, which makes it well-suited for use in these industries. In addition, the construction industry in Europe was expected to continue to grow, which would also drive demand for fiberglass products. Fiberglass is commonly used in construction for insulation, roofing, and other applications.
Fiberglass Market Key Players
Major players operating in the fiberglass market include China Jushi Co., Ltd. (China), Owens Corning (US), Saint-Gobain (France), Taishan Fiberglass Inc. (CTG Group) (China), Chongqing Polycomp International Corp. (CPIC) (China), Nippon Electric Glass Co., Ltd. (Japan), 3B-the Fiberglass Company (Belgium), Taiwan Glass Ind. Corp. (Taiwan), PFG Fiber Glass (Kunshan) Co., Ltd. (China), Johns Manville (A Berkshire Hathaway Company) (US), ASAHI FIBERGLASS Co., Ltd. (Japan), Knauf Insulation (Belgium), and AGY (US). These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, and Asia Pacific. They have an established portfolio of reputable products and services, a robust market presence, and strong business strategies. Furthermore, these companies have a significant market share, products with wider applications, broader geographical use cases, and a larger product footprint.
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