The
global fiberglass market size is expected to reach USD
21.27 billion by 2025, according to a new report by Grand View Research, Inc.
The market for fiberglass is anticipated to register growth with rising
awareness among population regarding the environmental benefits coupled with
economic benefits of using lightweight automobiles. In addition, extensive use
of fiberglass in building and construction industry and rising wind energy
installations are expected to trigger the market growth.
Fiberglass
composites segment is anticipated to be the fastest growing owing to their extensive
use in automobile sector. They are used in automobile and aerospace sectors to
make the vehicle lightweight and enhance performance. The composites are also
used in the manufacturing of wind turbine blades and its structure.
Fiberglass
insulation is used for thermal and electrical isolation in residential,
commercial, and industrial buildings. Fiberglass can be used in construction in
the form of walls, roofs, windows, and ladders. The aesthetic appeal of
fiberglass coupled with growing construction spending globally is anticipated
to drive the market.
In
addition, the increasing use of fiberglass in wind energy installations,
aerospace application, and consumer durables is expected to further boost the
global fiberglass market.
Global
fiberglass market revenue, by type, 2014 - 2025 (USD Billion)
Browse full
research report on Fiberglass Market: https://www.grandviewresearch.com/industry-analysis/fiberglass-market
Further key
findings from the report suggest:
- In terms of revenue, composites segment is
projected to be the fastest growing, at a predicted CAGR of 6.2% over the
forecast period. The lightweight and high strength exhibited by fiberglass
make it an ideal material for many end-use industries.
- Glass wool is the largest type segment in
fiberglass market. Extensive use of glass wool for thermal and electrical
insulation is expected to boost the market.
- Asia Pacific is projected to emerge as the
fastest-growing regional market, displaying a CAGR of 6.3% over the
forecast period due to the presence of huge automobile market and rising
disposable income in the region
- In terms of revenue, automotive segment
accounted for 34.4% of total market share. The market share is expected to
increase owing to the growing use of fiberglass composites in the
manufacturing of a vehicle.
- A large number of companies have implemented
advanced technologies for manufacturing products as per customer
requirements. The companies are heavily investing in the research &
development to launch innovative products in the market.
Browse more reports of this category by Grand View Research: https://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has segmented fiberglass market on the basis of
application, type, end-use, and region:
Application
Outlook (Volume, Kilotons; Revenue, USD Billion; 2014 - 2025)
- Insulation
- Composites
Type
Outlook (Volume, Kilotons; Revenue, USD Billion; 2014 - 2025)
- Glass
Wool
- Yarn
- Roving
- Chopped
Strands
End-use
Outlook (Volume, Kilotons; Revenue, USD Billion; 2014 - 2025)
- Automobiles
- Building
and Construction
- Aerospace
- Wind
Energy
Regional
Outlook (Volume, Kilotons; Revenue, USD Billion; 2014 - 2025)
- North
America
- U.S.
- Europe
- Germany
- UK
- France
- Asia
Pacific
- China
- Japan
- India
- South
Korea
- Central
& South America
- Middle
East & Africa
Access Press Release By Grand View Research: https://www.grandviewresearch.com/press-release/global-fiberglass-market
About Grand View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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