Jan 4, 2020   SOURCE: BusinessWire

Global $23.9B Fiberglass Market by Glass Type, Resin Type, Product Type, Application and Region - Forecast to 2024 - ResearchAndMarkets.com

The "Fiberglass Market by Glass Type (E-Glass, ECR-Glass, H-Glass, AR-Glass, S-Glass), Resin Type, Product Type (Glass Wool, Direct and Assembled Roving, Yarn, Chopped Strand), Application (Composites, Insulation), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The fiberglass market is projected to grow from USD 17.1 billion in 2019 to USD 23.9 billion by 2024, at a CAGR of 7% from 2019 to 2024. The growth of the construction industry is driving the fiberglass market.

The leading fiberglass manufacturers include China Jushi Co., Ltd. (China), Owens Corning (US), Nippon Electric Glass Co., Ltd. (Japan), Taishan Fiberglass Inc. (CTG) (China), Chongqing Polycomp International Corp. (CPIC), (China), and Johns Manville Corp. (US). These players are adopting the strategies of new product lunches, expansions, and agreements to maintain their competitive position in the fiberglass market.

The glass wool fiberglass segment is projected to lead the fiberglass market in terms of both value and volume from 2019 to 2024

Based on product type, the glass wool fiberglass segment accounted for the largest share of the fiberglass market in 2018. This segment is projected to lead the market in terms of both value and volume during the forecast period. The growth of this segment can be attributed to increased usage in the construction & infrastructure end-use.

The composites application segment is projected to lead the fiberglass market in terms of both, value and volume during the forecast period

Based on application, the composites application segment led the fiberglass market in 2018 in terms of both value and volume. The high growth of the construction and automotive industries in Asia Pacific and North America is driving this segment.

The E-glass segment is projected to lead the fiberglass market in terms of both value and volume from 2019 to 2024

Based on glass type, the E-glass segment accounted for the largest share of the fiberglass market in 2018. This segment is projected to lead the market in terms of both value and volume during the forecast period. The growth of this segment can be attributed to its wide-ranging applications and corrosion-resistance and lightweight properties.

The thermoset resins application segment is projected to lead the fiberglass market in terms of both value and volume during the forecast period

Based on resin type, the thermoset resins segment led the fiberglass market in 2018 in terms of both value and volume. Properties such as excellent resistance to solvents, abrasives, high temperature, and heat, flexibility, excellent adhesion, and high strength, as well as the availability of thermoset resins in various types make it preferable for use across applications.

Asia Pacific is projected to lead the fiberglass market during the forecast period, in terms of both, value and volume

The Asia Pacific region is projected to lead the fiberglass market from 2019 to 2024 in terms of both, value and volume. The demand for fiberglass is increasing in Asia Pacific, owing to the growth of construction and automotive industries in the region.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in Fiberglass Market

4.2 Fiberglass Market, By Product Type

4.3 Fiberglass Market, By Application

4.4 Fiberglass Market, By Region

4.5 Asia Pacific Fiberglass Market, By Country & Product Type

5 Market Overview

5.1 Introduction

5.2 Evolution

5.3 Market Dynamics

5.3.1 Drivers

5.3.1.1 Extensive Use of Fiberglass in the Construction Industry

5.3.1.2 Increased Use of Fiberglass Composites in the Automotive Industry

5.3.2 Restraints

5.3.2.1 Issues in Recycling Glass Wool

5.3.3 Opportunities

5.3.3.1 Increasing Number of Wind Turbine Installations

5.3.4 Challenges

5.3.4.1 Capital-Intensive Production and Complex Manufacturing Process, of Fiberglass

6 Industry Trends

6.1 Introduction

6.2 Porter's Five Forces Analysis

6.2.1 Bargaining Power of Suppliers

6.2.2 Threat of New Entrants

6.2.3 Threat of Substitutes

6.2.4 Bargaining Power of Buyers

6.2.5 Rivalry Among Existing Competitors

7 Fiberglass Market, By Glass Type

7.1 Introduction

7.2 E-Glass

7.3 ECR-Glass

7.4 H-Glass

7.5 AR-Glass

7.6 S-Glass

7.7 Others

8 Fiberglass Market, By Resin Type

8.1 Introduction

8.2 Thermoset Resins

8.2.1 Polyester

8.2.2 Epoxy

8.2.3 Polyurethane

8.2.4 Vinyl Ester

8.2.5 Phenolic

8.3 Thermoplastic Resins

9 Fiberglass Market, By Product Type

9.1 Introduction

9.2 Glass Wool

9.2.1 Glass Wool is Used as A Thermal Insulator in Residential Walls and Ceilings to Reduce Power Consumption

9.3 Direct and Assembled Roving

9.3.1 High Demand From the Construction, Infrastructure, and Wind Energy Sectors is Expected to Drive the Growth of the Direct and Assembled Roving Segment

9.4 Yarn

9.4.1 The Rising Demand for Yarns From the Electronics and Construction Sectors is Expected to Drive the Growth Of, the Yarn Segment

9.5 Chopped Strand

9.5.1 The Rise in Automobile Production in Asia Pacific and Europe is Contributing to the Growing Demand for Chopped Strands

9.6 Others

10 Fiberglass Market, By Application

10.1 Introduction

10.2 Composites

10.2.1 Construction & Infrastructure

10.2.1.1 Lightweight, High Tensile Strength, and High Strength to Weight Ratio Properties Makes Fiberglass Composites Preferable in Construction and Infrastructure Applications

10.2.2 Automotive

10.2.2.1 Weight Reduction, Increased Processing Speed, and Low Voc Emissions From Vehicles Encourages Adoption of Fiberglass in Automotive Applications

10.2.3 Wind Energy

10.2.3.1 High Tensile Strength of Fiberglass Composites is Driving Its Demand for Wind Turbine Blades Manufacturing

10.2.3.2 Trends in Wind Energy Industry

10.2.4 Electronics

10.2.4.1 High Thermal Resistance and Electrical Conductivity Properties of Fiberglass Increases Its Adoption in Electronics Application

10.2.5 Aerospace

10.2.5.1 S-Glass and E-Glass are the Most Widely Used Glass Types in Aerospace Applications

10.2.6 Others

10.3 Insulation

10.3.1 Residential Construction

10.3.1.1 The Residential Construction Segment Led Fiberglass Insulation Market in 2018

10.3.2 Non-Residential Construction

10.3.2.1 The Non-Residential Construction Segment Accounted for the Second-Largest Share of the Fiberglass Insulation Market in 2018

10.3.3 Industrial

10.3.3.1 High Demand for Glass Wool Fiber to Manufacture Industrial Pipes, Power Plant Boilers, and Smoke Flues is Driving the Industrial Insulation Application Segment

10.3.4 Others

11 Fiberglass Market, By Region

11.1 Introduction

11.2 Asia Pacific

11.3 Europe

11.4 North America

11.5 Middle East & Africa

11.6 South America

12 Competitive Landscape

12.1 Overview

12.2 Competitive Landscape Mapping, 2019

12.2.1 Visionary Leaders

12.2.2 Innovators

12.2.3 Dynamic Differentiators

12.2.4 Emerging Companies

12.3 Strength of Product Portfolio

12.4 Business Strategy Excellence

12.5 Market Ranking of Key Players

12.6 Competitive Scenario

12.6.1 Expansions

12.6.2 New Product Launches

12.6.3 Agreements

12.6.4 Acquisitions

12.6.5 Investments

12.6.6 New Product Developments

12.6.7 Partnerships

13 Company Profiles

13.1 China Jushi Co., LTD.

13.2 Owens Corning

13.3 Nippon Electric Glass Co., LTD.

13.4 Taishan Fiberglass Inc. (CTG)

13.5 Chongqing Polycomp International Corp. (CPIC)

13.6 Binani 3b-The Fibreglass Company

13.7 Taiwan Glass Ind. Corp.

13.8 Johns Manville Corp.

13.9 PFG Fiber Glass (Kunshan) Co., LTD.

13.10 Asahi Fiberglass Co., LTD.

13.11 Knauf Insulation

13.12 Saint-Gobain Vetrotex

13.13 Certainteed Corporation

13.14 Saint-Gobain Adfors

13.15 AGY Holding Corp.

13.16 Other Companies

13.16.1 Saint-Gobain Isover

13.16.2 Soda Sanayii As

13.16.3 Saertex GmbH & Co.KG

13.16.4 Nitto Boseki Co., LTD.

13.16.5 KCC Corporation

13.16.6 Jiangsu Changhai Composite Materials Co., LTD.

13.16.7 Fiberex Corporation

13.16.8 Bgf Industries, Inc.

13.16.9 Arabian Fiberglass Insulation Co., LTD. (AFICO)

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