Fiberglass Market Size, Share & Industry Analysis, By Form (Roving & Yarn, Strands & Pellets, Mats, Fabric & Cloth, Others), By Type (E-Glass, S-Glass, Others), By Resin Type (Thermosetting, Thermoplastic), By Application (Construction, Electrical & Electronics, Automotive & Transport, Industrial, Others) Others and Regional Forecast, 2019-2026
The global fiberglass market is set to gain impetus from their increasing usage in the construction of roofs and walls as they are considered to be excellent thermal insulators.Fortune Business Insights™provides this information in an upcoming report, titled, “Fiberglass Market Size, Share and Industry Analysis, By Form (Roving and Yarn, Strands and Pellets, Mats, Fabric and Cloth, Others), By Type (E-Glass, S-Glass, Others), By Resin Type (Thermosetting, Thermoplastic), By Application (Construction, Electrical and Electronics, Automotive and Transport, Industrial, Others) Others and Regional Forecast, 2019-2026.” The report further mentions that as per the manufacturers of fiberglass, it can be used for over 40,000 applications. Out of those, the major application areas are storage tanks, printed circuit boards (PCBs), vehicle body parts, and building insulation.
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Drivers and Restraints-
Rising Demand for Insulated Building Walls and Roofs to Boost Growth
The high demand for insulated building roofs and walls across the globe is one of the most vital factors for the fiberglass market growth. Fiberglass possesses very low dielectric constant, as well as heat transfer coefficient. These properties make it best suited for extensive usage in the construction of walls and roofs that are insulated. However, products made of fiberglass are quiet difficult to repair as the materials required for the repairing work are to be always kept in refrigerated condition. These materials often have low shelf life. Also, repair work needs to be done with specialist equipment. These factors may obstruct the market growth.
Regional Analysis-
Asia Pacific to Remain at Forefront Stoked by High Demand from Construction Industry
The market is geographically fragmented into South America, Asia Pacific, Europe, the Middle East and Africa, and North America. Amongst these regions, Asia Pacific is anticipated to generate the maximum fiberglass market share and lead throughout the forecast period. This growth is attributable to the increasing consumption of fiberglass in the developing countries, such as India and China. Additionally, the rising demand from the construction industry situated in these countries is set to contribute to the growth.
North America would remain in the second position fueled by the high demand for fiberglass for applications, such as thermal and electrical insulators in the construction of buildings. The emerging countries in the Middle East and Africa and South America are likely to open door to attractive growth opportunities for the stakeholders because of the ongoing developments of the industries. Presence of an established automotive sector is anticipated to propel the market growth in Europe.
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Competitive Landscape-
Key Players Focus on Joint Ventures and Expansion Strategies to Surge Sales
The market is highly fragmented with the presence of a large number of companies. They are trying to gain a competitive edge by investing huge sums in the expansion of their manufacturing plants. Some of them are also participating in joint ventures to co-construct plants. Below are two of the latest industry developments:
Fortune Business Insights™ presents a list of all the prominent fiberglass manufacturers operating in the market. They are as follows:
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