According to IMARC Group’s latest report, titled “Fiberglass Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global fiberglass market grew at a CAGR of around 6% during 2015-2020. Looking forward, IMARC Group expects the global market to continue its moderate growth during 2021-2026.
Fiberglass is a reinforced plastic material produced by embedding glass fibers with a resin matrix. It is cost-effective, lightweight, durable, corrosion-resistant, and non-conductive, providing high electrical insulation. Fiberglass is commonly available in the form of yarn, direct and assembled roving, glass wool, flattened sheets, and chopped strand. As compared to conventional materials, fiberglass offers ecological sustainability and improved energy efficiency. On account of these benefits, it is widely applied across the construction, aerospace, defense, automotive, and electronics industries.
Increasing environmental consciousness and an enhanced focus on sustainable development are among the key factors driving the global fiberglass market growth. In line with this, governments of various nations are increasingly undertaking initiatives to reduce carbon footprint across the industrial sector while investing heavily in the construction of green and energy-efficient buildings. This, in turn, is contributing to the widespread utilization of fiberglass significantly. Other factors, such as the expanding automotive industry and increasing replacement of metal-based materials with fiberglass in the oil and gas sector, are creating a positive outlook for the market further.
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Fiberglass Market 2021-2026 Competitive Analysis and Segmentation:
The competitive landscape of the fiberglass market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
The report has segmented the global fiberglass market on the basis of glass product type, glass fiber type, resin type, application, end user and region.
Breakup by Glass Product Type:
Breakup by Glass Fiber Type:
Breakup by Resin Type:
Breakup by Application:
Breakup by End User:
Breakup by Region:
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Key highlights of the report:
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