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Fiberglass Market Increasing utilization of fiberglass in infrastructure and construction industries is driving the market.
VANCOUVER, BC, CANADA, June 20, 2022 /EINPresswire.com/ -- The global fiberglass market is likely to reach USD 15.79 Billion by 2027, according to a current analysis by Emergen Research. This growth of the market can be attributed to the rising demand for insulated building roofs and walls. The low heat distribution gradient and non-conductive nature of fiberglass, which make it suitable for utilization in the construction of insulated roofs and walls, has driven the fiberglass market. Extensive usage of fiberglass composites across various industries, such as chemical & petrochemical, oil & gas, pulp & paper, offshore drilling, mining & mineral, waste & wastewater, metal processing, and food processing industries, is contributing to the fiberglass market. A key factor driving the market is that fiberglass composites are highly customizable and they offer several advantages over traditional materials.
The report is updated with the COVID-19 crisis and its subsequent impact on the economic scenario. The crisis has resulted in a drastic change in the economic landscape on a global level. The report also provides a study about COVID-19 impact on the market size and the present and future impact of the COVID-19 pandemic.
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In August 2020, Owens Corning announced a new product line called FOAMULAR® NGX insulation. The proprietary blowing agent in this new line of extruded polystyrene (XPS) foam products delivers 90% reduction in global warming potential (GWP), without sacrificing product performance. The glass wool segment held the largest market share of 33.5% in 2019. Increasing expenditure on ongoing construction projects in developed as well as developing economies has resulted in increased demand for glass wool. The composites segment is projected to expand at the most rapid CAGR of 5.0% during the forecast period. The non-conductive nature and lower heat distribution gradient of fiberglass help in making it a great electric insulator. Also, it saves energy and lowers utility bills, which has increased utilization of fiberglass composites in the construction & infrastructure industry.
The report aims to provide a determining analysis of the market competition to help the user make a pivotal business analysis. The complete portfolios of the key companies, including their production capacity, revenue share and size, gross margin, sales revenue and margin, growth rate, along with their business strategies and technological developments, have been discussed in the report.
The companies operating in the market and profiled in the report include Key market participants include TAISHAN FIBERGLASS INC. (CTG), Owens Corning, Nippon Electric Glass Co., LTD., Binani 3B-The Fibreglass Company, China Jushi Co., Ltd., Taiwan Glass Ind Corp., PFG Fiber Glass (Kunshan) Co., Ltd., Johns Manville Corp., Knauf Insulation, and AGY Holding Corp.
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The research study also focuses on a comprehensive analysis of market trends, driving factors and constraints affecting the market growth, and opportunities for business development and expansion.
The report further discusses in detail the market segmentation based on types and applications.
Emergen Research has segmented the global fiberglass market on the basis of type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2017–2027)
Roving Glass Wool Chopped Strands Yarn Others Application Outlook (Revenue, USD Billion; 2017–2027)
Composites Insulation End-use Outlook (Revenue, USD Billion; 2017–2027)
Wind Energy Automobiles Aerospace Building & Construction
The research study on the global Fiberglass market provides a complete detail-oriented assessment of this market and provides an accurate evaluation of market tendencies such as revenue estimations and shares, current market value, future market valuation, and market size over the forecast years. The report focuses on the evaluation of the given market in major regions and the countries included in those regions. The report provides details of the market considering the geographical landscape that includes North America, Latin America, Asia Pacific, Europe, and Middle East & Africa.
Major benefits of the Fiberglass report:
The report discusses in detail the changing dynamics of the competitive landscape The report provides detail-oriented futuristic prospects of factors driving the growth of the market and limitations affecting the market growth The report gives a comprehensive analysis of the changing dynamics of the market owing to the current scenario The report encompasses a detailed forecast for the years 2019-2027 The report provides valuable insights on key market growth driving trends and monetary competence in the forecast timeline
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The report also provides a detailed analysis of consumption and market value depending on each geographical region. The report aims to provide beneficial information that might help in formulating new business strategies and expansion plans. SWOT analysis is also offered in this report. Research findings and conclusions are offered through detailed graphs, tables, charts, and figures.
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Thank you for reading our report. Customization of this report is available according to the requirement of the clients. For further queries or information regarding this report, please get in touch with us, and our team will provide you with optimal research solutions.
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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Fiberglass Market Size Worth USD 15.79 Billion by 2027
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