Globally High Demand for Fiberglass Across Industries Set to Propel Market Growth, Predicts FMI Research

Fiberglass Market

According to the global fiberglass industry report, the rovings segment by product type is expected to dominate the overall market accounting for over 57% revenue share by 2028-end. The fiberglass (glass fiber) market is expected to register a CAGR of 4.3 % during the forecast period (2022 – 2028). The global fiberglass (glass fiber) market is expected to expand at a CAGR of 4.3 %, accounting for US$ 13.1 Billion by the end of 2028

High use of FRP fiberglass in wind turbines, increasing demand for fiberglass concrete in the construction industry, rising demand for corrugated fiberglass and fiberglass panels from the automotive and transportation sectors, increased use of composite materials across industries, etc., are some of the major factors driving fiberglass shipments.

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Key Segments of the Fiberglass Industry Survey

By Product Type:

  • Fiberglass Rovings
  • Fiberglass Mats
  • Fiberglass Strands
  • Fiberglass Fabrics

By Glass Type:

  • S-Glass
  • C-Glass
  • E-Glass
  • ECR-Glass
  • Others

By Application:

  • Automotive
  • Aerospace & Defense
  • Wind Energy
  • Construction
  • Marine
  • Sports & Leisure
  • Pipes & Tanks
  • Others

Global Fiberglass (Glass Fiber) Market Dynamics  

With the growing need for developing walls, doors, windows, and roofs, demand for fiberglass is likely to remain high in the construction industry. Glass fiber is also used as a composite in the construction industry. Manufacturers are utilizing GFRC (glass fiber reinforced concrete), which contains hydrated cement, glass fibers, and sand for diverse construction purposes. Incorporation of the fiberglass enables manufacturers to integrate robust features such as anti-corrosiveness, high compressive strength, tensile strength, and lightweight. In addition, manufacturers prefer utilizing fiberglass pertaining of the low maintenance cost and erosion. On account of these factors, the growth of the global market is expected to remain positive over the coming years.

Further, a growing number of construction projects in various developing countries such as India, Brazil, and China have led manufacturers to invest in fiberglass as an effective insulation component. As fiberglass continues to remain a cheaper alternative for insulation in the construction industry, the global fiberglass (glass fiber) market is likely to witness significant growth during the forecast period

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However, increasing instances of health hazards such as rashes on the skin, irritation in the eyes and stomach, and soreness in the throat and lungs among workers and constructors due to fiberglass have posed challenges to the market growth. As the small glass fibers have the ability to reach the lower parts of internal organs such as the stomach, lungs, and skin, risks related to adverse health effects continue to persist. Due to the adverse health effects of fiberglass, manufacturers are looking for cheaper and safer alternatives. Based on these factors, the growth of the global fiberglass (glass fiber) market is likely to face headwinds during the forecast period

Major players identified in the fiberglass (glass fiber) market are focusing on increasing their production capacities and acquisition to enhance their operational efficiency, and product portfolio. Also, strategic collaboration and joint ventures witnessed among leading market players are likely to improve sales and distribution networks. Due to these factors, the growth of the global market is expected to gain speedy momentum during the forecast period.

Global Fiberglass (Glass Fiber) Market Competitive Landscape

Some of the players identified in the global fiberglass (glass fiber) market are

  • Nippon Electric Glass Co. Ltd.
  • Saint-Gobain
  • Owens Corning
  • Jushi Group Co. Ltd.
  • CPIC Abahsain Fiberglass M.E. W.L.L.
  • Shandong Fiberglass Group Co. Ltd.
  • Glasstex Fiberglass Materials Corp.
  • Zibo Zhuoyi Fiberglass Material Co. Ltd.
  • Xingtai Jinniu Fiberglass Co. Ltd.
  • Taishan Fiberglass Inc.
  • Johns Manville
  • Chongqing Polycomp International Corp.
  • PFG Fiber Glass Corporation

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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