Pune, Dec 07, 2022: Maximize Market Research has published a new report entitled Fiberglass Market 2021-2029. The Fiberglass Market is estimated to be valued at USD 25.65 Billion in 2021. The market is projected to reach a market value of USD 44.73 billion by 2029 and is expected to grow at a CAGR of 7.2% during the forecast period 2022-2029.
Fiberglass Market Report Scope:
The report provides a comprehensive analysis of the global fiberglass market. the report estimates the fiberglass market, in terms of USD value from 2021 to 2029. In order to identify potential investment pockets, this report gives an analytical representation of the Fiberglass industry together with current trends and future forecasts. The report includes a thorough analysis of the market share for Fiberglass as well as data on important drivers, restraints, and opportunities. A quantitative analysis of the existing market is done from 2021 to 2029 to show the potential for market growth across the globe. In addition, Porter’s five forces study demonstrates the market power of both buyers and providers. The research offers a thorough analysis of the global fiberglass market based on the level of competition and how it will develop over the forecast period.
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Fiberglass Market Overview:
One popular kind of glass fiber-reinforced material is fiberglass. The fibers can be woven into glass fabric, flattened into a chopped strand mat, or randomly layered. The thermoset polymer matrix, which is frequently based on thermosetting polymers like epoxy, polyester resin, or vinyl ester resin, or the thermoplastic matrix, are also possible choices for the plastic matrix. By weight, it is more powerful than many metals, non-magnetic, non-conductive, transparent to electromagnetic radiation, moldable into intricate shapes, and chemically inert in a variety of environments. Applications include roofs, pipes, cladding, orthopedic casts, surfboards, boats, automobiles, bathtubs and enclosures, swimming pools, hot tubs, septic tanks, and water tanks.
Fiberglass Market Dynamics:
Rising Wind Energy Industry Demand for Power Generation
Fiberglass wind turbine blades are frequently manufactured from marine-grade stranded E-glass fibers sewn together and injected with a vinyl ester, polyester, or epoxy matrix. Fiberglass textiles are used in the fabrication of lightweight rotor blades, which has a substantial impact on driving product demand throughout the predicted period. Fiberglass growth is likely to be driven by increased investment in wind technology development by key manufacturers such as GE, particularly in fabric wind turbine blades. Traditional wind turbines are built of tough fiberglass, making them difficult to build and transport. Fiberglass fabric provides several benefits when used in wind turbine blades, including lightweight and the possibility to build longer blades at up to 40% less cost. Fiberglass fabric provides several benefits when used in wind turbine blades, including lightweight and the possibility to build longer blades at up to 40% less cost. It produces an easy-to-access and repair blade structure while decreasing processing time in half. The lightweight turbines may be installed on-site, lowering transportation costs, and can generate wind energy at lower wind speeds, assisting in the growth of the worldwide wind energy sector.
Fiberglass Market Regional Insights:
The Asia Pacific region led the fiberglass market in 2021, and is expected to dominate the fiberglass industry at a significant CAGR over the forecast period. Asia Pacific is the most rapidly developing region, with rising middle-class discretionary income, industrialization, and urbanisation. These factors have a considerable impact on the automotive, electrical & electronic, construction, and other industrial product manufacturing markets, and hence on the fiberglass industry. The primary countries contributing to the growth of the Asia Pacific fiberglass market are China, Japan, India, South Korea, and Australia. The Asia Pacific area is characterized by the availability of low-cost skilled labor as well as accessible industrial land availability.
Fiberglass Market Segmentation:
By Glass Type:
- Glass Wool
- Chopped Strand
- Building & Construction
- Electrical & Electronics
- Pipe & Tank
- Consumer Goods
- Wind Energy
Fiberglass Market Key Competitors:
- China Jushi Co.
- PPG Industries
- Owens Corning
- Taishan Fiberglass
- Nippon Electric
- Chongqing Polycomp
- Binani 3B-
- Taiwan Glass Ind.
- Johns Manville Corp.
- Asahi Fiberglass Co
- Knauf Insulation
- Saint-Gobain Vetrotex
- Jushi Group Co., Ltd
- Taishan Fiberglass Inc.
- Xingtai Jinniu Fiberglass
- Shandong Fiberglass
- Glasstex Fiberglass
- Binani 3B
- PFG Fiber Glass
Key Questions answered in the Fiberglass Market Report are:
- What is the competitive scenario of the Fiberglass Market?
- Which are the key factors aiding the Fiberglass Market growth?
- Which region is expected to hold the largest share of the Fiberglass Market by 2029?
- What will be the CAGR of the Fiberglass Market during the forecast period?
- Which are the prominent players in the Fiberglass Market?
- What key trends are likely to emerge in the Fiberglass Market during the forecast period?
- What is the expected Fiberglass Market size by 2029?
- Which company held the largest share of the Fiberglass Market in 2021?
- Which application segment is expected to emerge as the leading segment in the Fiberglass Market?
- Which product segment held the largest share of the Fiberglass Market in 2021?
For Detailed insights on this market, request for methodology here @ https://www.maximizemarketresearch.com/request-sample/2602
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Type, Cooling Fluids, Application, Data Center, End-Use Industry, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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