Future Market Insights newly published market report, “Fiberglass (Glass Fiber) Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028,” examines the Fiberglass (Glass Fiber) Market and offers crucial market insights for the next ten years. According to the global fiberglass (glass fiber) market 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 4.6 % during the forecast period (2018 – 2028). The global fiberglass (glass fiber) market is expected to expand at a CAGR of 4.3 %, accounting for US$ 13,146.0 Mn by the end of 2028.
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 to the low maintenance cost and erosion. On the account of these factors, the growth of the global market is expected to remain positive over the coming years.
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However, increasing instances of health hazards such as rashes on the skin, irritation in 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 out for cheaper and safe alternatives. Based on these factors, the growth of the global fiberglass (glass fiber) market is likely to face headwinds during the forecast period
On the basis of the glass type segment, the E-class glass type segment is anticipated to be a leading revenue contributor in the fiberglass (glass fiber) market.
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Global Fiberglass (Glass Fiber) Market Competitive Landscape
Some of the players identified in the global fiberglass (glass fiber) market are Owens Corning, PFG Fiber Glass Corporation, CPIC Abahsain Fiberglass M.E., W.L.L., Chongqing Polycomp International Corp, and Jushi Group Co., Ltd. among others. Over the recent past, the industry players have focused on acquisitions and increasing their production capacities to meet the growing demand from various end-user industries.
Global Fiberglass (Glass Fiber) Market Segmentation and Forecast
Fiberglass (Glass Fiber) Market is segmented on the basis of product type as:
- Rovings
- Mats
- Strands
- Fabrics
Fiberglass (Glass Fiber) Market is segmented on the basis of glass type as:
- S-Class
- E-Class
- C-Class
- ECR-Class
- Others
Fiberglass (Glass Fiber) Market is segmented on the basis of application as:
- Aerospace & Defense
- Wind Energy
- Construction
- Marine
- Sports & Leisure
- Pipes & Tanks
- Automotive
- Others
Fiberglass (Glass Fiber) Market is segmented on the basis of region as:
- North America
- Latin America
- Western Europe
- China
- APAC excluding China & Japan
- Eastern Europe
- MEA
- Japan