Fiberglass Market Outlook Report 2023 | Industry Insights, Company Overview and Investment Analysis Business Overview

“Fiberglass Market”
Global Fiberglass Market Information-by Types (A-glass, C-glass, D-glass, E-glass, R-glass, S-glass, and Others), by Application (Composites, Insulations), by End User (Aerospace, Automotive, Construction, Electrical, Pharmaceutical, Industrial, and Others), and by Region – Forecast till 2023

Asia Pacific Fiberglass Market is expected to see highest growth during the forecast period due to various end user industry such as automotive, construction, and electrical in Asia Pacific countries. In Asia-Pacific increase in population has directly influenced the consumption of overall demand for automotive, construction, and electrical industry. In addition, the demand for composites and insulations fiberglass are undergoing high growth rate due to an increase in the number of manufacturers such as Taishan Fiberglass Inc and Jushi Group Co. Ltd and the fast expansion of the fiberglass industry in this region. The presence of other industries such as consumer electronics, wind energy, oil & gas, construction, and others added for the largest market share in China and Japan. Increased infrastructure projects in these countries specifically focus on urban buildings, waste water, chemical and industrial applications and are effectively contributing to this growth. The consumption of fiberglass in China is highest among all the countries of Asia Pacific followed by Japan.

On the other hand North America hold second position for Global Fiber Glass Market. North America is the fastest-growing market due to the easy availability of high-quality raw materials and increasing demand for fiber glass from developed and developing countries in the region, such as U.S. and Canada and others.

Furthermore, Europe region comes at third position for Global Fiberglass Market. This region shows a considerable growth due to the presence of large number manufacturers. Huge capital investment in composites Fiberglass segment may drive the global market in Europe region. The fiberglass market dominating by UK, France, and Germany in this region. Moreover, Middle East, Latin America and South Africa is an emerging region for Fiberglass Market. The opportunity of the fiberglass in the Middle East region due to industrial application in oil & gas, marine, transportation, construction,  and others.  Saudi Arabia is expected to dominant the market during the forecast period in terms of value and volume, due to increasing demand in various end use industries. This region will play a major role in the development of overall Fiberglass Market development.

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Key Players:

Major players having presence in the Global Fiberglass Market include Jushi Group Co. Ltd (China), AGY Holding Corp. (U.S.), Saint-Gobain Vetrotex (Europe), PPG Industries Inc. (US), Owens Corning (US), Taiwan Glass Industry Corporation (Taiwan), Taishan Fiberglass Inc (China), PFG FIBER GLASS CORPORATION (Taiwan), Fiber Glass Industries Inc (US), W. L. Gore & Associates, Inc (US), and Others.

Segmentation

The Global Fiberglass Market is majorly segmented on the basis of types, end users and region. Based on types of fiberglass the market is segmented into A-glass, C-glass, D-glass, E-glass, R-glass, S-glass, and others (AR-glass, ECR-glass, etc.). By application, global fiberglass market is segmented into composites and insulation. Based on end user the market segmented into aerospace, automotive, construction, electrical, pharmaceutical, industrial, and others(wind energy, petrochemicals, etc.) and based on region market is segmented into North America, Europe, APAC, Latin America, Middle East & Africa.

Industry/ Innovation/ Related News:

January 2016 – China fiber glass company Jushi had planned to expand its production facility in Egypt, European region. The production facility of fiber glass is under construction and expected to complete by 2019. The plant to raise production to 200,000 metric tons per annum. The total investment is around USD 223 million. At present, company has total output of 80,000 tons annually. Egypt is rich in raw material resources necessary for fiberglass market. The company strengthen their position by capturing countries nearby Egypt market.

October 2017 –Owens Corning is planning to expand production facility by approximately 25% at its Chambéry, France Location. The company is rebuilding a glass melter at composites manufacturing facility. This plant produces chopped Glass Fiber strands which is used for reinforcing thermoplastic. The thermoplastic chopped strand products are produced based on boron-free Advantex glass.  Advantex technology helps to yield high performing Glass Fiber that can face corrosive environment and minimize environmental footprint compared to conventional E-glass. This will benefit company position in thermoplastic polymer market.

August 2016 – Owens Corning invested around USD 110 million to expand production facility at its composites operations in India. The company installed 80,000 tons glass melter at existing facility in Taloja, India. The facility is expected to come in operation in early 2018. This would strengthen company position in composite market and help company to meet domestic as well as global demand of glass fiber market.

September 2017 –PPG Industries Inc. sold out its Fiber Glass business operation to Nippon Electric Glass Co. Ltd. (NEG). NEG acquired production facilities of PPG located at Chester, South Carolina, and Lexington and Shelby, North Carolina. The company divested its operation along with research and development operation in Shelby and in Harmar, Pennsylvania. In 2016, PPG also sold out its North America flat glass operations. With this divesture company intend to focus on other business segments.

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