Published on : Mar 19, 2018
Albany, New York, March 19, 2018: According to the latest study findings, fiberglass is projected to remain the most widely used insulation material due to favorable characteristics such as installation and handling advantages in comparison of insulation materials. Market Research Hub (MRH) has publicized this new study to its massive online repository, which is titled as “Fiberglass Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”. The main motive of the study is to provide an in-depth analysis of the market trends, factors in the current market along with industry growth prospects from 2012 to 2017, and forecast to 2026. To provide better and accurate results, the report majorly focuses on some of the prime regions including Latin America, Europe, Asia Pacific, North America, and the Middle East and Africa (MEA).
Market Overview & Forecast
As per the research evaluations, the market will expand at a CAGR of 4.7% from 2017 to 2025 and reach US$10.8 bn by the end of 2025. On the basis of geography, North America has been leading the global market for fiberglass. Also, this regional market is projected to remain dominant throughout the forecast period.
Fiberglass is produced by drawing fibers from molten glass. Over the years, the construction, wind energy, sports and leisure, marine, aerospace and defense, automotive and pipe sectors have surfaced as the main application areas of fiberglass across the world. With fiberglass being a significant component used in the body of vehicles, its demand is escalated substantially across the world. The continued rise in the demand for new vehicles is likely to support the growth of this market in the coming years too. Due to this, the automotive industry is reporting a higher demand for fiberglass at present and is projected to continue doing so over the next few years. Along with the automotive industry, the wind energy sector is also propelling this market to great extent.
Moving further, the report covers a prime segment of market dynamics which presents an analysis of drivers and restraints of the global fiberglass market. It also covers impact of these drivers and restraints on demand for fiberglass during the forecast period. In addition, the global market is broadly assessed on the basis of the type of glass, type of fiber used to produce fiberglass, technology, and application. Based on the type of glass, the market is categorized into S-Glass, C-Glass, E-Glass, ECR-Glass, and others. Out of these, the demand for E-glass and S-glass is higher, due to their properties. In terms of technology, pultrusion, resin transfer molding, layup, compression molding, filament winding, and injection molding are the prominent segments of this market
The final section of the report deals with the competitive landscape targeting the major players profiled in the report. Taishan Fiberglass Inc., Xingtai Jinniu Fiberglass Co., Ltd., Johns Manville, Owens Corning, Jushi Group Co., Ltd., Chongqing Polycomp International Corp., are some of the players outlined in the study.
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