During the forecast period, the global fiberglass market is expected to grow steadily. The demand for cleaner forms of energy is driving the global fiberglass market. The installation of wind turbines to generate electricity has increased, and fiberglass is extensively being used in making wind turbine blades. This is expected to positively influence the market growth through 2027. Furthermore, the high tensile strength, light weight, corrosion-resistant properties, and aesthetic value of fiberglass are expected to increase demand in various end-user industries such as automotive, aerospace, building & construction, oil & gas, water & wastewater, among others. However, the high cost of fiberglass can hamper the market growth during the forecast period. Availability of substitutes such as carbon fiber and aluminium can further restrict the market growth over the next few years. Moreover, the sudden outbreak and spread of pandemic COVID-19 has led to the shortage of supply of raw material from Chinese manufacturers, which has led to a demand-supply gap. This, in turn, is expected to negatively impact the market growth since manufacturers are expected to be stranded on raw material orders.
Browse more than 120 market data Tables and Figures spread through 110 Pages and an in-depth TOC on“Global Fiberglass Market, 2027” – https://www.techsciresearch.com/report/global-fiberglass-market/2646.html
The market is segmented based on type, glass fiber type, resin, application, end-user industry, company, and region. The glass wool segment is expected to dominate the market based on type, while the composites segment is expected to dominate the market based on application. Regionally, Asia Pacific is expected to dominate the market share in the overall fiberglass market owing to the well-established automotive industry in the region, especially in countries like India and China. While North America is expected to hold a significantly large market share owing to the extensive use of fiberglass in building insulation. The major players operating in the fiberglass market are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Objective of the Study:
- To analyze and estimate the market size of global fiberglass market from 2017 to 2020.
- To estimate and forecast the market size of global fiberglass market from 2021 to 2027 and growth rate until 2027.
- To classify and forecast global fiberglass market based on type, glass fiber type, resin, application, end user industry, company and regional distribution.
- To identify dominant region or segment in the global fiberglass market.
- To identify drivers and challenges for global fiberglass market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global fiberglass market.
- To identify and analyze the profile of leading players operating in global fiberglass market.
- To identify key sustainable strategies adopted by market players in global fiberglass market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of global fiberglass market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Fiberglass manufacturers/ suppliers/ distributors
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to fiberglass
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
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About TechSci Research:
TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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