Fiberglass Market worth US$ 17.5 Billion 2029 with a CAGR of 4.3 %

Published Date: May 2023

The report "Global Fiberglass Market, By Type (Glass Wool, Yarn, Roving, and Chopped Strands), By Application (Insulation and Composites), By End-Use (Automobiles, Building and Construction, Aerospace, and Wind Energy), and Region - Global Forecast to 2029"

Global fiberglass market is projected to grow from US$ 12.0 billion in 2020 to US$ 17.5 billion by 2029. Increasing adoption of fiberglass in construction sector across the globe drives the global fiberglass market. Further, fiberglass used for manufacturing of automobile and aircraft body parts due to its excellent properties such as high strength and lightweight boost the global fiberglass market.

Key Highlights:

  • In May 2017, Owens Corning acquired high-performance cellular glass manufacturer Pittsburgh Corning. This acquisition will further expand Owens Corning’s commercial and industrial product offering and grow presence in Europe and Asia.

Key Market Insights from the report:          

The global fiberglass market accounted for US$ 12.0 billion in 2020 and is projected to register a moderate CAGR of 4.3% over the forecast period. The market report has been segmented on the basis of type, application, end-use, and region.

  • By type, the glass wool segment is accounted for major share in the global fiberglass market, owing to rising utilization of glass wool in construction sector for insulation.
  • By application, the composites application segment is accounted for major share in the global fiberglass market due to fiberglass composite is used in manufacturing of automotive parts owing to its excellent properties such as lightweight and high strength-to-weight.
  • By end-use, the automobiles end-use segment is accounted for major share in the global fiberglass market, attributed to fiberglass used in manufacturing of automobile parts such as wheelhouse assemblies, front fascia, battery boxes, decks, body panels, load floors, and dash panel assemblies.
  • By region, Asia Pacific fiberglass market is expected to account for major share in terms of revenue in the global fiberglass market over the forecast period. This can be attributed to rising adoption of fiberglass from electricity sector and construction sector in countries such as India and China of the region. North America fiberglass market is expected to accounted for second-highest share in terms of revenue in the global fiberglass market in the near future.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Fiberglass Market”, By Type (Glass Wool, Yarn, Roving, and Chopped Strands), By Application (Insulation and Composites), By End-Use (Automobiles, Building and Construction, Aerospace, and Wind Energy), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)- forecast till 2029

The prominent player operating in the global fiberglass market include Braj Binani Group, Owens Corning, Compagnie de Saint-Gobain S. A., Nippon Electric Glass Co., Ltd., China Jushi Co., Ltd, Celstar Group Inc, KAGY Holding Company, Inc, Yuntianhua Group Co., Ltd., Koch Industries, Inc, and PFG Fiber Glass Corporation.

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