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Fiberglass Fabric Market Size

Report ID: GMI7931
Published Date: Jan 2024
Report Format: PDF

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Fiberglass Fabric Market Size

Fiberglass Fabric Market was valued at around USD 14.4 billion in 2023 and is estimated to register 6.3% CAGR between 2024 and 2032. The demand for fiberglass fabric is propelled by various industries, with notable support from government initiatives promoting renewable energy and infrastructure development.

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In the wind energy sector, for instance, government-backed projects and policies aimed at reducing carbon emissions have significantly increased the demand for fiberglass fabric for wind turbine blades. According to the U.S. Energy Information Administration (EIA), in 2021, wind energy accounted for 9% of the total U.S. electricity generation. Additionally, in the construction industry, government investments in infrastructure development and initiatives promoting sustainable building materials contribute to the rising demand for fiberglass fabric in reinforcing concrete structures.

Fiberglass Fabric Market Report Attributes
Report Attribute	Details
Base Year:	2023
Fiberglass Fabric Market Size in 2023:	USD 14.42 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.3%
2032 Value Projection:	USD 25 billion
Historical Data for:	2018 – 2023
No. of Pages:	200
Tables, Charts & Figures:	191
Segments covered:	Fiber Type, Application, Fabric Type
Growth Drivers:	Rising Demand in Wind Energy Sector Expanding Use in Transportation and Automotive Applications Increasing Construction Activities Worldwide
Pitfalls & Challenges:	Environmental Concerns and Recycling Challenges

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While fiberglass fabric offers various advantages, its production involves energy-intensive processes and the use of resins that can pose environmental challenges. Additionally, recycling fiberglass fabric presents difficulties due to its composite nature. The disposal and end-of-life management of fiberglass products raise concerns about environmental sustainability. Addressing these challenges and developing efficient recycling methods will be crucial for the fiberglass fabric industry to align with evolving environmental regulations and sustainability goals across industries.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Industry size for fiberglass fabric was valued at around USD 14.4 billion in 2023 and is estimated to reach USD 25 billion by 2032, owing to notable support from government for promoting renewable energy and infrastructure development.

E-glass segment held a notable market share and was worth USD 8.9 billion in 2023, due to the exceptional balance of properties, making it versatile for a wide range of applications.

Asia Pacific market for fiberglass fabric was valued at USD 5.1 billion in 2023 and is anticipated to expand at a significant pace from 2024-2032, attributed to the rapid industrialization and urbanization in countries like China and India.

AGY International, Vetrotex Saint-Gobain Composites, China Fiberglass Corporation, Tsurumi Seisakusho Co., Ltd, Johns Manville, Saint-Gobain, Jushi Group, Owens Corning and Nippon Electric Glass Co., Ltd.