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Fiberglass Market Size

Report ID: GMI7189
Published Date: Oct 2023
Report Format: PDF

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Fiberglass Market Size

Fiberglass Market was valued at USD 27.10 billion in 2023 and is anticipated to grow a CAGR of over 6.5% between 2024 and 2032.

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The fiberglass industry exhibits promising growth opportunities driven by expanding applications in construction, automotive, wind energy, and aerospace industries. Increasing emphasis on lightweight and eco-friendly materials has bolstered fiberglass demand, while its corrosion resistance properties appeal to sectors requiring durable solutions.

Fiberglass Market Report Attributes
Report Attribute	Details
Base Year:	2023
Fiberglass Market Size in 2023:	USD 27.1 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	6.5%
2032 Value Projection:	USD 47.5 Billion
Historical Data for:	2018 – 2022
No. of Pages:	120
Tables, Charts & Figures:	251
Segments covered:	Glass type, Product type, Application, End user Industry & Region
Growth Drivers:	Construction and Infrastructure Development Automotive Lightweighting Wind Energy Expansion
Pitfalls & Challenges:	Quality Control and Standards Global Economic Uncertainty

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However, competition from alternative materials, fluctuating raw material costs, and regulatory challenges pose potential pitfalls. To navigate these challenges and maintain market leadership, the industry must continue innovating sustainable solutions, ensuring quality control, and adapting to shifting economic and environmental landscapes while meeting rising global demand for versatile and reliable fiberglass composites.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of fiberglass was worth USD 27.10 billion in 2023 and is anticipated to witness over 6.5% CAGR between 2024 and 2032, driven by higher application scope in construction, automotive, wind energy, and aerospace sectors.

The E Glass type segment held around 65% of the fiberglass market share in 2022 owing to its adoption in a wide range of industries including construction, automotive, and aerospace.

The construction end-user segment recorded 31.7% of the fiberglass industry share in 2022 owing to extensive use in insulation, panels, and roofing applications, especially in energy-efficient and sustainable building practices.

North America industry share recorded around 32.1% of the fiberglass in 2022 due to the presence of well-established end-user sectors and the strong focus on innovation and technology.