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Fiberglass Market Trends

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

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Fiberglass Market Trends

A growing emphasis on sustainability and environmental concerns is driving demand for recyclable and eco-friendly fiberglass materials. Furthermore, the continued expansion of the wind energy sector is boosting demand for fiberglass composites in the production of wind turbine blades. In addition, innovative applications in automotive lightweighting, aerospace, and construction are propelling the use of fiberglass, given its strength-to-weight ratio. Advances in materials science and technology are leading to the development of high-performance fiberglass products, while stringent regulatory standards are pushing the industry toward more compliant and safety-focused solutions. Overall, the fiberglass industry is witnessing a shift towards sustainable, high-performance, and versatile materials that cater to evolving customer demands and environmental considerations.

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.