fiberglass Market Analysis
The global fiberglass market is growing pervasively, mainly due to the varied applications of the product in the bourgeoning automotive industry. The most easily available and cheapest composite fabric, fiberglass, also finds its uses in a diverse range of industrial applications, which is acting as a key tailwind to the growth of the market. Moreover, massive consumption of fiberglass in end-use industries, such as aerospace, electrical, pharmaceutical, and others escalate the market on the global platform.
According to Market Research Future (MRFR), the global fiberglass market is poised to reach a valuation of approximately USD 20.32 BN by 2023. In its recently published report, MRFR also asserts that the market would register a CAGR over 9.2% throughout the forecast period (2016 – 2023). The growing automotive and electrical industry on account of developing domestic as well as commercial market is boosting the growth of the fiberglass market.
Additionally, fiberglass applications in insulation are providing a considerable impetus to the market growth. Besides, the impressive growth in construction activities globally is influencing the growth of the market, creating a substantial demand for higher thermal efficiency, lightweight, strength, durability, and eco-friendly insulation products. Spreading awareness towards energy-saving properties of fiberglass is also driving the market demand notably.
Conversely, increasing numbers of environment & health concerns alongside, fluctuating prices and the demand-supply gap in raw materials required for the production of fiberglass are acting as a key headwind, impeding the market growth. Nevertheless, huge spending in the defense sector for fiberglass products to be used in the latest armaments and weaponry systems would support the growth of the market throughout the review period.
Top Key Players
Players leading the global fiberglass market include AGY Holding Corp. (US), Jushi Group Co. Ltd (China), Saint-Gobain Vetrotex (Europe), Owens Corning (US), PPG Industries Inc. (US), Taiwan Glass Industry Corporation (Taiwan), PFG Fiber Glass Corporation (Taiwan), Taishan Fiberglass Inc (China), Fiber Glass Industries Inc (US), and W. L. Gore & Associates, Inc (US), among others.

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Report : https://www.marketresearchfuture.com/reports/fiberglass-market-3196

Regional Analysis

The Asia Pacific region leads the global fiberglass market, witnessing a huge demand from various end-use industries, such as the automotive, construction, and electrical industry. Rapidly developing countries China, India, and by Japan, witness an enormous market demand. Moreover, increasing demand from the construction sector in India, Indonesia, and Thailand support the growth of the APAC fiberglass market.
The fiberglass market in North America takes the second position, led by the increasing consumption of the product. Increasing production capacities, high consumption potential, and the well-developed economy are driving the regional market. Moreover, increasing demand for fiberglass-based construction materials would boost the regional fiberglass market over the forecast period.
The European fiberglass market is emerging as a profitable market globally. Large consumption of the product in pharmaceutical, construction and electrical industry is a major tailwind pushing up the regional market growth. Furthermore, the automotive and aerospace sectors propel the growth of the regional market, consuming fiberglass exponentially.

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