The Fiberglass Market Size was valued at USD 18.39 Billion in 2023. The Fiberglass industry is projected to grow from USD 18.84 Billion in 2024 to USD 24.68 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.20% during the forecast period (2024 - 2032). A Printing process of fiber-reinforced plastic known as fiberglass is used to strengthen fiber composed of glass fiber. The main component of fiberglass is silica, with minor amounts of calcium, magnesium, and boron oxides. A fiber with several uses is fiberglass. Excellent strength, low weight, bendability, and dimensional stability are only a few of its characteristics. It works with a polyester hardener.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Fiberglass goods are extensively employed in a variety of applications due to their higher strength-to-weight ratio, which is a crucial consideration in the manufacture of automobiles. Materials with great strength and low weight are used in the production process to enable the cars to achieve high mileage and improved fuel economy. To fulfill CAFE (Corporate Average Fuel Economy), which is pushing the usage of glass fiber composites in the automobile sector, several nations are concentrating on the manufacturing of lightweight cars. Hence, one of the key factors boosting the growth of the fiberglass market is the growing demand for lightweight and fuel-efficient automobiles.
The market segmentation, based on Type, includes E-Glass, A-Glass, C-Glass, S-Glass, T-Glass, AR-Glass, and D-Glass. The S-Glass segment is the largest and most important segment of the fiberglass market. It is responsible for the majority of fiberglass production and consumption. The segment is characterized by its high-quality products, which are used in a variety of applications.
Based on the Printing process, the market segmentation includes Tape, Cloth, and Rope. The Tape segment dominated the market. The significant growth of the Tape segment is attributed to the rising demand for fiberglass tapes from the construction and automotive industries.
Based on Application, the market segmentation includes Composites and Insulation. The Composites segment is the largest segment of the market. It includes a wide range of products, from building materials to automotive parts. Composites are made from a variety of materials, including glass, carbon, and Kevlar. They are used in a wide range of applications, from construction to aerospace.
Figure 2: Fiberglass Market, by Application, 2022 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The demand for fiberglass in Asia Pacific has been driven by several factors, including infrastructure development, urbanization, and growth in industries such as wind energy, transportation, and construction. Government initiatives to promote sustainable development have also contributed to the growth of the market in this region.
In addition, the Asia Pacific fiberglass industry has benefitted from investments in research and development, which have resulted in the development of new and innovative fiberglass products. However, as with any market, the fiberglass market is subject to fluctuations based on various factors such as raw material prices, environmental regulations, and technological advancements. Therefore, it is important to continue monitoring the market to assess any changes in trends or emerging players.
Figure 3: FIBERGLASS MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Major market players are spending a lot of money on R&D to increase their product lines, which will help the market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Fiberglass industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Fiberglass industry to benefit customers and expand the market sector. Major market players, including PPG Industries Inc, Jushi Group Co Ltd, Knauf Insulation, Saint-Gobain, and others, are attempting to increase market demand by funding R&D initiatives.
PPG Industries is a paint, coatings, and specialty materials manufacturer and distributor. Performance Coatings and Industrial Coatings are the two main sectors of the company. Coatings and specialty materials are supplied to customers in a wide range of end-uses, including industrial equipment and components, packaging material, aircraft, marine equipment, automotive original equipment, automotive refinish, pavement marking products, and coatings for other industrial and consumer products. PPG Industries also services commercial and residential new construction and maintenance clients by providing coatings to painting and maintenance companies as well as directly to consumers for decorating.
Knauf Insulation is an insulating product producer. It sells insulation made of glass mineral wool, rock mineral wool, wood wool, and blown wool. In addition, the firm offers thermal, acoustic, and fire-resistant insulation solutions for both residential and non-residential structures.
September 2021: Saudi Aramco inaugurated its new Fibre Glass Rebar Facility in Saudi Arabia.
August 2021: Owens Corning announced the launch of PINK Next Gen Fiberglas insulation.
Fiberglass Type Outlook
Fiberglass Printing process Outlook
Fiberglass Application Outlook
Fiberglass Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 18.39 Billion |
| Market Size 2024 | USD 18.84 Billion |
| Market Size 2032 | USD 24.68 Billion |
| Compound Annual Growth Rate (CAGR) | 4.20% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019 & 2022 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Printing process, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | PPG Industries Inc, Jushi Group Co.Ltd, Owens Corning, Nippon Electric Glass Co.Ltd, Johns Manville Corp, Taiwan Glass Ind.Corp, Knauf Insulation, Saint-Gobain, PFG Fiber Glass (Kunshan) Co.Ltd, Asahi Fiberglass Co.Ltd |
| Key Market Opportunities | · The construction industry in developing countries · Renewable source of energy |
| Key Market Dynamics | · Developing advanced glass fibers for the wind energy market |
Fiberglass Market Highlights:
Frequently Asked Questions (FAQ) :
The Fiberglass Market size was valued at USD 18.39 Billion in 2023.
The global market is projected to grow at a CAGR of 4.20% during the forecast period, 2024-2032.
Asia Pacific had the largest share of the Fiberglass Market.
The key players in the market are PPG Industries Inc, Jushi Group Co.Ltd, Owens Corning, Nippon Electric Glass Co Ltd, Johns Manville Corp, Taiwan Glass Ind Corp, Knauf Insulation, Saint-Gobain, PFG Fiber Glass (Kunshan) Co.Ltd, Asahi Fiberglass Co Ltd.
The S-Glass category dominated the market in 2023.
The Composites segment had the largest share of the global market for Fiberglass.
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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