Fiberglass Market Size, Share & Trends Analysis Report By Application (Insulation, Liquid, Composites), By Type (Glass Wool, Yarn, Roving, Chopped Strands), By End-Use, By Region, And Segment Forecasts, 2018 - 2025

Industry Insights

The global fiberglass market size was estimated at USD 12.73 billion in 2016. The increasing use of fiberglass for the manufacturing of automobile and aircraft body parts owing to its high strength and lightweight properties is estimated to drive the market growth. In addition, extensive use of fiberglass in the building and construction sector for insulation and composite applications is likely to further propel the market further over the next eight years.

The market is expected to register growth due to the presence of stringent emission regulations set by authorities. This factor is compelling automobile manufacturers to choose fiberglass material for use in the production of vehicles. Moreover, growing awareness about renewable energy sources among the general public is pushing wind turbine installations globally. Fiberglass is extensively used in the manufacturing of wind turbine blades and other structural components. 

Fiberglass is widely used in insulation application in building and construction sector. Glass wool is mostly used in thermal and electrical insulation application in building and construction sector. Glass wool is spread in the attic of the building to maintain temperature inside the building. The market is expected to grow on account of increased construction spending in both developed and developing countries. In addition, new end use of fiberglass owing to its intrinsic properties of lightweight and high strength. The use of fiberglass in consumer durable products and electronics products is expected to drive the market over the forecast period.

The Asia Pacific is the largest consumer and producer of fiberglass owing to the presence of rapidly growing economies in the region such as China and India. Factors, such as the rising population, are likely to be the major drivers for the market in this region.

The availability of substitutes, such as aluminum and carbon fiber, are, however, likely to be one of the restraints to the market globally. Carbon fiber is lighter, stronger, and costlier in comparison to fiberglass. On the other hand, aluminum is low cost and available in abundance. The element is, however, heavier in comparison to fiberglass.

Application Insights

The composites application segment is likely to be the fastest-growing over the forecast period. This can be attributed to the growing use of composites in a wide array of end-use industries. Fiberglass composite is used in the manufacturing of automotive parts owing to its lightweight and high strength-to-weight ratio. The aesthetic appeal of fiberglass is the key factor responsible for the increased use of fiberglass composite products in homes and offices. Moreover, the use of fiberglass composites in consumer durables and other new end-use sectors is expected to drive the market over the forecast period. Fiberglass insulation is extensively used in residential, commercial, and industrial buildings for thermal and electrical insulation. Glass wool is majorly used for fiberglass insulation.

Type Insights

Glass wool is expected to be the largest-type segment, in terms of volume, over the forecast period. This can be attributed to the rising use of glass wool in the construction sector for insulation. The increasing construction spending in developing economies is the key factor, which is expected to propel the demand for glass wool.

Chopped strand is known to provide ideal material for vehicle manufacturing and reinforcement in the construction sector. Chopped strand is the fastest-growing fiberglass type segment due to the rapid adoption of fiberglass composites in various industries such as automobile, wind energy, aerospace, and consumer durables. The growing automotive industry in the Asia Pacific and Europe is expected to drive the segment in the market.

End-use Insights

Automotive is the largest end-use segment. The use of fiberglass in automobile manufacturing is increasing owing to the strict emission standards set by regulatory authorities such as the U.S. EPA and EEA. Fiberglass is used to manufacture automobile parts such as decks, body panels, load floors, dash panel assemblies, wheelhouse assemblies, front fascia, and battery boxes.  The increasing automotive sale in the Asia Pacific is anticipated to drive the fiberglass market.

Building & construction is one of the largest consumers of fiberglass products. Fiberglass finds application in the sector for thermal and electrical insulation. Moreover, fiberglass composites are used in many building applications such as roofs, walls, panels, windows, and ladders.

Regional Insights

The Asia Pacific is likely to be the leading region in over the next eight years. The huge consumption in the region can be attributed to increased industrialization and a large population. The rising disposable income coupled with the presence of key players in the Asia Pacific is likely to drive the regional market over the forecast period. Additionally, the growing construction and automobile sectors in the region, especially in China and India is anticipated to drive the market further.

North America is the second-fastest growing regional market. This can be attributed to the extensive use of fiberglass insulation in buildings and growing automotive sales in the region. In terms of volume, the region registered 1,138.7 kilotons in terms of demand in 2016.  Europe is the second-largest market due to the presence of a large automobile industry.

Fiberglass Market Share Insights

The market is oligopolistic in nature with the presence of both global and local players. Some of the major players in the industry include Binani 3B; Owen Corning; Saint-Gobain; Nippon Electric Glass Co. Ltd.; and China Jushi among others. Market players are focusing on developing high-quality and high-performance products by using advanced technologies.

A large number of companies have adopted advanced technologies for the manufacturing of products as per customer requirements. The companies are investing heavily in research & development to introduce innovative products in the market.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global fiberglass market on the basis of application, type, end-use, and region:

• Application Outlook (Volume, Kilotons; Revenue, USD Billion; 2014 - 2025)

  • Insulation

  • Composites

• Type Outlook (Volume, Kilotons; Revenue, USD Billion; 2014 - 2025)

  • Glass wool

  • Yarn

  • Roving

  • Chopped Strands

• End-use Outlook (Volume, Kilotons; Revenue, USD Billion; 2014 - 2025)

  • Automobiles

  • Building and Construction

  • Aerospace

  • Wind Energy

• Regional Outlook (Volume, Kilotons; Revenue, USD Billion; 2014 - 2025)

  • North America

    • The U.S.

  • Europe

    • Germany

    • The U.K.

    • France

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

  • Central & South America

  • Middle East & Africa