Global Market Research Reports : Ken Research: Distributors of Fiber Glass Globally

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Tuesday, June 13, 2023

Global Fiber Glass Market is expected to reach ~USD 20 Bn by 2028F: Ken Research

Global Fiber Glass Market By Application

The Global Fiber Glass market is segmented by Application into Composites and Insulation.

The composites segment held the largest market share in the global fiber glass market in 2022, due to the rising automotive and construction industries.

The fiber glass composite materials help make automotive structures lighter in weight and exhibit high strength. With the rising environmental concerns, there is an increasing demand for lightweight composite materials across numerous industries for reducing carbon footprints.

Growing focus on the production of lightweight vehicles is driving the usage of fiberglass composites in the automotive industry.

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Global Fiber Glass Market By Geography

The Global Fiber Glass market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.

Asia Pacific held the largest market share among all other regions within the global fiber glass market in 2022, due to the growing demand for eco-friendly products that have led to technological advancements to augment the growth of the region.

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 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.

Competition Scenario in Global Fiber Glass Market

The Global Fiber Glass Market is highly competitive with ~150 players, including globally diversified players, regional players, and many country-niche players. Most of the regional players are the developers of Fiber Glass used in various end-user industries.

Country-niche players constitute ~35% of the total number of competitors, while regional players dominate representing ~50% of total competitors. Some of the major players in the market include ASAHI FIBER GLASS Co., Ltd., 3B - the fiberglass company, China Jushi Co., Ltd., Johns Manville, Knauf Insulation, Nippon Electric Glass Co. Ltd., Owens Corning, Saint-Gobain, xingtai jinniu fb glass, Taiwan Glass Industry Corporation, among others.

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What is the Expected Future Outlook for the Overall Global FIBER GLASS Market Across the globe?

The Global Fiber Glass market was valued at USD ~billion in 2022 and is anticipated to reach USD ~20 billion by the end of 2028, witnessing a CAGR of ~% during the forecast period 2022-2028. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Fiber Glass market is driven by the expansion of the construction sector. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

With the increasing collaboration and emergence of new products, the Global Fiber Glass market is changing rapidly. For instance, In January 2022, Therma-Tru, a renowned name in the door industry, announced the launch of its new sustainability-driven social initiative. Therma-Tru is known for its fiberglass door offerings that are made from 95% recycled content, and these sustainable offerings account for nearly half of its total fiberglass product portfolio.

In November 2021, Taishan Fiberglass Inc. invested US$ 250 million in the establishment of a Greenfield fiber manufacturing plant in Gujarat, India. With this plant, the company served the markets of India and the Middle East.

In July 2021, Owens Corning acquired Vliepa GmbH to broaden its non-woven product catalogue aimed to serve the building and construction sector in the European region.

The Global Fiber Glass Market witnessed a negative impact due to COVID-19 owing to the strict regulations in several countries that temporarily halted all types of processes and shut down all the major industries. E-Glass type is the most common type of fiber glass among other types such as S-glass, ECR-glass, H-glass, and AR-glass. Majorly, the fiber glass is used in composites that can further be utilized in various end-use industries such as automotive, building & construction, aerospace & defense, marine, sports & leisure, pipe & tank, and others. Though the market is competitive with over ~150 participants, regional players control the dominant share in the market and country-niche players also hold a significant share.

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Key Topics Covered in the Report

Snapshot of Global Fiber Glass Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Fiber Glass Market
Historic Growth of Overall Global Fiber Glass Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of Global Fiber Glass Industry
Overview, Product Offerings, Strengths, & Weaknesses of Key Competitors
Covid-19 Impact on the Overall Global Fiber Glass Market
Future Market Forecast and Growth Rates of the Total Global Fiber Glass Market and Segments
Analysis of Global Fiber Glass Market
Major Production/Supply and Consumption/Demand Hubs within Each Region
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Region

Notable Key Players Mentioned in the Report

Asahi Fiber Glass Co., Ltd.
3B - the fibreglass company
China Jushi Co., Ltd.
Johns Manville
Knauf Insulation
Nippon Electric Glass Co.,Ltd.
Owens Corning
Saint-Gobain
xingtai jinniu fb glass
Taiwan Glass Industry Corporation

Notable Emerging Companies Mentioned in the Report

Fureho AB
Spintex Engineering Ltd.
Darshan Safety Zone
Fibtex Products
Smartshield Insulation

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

Fiber Glass Manufacturers
Fiber Glass Suppliers
E-Glass Manufacturers
ECR-Glass Manufacturers
H-Glass Manufacturers
AR-Glass Manufacturers
S-Glass Manufacturers
Fiber Glass Distributors
Emerging and Startup Companies in Fiber Glass
Government Departments of Polymers
Ministries and Departments of Plastics
Importers and Distributors of Fiber Glass

Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022E-2028F

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Global Fiber Glass Market

Thursday, November 24, 2022

Key Insights on Competitive Landscape in Global Fiber Glass Market: Ken Research

Few Global Players Dominate the Market despite the Presence of about ~150 Competitors Comprising a Large Number of Regional Players and Some Specialist Players, finds a recent market study on the Global Fiber Glass Market by Ken Research

Fiber glass is a form of fiber-reinforced plastic whereas glass fiber is reinforced plastic. Fiberglass is lightweight, strong, and less brittle. The best part of fiberglass is its ability to get molded into various complex shapes. Fiberglass is lightweight, strong, and less brittle. The best part of fiberglass is its ability to get molded into various complex shapes.

Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.

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Global Players Constitute ~15% of the Total Number of Competitors, While Regional Players Dominate Representing ~50% of Total Competitors.

A comprehensive competitive analysis conducted during the Research Study found that the global Fiber Glass market is competitive with ~150 players, including globally diversified players, regional players, and many country-niche players. The regional players comprise about ~50% in terms of the number of companies followed by country-niche players with ~35% of the total competitors. The players in the industry develop fiber glass material for applications including insulation and as composites for industries such as automotive, building & construction, aerospace & defense, and others.

The Rising Demand for Composite Materials in Construction and Infrastructure Industry is expected to be the Primary Driver of the Market.

Detailed comparative analysis of key competitors available within the Research Study shows that major players such as 3B - the fiber glass company, Johns Manville, Owens Corning, Saint-Gobain, and others are highly focused on developing fiber glass products that can be used across multiple end-user industries, such as aerospace & defense, automotive & transportation, building & construction, and more. Furthermore, several companies and organizations are aggressively focusing on acquisitions and mergers with specialized players to invest in fiber glass products.

In June 2022, Owens Corning announced an agreement to build a joint venture with Pultron Composites for the manufacturing of fiberglass rebar. With the agreement, the company commits to providing high-performance concrete reinforcement products in a sustainable manner.

In May 2022, Owens Corning acquired the composites business of the Asahi Fiber Glass Company Ltd. in Japan. The acquisition expands the product portfolio of Owens Cornings with the addition of Liquid Crystalline Polymer, Polyphenylene Oxide (PPO) polymer products, Long-fiber thermoplastic compounds, Rubber-coated glass-fiber solutions, and others.

In August 2020, a USA-based OEM supplier of custom fiber-reinforced plastic (FRP), National Composites acquired Sunrise Fiberglass. With the acquisition, the company has the capacity to serve industries such as marine and recreation, hospitality, electric and specialty vehicles, medical, and others.

Increased Government Initiatives and New Strategical Investments in the Building & Construction Industry Led to Major Product Development and Glass Fiber Technology Enhancement in the Market.

An initiative by the USA government to provide affordable homes to its residents, propelled the demand for glass fiber composites in the region. For instance, in September 2021, the House Democrats passed the Build Back Better Act, which allocated financial aid of US$ 170 billion for affordable housing. Under the guidelines of the act, the government targets to build over one million affordable homes, which is expected to boost the demand for composites and insulation materials in the construction and infrastructure industry.

In September 2022, the government of China announced to invest US$ 1,430 billion in major construction projects till 2025. According to the National Development and Reform Commission (NDRC), Shanghai has a total investment plan of US$ 38.7 billion to construct key infrastructures, whereas Guangzhou, signed 16 new infrastructure projects with the given investment of US$ 8.09 billion. All the construction projects will boost the demand for composite materials to be used in cement and other infrastructures.

In January 2021, Johns Manville launched a thermal recycling unit of glass fiber waste. The unit provides a projected recycling capacity of more than three tons per hour and help keeping more than 10,000 tons of waste out of landfills annually.