Global $23.9B Fiberglass Market by Glass Type, Resin Type, Product Type, Application and Region - Forecast to 2024 - ResearchAndMarkets.com

The "Fiberglass Market by Glass Type (E-Glass, ECR-Glass, H-Glass, AR-Glass, S-Glass), Resin Type, Product Type (Glass Wool, Direct and Assembled Roving, Yarn, Chopped Strand), Application (Composites, Insulation), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The fiberglass market is projected to grow from USD 17.1 billion in 2019 to USD 23.9 billion by 2024, at a CAGR of 7% from 2019 to 2024. The growth of the construction industry is driving the fiberglass market.

The leading fiberglass manufacturers include China Jushi Co., Ltd. (China), Owens Corning (US), Nippon Electric Glass Co., Ltd. (Japan), Taishan Fiberglass Inc. (CTG) (China), Chongqing Polycomp International Corp. (CPIC), (China), and Johns Manville Corp. (US). These players are adopting the strategies of new product lunches, expansions, and agreements to maintain their competitive position in the fiberglass market.

The glass wool fiberglass segment is projected to lead the fiberglass market in terms of both value and volume from 2019 to 2024

Based on product type, the glass wool fiberglass segment accounted for the largest share of the fiberglass market in 2018. This segment is projected to lead the market in terms of both value and volume during the forecast period. The growth of this segment can be attributed to increased usage in the construction & infrastructure end-use.

The composites application segment is projected to lead the fiberglass market in terms of both, value and volume during the forecast period

Based on application, the composites application segment led the fiberglass market in 2018 in terms of both value and volume. The high growth of the construction and automotive industries in Asia Pacific and North America is driving this segment.

The E-glass segment is projected to lead the fiberglass market in terms of both value and volume from 2019 to 2024

Based on glass type, the E-glass segment accounted for the largest share of the fiberglass market in 2018. This segment is projected to lead the market in terms of both value and volume during the forecast period. The growth of this segment can be attributed to its wide-ranging applications and corrosion-resistance and lightweight properties.

The thermoset resins application segment is projected to lead the fiberglass market in terms of both value and volume during the forecast period

Based on resin type, the thermoset resins segment led the fiberglass market in 2018 in terms of both value and volume. Properties such as excellent resistance to solvents, abrasives, high temperature, and heat, flexibility, excellent adhesion, and high strength, as well as the availability of thermoset resins in various types make it preferable for use across applications.

Asia Pacific is projected to lead the fiberglass market during the forecast period, in terms of both, value and volume

The Asia Pacific region is projected to lead the fiberglass market from 2019 to 2024 in terms of both, value and volume. The demand for fiberglass is increasing in Asia Pacific, owing to the growth of construction and automotive industries in the region.