Global Fiberglass Market Size To Exceed USD 23.44 Billion By 2033 ; Market Study Report

Global Fiberglass Market Size - Insights Report 2024 - 2033

According to a research report published by Spherical Insights & Consulting, the Global Fiberglass Market Size Expected to Grow from USD 11.98 Billion in 2023 to USD 23.44 Billion by 2033, at a CAGR of 12.03% during the forecast period 2023-2033.            

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on "the Global Fiberglass Market Size, Share, and COVID-19 Impact Analysis, By Glass Type (E Glass, ECR Glass, H Glass, AR Glass, and S Glass), By Product Type (Glass Wool, Direct & Assembled Roving, Yarn, and Chopped Strand), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033". 

The fiberglass market is a global industry dealing with the manufacturing, distribution, and application of fiberglass materials. Fiberglass is a reinforced plastic material made of fine glass fibers woven into a fabric or embedded in resin. It is extensively used in several industries because it is lightweight, high strength, corrosion resistant, and has excellent thermal insulation properties. Moreover, rising demand in the construction sector for insulation and reinforced composites; automotive and aerospace industries for light, high-strength materials; and wind energy for turbine blades are driving demand in the market. Growth will be further promoted by increasing infrastructure projects, improving composite technology, and the increased focus on fuel efficiency and sustainability. Corrosion resistance and thermal insulation characteristics also improve marine, industrial, and electrical industries' adoption rates. Increasing government regulations promoting energy efficiency and renewable energy also propel market expansion globally. However, the restraints to the fiberglass market include high production costs, concerns over disposal and emissions due to environmental factors, health hazards of fiber inhalation, and alternative materials like carbon fiber and metal composites.

The E glass segment accounted for the largest share of the global fiberglass market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.         

On the basis of glass type, the global fiberglass market is divided into E glass, ECR glass, H glass, AR glass, and S glass. Among these, the E glass segment accounted for the largest share of the global fiberglass market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. This is due to its cost-effectiveness, high strength, and electrical insulation properties. The main applications include construction, automotive, aerospace, and wind energy, and the overall balanced performance at an affordable price makes it a favorite choice in various composite and insulation applications all over the world.  

The glass wool segment accounted for a substantial share of the global fiberglass market in 2023 and is anticipated to grow at a rapid pace during the projected period.     

On the basis of product type, the global fiberglass market is divided into glass wool, direct & assembled roving, yarn, and chopped strand. Among these, the glass wool segment accounted for a substantial share of the global fiberglass market in 2023 and is anticipated to grow at a rapid pace during the projected period.  This is because it is widely applied in thermal and acoustic insulation of construction, industrial, and HVAC applications. Due to its lightweight, fire resistance, and cost-effectiveness, it is one of the choices for energy-efficient buildings, leading to demand from both residential and commercial sectors globally.

Asia Pacific is projected to hold the largest share of the global fiberglass market over the projected period.

Asia Pacific is projected to hold the largest share of the global fiberglass market over the projected period. This is due to rapid industrialization, urbanization, and infrastructure development in countries like China, India, and Japan, the region is witnessing huge growth in the construction, automotive, and wind energy sectors, with low production costs and high domestic demand, making it the dominant player in the world.

North America is expected to grow at the fastest CAGR growth of the global fiberglass market during the projected period. This is attributed to growing demand in the construction, automotive, aerospace, and renewable energy industries. Investments in infrastructure, high energy efficiency standards, and rising adoption of lightweight composites fuel market growth. Moreover, development in fiberglass-reinforced materials and wind energy development in the region has further accelerated its growth.

Competitive Analysis

Major vendors in the global fiberglass market are Owens Corning, Saint-Gobain, Nippon Electric Glass, Jushi Group Co. Ltd., 3B-The Fiberglass Company, PPG Industries, Johns Manville, Taishan Fiberglass Inc., Chongqing Polycomp International Corp., Knauf Insulation, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In April 2023, Saint-Gobain announced the acquisition of U.P. Twiga Fiberglass Ltd., a leader in India's glass wool insulation market. This strategic move is to strengthen Saint-Gobain's position in interior and façade solutions by responding to growing demand for energy-efficient and acoustic comfort solutions. Twiga operates two manufacturing facilities close to Delhi and Mumbai and has employed Saint-Gobain technology since 2005. The deal was expected to be completed at the end of Q1 2023 in line with Saint-Gobain's commitment to sustainable construction practices.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global fiberglass market based on the below-mentioned segments:

Global Fiberglass Market, By Glass Type

• E Glass
• ECR Glass
• H Glass
• AR Glass
• S Glass

Global Fiberglass Market, By Product Type

• Glass Wool
• Direct and Assembled Roving
• Yarn
• Chopped Strand

Global Fiberglass Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa