Fiberglass Market – 2013-2019, Global Industry Analysis, Size, Share, Trends

Fiberglass, which is also known as glass reinforced plastics, is manufactured by reinforcing the plastic matrix using fine fibers of glass. Fiberglass being light weight, robust material and extremely strong are used extensively for manufacturing a wide range of products. The raw material required to manufacture fiber glass is easily available at low cost, thus, making it favorable than carbon fibers for various applications. Moreover, fiberglass being less brittle, has good bulk strength and weight properties which helps it to easily replace metals used in manufacturing several products such as septic tanks, roofing, pipes, high performance aircraft, automobiles, external door skins and water tanks among others.

Fiberglass finds major applications such as construction, automobiles, infrastructure, consumer goods and other transportation sectors among others. The growing construction and automobile industry are expected to be the key driver for the growth of fiberglass market. The growing demand for light weight and fuel efficient vehicle is expected to boost the demand of these materials in automobile industry. The increasing demand for fiberglass in China is expected to play a crucial role in augmenting the overall growth of the market. Rapid growth in demand for fiber glass in China is mainly due to the growing construction, wing energy sector and electrical goods industry. Asia Pacific is expected to be the leading manufacturer as well as consumer of the fiberglass market over the next few years.

The global fiberglass market is intensively competitive with the existing major players competing majorly on the basis of quality, scale of operations, technology, price and innovation among others. The overall fiberglass market is highly concentrated owing to the presence of few large players in the market which account for major share in the market due to their huge production capacities. Chinese players are expected to dominate the global manufacturing of fiberglass market. Owens Corning Corporation, Fiber Glass Industries Inc., Jushi Group Co. Ltd., China National Materials Group Corp. and Guardian Global are the key players of fiberglass market.

Source: Transparency Market Research

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