DUBLIN, Jan. 3, 2020 /PRNewswire/ -- 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 global 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% during the forecast period.

Factors driving the market are the growth of the construction industry, and an increase in the number of wind turbine installations across the world is increasing the demand for fiberglass used in turbine blades.

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.Key Topics Covered

1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 4.1 Attractive Opportunities in Fiberglass Market4.2 Fiberglass Market, By Product Type4.3 Fiberglass Market, By Application4.4 Fiberglass Market, By Region4.5 Asia Pacific Fiberglass Market, By Country & Product Type5 Market Overview 5.1 Introduction5.2 Evolution5.3 Market Dynamics5.3.1 Drivers5.3.1.1 Extensive Use of Fiberglass in the Construction Industry5.3.1.2 Increased Use of Fiberglass Composites in the Automotive Industry5.3.2 Restraints5.3.2.1 Issues in Recycling Glass Wool5.3.3 Opportunities5.3.3.1 Increasing Number of Wind Turbine Installations5.3.4 Challenges5.3.4.1 Capital-Intensive Production and Complex Manufacturing Process, of Fiberglass6 Industry Trends 6.1 Introduction6.2 Porter's Five Forces Analysis6.2.1 Bargaining Power of Suppliers6.2.2 Threat of New Entrants6.2.3 Threat of Substitutes6.2.4 Bargaining Power of Buyers6.2.5 Rivalry Among Existing Competitors7 Fiberglass Market, By Glass Type 7.1 Introduction7.2 E-Glass7.3 ECR-Glass7.4 H-Glass7.5 AR-Glass7.6 S-Glass7.7 Others8 Fiberglass Market, By Resin Type 8.1 Introduction8.2 Thermoset Resins8.2.1 Polyester8.2.2 Epoxy8.2.3 Polyurethane8.2.4 Vinyl Ester8.2.5 Phenolic8.3 Thermoplastic Resins9 Fiberglass Market, By Product Type 9.1 Introduction9.2 Glass Wool9.2.1 Glass Wool is Used as A Thermal Insulator in Residential Walls and Ceilings to Reduce Power Consumption9.3 Direct and Assembled Roving9.3.1 High Demand From the Construction, Infrastructure, and Wind Energy Sectors is Expected to Drive the Growth of the Direct and Assembled Roving Segment9.4 Yarn9.4.1 The Rising Demand for Yarns From the Electronics and Construction Sectors is Expected to Drive the Growth Of, the Yarn Segment9.5 Chopped Strand9.5.1 The Rise in Automobile Production in Asia Pacific and Europe is Contributing to the Growing Demand for Chopped Strands9.6 Others10 Fiberglass Market, By Application 10.1 Introduction10.2 Composites10.2.1 Construction & Infrastructure10.2.1.1 Lightweight, High Tensile Strength, and High Strength to Weight Ratio Properties Makes Fiberglass Composites Preferable in Construction and Infrastructure Applications10.2.2 Automotive10.2.2.1 Weight Reduction, Increased Processing Speed, and Low Voc Emissions From Vehicles Encourages Adoption of Fiberglass in Automotive Applications10.2.3 Wind Energy10.2.3.1 High Tensile Strength of Fiberglass Composites is Driving Its Demand for Wind Turbine Blades Manufacturing10.2.3.2 Trends in Wind Energy Industry10.2.4 Electronics10.2.4.1 High Thermal Resistance and Electrical Conductivity Properties of Fiberglass Increases Its Adoption in Electronics Application10.2.5 Aerospace10.2.5.1 S-Glass and E-Glass are the Most Widely Used Glass Types in Aerospace Applications10.2.6 Others10.3 Insulation10.3.1 Residential Construction10.3.1.1 The Residential Construction Segment Led Fiberglass Insulation Market in 201810.3.2 Non-Residential Construction10.3.2.1 The Non-Residential Construction Segment Accounted for the Second-Largest Share of the Fiberglass Insulation Market in 201810.3.3 Industrial10.3.3.1 High Demand for Glass Wool Fiber to Manufacture Industrial Pipes, Power Plant Boilers, and Smoke Flues is Driving the Industrial Insulation Application Segment10.3.4 Others11 Fiberglass Market, By Region 11.1 Introduction11.2 Asia Pacific11.2.1 China11.2.1.1 China Dominated the Asia Pacific Fiberglass Market in 201811.2.2 Japan11.2.2.1 Extensive Automotive Manufacturing in the Country is Fueling, the Demand for the Fiberglass in Japan11.2.3 India11.2.3.1 Growth of the Construction, Pipe & Tanks Manufacturing, and Wind Energy Industries in India is Driving the Growth of the Fiberglass Market11.2.4 South Korea11.2.4.1 High Demand for Fiberglass From the Electronics Industry is Fueling the Fiberglass Market in South Korea11.2.5 Indonesia11.2.5.1 The Expansion of the Construction Industry in Indonesia Propelling the Demand for the Fiberglass in the Country11.2.6 Australia11.2.6.1 High Demand for the Fiberglass From Aerospace & Defense, Wind Energy, Transportation, and Construction Industries is Driving, the Growth of the Fiberglass Market11.2.7 Malaysia11.2.7.1 Growth of Transportation and Aerospace Industries in the Country is Majorly Contributing to the Fiberglass Market Growth11.2.8 Rest of Asia Pacific11.3 Europe11.3.1 Germany11.3.1.1 Germany is the Largest Consumer of Fiberglass in Europe11.3.2 France11.3.2.1 By Product Type, the Glass Wool Segment Dominated the Fiberglass Market in France in 201811.3.3 UK11.3.3.1 The UK is the Third-Largest Consumer of Fiberglass in the European Region11.3.4 Italy11.3.4.1 By Product Type, the Chopped Strand Segment of the Fiberglass Market in Italy is Projected to Grow at the Highest Rate During, the Forecast Period11.3.5 Russia11.3.5.1 Growing Adoption of Carbon-Fiber Technologies is Driving to the Fiberglass Market in the Country11.3.6 Spain11.3.6.1 By Product Type, the Glass Wool Segment Dominated the Fiberglass Market in Spain in 201811.3.7 Rest of Europe11.4 North America11.4.1 US11.4.1.1 The US Accounted for the Largest Share of the Fiberglass Market in 201811.4.2 Canada11.4.2.1 Canada Accounted for the Second-Largest Share of the Fiberglass Market in North America in 201811.4.3 Mexico11.4.3.1 By Application, the Composites Segment Dominated the Fiberglass Market in Mexico in 201811.5 Middle East & Africa11.5.1 Saudi Arabia11.5.1.1 Saudi Arabia is Estimated to Account for the Largest Share of the Fiberglass Market in the Middle East & African Region in 201911.5.2 UAE11.5.2.1 The UAE is the Second-Largest Market for Fiberglass in the Middle East & African Region11.5.3 Egypt11.5.3.1 Increased Spending on Infrastructure Development in the Country is Contributing in the Growth of the Fiberglass Market11.5.4 Rest of Middle East & Africa11.6 South America11.6.1 Brazil11.6.1.1 Brazil Accounted for the Largest Share of the South American Fiberglass Market in 201811.6.2 Argentina11.6.2.1 Argentina is the Second-Largest Market for Fiberglass in South America11.6.3 Colombia11.6.3.1 By Product Type, the Glass Wool Segment Dominated the Fiberglass Market in 201811.6.4 Rest of South America12 Competitive Landscape 12.1 Overview12.2 Competitive Landscape Mapping, 201912.2.1 Visionary Leaders12.2.2 Innovators12.2.3 Dynamic Differentiators12.2.4 Emerging Companies12.3 Strength of Product Portfolio12.4 Business Strategy Excellence12.5 Market Ranking of Key Players12.6 Competitive Scenario12.6.1 Expansions12.6.2 New Product Launches12.6.3 Agreements12.6.4 Acquisitions12.6.5 Investments12.6.6 New Product Developments12.6.7 Partnerships13 Company Profiles 13.1 China Jushi Co., LTD.13.2 Owens Corning13.3 Nippon Electric Glass Co., LTD.13.4 Taishan Fiberglass Inc. (CTG)13.5 Chongqing Polycomp International Corp. (CPIC)13.6 Binani 3b-The Fibreglass Company13.7 Taiwan Glass Ind. Corp.13.8 Johns Manville Corp.13.9 PFG Fiber Glass (Kunshan) Co., LTD.13.10 Asahi Fiberglass Co., LTD.13.11 Knauf Insulation13.12 Saint-Gobain Vetrotex13.13 Certainteed Corporation13.14 Saint-Gobain Adfors13.15 AGY Holding Corp.13.16 Other Companies13.16.1 Saint-Gobain Isover13.16.2 Soda Sanayii As13.16.3 Saertex GmbH & Co.Kg13.16.4 Nitto Boseki Co., LTD.13.16.5 KCC Corporation13.16.6 Jiangsu Changhai Composite Materials Co., LTD.13.16.7 Fiberex Corporation13.16.8 Bgf Industries, Inc.13.16.9 Arabian Fiberglass Insulation Co., LTD. (AFICO)

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