The global Glass Fiber market stood at approximately 4780 thousand tonnes in 2022 and is anticipated to grow at a healthy CAGR of 3.8% during the forecast period until 2032.
Glass fiber, renowned for its robustness and versatility, is a ubiquitous material with multifaceted applications across diverse industries. In the construction realm, glass fiber reinforces materials like concrete and plaster, fortifying the structural integrity of buildings. Its insulation variants, such as glass wool and fiberglass, are instrumental in providing thermal insulation for buildings, pipes, and equipment, contributing to energy efficiency. The automotive industry leverages glass fiber composites to fashion lightweight components, enhancing fuel efficiency and overall performance. Similarly, the aerospace sector relies on glass fiber-reinforced composites for aircraft components, benefiting from their impressive strength-to-weight ratio. Marine applications capitalize on the corrosion resistance and durability of glass fiber composites in the construction of boats and marine vessels. Wind energy systems benefit from glass fiber-reinforced composites in the production of wind turbine blades, owing to their strength and lightweight attributes. On the basis of type, Glass Fiber market is segmented into Glass Wool, Chopped Strands, Roving, and Yarns.
In the electronics domain, glass fiber finds utility in circuit boards and electronic components, offering insulation and maintaining signal integrity. Sporting goods, including golf clubs and fishing rods, incorporate glass fiber composites for their lightweight and durable properties. Glass fiber-reinforced plastics (GRP) find application in pipes and tanks across industries due to their corrosion resistance, particularly in chemical and water treatment applications. Beyond industrial use, glass fiber is integral to medical devices where a combination of strength, flexibility, and biocompatibility is essential. In consumer goods, it contributes to the manufacturing of kitchenware, luggage, and furniture. Furthermore, the military and defence sector utilize glass fiber composites for lightweight and high-strength components, exemplified by vehicle parts and body armor. The myriad applications of glass fiber underscore its pivotal role in advancing technology, construction, transportation, and various other sectors. The global Glass Fiber market size is anticipated to reach nearly 6950 thousand tonnes by 2032.
Based on region, Asia Pacific region is the biggest consumer of Glass Fiber and is poised to assert dominance in the global Glass Fiber market throughout the forecast period. The Asia Pacific region is poised to dominate the global Glass Fiber market throughout the forecast period, driven by rapid industrialization, urbanization, and substantial growth in key industries. With ongoing construction and infrastructure development, glass fiber plays a crucial role in providing strength to buildings and structures. The automotive industry's boom in the region sees an increasing use of glass fiber composites for lightweight and fuel-efficient components. Additionally, the expanding wind energy sector relies on glass fiber for wind turbine blades, aligning with the region's focus on renewable energy. The rising middle-class population fuels demand for consumer goods like electronics and sporting goods, where glass fiber's lightweight and durable properties make it an essential component. This confluence of factors positions the Asia Pacific region as a leader in driving the sustained growth and adoption of glass fiber in diverse applications.
Based on the end-user industry, the global Glass Fiber market is divided into Building & Construction, Transportation, Industrial Application, Consumer Goods, Renewable Goods, and Others. However, Building & Construction Industry holds the largest segment of the global Glass Fiber market followed by
Major players in the Global Glass Fiber market are AGY, ASAHI FIBER GLASS Co., Ltd., Binani Industries Ltd., Chongqing Polycomp International Corp. (CPIC), Johns Manville, China Jushi Co., Ltd., Nippon Electric Glass Co., Ltd., Owens Corning, PFG FIBER GLASS CORPORATION, Saint-Gobain Vetrotex, CTG Group, and TAIWAN GLASS IND. CORP.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Glass Fiber which covers production, demand and supply of Glass Fiber market in the globe.
• To analyse and forecast the market size of Glass Fiber
• To classify and forecast Global Glass Fiber market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Glass Fiber market in the globe.
To extract data for Global Glass Fiber market, primary research surveys were conducted with Glass Fiber manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Glass Fiber market over the coming years.
ChemAnalyst calculated Glass Fiber demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Glass Fiber. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Glass Fiber manufacturers and other stakeholders
• Organizations, forums and alliances related to Glass Fiber distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Glass Fiber manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Glass Fiber market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
4780 thousand tonnes
Market size Volume in 2032
6950 thousand tonnes
Growth Rate
CAGR of 3.8% from 2023 to 2032
Base year for estimation
2022
Estimated Year
2023
Historic Data
2015 – 2021
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by Type, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Building & Construction, Transportation, Industrial Application, Consumer Goods, Renewable Goods, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of Glass Fiber in terms of volume in 2022?
Ans:
The global market size of Glass Fiber had reached approximately 4780 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Glass Fiber?
Ans:
Asia Pacific region is the largest consumer of Glass Fiber globally.
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