Global Fiberglass Building Products Market Overview:
Fiberglass, which also known by the name glass-reinforced plastics (GRP) or glass-fiber-reinforced plastic (GFRP), is a composite material made of fine glass fibers woven into mat or used as reinforcement into a plastic resin. This combination involves the capability to strengthen and generate a shape that is as strong and durable as that of glass, and as moldable and flexible as that of plastic. A-Glass and C-Glass-based fiberglass building products are widely used in applications such as insulation, cladding, and roofing due to their notable strength, longevity and being lightweight. Though historically wood and metals are predominant in the construction industry, the increasing popularity of fiberglass becomes evident from its growing presence in manufactured components for prefabrication and modular structures, prompted by urbanization and infrastructural expansion.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increasing demand from the construction due to it lightweight, high strength, and durability and The use of fiberglass in prefabricated and modular building components is increasing
Market Growth Drivers:
Swift Towards urbanization, leading to increased infrastructure development, consequently driving the demand for fiberglass roving and Increasing utilization of fiberglass in renovation and remodeling endeavors
Challenges:
Fiberglass degrades due to prolonged exposure to the sunlight and Fiberglass is prone to cracking and breaking under high impact or excessive stress
Restraints:
Fiberglass is non – biodegradable and challenging to dispose, which poise environmental concerns
Opportunities:
Advancements in fire-resistant fiberglass make it safer for use in buildings with strict fire regulations and Increasing uses of the fiberglass for better thermal performance, which improve the energy efficiency
Competitive Landscape:
The fiberglass building products market is consolidated. Big companies like Owens Corning and Pultron invest a lot in R&D. They come up with innovative products, develop manufacturing techniques. This helps them to grow and expand their reach globally. The smaller companies respond to these opportunities with technological advancements, customization and local or niche markets. Particularly, the industry faces the challenge of producing sustainable solutions, and therefore plays the leading role in development of composites and technologies that make them high performance, which use different digital tools initiate design and manufacturing processes’ transformations.
Some of the key players profiled in the report are China Jushi Co., Ltd. (China), Owens Corning (United States), AUGUSTA FIBERGLASS COATINGS (United states), CT Composites (England), Fiberglass Innovations (United States), PPG Industries (United States), CTG Group (Taishan Fiberglass)(China), Nippon Electric Glass Co.,Ltd. (Japan), Johns Manville. A Berkshire Hathaway Company (United States) and Knauf Insulation (United States). Additionally, following companies can also be profiled that are part of our coverage like AGY (United States), 3B - the fibreglass company (Germany), Fiber Glass Coatings Inc (Russia), BGF Industries. (United States) and LANXESS (Germany). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Fiberglass Building Products market by 2030. Considering Market by Material Type, the sub-segment i.e. A-Glass Fiber will boost the Fiberglass Building Products market.
Latest Market Insights:
On August 6, 2022, Owens Corning and Pultron Composites will jointly cover the fiberglass rebar production, which would be the combination of the sustainability and the reinforced concrete. The business will come with PINKBAR product for the use of flats and residences and the MATEENBAR series for heavy-duty structural use according to industry standards. The President of Owens Corning Composites, Marcio Sandri, highlights the fact that mutual growth in material technology and synergies is the prime criteria. Areas of focus for Mr. Jasper Holdsworth, CEO of Pultron Composites, as 1 billion dollars market in the U. S. are his primary target. Due to its virtue, fiberglass has raised itself as a substitute to steel which is used in industrial construction with extraordinary development, projections, and estimates.
What Can be Explored with the Fiberglass Building Products Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Fiberglass Building Products Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Fiberglass Building Products
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Fiberglass Building Products market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Fiberglass Building Products market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Construction Companies and Contractors, Architects and Engineers, Manufacturers, Investors and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.