Global Fibreglass Market - 2019-2026
発行: DataM Intelligence
Fibreglass is produced from reinforced plastics with special composition materials made up of individual components resin silica sand, soda ash limestone and many other raw materials. Thus the combination of materials gives the fibreglass high-strength, high flexible material, low-weight ratio, and high resistant to chemicals. The fibreglass has certain chemical and physical properties like it has good insulator of electricity, dimensional stability, thermal conductivity, and dielectric permeability. The fiberglass is less expensive and light weight, as compared to wood and stainless steel materials. Hence it has substantial used in food processing & beverage industry, metals and mining, manufacturing, cooling towers, power generation, automotive industry, pulp and paper industry and chemical industry. The global Fibreglass market valued USD XX million in 2018 and it is expected to grow at a CAGR of XX% to reach USD XX million by 2026.
The market is driven by the rising demand for lightweight materials in end-user industries like automotive, aerospace & defense, packaging, and food & beverages industries. The fibreglass is commonly found in automotive industry for making vehicle's body parts, components & panels, suspension systems, and car doors. According to the International Organization of Motor Vehicle Manufacturers (OICA), global light commercial and passenger vehicles production and sales in 2019 was registered as around 20 million and 67 million respectively.
There is a rise in the adoption high-performance materials and fiberglass products for increasing building and construction, aerospace & defense, and automotive industry. For instance on 4th March 2020, Cascadia Windows & Doors manufacturer from North America had been launched world's first fiberglass storefront glazing solution. The solution has been a high-performance with higher thermal and water penetration resistance used for commercial and multi-family buildings.
The global Fibreglass market is segmented based on type, forms, resin, end-users and region.
In terms of type the global fibreglass market is bifurcated into S-Glass, T-Glass, E-Glass, A-Glass, AR-Glass, D-Glass, C-Glass and others. Among these, E-glass segment has the highest market share in 2019 owing to increasing the utilization in the industrial sheets, automobile components, plastic panels for the construction & infrastructure as well as in the automotive industry. According to the Global Infrastructure Hub, the global infrastructure investment is increasing with an average of around USD 3.7 trillion annually and is expected to reach with around USD 94 trillion from 2016 to 2040. Thus to develop such huge Infrastructure fibreglass demand will boost globally.
Similarly, S-Glass, T-Glass, A-Glass, AR-Glass, D-Glass, C-Glass segments are also growing at faster pace due rising demand for wide range of applications including roofing, pipes, pulp & paper, automobiles, orthopedic casts, aircraft, boats, swimming pools, bath tubs & enclosures hot tubs, septic tanks, water tanks, cladding, and surfboards.
Depending upon the form, the global fibreglass market is divided into tape, rope, cloths and others. Among this, fibreglass tape has the highest market share in 2019. This is due to increasing demand for the thermal insulation for packaging, hot pipelines & vessels in power plants and many others.
Similarly, rope and cloth fibreglass segments are also growing at faster pace owing to increasing demand for industrial, non-apparel applications like boat hulls, interiors of conveyor belts, automobile bodies, surfboards, paper honeycomb and circuit boards.
This is primarily due to its properties like high fire resistance, tensile strength, good thermal conductivity, high heat resistance, durability, etc.
Depending on the resins types, global speciality fats market is divided into Epoxy, Vinyl Esters, Polyurethanes, Polyester and others. Among this Epoxy segment has the highest market share in 2019. This is primarily due to extensive usage in the heavy applications like boat construction & repair, manufacturing of railway trains and many others. According to the U.S. Department of Energy in 2010, the total estimated production of epoxy fiber glass were 34256 BTU\lb whereas Vinyl Esters, Polyurethanes and Polyester was around 9,158 11,398, 10,751 respectively in the United States. This is continuously increasing due to rising building and construction, automotive as well as aerospace & defense industry.
Depending on the end-users, the global fibreglass is segmented into Wind Energy, Electronics, Aerospace & Defense, Construction & Infrastructure, Automotive and others. Among this, Construction & Infrastructure segment has the highest market share in 2019. This growth is anticipated due rise in global population which requires materials for construction of huge infrastructures especially in the developing countries. According to the Global Infrastructure Hub Report, the global infrastructure investment is around USD 3.7 trillion per year and out of which the Asia Pacific region accounts for 54% of global infrastructure investment.
Similarly, automotive, wind energy, electronics and Aerospace & Defense segments are also growing at faster pace owing to surge in the demand for energy, utility and growing automobile sector. According to the Office of Energy Efficiency and Renewable Energy in 2010, automotive, wind energy, electronics and Aerospace & Defense segments accounts for an estimated 737 million pounds of glass fibers were used. These fibreglass has substantially used for building various components like automobile engine compartments and body panel liners, ship and submarine bulkheads and hulls, in furnaces and air conditioning units, acoustical wall and ceiling panels.
By region, the global fibreglass market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, Asia Pacific is the dominated region for the global fibreglass market and expected to grow at the highest CAGR during the forecasted period with growing demand for automotive, building & construction consumer durables and consumer electronics with surge in population followed by North America region. Many Companies are planning to expand the production capacity for meeting the global demand of fibreglass due to growing the manufacturing facilities in the Asia Pacific region especially in China and India. For instance on 20th Nov 2019, Jushi group has been planned to build the production of all types of fiberglass raw materials in Maharashtra with a capacity of 1,00,000 MT in India by 2020. The Company has production plants for manufacturing of fibreglass products and has capacity of 2 million MT with plants situated in Egypt, China, and the US.
North America is the also growing at faster pace for the fibreglass market, owing to rising consumer spending with growing energy demand and growing fibreglass production in this region. According to the Office of Energy Efficiency and Renewable Energy in 2010, United States manufacturers produced an estimated total of 1,925 million pounds of glass fibers used in the construction industry for cement reinforcement and insulation; such fibers would not be integrated into a polymer matrix.
The global Fibreglass market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition. Jushi Group Co., Johns Manville, Asahi Fiberglass Co. Ltd, Nippon Electric Glass Co, Taishan Fiberglass Inc., CertainTeed Corporation, Shandong Fiberglass Group Co., Glasstex Fiberglass Materials Corp., Owens Corning, Saint-Gobain Vetrotex, Chongqing Polycomp International Corp., and Xingtai Jinniu Fiberglass Co. are the leading market players with significant market share.
Companies are entering into the collaborations, acquisitions, mergers, and licensing for increasing their market penetration. For instance, on 30th March 2017, Diamond Fiberglass Company has been acquired Fibrex Corp for fulfilling the growing demand of the FRP piping system. This has been added with Fibrex product line IntegraHeader, and IntegraLine products to Diamond fiberglass product portfolio. Furthermore, on 4th July 2019 Teijin the leading fibreglass manufacturer has been acquired Benet Automotive for the expansion of the European Automotive Business with advanced technologies. This acquisition has been expanded the manufacturing capabilities of vehicles with the help of advanced reinforced reaction injection molding (RRIM) machine for plastic molding reinforced glass-fiber- and carbon-fiber.