Glass Fiber Market: Trends, Opportunities and Competitive Analysis to 2030

The global glass fiber market has experienced significant growth over the years, driven by its wide range of applications across industries such as construction, automotive, aerospace, and wind energy. This market report provides an in-depth analysis of the glass fiber industry, including market trends, market share, key players, and future growth prospects.

Glass Fiber Market Overview

According to the research team, the future of the global glass fiber market is promising with opportunities in the marine, transportation, pipe and tanks, aerospace, construction, electrical and electronics, consumer goods, and wind energy. The glass fiber market is expected to reach an estimated $15 billion by 2030 with a CAGR of 3% from 2023 to 2030. The major driver for this market is rise in demand for products made of glass composites; these include bathtubs, pipes, tanks, printed circuit boards, wind blades, and automotive parts.

Glass fiber, also known as fiberglass, is a versatile material made from fine fibers of glass. It offers properties such as high strength, corrosion resistance, thermal insulation, and electrical conductivity. Glass fibers find extensive usage in various industries for reinforcement purposes, including composite materials, insulation, and textiles. The glass fiber market has witnessed substantial growth due to the increasing demand for lightweight and high-performance materials in several applications.

Emerging Trends in the Global Glass fiber Market

The glass fiber market is poised for continued growth in the coming years. One of the primary drivers of market growth is the increasing demand for lightweight materials in various industries. Glass fiber composites are widely used to replace traditional materials such as steel and aluminum due to their superior strength-to-weight ratio. Industries such as automotive, aerospace, and wind energy are adopting glass fiber composites to improve fuel efficiency, enhance performance, and reduce overall weight.

Additionally, the construction industry plays a significant role in driving the glass fiber market. Glass fiber reinforcement is extensively used in concrete and other building materials to enhance structural integrity, increase durability, and reduce the risk of cracks and corrosion. With the rapid urbanization and infrastructure development across the globe, the demand for glass fiber in construction applications is expected to witness substantial growth.

Emerging trends, which has a direct impact on the dynamics of the industry, are the innovative trends focused on ultra-high modulus glass fiber and glass fiber based composites parts using 3D technology.

Global Glass Fiber Market by Segment

The study includes trends and forecast for the global glass fiber market by end use, manufacturing process, product type, and region as follows:

Global Glass Fiber Market by End Use [Value ($M) and Volume (M lbs) Shipment Analysis for 2018 - 2030]:

• Marine
• Transportation
• Pipe and Tank
• Aerospace
• Construction
• Electrical & Electronics
• Consumer Goods
• Wind Energy
• Others

Global Glass Fiber Market by Manufacturing Process [Volume (M lbs) Shipment Analysis for 2018 - 2030]:

• Hand Lay-Up
• Spray Up
• Resin Infusion
• Filament Winding
• Pultrusion
• Compression Molding
• Prepreg Layup
• Injection Molding
• Others

Global Glass Fiber Market by Product Type [Volume (M lbs) Shipment Analysis for 2023]:

• Single End Roving
• Multi End Roving
• DUCS
• Continuous Filament Mat
• Yarn

Global Glass Fiber Market by Region [Value ($M) and Volume (M lbs) Shipment Analysis for 2018 - 2030]:

• North America
• Europe
• Asia-Pacific
• Rest of the World

Glass Fiber Market Share

The global glass fiber market is witnessing robust growth, driven by the demand for lightweight, high-performance materials across industries such as construction, automotive, aerospace, and wind energy. Key players in the industry are investing in research and development to offer innovative glass fiber products and gain a competitive edge. The future of the market looks promising, with technological advancements and sustainability driving market expansion. Overall, the glass fiber market is poised for continued growth.

Glass Fiber Manufacturers

The global glass fiber market is highly competitive, with several key players vying for market share. Some of the leading companies in this market include Owens Corning, Jushi Group Co., Ltd., Nippon Electric Glass Co., Ltd., Taishan Fiberglass Inc., and Johns Manville Corporation. These players invest in research and development to innovate and offer advanced glass fiber products to cater to diverse customer requirements.

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies global glass fiber companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the global glass fiber companies profiled in this report include.

• Owens Corning
• Jushi Group Co. Ltd.
• Chongqing Polycomp International Corporation
• Taishan Fiberglass Inc.
• Taiwan Glass Group
• Nippon Electric Glass Co. Ltd.
• Sichuan Weibo. Co. Ltd.
• 3B the Fiber Glass Company (Goa Glass Fiber)
• Johns Manville Corporation
• Nitto Boseki Co. Ltd.

Global Glass Fiber Market Insight

• Construction is anticipated to remain the largest end use by value and volume due to growing infrastructure development and rising demand for energy-efficient buildings. Aerospace is expected to witness highest growth over the forecast period.
• Single end roving will remain the largest product type by volume over the forecast period.
• Asia-Pacific is expected to remain the largest region by value and volume over the forecast period because of growth in construction, pipe and tanks, and the electrical and electronics segments. Growing economy, growth in population, and urbanization are the major forces that drive the construction segment, especially in China and India and it is also expected to witness the highest growth over the forecast period.

Features of Global Glass Fiber Market

• Market Size Estimates: Glass fiber market size estimation in terms of value ($M) and volume (M lbs).
• Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
• Segmentation Analysis: Glass fiber market size by various segments, such as end use, manufacturing process, and product type in terms of value and volume.
• Regional Analysis: Glass fiber market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different end use, manufacturing process, product type, and regions for the glass fiber market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the global glass fiber market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

This report answers following 11 key questions:

Q.1 What are some of the most promising potential, high-growth opportunities for the global glass fiber market by end use (marine, transportation, pipe and tank, aerospace, construction, electrical and electronics, consumer goods, wind energy, and others), manufacturing process (hand lay-up, spray up, resin infusion, filament winding, pultrusion, compression molding, prepreg layups, injection molding, and others), product type (single end roving, multi end roving, DUCS, continuous filament mat, and yarn), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities have taken place in the last 5 years in this market?