ÌÇÐÄvlog´«Ã½

Glass Fiber Market Analysis

The Glass Fiber Market size is estimated at USD 29.21 billion in 2024, and is expected to reach USD 35.68 billion by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).

• The significant factors expected to drive the glass fiber market are the increasing demand from the construction industry and the rising demand for fiberglass composites from the automotive industry.
• However, the low-profit margin on sales and competition from carbon fiber and rock wool are likely to restrain the growth of the glass fiber market in the upcoming period.
• The increase in the use of lightweight glass fiber-reinforced plastic (GFRP) composites and the increase in the demand for composite materials from the wind energy sector are opportunities for the market to be studied in the upcoming period.
• Asia-Pacific is likely to dominate the glass fiber market.

Glass Fiber Industry Segmentation

Glass fiber, also known as fiberglass, is a material composed of extremely fine glass fibers. These fibers can be woven into a fabric or used as a reinforcing material in composite materials. Glass fibers are known for their high strength, lightweight, and corrosion resistance properties, making them suitable for a wide range of applications across industries such as construction, automotive, aerospace, marine, electronics, and telecommunications. They are commonly used in insulation, composites, reinforcement materials, and optical fibers.

The glass fiber market is segmented by type, application, end-user industry, and geography. On the basis of type, the market is segmented into chopped strands, glass wool, roving, and yarn. On the basis of application, the market is segmented into composites and insulation. On the basis of the end-user industry, the market is segmented into building and construction, automotive, aerospace and defense, alternative energy, consumer goods, industrial, and other end-user industries (electronics). The report also covers the market size and forecasts for the glass fiber market in 15 countries across major regions. For each segment, the market sizing and forecast have been done on the basis of value (USD).