The fiberglass market is estimated to grow at a CAGR of around 10% during the forecast period. The extensive use of fiberglass for manufacturing applications in the construction and automobile industry is a key factor attributing to the growth of the global fiberglass market. Additionally, fiberglass is used on a large scale in industries like aerospace & defense, marine, food, electronics body part, and more to produce lightweight body parts. Fiberglass has significant applications in the construction sector. It is used in commercial, industrial as well as in residential construction for both exterior and interior components. From the swimming pool fence to the skylight to solar heating elements it is largely used for making its body parts. Vetrotex fiberglass is one of the fiberglasses that is used in the construction industry, for its flexible, hard, water-resistant, and fire-resistant properties. Also for its lightweight property fiberglass is used as a structural shell.

Free Sample Copy @ https://www.omrglobal.com/request-sample/fiberglass-market

The global fiberglass market is further segmented on the basis of geography including North America, Europe, Asia-Pacific and Rest of the World. Asia Pacific market is anticipated to hold considerable market share based on geography. India, China, and Japan are the main consumers of fiberglass in the Asia Pacific region. Growth of the construction industry, installation of the solar panel and wind turbine along with the growing demand for electric cars are the major driver for the growth of the fiberglass market in this region. The major companies that manufacture wind turbines are Ming Yang, Goldwind and Uniter power from China, and Sulzon Group from India. In the solar panel market currently, China is the largest market player across the globe, major companies are JinkoSolar, Trina Solar, LONGi Solar and more. Furthermore, three major global constructions are from the Asia Pacific region only, which are Power China, China Communications Constructions Company and L&T Construction. Moreover, Nissan, headquartered in Japan is one of the major manufacturers of the electric car that will create demand for the fiberglass market in the region. Furthermore, in Kerala, India in a bid to curtail the spread of the coronavirus all taxi drivers are suggested to install a fiberglass partition between the driver and second-row passengers, which will further contribute to the market growth in the region.

A Full Report of Global Fiberglass Market is Available at:
https://www.omrglobal.com/industry-reports/fiberglass-market

The stringent government regulations across the globe also play a significant growth factor for the growth of the global fiberglass market. Many industries like construction, automobile, and electronics have regulations to use fiberglass for its body parts owing to its very hard and eco-friendly nature of the fiberglass. The growing market for electric cars is one of the key factors creating demand for fiberglass owing to its lightweight characteristics, thereby, driving the growth of the fiberglass market. Moreover,now renewable energy is a global trend that increased installations of wind turbines across the globe. Moreover, due to fiberglass’s hard and lightweight characteristics, it is being extensively used in manufacturing the blades of wind turbines and other parts.

However, the availability of its substitute products, such as carbon fiber and aluminum is the major factor restraining market growth. In comparison with fiberglass, carbon fiber is stronger and lighter, though it is costlier than fiberglass. Easy availability of aluminum is one of the major restraining factor market growth, though it is heavier than fiberglass, and aluminum is not that much heat-resistant as fiberglass, also aluminum makes reactions with water, but fiberglass not.

Global Fiberglass Market – Segmentation
By Application 
Food and Beverages
Chemical
Pharmaceutical
Others
Global Fiberglass Market – Segmentation by Region 
North America 
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific 
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Company Profiles
Advanced Glassfiber Yarns Holding Corp.
Asahi Fiberglass CO., Ltd.
Binani Industries Ltd.
Chongqing Polycomp International Corp. (CPIC)
Compagnie de Saint-Gobain S.A.
Fiberglass Building Products Inc.
Jiangsu Jiuding New Material Co., Ltd.
Johns Manville Corp.
Jushi Co. Ltd
Knauf Insulation
Lanxess AG
Nippon Electric Glass Co., Ltd.
Owens Corning
PFG FIBER GLASS Corp.
Phelps
Sichuan Weibo New Materials Group Co., Ltd.
Taishan Fiberglass Inc.
Taiwan Glass Ind Corp.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/fiberglass-market

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

Media Contact:

Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: [email protected] 
Contact no: +91 780-304-0404