The global fiberglass market is anticipated to exhibit considerable CAGR during the forecast period (2020-2026). Fiberglass is a form of fiber-reinforced plastic where glass fiber is the reinforced plastic. The favorable characteristics of the fiberglass including its lightweights, high water-resistance, high heat-resistant, fire-resistant, flexibility and high material strength make them suitable to be used in different industries such as automobiles, electronics, and construction industry. Owens Corning, Binani Industries Ltd., Compagniede Saint-Gobain S.A., Nippon Electric Glass Co. Ltd, Taiwan Glass Industry Corp., Chongqing Polycomp International Corp. (CPIC), Jiangsu Jiuding New Material Co., Ltd., Johns Manville Corp., Jushi Co. Ltd, Knauf Insulation, Lanxess AG, Nippon Electric Glass Co., Ltd. and so on are the key players operating in the global fiberglass market.
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The key market players are striving to offer a better quality of fiberglass for which these players are adopting different strategies such as mergers & acquisitions, partnerships, collaboration, product innovation and new product launches. Among, these strategies merger & acquisition and new product launches are the core strength of the key players operating in the global fiberglass market. For instance,in 2020, Compagniede Saint-Gobain introduced a new fiberglass brick cladding, co-developed with Weberwall, a British startup. It is lightweight brick’s look-alike product, which can be used in both interior and exterior construction. Moreover, its installation process is three times faster than the traditional process. In addition to this, its heat-resistant property keeps a balanced room temperature.
In October 2019, Owen Corning had launched its new product PulStrand PRO41. It is a single-end roving, designed for pultrusion, and it is used in the fields, includes Pultrusion applications in polyester, polyurethane, resin injection technology, and more, and Pultruded structural application in ladder rails, rebar, poles and more. In July 2018, Fiberglass Buildding Products Inc. under its brand name Fiberglass gutter had started to provide the full aesthetic appeal of wood with strength and durability of fiberglass. FiberGutter is fiberglass which is easy to install with no involvement of any other additional cost.
Additionally, fiberglutter requires no painting and oiling which makes them long-lasting material. Fibergutter is being made up of pultruded, a polyester resin-based fiberglass. The fiberglutter products are lower in cost in comparison to wood, copper, and high-end aluminum. The company is offering gutters up to 40-foot lengths, with a single fastener and no brackets for easy cleaning. Apart from this, in June 2017,Nippon Electric Glass Co. Ltd. acquired US & European fiberglass operations of PPG Industries, Inc.’s.
Global Fiberglass Market Segmentation
By Type
By End-User
Global Fiberglass Market – Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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