Fiberglass Market Size, Analysis, Share, Research, Business Growth and Forecast to 2028

According to research study by Fortune Business Insights™ the global fiberglass market price is expected to reach USD 25,525.9 million by 2028, exhibiting a CAGR of 4.9% during the forecast period. The increasing application of fiberglass composites in the automotive industry will accelerate the market growth during the forecast period, states Fortune Business Insights, the market size stood at USD 17,316.8 million in 2020.

Information source:

https://www.fortunebusinessinsights.com/fiberglass-market-102338 

Market Segments:

E-glass to Hold the Largest Share in the Global Market

Based on product, the market is divided into E-glass, and specialty. E-glass is expected to account for a major share during the forecast period. E-glass offers exceptional performance qualities. The increasing use of environmentally friendly boron-free E-glass fiber is expected to bolster the segment's healthy growth. Based on the product, the market is classified into glass wool, yarn, roving, chopped strands, and others. Glass wool is expected to hold a significant share.

Surging Transportation Industry to Aid Market Growth

The stringent regulation by governments to reduce carbon emissions will create demand for low-emission lightweight vehicles, which, in turn, will enable speedy expansion of the market. Composite fiberglass is widely used to produce lightweight cars as a substitute for aluminum and steel in the automotive industry. For instance, Weber Aircraft, a leader who designs and manufactures the aircraft seating system, California, and Strongwell produced fiberglass pultrusion, marking the first development of fiberglass pultrusion for commercial aircraft applications.

 

Publicado en Technology en septiembre 20 at 06:17
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