Northrook, IL -- (SBWIRE) -- 12/11/2019 -- The report "Fiberglass Market by Glass Type (E-Glass, ECR-Glass, H-Glass, AR-Glass, S-Glass), Resin Type, Product Type (Glass Wool, Direct and Assembled Roving, Yarn, Chopped Strand), Application (Composites, Insulation), and Region - Global Forecast to 2024" The fiberglass market is projected to grow from USD 17.1 billion in 2019 to USD 23.9 billion by 2024, at a CAGR of 7.0% from 2019 to 2024. The growth of the construction industry as well as increased use of fiberglass composites in the automotive industry are driving the market across the globe.

Browse 260 Market Data Tables and 30 Figures spread through 229 Pages and in-depth TOC on "Fiberglass Market - Global Forecast to 2024"

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The glass woolfiberglass segment is projected to lead the fiberglass market in terms of both value and volume from 2019 to 2023.
Based on product type, the glass wool fiberglass segment accounted for the largest share of the fiberglass market in 2018. The glass wool segment is projected to lead the market in terms of both value and volume during the forecast period. The growth of this segment can be attributed to the high thermal insulation properties and the increased usage of glass wool in the construction & infrastructure end-use industry.

The composites application segment is projected to lead the fiberglass market in terms of both value and volume during the forecast period.
Based on application, the composites application segment led the fiberglass market in 2018 in terms of both, value and volume. The growth of this segment can be attributed to the demand from wind turbine blade manufacturers.

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The fiberglass market in Asia Pacific is projected to grow at the highest CAGR in terms of both, value and volume during the forecast period. The fiberglass market in Asia Pacific is projected to grow at the highest CAGR in terms of both, value and volume from 2019 to 2024. China, India, and Japan are key countries contributing to the increased demand for fiberglass in this region. Factors such as increasing construction and industrial activities in the Asia Pacific region have increased the demand for fiberglass in this region. The growth of the automotive industry is driving the fiberglass market in this region.

China Jushi Co., Ltd. (China), Owens Corning (US), Nippon Electric Glass Co., Ltd. (Japan), Taishan Fiberglass Inc. (CTG) (China), Chongqing Polycomp International Corp. (CPIC), (China), Johns Manville Corp. (US), Binani 3B-the Fibreglass Company (Belgium), Taiwan Glass Ind. Corp. (Taiwan), PFG Fiber Glass (Kunshan) Co. Ltd. (China), Asahi Fiberglass Co. Ltd., (Japan), Knauf Insulation (Belgium), Saint-Gobain Vetrotex (US), CertainTeed Corporation (US), Saint-Gobain ADFORS (US), and AGY Holding Corp. (US) are some of the leading players operating in the fiberglass market. These players have adopted strategies such as expansions, new product launches, agreements, acquisitions, investments, new product developments, and partnerships to enhance their position in the market.

Recent Developments:
- In April 2017, Owens Corning introduced the first and only formaldehyde-free Thermafiber light density mineral wool insulation solution in the North American region. It is resistant to fire and offers high-performance. The product launch strengthened its product portfolio for the construction industry.
- In October 2016, Nippon Electric Glass Co., Ltd., acquired the European glass fiber business of PPG Industries, Inc. (US), which helped strengthen its global supply network by establishing a manufacturing base in the European region. This also enabled the company to increase sales of its main chopped strand products.

Key Questions Addressed by the Report
- How developments undertaken by various companies are expected to affect the fiberglass market in the mid- to long-term?
- What are the upcoming technologies of fiberglass?
- What is the impact of changes in government policies on the fiberglass market?
- What is the estimated size of the fiberglass market in 2019?
- What are the different applications of fiberglass?

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