Fiberglass Market Worth $15.57 Billion by 2020

CHICAGO, August 19, 2015 /PRNewswire/ --

The report "Fiberglass Market by Type (Roving, Yarns), by Application (Composites, Insulations & by Region - Trends & Forecast to 2020", defines and segments the Fiberglass market with analysis and forecast of the market size. The global Fiberglass Market value is projected to reach $15.57 Billion by 2020.

Browse 86 Tables and 53 Figures spread through 160 Pages and in-depth TOC on "Fiberglass Market"

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The Global Fiberglass Market is largely dominated by the developed markets. Asia-Pacific and North America collectively held 78.1% of the global market share in 2015. Despite some production capacities present in developing countries, such as China and India, these capacities have proved to be more export-oriented than in the favor of promoting domestic growth for fiber glass. China has developed significant market share in the global fiberglass market, however, the competition from carbon fiber and rock wool restricts this market's growth.

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Asia-Pacific is the dominant market for fiberglass, globally. The growth is due to the increasing applicability of fiberglass in various industries such as building and construction sector. The industrial development of this region is pulling up the demand of various composite materials used in this sector

North America is one of the fastest-growing consumers of fiber glass across the globe. This trend is expected to continue in the near future. Asia-pacific is the biggest market for fiber glass and accounted for a share of about 55.0% of the total market size, in terms of volume, in 2015. China is the highest revenue-generating market for fiber glass in Asia-Pacific. It is also estimated to be the fastest-growing market for fiber glass in the region. Continuous product developments by the participant companies are increasing the market applications base for fiber glass, thereby boosting the volume consumption in the region.

Asia-Pacific and North America are at the forefront of the global fiberglass market, while China and Japan are the key markets in Asia-Pacific. China consumed more than half of the demand for fiber glass in Asia-Pacific, followed by Japan where consumption is growing at a steady rate. Increase in the consumption of fiber glass in composites has been observed in Asia -Pacific due to increasing applicability of fiberglass in various industries such as building and construction sector.

Jushi group (China), Owens Corning (U.S.), and Saint-Gobain Vetrotex (France) recently invested in expansion, new joint ventures, agreements, partnerships, and merger & acquisition of small players to dominate the fiberglass market. North America is the fastest-growing market due to the easy availability of high-quality raw materials and increasing demand for fiber glass from developed and developing countries in the region, such as U.S. and Canada and others. To meet this growing demand, top manufacturers from the Asia-pacific and Europe are now focusing on the North American market. The demand for fiber glass in this region is projected to register a CAGR of 6.5% by volume between 2015 and 2020.

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