The market for Fiberglass Fabric is currently worth US$10.27 billion, and by 2032, it is expected to grow at a strong CAGR of 7.2% to reach US$20.69 billion. The fiberglass fabric market is a growing industry that produces and sells woven and non-woven fabrics made from glass fibers. Fiberglass fabric is widely used in various industries such as construction, aerospace, automotive, marine, and filtration.
The fiberglass fabric market is driven by several factors, including the increasing demand from the construction industry for durable and high-strength reinforcement materials, the rising demand for lightweight and high-strength composite materials in various applications such as aerospace, automotive, and marine, and the growing need for energy-efficient and sustainable insulation materials. The construction industry is a major end-use industry for fiberglass fabric, where it is used as a reinforcement material for concrete structures such as walls, floors, and roofs. The growing demand for durable and high-strength construction materials due to the rapid urbanization and industrialization in developing countries is expected to drive the demand for fiberglass fabric in the construction industry.
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Some key factors driving the growth of the fiberglass fabric market include:
- Increasing demand from the construction industry: Fiberglass fabric is widely used in the construction industry as a reinforcement material for concrete structures. The growing demand for durable and high-strength construction materials is expected to boost the demand for fiberglass fabric.
- Growing demand for composite materials: Fiberglass fabric is an essential component of composite materials that are used in various applications such as aerospace, automotive, and marine. The increasing demand for lightweight and high-strength materials is expected to drive the growth of the fiberglass fabric market.
- Rising demand for insulation materials: Fiberglass fabric is also used as an insulation material in various industries such as automotive, aerospace, and construction. The growing need for energy-efficient and sustainable insulation materials is expected to drive the demand for fiberglass fabric.
- Technological advancements in the manufacturing process: The development of advanced manufacturing processes such as advanced weaving technologies and computer-controlled production lines has led to the production of high-quality and cost-effective fiberglass fabric, which is expected to drive market growth.
- Increasing demand from emerging economies: The fiberglass fabric market is expected to witness significant growth in emerging economies such as India, China, and Brazil due to the rapid industrialization and urbanization in these countries.
The market is extremely fragmented and has a disproportionately high number of producers and service providers. The creation of cutting-edge products and a robust distribution network for those products are essential components in fostering competition among market participants.
The rising demand for high-end fabrics with exceptional strength and lightweight characteristics forces producers to innovate and uphold product quality standards.
Large producers and distributors have long-term supply contracts in place to ensure the availability of raw materials and maintain the consistency of their product lines.
- In January 2016, Owens Corning acquired Ahlstrom’s glass, non-woven, and fabrics operations to strengthen its position as a market leader in the wind energy, high-modulus glass, and specialty fabrics industries.
- A strategic cooperation and supply agreement for joint technological investment and the development and operation of a new facility in China by CPIC for the production of high-modulus glass fibre products was signed in June 2018 by Owens Corning and Chongqing Polycomp International Corp. (CPIC).
Key Companies Profiled
- Chomarat Textile Industries
- Saint-Gobain Performance Plastics
- Asahi Kasei Corporation
- Porcher Industries
- Saertex GmbH & Co. Kg.
- Hexcel Corporation
- Taiwan Electric Insulator Co. Ltd
- Nitto Boseki Co., Ltd.
Key Questions Covered in the Fiberglass Fabric Market
- What is the current size of the fiberglass fabric market, and what is its expected growth rate in the coming years?
- What are the key drivers, challenges, and opportunities for the fiberglass fabric market?
- What are the various applications of fiberglass fabric in different end-use industries, such as construction, aerospace, automotive, and filtration?
- What are the different types of fiberglass fabric, and what are their specific properties and uses?
What are the major regions and countries contributing to the growth of the fiberglass fabric market, and what are their market shares?