Global Fiberglass Insulation Market Trends, Analysis, Growth, Industry Outlook and Overview 2021

Global Fiberglass Insulation Market is segmented on the basis of application and geography. Fiberglass (or fibreglass) comes across as a kind of fiber reinforced plastic where the reinforcement fiber, to be specific, is glass fiber. The glass fiber could be randomly arranged, woven into a fabric, or compressed into a sheet (called a chopped strand mat). The plastic matrix could be a thermosetting plastic that is most often polyester resin, epoxy, vinylester, or a thermoplastic.

Fiberglass finds applications in composites, storage tanks, insulations, piping, house building, and filament winding. The major drivers of the fiberglass insulation market are impressive growth in construction activity, increasing demand for higher thermal efficiency, lightweight, strength, durability, and eco-friendly insulation products. The increasing awareness of energy saving is also driving the demand of fiberglass insulation market.

 Gains in the fiberglass insulation market will largely stem from a rebound in the construction sector and the mounting use of glass fiber in insulation. Headwinds that will slow down the market’s growth include the invasion of low-cost fiberglass and a slowdown in growth in maturing markets. Fiberglass, a material produced by using ultrathin strands of glass to reinforce the plastic matrix is desired in several applications because of the strength and lightness it lends. The commercial production of fiberglass has taken off worldwide also because the required raw materials are both economical and abundantly available. The preference for fiberglass over carbon fiber has also given the market for former a lift.

The pressing need for lightweight automobiles and aircraft will act as a primary growth driver for the fiberglass insulation market. The trend of replacing heavier metal components with lighter weight fiberglass parts has created a window of opportunity for the fiberglass market in emerging countries and stirring up some fresh demand in otherwise stagnant mature markets.

Research states that, the market being overloaded with low-cost fiberglass will dent revenue growth. At the same time, the demand in mature markets is expected to be lackluster another factors that will cause a marginal dip in global revenue gains. By training their focus on hitherto untapped markets companies in the fiberglass market can mitigate the impact of these restraints.

Based on application, the fiberglass insulation market is segmented into residential construction, commercial & industrial construction, industrial & HVAC application, appliances and so on. The “residential construction” segment is growing at a greater pace followed by the “commercial and industrial” segment. Based on geography, the fiberglass insulation market is segmented into Asia Pacific, Europe, North America, Middle East & Africa and Latin America.

The Asia Pacific fiberglass insulation industry will be a hotbed of fiberglass manufacturing activity, impelled by the escalating consumption of fiberglass in China. The consumer electronics, construction and wind energy sectors in the country are underpinning the growing demand for fiberglass in China.

The key players of fiberglass insulation industry are Owens Corning Corporation, Compagnie de Saint Gobain SA, Johns Manville Corporation, Uralita, KCC Corporation, Knauf Insulation Ltd., Bradford Insulation, Superglass Insulation Ltd., Guardian Insulation, Asahi Fiber Glass Co. and China National Materials Group Corporation.

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