Selbyville, Delaware , June 05, 2024 (GLOBE NEWSWIRE) -- Fiberglass Fabric Market is estimated to be valued at USD 25 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
The extensive use of fiberglass fabric across various industries due to its high strength-to-weight ratio, corrosion resistance and excellent thermal & electrical insulation coupled with the increasing growth of the automotive and transportation sectors will fuel the market growth. Fiberglass fabrics are increasingly used in automotive parts for providing lightweight solutions that improve fuel efficiency and reduce emissions. The growing focus on sustainability and the need for recyclable materials will further spurs the product demand. For instance, in August 2022, The Gill Corp. introduced Gillcore HF fiberglass honeycomb core for meeting the AMS 3715 aerospace requirements.
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With the modernization of global infrastructure, fiberglass fabrics are becoming indispensable in building materials given their durability and resistance to environmental factors. The construction of energy-efficient buildings, especially in regions with extreme weather conditions is greatly benefiting from the use of fiberglass fabrics in insulation and reinforcement applications. The expansion of the wind energy sector based on fiberglass composite materials for turbine blades is further influencing the market growth.
Non-woven fabrics to gain prominence
The non-woven fabric type segment in the fiberglass fabric market is expected to expand exponentially up to 2032 due to its unique properties and versatile applications across various industries. Fiberglass nonwovens offer exceptional tensile strength, durability and resistance to high temperatures and chemicals, making them ideal for use in construction, automotive and aerospace. These fabrics are also widely used for insulation, filtration, and reinforcement for providing cost-effective and efficient solutions. The growing demand for lightweight and high-performance materials, along with the development of manufacturing technologies will boost the segment growth.
Growing adoption in transportation
Fiberglass fabric market size from the transportation application segment will record lucrative expansion from 2024 to 2032. This is owing to the increasing demand for lightweight and durable materials to enhance fuel efficiency and reduce emissions in vehicles. Fiberglass fabrics are widely used in the manufacturing of automotive parts, including body panels, interiors and structural parts. As global emissions and fuel efficiency become more stringent, the reliance of the transportation industry on advanced materials is expected to increase.
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Europe to emerge as a lucrative market
Europe fiberglass fabric market is estimated to witness significant growth by 2032, attributed to technological advancements, stringent regulatory standards, and the robust industrial base. European countries are at the forefront of introducing environmentally friendly and energy efficient materials, driven by strict environmental regulations and the strong emphasis on sustainable development. The growing focus on innovations and quality, supported by significant R&D investments for ensuring the continuous development of fiberglass fabric applications will also stimulate the regional market growth.
Fiberglass Fabric Market Participants
Some of the prominent fiberglass fabric industry players include Vetrotex Saint-Gobain Composites, AGY International, Tsurumi Seisakusho Co., Ltd, China, Saint-Gobain, Fiberglass Corporation, Owens Corning, Johns Manville, Nippon Electric Glass Co., Ltd., and Jushi Group. These firms are focusing on growth-based strategies and new product developments to proliferate their portfolio and customer base. To illustrate, in December 2022, Saint-Gobain North America started a recycling program in California, where windshield glass scraps were reused to produce insulation through its subsidiaries Saint-Gobain Sekurit and CertainTeed Insulation.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
