Austin, Feb. 24, 2025 (GLOBE NEWSWIRE) -- The Fiberglass Market Size was valued at 12.33 Billion in 2023 and is expected to reach USD 20.38 Billion by 2032, growing at a CAGR of 5.74% over the forecast period of 2024-2032.
With rapid development in varied sectors like construction, transportation, and aviation, the fiberglass market continues to be ushered to new heights. Fiberglass, due to its light weight and high strength, is popular in insulation, composites, and reinforcement applications. Fiberglass insulation is expected to reduce energy costs by up to 40%, and with this a preferred choice in the construction sector, as per the U.S. Department of Energy. The International Organization of Motor Vehicle Manufacturers (OICA) also proved that vehicle manufacturing with fiberglass composites increased by 12% between 2022 and 2024 and helped increase fuel efficiency and reduce carbon emissions. Top manufacturers such as Owens Corning and Saint-Gobain have increased capacity to accommodate higher demand. Owens Corning announced it would invest $120 million in 2023 to increase fiberglass production in North America. Saint-Gobain launched a new line of environmentally responsible fiberglass products designed to reduce environmental impact. This will help boost the market as manufacturing processes continue to evolve and the focus on sustainable construction products becomes more apparent.
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Key Companies:
- Owens Corning (Advantex Glass Fiber, FOAMGLAS Insulation)
- Saint-Gobain (Isover Glass Wool, Vetrotex Roving)
- Nippon Electric Glass (E-Glass Fiber, T-glass Fiber)
- Jushi Group Co. Ltd. (E6 Roving, ThermoFlow Chopped Strands)
- 3B-The Fiberglass Company (SE2020 Direct Roving, DS220 Chopped Strands)
- PPG Industries (InnoFiber Roving, HYBON Roving)
- Johns Manville (StarRov Roving, Microlite Insulation)
- Taishan Fiberglass, Inc. (ECR Glass Fiber, High Modulus Fiber)
- Chongqing Polycomp International Corp. (CPIC E-glass Roving, Chopped Strands)
- Knauf Insulation (ECOSE Technology, JetSpray System)
- AGY Holding Corp. (S-2 Glass Fiber, L-Glass™ Fiber)
- BASF (Ultradur GF, Ultramid GF)
- Toray Industries (Toray Glass Fiber, TORAYCA)
- Hengshi Fiberglass (High-Performance Roving, Chopped Strand Mat)
- Ahlstrom (Glass Veil, Engineered Glass Mat)
- SGL Carbon (SIGRATHERM Insulation, SIGRABOND)
- Taiwan Glass Industry Corp. (E-Glass Roving, Chopped Strands)
- Negri Bossi (Glass Fiber-Reinforced Polymers, Thermoset Composites)
- Şişecam (ECR Glass Fiber, Continuous Filament Mat)
- LANXESS (Tepex Dynalite, Durethan GF)
Fiberglass Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 12.33 Billion |
| Market Size by 2032 | USD 20.38 Billion |
| CAGR | CAGR of 5.74% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product Type (Glass Wool, Yarn, Roving, Chopped Strand, Others) • By Application (Insulation, Composites) • By End Use Industry, (Automobile, Construction, Aerospace, Wind Energy, Others) |
| Key Drivers | • Increasing demand for lightweight and high-performance materials which drives the market growth. |
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By Product Type, Glass Wool Dominated the Fiberglass Market in 2023 with a 37% Market Share
The dominance is due to its widespread use as an insulation solution. It is a popular choice in residential and commercial buildings due to its lightweight structure, high thermal efficiency, and cost-effectiveness. The energy efficiency regulations have gained traction up in North America and Europe, which has led to a lucrative demand for growth. For example, the U.S. Environmental Protection Agency (EPA) enforces strict building insulation standards, propelling the use of glass wool in new construction and retrofitting applications. Moreover, high-performance glass wool variants with high fire-resistance properties have been introduced in the market by prominent manufacturers including Knauf Insulation and Owens Corning, which have further increased the penetration of glass wool in the market.
By Application, Composites Segment dominated the Fiberglass Market in 2023 with a 66% Market Share
This is due to their extensive usage in automotive, aerospace, and wind energy sector. Fiberglass Reinforced Plastics (FRP) are widely used and have numerous applications, particularly in the automotive sector for lightweight construction of vehicle components. This can also mean FRP composites used in the manufacturing of electric vehicles (EVs). The use of FRP in EV production was up 18% between 2022 and 2023 according to the European Automobile Manufacturers Association (ACEA), thus also helping to reduce vehicle weight and increase the efficiency of EV batteries. Moreover, the wind energy industry has seen increased fiberglass composite utilization in turbine blades due to its superior tensile strength, stiffness, and durability as applications of this on diverse product portfolios are sustaining global renewable energy objectives.
By End Use Industry, Construction Sector Dominated the Fiberglass Market in 2023 with a 38% Market Share
It is used in various end-use segments, of which construction was the largest, owing to high penetration of fiberglass in insulation and reinforcement applications. This trend has been propelled by the increasing demand for energy-efficient buildings and sustainable construction materials. According to the European Commission, fiberglass reinforced concrete is increasingly being used in new infrastructure projects thanks to its superior durability and lower repair costs. Moreover, top companies including Johns Manville and Saint-Gobain have launched innovative fiberglass insulation solutions complying with rigorous energy efficiency criteria, consolidating the presence of fiberglass in the construction market.
Asia-Pacific dominated the Fiberglass market in 2023, holding a 42% market share.
The dominance of the region is due to the rapid industrialization and urbanization occurring in nations such as China, Japan, and India. China is the largest producer and consumer of fiberglass, holding more than half the region's market share. Demand has been increasingly driven by the Government’s impetus for green buildings and infrastructure development. The government of India’s Smart Cities Mission, for example, has spurred fiberglass use in infrastructure projects. Furthermore, Chinese producers like China Jushi and Taishan Fiberglass have increased their production capacity to accommodate the rising domestic and international demand.
Recent Highlights
- September 2024: Borealis launched a 65% post-consumer recycled glass-fiber reinforced polypropylene aimed at demanding automotive applications. That would've highlighted Borealis's commitment to scaling up circular economy solutions for the automotive sector.
- March 2024: Owens Corning announced a strategic review of the company's glass fiber business to explore potential alternatives to increase shareholder value.
- May 2024: BASF collaborated with 3B Fibreglass to use sustainable fibers of glass, made in accordance with green electricity, for its Ultramid A & B business. The project was intended to lower the product carbon footprint by around 10%, which corresponded to i n annual savings of around 5000 metric tons of CO₂.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Fiberglass Market Segmentation, by Product Type
8. Fiberglass Market Segmentation, by Application
9. Fiberglass Market Segmentation, by End-Use Industry
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practice
13. Conclusion
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