From GlobeNewswire: 2025-02-24 10:00:00

The fiberglass market was valued at $12.33 billion in 2023 and is projected to reach $20.38 billion by 2032, growing at a CAGR of 5.74%. Owens Corning and Saint-Gobain are top manufacturers meeting the increasing demand. Fiberglass is popular for insulation, composites, and reinforcement applications, with fiberglass insulation expected to reduce energy costs by up to 40%. Vehicle manufacturing with fiberglass composites has increased by 12% between 2022 and 2024. Fiberglass market dominated by key companies such as Owens Corning, Saint-Gobain, Nippon Electric Glass, and more.

Glass wool dominated the fiberglass market in 2023 due to its use in insulation for residential and commercial buildings. The U.S. EPA enforces strict building insulation standards, driving the demand for glass wool. High-performance variants with fire-resistance properties have been introduced by manufacturers like Knauf Insulation and Owens Corning, further increasing the penetration of glass wool.

The composites segment dominated the fiberglass market in 2023 with a 66% market share due to their extensive usage in automotive, aerospace, and wind energy sectors. FRP composites are widely used in the automotive sector for lightweight construction, including in EV production. The wind energy industry has also seen increased utilization of fiberglass composites in turbine blades.

The construction sector dominated the fiberglass market in 2023 with a 38% market share, driven by the increasing demand for energy-efficient buildings and sustainable construction materials. Fiberglass reinforced concrete is increasingly being used in new infrastructure projects due to its durability and lower repair costs. Top companies have launched innovative fiberglass insulation solutions complying with energy efficiency criteria.

Asia-Pacific dominated the fiberglass market in 2023, holding a 42% market share due to rapid industrialization and urbanization in countries like China, Japan, and India. China is the largest producer and consumer of fiberglass in the region. Demand has been driven by government initiatives for green buildings and infrastructure development.

Recent highlights in the fiberglass market include Borealis launching a post-consumer recycled glass-fiber reinforced polypropylene for automotive applications, Owens Corning announcing a strategic review of its glass fiber business, and BASF collaborating with 3B Fibreglass to use sustainable fibers for its Ultramid business. A project aimed to reduce product carbon footprint by 10%, saving 5000 metric tons of CO₂ annually. The research report on the Fiberglass Market provides key points, market dynamics, statistics, and regional analysis. SNS Insider offers market research and consulting services worldwide, providing clients with accurate data and insights to make confident decisions. For more information, visit their website.



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