Fiberglass Fabric Market Overview
The Fiberglass Fabric Market
size is projected to grow at a CAGR of 5.5% during the forecast period 2022-2027 and reach US$12.4 billion by 2027. Fiberglass is a type of
fiber-reinforced plastic made using glass fiber. The plastic
matrix used is commonly based on thermosetting polymers which include polyester
resin, epoxy and vinyl ester resin or a thermoplastic. Fiberglass can be
categorized into various types such as A-Glass, C-Glass, E-Glass, S-Glass and
more while fiberglass fabric can be categorized based on woven and non-woven
fabric. They are used in various industries, including automotive,
aerospace, construction, energy and others. The expansion of fiberglass
fabric is primarily driven by its usage in the automotive industry. In 2020,
the surge in the COVID-19 pandemic negatively impacted automotive production activities
as a result of the country-wide shutdown of automotive sites, shortage of labor
and the decline of the supply and demand chain all across the world, thus,
temporarily affecting the growth of the fiberglass fabric industry. However, a
steady recovery in automobile production has been witnessed across many
countries since 2021, which in turn, is driving the demand for
fiberglass fabric. According to the International Organization of Motor Vehicle
Manufacturers (OICA), the total global automobile production reached 80.2
billion units in 2021, an increase of 3% as compared to 77.7 billion units in
2020. An increase in automobile production along with the surging demand from
the aerospace industry is expected to drive the growth of the Fiberglass Fabric Market size in the coming years. On the other hand, the availability of
substitutes such as carbon fiber may confine the growth of the market.
Fiberglass
Fabric Market Report Coverage
The
"Fiberglass Fabric Market Report–Forecast (2022-2027)” by IndustryARC,
covers an in-depth analysis of the following segments in the Fiberglass Fabric
Market.
Key Takeaways
- The woven fabric segment in Fiberglass Fabric Market held a significant share in 2021. Its
wide range of characteristics and durability made it stand out in comparison to
other types of fabrics in the market.
- Building & construction industry held the largest share in Fiberglass Fabric Market in 2021, owing to the increasing demand for Fiberglass Fabric from the construction sector across the world. For instance, according to recent insights from the World Cement, the global construction industry output increased by 5.7% in 2021.
- Asia-Pacific dominated the Fiberglass Fabric Market in 2021, owing to its increasing demand from the construction sector of the region.
- A detailed analysis of strengths, weaknesses, opportunities and threats would be provided in the Fiberglass Fabric Market Report.
Figure: Asia-Pacific Fiberglass Fabric Market Revenue, 2021-2027 (US$ Billion)
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Fiberglass Fabric Market Segment Analysis – by Fabric Type
The woven fabric
segment held a significant Fiberglass Fabric Market share of over 18% in 2021, owing
to its increasing demand due to the benefits it offers over the non-woven
fabric. For instance, woven fabrics are lightweight and offer better durability
and reliability in comparison to non-woven fabrics. Woven fabrics are more
eco-friendly as their manufacturing process involves the utilization of carbon
dioxide while emitting oxygen into the environment. Moreover, woven fabrics
require low maintenance, offer better resistance to moisture and weather and have
the ability to maintain their toughness even under hazardous conditions.
Furthermore, woven fabrics are more economical and cost-effective as opposed to
non-woven fabrics. According to the International Textile Manufacturers
Federation, the overall cost of woven fabrics accounted for 19% of total fabric
production costs across the world in 2021. Additionally, the woven fabrics industry
in Turkey was valued at US$1.3 billion in 2021, an increase of 26.1% compared to 2020. Hence, all of the above-mentioned benefits of woven fabrics are
driving its demand over other types of fabric, which in turn, is expected to
boost the market growth during the forecast period.
Fiberglass Fabric Market Segment Analysis – by End-use Industry
The building & construction industry held the largest Fiberglass Fabric Market share of over 25% in 2021, owing to the increase in construction activities across the world. For instance, according to Volvo CE, the construction sector saw an increase in construction activities across multiple regions since the fourth quarter of 2020. South America saw an increase of 12%, while Asia, Europe and China witnessed boosts of 39%, 20% and 28%, respectively, in 2020. Furthermore, YIT Corporation commenced the construction of numerous residential apartment building projects in Finland, the CEE countries and Russia in December 2021, with total investments of around EUR 200 million (US$236.5 million). The projects are scheduled to be completed by the end of 2023.
Fiberglass Fabric for A-Glass, C-Glass,
E-Glass, S-Glass and more are primarily used in the construction industry to prevent corrosion and to support the rehabilitation of reinforced
concrete columns. They are also used for wall covering, decoration, renovation
of walls and ceilings and as a medium of fire protection. Thus, such surging developments in the construction sector
across the world are expected to increase the demand for fiberglass fabric,
owing to its high strength, excellent flexural moment capacity and
corrosion-resistant properties.
This is expected to expand the Fiberglass Fabric market size during the
forecast period.
Fiberglass Fabric Market Segment Analysis – by Geography
Asia-Pacific
held a dominant Fiberglass Fabric Market share of around 32% in the year 2021. The
consumption of Fiberglass Fabric is particularly high in this region due to its
increasing demand in the construction sector. For instance, in October 2021,
the MoC (Ministry of Construction) of Vietnam proposed around 266 residential
housing projects across the country which are scheduled to be completed over the period of 2022-2025. Moreover, in 2021, the development of a 550,000 square meter
mixed-use complex commenced in Minato City, Japan. The development is expected
to be completed by the fourth quarter of 2030 and aims at providing better
commercial and leisure facilities in the region. Furthermore, the government of
China approved 695 building and construction projects with a total investment
of 3 trillion yuan (US$471 billion) in January 2022.
In this way, an increase in such new building and construction projects in multiple countries across the region is expected to increase the demand for Fiberglass Fabric, owing to its high strength, durability, low density and excellent heat and corrosion resistance properties. This is anticipated to propel the growth of the market during the forecast period.
Fiberglass Fabric Market Drivers
An increase in automotive activities
Fiberglass Fabric is composed of thermosetting polymers such as polyester resin, epoxy, or
vinyl ester resin. It is primarily used in automobile bodies, owing
to its lightweight, durability, high resistance to heat and corrosion, toughness,
high strength, fire resistance and aesthetic appeal. Recent
insights from the European Automobile Manufacturers' Association (ACEA) reveal that the total passenger car production during the fourth quarter of 2020 reached
around 34 million in Asia-Pacific, 14 million in Europe, 1.3 million in the
Middle East/Africa, 1.7 million in South America and 9.6 million in North
America. Moreover,
according to the International Organization of Motor Vehicle Manufacturers
(OICA), the production of heavy-duty vehicles in Europe reached 3,08,300 units
in 2021, an increase of 31% compared to 2,36,328 units in 2020. It further
states that the total automobile production in 2021 in Europe, America, Asia
and Africa increased by 25%, 17%, 28% and 37%, respectively, in comparison to
2020. Hence, an increase in global automobile production is expected to
increase the demand for Fiberglass Fabric for use in various components of an
automobile. This is
anticipated to drive the growth of the market in the upcoming years.
Surging demand from the aerospace industry
Fiberglass Fabric
for A-Glass,
C-Glass, E-Glass, S-Glass and more
are primarily used in the aerospace industry for multiple applications
involving aircraft insulation, flooring, seating, closets, air ducts and
various other interior components of the aircraft. The
properties of fiberglass fabric such as high tensile strength, low weight, stiffness and excellent fire protection capabilities are driving its demand for use in the aerospace
industry. For instance, according to the Federal
Aviation Administration (FAA), the total production of commercial aircraft fleet
is estimated to reach up to 8,270 by the end of 2037, owing to the growth of
air cargo activities. It further states that the development of the US
mainliner carrier fleet is estimated to increase at a rate of 54 aircraft per
year. In November 2021, the Indian government announced its plan to launch its
military aviation project that aims at building a fifth-generation fighter or
medium combat aircraft incorporated with advanced stealth features and
capabilities. The aircraft is scheduled for launch by the end of 2022.
Moreover, the Indian Air Force (IAF) announced its plans to deliver 73 Tejas
Mark-1A fighter jets which are scheduled to be delivered from 2024 to 2028.
Furthermore, Airbus delivered around 460 commercial aircraft while Boeing
delivered 230 commercial aircraft in 2021.
Thus, such
surging production from the aircraft industry is expected to increase the
demand for Fiberglass Fabric for use in various aircraft interior components, owing to their above-mentioned properties. This is expected to
accelerate the growth of the Fiberglass Fabric Market in the upcoming years.
Fiberglass Fabric Market Challenge:
Availability of substitutes
Carbon fiber is commonly
used as a substitute for Fiberglass Fabric in multiple industries such as
automotive, aerospace, building & construction and more. Carbon fiber has similar physical properties, performance and applications, along
with other similar factors such as stability, durability and more, which may
restrict the growth of the market. Moreover, carbon fiber offers higher
strength and durability as compared to fiberglass fabric. For instance,
according to the Toray Group, carbon fiber is 20% stronger than
fiberglass fabric. Moreover, both carbon fiber and fiberglass fabric are
remarkably light in weight, but carbon fiber weighs around 15% less than
fiberglass fabric. The tensile modulus of carbon fiber is four times greater
than that of fiberglass fabric. In addition to this, carbon fiber also depicts
better resistance to thermal expansion in extreme temperatures as compared to
fiberglass fabric. Thus, the availability of such substitutes may limit the
growth of the Fiberglass Fabric Industry during the forecast period.
Fiberglass Fabric Industry Outlook
Technology launches,
acquisitions and increased R&D activities are key strategies adopted by players
in the Fiberglass Fabric Market. The top companies in the Fiberglass
Fabric Market are:
- Everlast Composites Pvt. Ltd.
- Owens Corning
- Jushi Group Co. Ltd.
- Magnus Composites Synergies Pvt. Ltd.
- U P Twiga Fiberglass Ltd.
- SAERTEX GmbH & Co.KG
- Saint-Gobain Performance Plastics Corporation
- Tah Tong Textile Co. Ltd.
- Taiwan Electric Insulator Co. Ltd.
- Valutex Reinforcements Inc.
Recent Development:
In November 2021, Owens Corning completed the acquisition of Saint-Gobain's Reinforcements and Composite Fabrics businesses for $640 million, following approval by regulatory authorities in Europe and the
Relevant Reports
Report
Code: CMR 60278
Report
Code: CMR 66833
Report Code: CMR 14907
For more Chemicals and Materials Market reports, please click here
LIST OF TABLES
1.Global Fiberglass Fabric Market By Fiber Type Market 2023-2030 ($M)1.1 E-Glass Fabric Market 2023-2030 ($M) - Global Industry Research
2.Global Fiberglass Fabric Market By Fabric Type Market 2023-2030 ($M)
2.1 Woven Fiberglass Fabric Market 2023-2030 ($M) - Global Industry Research
2.2 Non-Woven Fiberglass Fabric Market 2023-2030 ($M) - Global Industry Research
3.Global Fiberglass Fabric Market By Fiber Type Market 2023-2030 (Volume/Units)
3.1 E-Glass Fabric Market 2023-2030 (Volume/Units) - Global Industry Research
4.Global Fiberglass Fabric Market By Fabric Type Market 2023-2030 (Volume/Units)
4.1 Woven Fiberglass Fabric Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Non-Woven Fiberglass Fabric Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America Fiberglass Fabric Market By Fiber Type Market 2023-2030 ($M)
5.1 E-Glass Fabric Market 2023-2030 ($M) - Regional Industry Research
6.North America Fiberglass Fabric Market By Fabric Type Market 2023-2030 ($M)
6.1 Woven Fiberglass Fabric Market 2023-2030 ($M) - Regional Industry Research
6.2 Non-Woven Fiberglass Fabric Market 2023-2030 ($M) - Regional Industry Research
7.South America Fiberglass Fabric Market By Fiber Type Market 2023-2030 ($M)
7.1 E-Glass Fabric Market 2023-2030 ($M) - Regional Industry Research
8.South America Fiberglass Fabric Market By Fabric Type Market 2023-2030 ($M)
8.1 Woven Fiberglass Fabric Market 2023-2030 ($M) - Regional Industry Research
8.2 Non-Woven Fiberglass Fabric Market 2023-2030 ($M) - Regional Industry Research
9.Europe Fiberglass Fabric Market By Fiber Type Market 2023-2030 ($M)
9.1 E-Glass Fabric Market 2023-2030 ($M) - Regional Industry Research
10.Europe Fiberglass Fabric Market By Fabric Type Market 2023-2030 ($M)
10.1 Woven Fiberglass Fabric Market 2023-2030 ($M) - Regional Industry Research
10.2 Non-Woven Fiberglass Fabric Market 2023-2030 ($M) - Regional Industry Research
11.APAC Fiberglass Fabric Market By Fiber Type Market 2023-2030 ($M)
11.1 E-Glass Fabric Market 2023-2030 ($M) - Regional Industry Research
12.APAC Fiberglass Fabric Market By Fabric Type Market 2023-2030 ($M)
12.1 Woven Fiberglass Fabric Market 2023-2030 ($M) - Regional Industry Research
12.2 Non-Woven Fiberglass Fabric Market 2023-2030 ($M) - Regional Industry Research
13.MENA Fiberglass Fabric Market By Fiber Type Market 2023-2030 ($M)
13.1 E-Glass Fabric Market 2023-2030 ($M) - Regional Industry Research
14.MENA Fiberglass Fabric Market By Fabric Type Market 2023-2030 ($M)
14.1 Woven Fiberglass Fabric Market 2023-2030 ($M) - Regional Industry Research
14.2 Non-Woven Fiberglass Fabric Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Fiberglass Fabric Market Revenue, 2023-2030 ($M)2.Canada Fiberglass Fabric Market Revenue, 2023-2030 ($M)
3.Mexico Fiberglass Fabric Market Revenue, 2023-2030 ($M)
4.Brazil Fiberglass Fabric Market Revenue, 2023-2030 ($M)
5.Argentina Fiberglass Fabric Market Revenue, 2023-2030 ($M)
6.Peru Fiberglass Fabric Market Revenue, 2023-2030 ($M)
7.Colombia Fiberglass Fabric Market Revenue, 2023-2030 ($M)
8.Chile Fiberglass Fabric Market Revenue, 2023-2030 ($M)
9.Rest of South America Fiberglass Fabric Market Revenue, 2023-2030 ($M)
10.UK Fiberglass Fabric Market Revenue, 2023-2030 ($M)
11.Germany Fiberglass Fabric Market Revenue, 2023-2030 ($M)
12.France Fiberglass Fabric Market Revenue, 2023-2030 ($M)
13.Italy Fiberglass Fabric Market Revenue, 2023-2030 ($M)
14.Spain Fiberglass Fabric Market Revenue, 2023-2030 ($M)
15.Rest of Europe Fiberglass Fabric Market Revenue, 2023-2030 ($M)
16.China Fiberglass Fabric Market Revenue, 2023-2030 ($M)
17.India Fiberglass Fabric Market Revenue, 2023-2030 ($M)
18.Japan Fiberglass Fabric Market Revenue, 2023-2030 ($M)
19.South Korea Fiberglass Fabric Market Revenue, 2023-2030 ($M)
20.South Africa Fiberglass Fabric Market Revenue, 2023-2030 ($M)
21.North America Fiberglass Fabric By Application
22.South America Fiberglass Fabric By Application
23.Europe Fiberglass Fabric By Application
24.APAC Fiberglass Fabric By Application
25.MENA Fiberglass Fabric By Application
26.Owens Corning, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Gurit, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Chomarat Textile Industries, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Saertex GmbH & Co.Kg., Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Hexcel Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Saint-Gobain Performance Plastics, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Tah Tong Textile Co. Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)