Market Size of Glass Fiber Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 29.21 Billion |
| Market Size (2029) | USD 35.68 Billion |
| CAGR (2024 - 2029) | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Glass Fiber Market Analysis
The Glass Fiber Market size is estimated at USD 29.21 billion in 2024, and is expected to reach USD 35.68 billion by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).
- The significant factors expected to drive the glass fiber market are the increasing demand from the construction industry and the rising demand for fiberglass composites from the automotive industry.
- However, the low-profit margin on sales and competition from carbon fiber and rock wool are likely to restrain the growth of the glass fiber market in the upcoming period.
- The increase in the use of lightweight glass fiber-reinforced plastic (GFRP) composites and the increase in the demand for composite materials from the wind energy sector are opportunities for the market to be studied in the upcoming period.
- Asia-Pacific is likely to dominate the glass fiber market.
Glass Fiber Industry Segmentation
Glass fiber, also known as fiberglass, is a material composed of extremely fine glass fibers. These fibers can be woven into a fabric or used as a reinforcing material in composite materials. Glass fibers are known for their high strength, lightweight, and corrosion resistance properties, making them suitable for a wide range of applications across industries such as construction, automotive, aerospace, marine, electronics, and telecommunications. They are commonly used in insulation, composites, reinforcement materials, and optical fibers.
The glass fiber market is segmented by type, application, end-user industry, and geography. On the basis of type, the market is segmented into chopped strands, glass wool, roving, and yarn. On the basis of application, the market is segmented into composites and insulation. On the basis of the end-user industry, the market is segmented into building and construction, automotive, aerospace and defense, alternative energy, consumer goods, industrial, and other end-user industries (electronics). The report also covers the market size and forecasts for the glass fiber market in 15 countries across major regions. For each segment, the market sizing and forecast have been done on the basis of value (USD).
| Resin Type | |
| Chopped Strands | |
| Glass Wool | |
| Roving | |
| Yarn |
| Application | |
| Composites | |
| Insulation |
| End-user Industry | |
| Buildings and Construction | |
| Automotive | |
| Aerospace and Defense | |
| Alternative Energy | |
| Consumer Goods | |
| Industrial | |
| Other End-user Industries (Electronics) |
| Geography | |||||||||||
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Glass Fiber Market Size Summary
The glass fiber market is poised for significant growth, driven by increasing demand from the construction and automotive industries. The material's eco-friendly properties and strength make it an ideal choice for construction applications, such as glass-fiber reinforced concrete (GRC), which offers durability without adding weight. This demand is further bolstered by the expansion of the construction sector in regions like the United States and Europe, where spending on building projects is on the rise. However, the market faces challenges such as low-profit margins and competition from alternative materials like carbon fiber and rock wool. Despite these challenges, opportunities exist in the form of lightweight glass fiber-reinforced plastic composites and the growing demand from the wind energy sector.
The Asia-Pacific region is expected to dominate the glass fiber market, fueled by rapid industrialization and urbanization in countries like China, India, and Japan. The region's booming construction industry, driven by infrastructure development and population growth, is a significant contributor to the rising demand for glass fiber. Additionally, Asia-Pacific's status as a major automotive manufacturing hub further supports market growth. Key players in the industry, such as Owens Corning and China Jushi Co. Ltd, are actively expanding their operations and product offerings to meet the increasing demand. Recent developments, such as Ahlstrom's introduction of a new glass fiber tissue line and collaborations between companies like Owens Corning and Pultron Composites, highlight the industry's focus on sustainable and high-performance building materials.
Glass Fiber Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from the Construction Industry
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1.1.2 Increasing Demand for Fiberglass Composites from the Automotive Industry
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1.2 Restraints
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1.2.1 Competition from Carbon Fiber and Rockwool
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1.2.2 Low Profit Margin on Sales
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Resin Type
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2.1.1 Chopped Strands
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2.1.2 Glass Wool
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2.1.3 Roving
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2.1.4 Yarn
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2.2 Application
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2.2.1 Composites
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2.2.2 Insulation
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2.3 End-user Industry
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2.3.1 Buildings and Construction
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2.3.2 Automotive
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2.3.3 Aerospace and Defense
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2.3.4 Alternative Energy
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2.3.5 Consumer Goods
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2.3.6 Industrial
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2.3.7 Other End-user Industries (Electronics)
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2.4 Geography
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2.4.1 Asia-Pacific
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2.4.1.1 China
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2.4.1.2 India
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2.4.1.3 Japan
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2.4.1.4 South Korea
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2.4.1.5 Malaysia
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2.4.1.6 Thailand
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2.4.1.7 Indonesia
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2.4.1.8 Vietnam
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2.4.1.9 Rest of Asia-Pacific
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2.4.2 North America
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2.4.2.1 United States
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2.4.2.2 Canada
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2.4.2.3 Mexico
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2.4.3 Europe
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2.4.3.1 Germany
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2.4.3.2 France
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2.4.3.3 United Kingdom
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2.4.3.4 Italy
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2.4.3.5 Spain
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2.4.3.6 Turkey
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2.4.3.7 Russia
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2.4.3.8 NORDIC
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2.4.3.9 Rest of Europe
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Colombia
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2.4.4.4 Rest of South America
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2.4.5 Middle East and Africa
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2.4.5.1 Saudi Arabia
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2.4.5.2 South Africa
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2.4.5.3 Nigeria
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2.4.5.4 Qatar
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2.4.5.5 Egypt
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2.4.5.6 UAE
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2.4.5.7 Rest of Middle East and Africa
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Glass Fiber Market Size FAQs
How big is the Glass Fiber Market?
The Glass Fiber Market size is expected to reach USD 29.21 billion in 2024 and grow at a CAGR of greater than 4% to reach USD 35.68 billion by 2029.
What is the current Glass Fiber Market size?
In 2024, the Glass Fiber Market size is expected to reach USD 29.21 billion.
