Glass Fiber Market worth USD 24911.57 million by 2033

The Market Statsville Group (MSG) publishes the new report on the "Glass Fiber Market by Glass Type (E-Glass, ECR-Glass, H-Glass, AR-glass, S-Glass, Others), by Product Type (Glass Wool, Direct and Assembled Roving, Chopped Strand, Yarn, Others), by Application, By Region – Global Share and Forecast to 2033

According to the Market Statsville Group (MSG), the global glass fiber market size is expected to grow from USD 16011.91 million in 2022 to USD 24911.57 million by 2033, at a CAGR of 4.1% from 2023 to 2033.

The glass fiber market consists of sales of glass fiber services by entities (organizations, sole traders, and partnerships). The growing demand for glass fibers in the building is propelling the glass fiber industry forward. Increased development in rising nations such as China, India, and Japan have resulted in a tremendous expansion in these countries' building industries. In the other hand, the availability of replacements is the key constraint hindering the glass fiber market expansion. The availability of replacements such as carbon creates salt fiber, and natural fiber creates difficulties for the worldwide glass fiber industry. Moreover, the growing amount of wind energy capacity projects is a growth opportunity potential for the fiberglass industry.

Global Glass Fiber Market Segmentation

The overall glass fiber market has been segmented into glass type, product type, application, and region.

• By Glass Type (E-Glass, ECR-Glass, H-Glass, AR-glass, S-Glass, Others)
• By Product Type (Glass Wool, Direct and Assembled Roving, Chopped Strand, Yarn, Others)
• By Application (Composites, Insulation)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

S-Glass segment is at the highest CAGR during the forecast period

S-Glass segment is expected to grow at the highest CAGR during the forthcoming period. S-glass possesses qualities comparable to E-glass but is stronger and stiffer. High tenacity S-glass is composed of magnesium aluminosilicate. S-glass fibre performs well at high temperatures; it is utilized in applications that require strong strength and stability in harsh temperatures and corrosive conditions. S-glass is also accessible on the global market and is currently the highest-performing fibre available. It has a greater silica concentration than normal glass fibre goods. This kind of glass is commonly utilized in the textile and composite industries. It has a high compressive strength, is resistant to high temperatures, and has excellent impact resistance.

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The North America to account for the highest CAGR during the forecast period

Over the forecast period, the North America market is expected to grow rapidly. The residential sector was a key driver of the recovery, with low-interest rates and salary rises helping to generate demand for new housing units. The year 2018 saw a tremendous surge in building activity across the United States and Canada. The development rate increased after 2021, as continued investment in infrastructure and smart city plans boosted the area's building industry. The market is likely to be driven by North America's expanding construction industry. This fibre is largely utilised in the building and construction sector as insulation, cladding, surface coating, and roofing raw material.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the glass fiber market. It also consists of the profiles of leading companies such as  LANXESS, Owens Corning, 3B - The Fiberglass Comp, Shandong Fiberglass Group Corp, Nippon Electric Glass Co., Ltd, Taishan Fiberglass Inc. (CTG), Chongqing Polycomp International Corp, Johns Manville, Saint-Gobain Vetrotex, China Jushi Co., Ltd, Taiwan Glass Industry Corporation, PFG Fiber Glass Corporation, Asahi Fiber Glass Co., Ltd and Knauf Insulation. The key players' growing research and development activities for launching innovative healthcare devices with advanced features and strategic unions are expected to drive market growth.

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Market Statsville Group (MSG) is a business research and consulting platform of Statsville Consulting Private Limited, based in Oklahoma, USA. MSG is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and intelligent business insights. MSG has experienced research analysts who are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact. Furthermore, Market Statsville Group already benefited more than 1,000 companies each year for their revenue planning. It helped them take their disruptions/innovations early to the market by providing them research ahead of the curve.

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