Global Fiberglass Market Will See Strong Growth through 2019
The worldwide fiberglass market is projected to grow to $14.27 billion by 2019, at a compound annual growth rate (CAGR) of 9% from 2014 to 2019, according to “Global Fiberglass Market by Application (Composites, Insulations and Others), by Type (Roving and Yarns) & by Geography (Asia-Pacific, North America, Europe and Rest of the World) - Analysis and Forecast (2014-2019).” The global fiberglass market is experiencing strong growth due to increasing applicability in composites and insulation. Composites are the largest end-user application for fiberglass.
The future growth of the fiberglass industry would be augmented by investments made in the composites segment, especially in regions such as Asia-Pacific, North America and Europe. In Asia-Pacific and North America, an increase in population has directly impacted the overall demand for automobiles and general engineering industries.
Fiberglass is derived from pouring molten glass through superfine holes. It is considered to be a type of fiber-reinforced plastic, wherein the reinforced fiber is specifically glass fiber. Some of the major companies operating in the fiberglass market include Owens Corning (U.S.), China Fiberglass Co. (Jushi Group, China), AGY Holding Corp. (U.S.), Saint-Gobain Vetrotex (France), and PPG Industries Inc. (U.S.), among others.
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