Fiberglass Fabric Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2022-2027

Report Code: CMR 88337 Report Format: PDF + Excel

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.

By Fiberglass Type: A-Glass, C-Glass, E-Glass, AE-Glass, S-Glass and Others.
By Fabric Type: Woven and Non-woven.
By End-Use Industry: Transportation [Automotive (Passenger Cars, Light Commercial Vehicle and Heavy Commercial Vehicles), Aerospace (Commercial, Military and Others), Marine (Passenger Ships & Cruises and Heavy Load Carriers) and Railway], Electrical & Electronics (Semiconductor, Appliances and Others), Building & Construction (Residential, Commercial and Industrial), Energy (Wind Energy and Solar Energy), Medical, Oil & Gas and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Denmark, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World [the Middle East (Saudi Arabia, the UAE, Israel and the Rest of Middle East) and Africa (South Africa, Nigeria and the Rest of Africa)].

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)

Fiberglass Fabric Market

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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:

  1. Everlast Composites Pvt. Ltd.
  2. Owens Corning
  3. Jushi Group Co. Ltd.
  4. Magnus Composites Synergies Pvt. Ltd.
  5. U P Twiga Fiberglass Ltd.
  6. SAERTEX GmbH & Co.KG
  7. Saint-Gobain Performance Plastics Corporation
  8. Tah Tong Textile Co. Ltd.
  9. Taiwan Electric Insulator Co. Ltd.
  10. 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 United States. The acquisition accelerated Owens Corning's global growth strategy and strengthened its position as a market leader in glass reinforcements and composites.

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1. Fiberglass Fabric Market - Market Overview
    1.1 Definitions and Scope
2. Fiberglass Fabric Market - Executive Summary
    2.1 Key Trends by Fiberglass Type
    2.2 Key Trends by Fabric Type
    2.3 Key Trends by End-use Industry
    2.4 Key Trends by Geography
3. Fiberglass Fabric Market – Comparative analysis
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis - Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Fiberglass Fabric Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Fiberglass Fabric Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Fiberglass Fabric Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter's Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Fiberglass Fabric Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Fiberglass Fabric Market – by Fiberglass Type (Market Size - US$ Million/Billion)
    8.1. A-Glass
    8.1. C-Glass
    8.1. E-Glass
    8.1. AE-Glass
    8.1. S-Glass
    8.1. Others
9. Fiberglass Fabric Market – by Fabric Type (Market Size - US$ Million/Billion)
    9.1 Woven
    9.2 Non-woven
10. Fiberglass Fabric Market - by End-use Industry (Market Size - US$ Million/Billion)
    10.1Transportation
        10.1.1 Automotive
            10.1.1.1 Passenger Cars
            10.1.1.2 Light Commercial Vehicle
            10.1.1.3 Heavy Commercial Vehicles
        10.1.2 Aerospace
            10.1.2.1 Commercial
            10.1.2.2 Military
            10.1.2.3 Others
        10.1.3 Marine
            10.1.3.1 Passenger Ships & Cruises
            10.1.3.2Heavy Load Carriers
        10.1.4 Railway
    10.2 Electrical & Electronics
        10.2.1 Semiconductor
        10.2.2 Appliances
        10.2.3 Others
    10.3 Building & Construction
        10.3.1 Residential
        10.3.2 Commercial
        10.3.3 Industrial
    10.4 Energy
        10.4.1 Wind Energy
        10.4.2 Solar Energy
    10.5 Medical
    10.6 Oil & Gas
    10.7 Others
11. Fiberglass Fabric Market - by Geography (Market Size - US$ Million/Billion)
    11.1 North America
        11.1.1 The USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 The UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 The Netherlands
        11.2.6 Spain
        11.2.7 Denmark
        11.2.8 Belgium
        11.2.9 The Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 The Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 The Rest of South America
    11.5 The Rest of the World
        11.5.1 The Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 The UAE
            11.5.1.3 Israel
            11.5.1.4 The Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 The Rest of Africa
12. Fiberglass Fabric Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Fiberglass Fabric Market – Industry/Segment Competition Landscape Premium
    13.1 Company Benchmarking Matrix – Major Companies
    13.2 Market Share at Global Level - Major companies
    13.3 Market Share by Key Geography - Major companies
    13.4 Market Share at Country Level - Major companies
    13.5 Market Share by Key Product Type/Product category - Major companies
14. Fiberglass Fabric Market – Key Company List by Country Premium Premium
15. Fiberglass Fabric Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10
    * "Financials would be provided to private companies on best-efforts basis."
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LIST OF TABLES

1.Global Fiberglass Fabric Market By Fiber Type Market 2019-2024 ($M)
1.1 E-Glass Fabric Market 2019-2024 ($M) - Global Industry Research
2.Global Fiberglass Fabric Market By Fabric Type Market 2019-2024 ($M)
2.1 Woven Fiberglass Fabric Market 2019-2024 ($M) - Global Industry Research
2.2 Non-Woven Fiberglass Fabric Market 2019-2024 ($M) - Global Industry Research
3.Global Fiberglass Fabric Market By Fiber Type Market 2019-2024 (Volume/Units)
3.1 E-Glass Fabric Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Fiberglass Fabric Market By Fabric Type Market 2019-2024 (Volume/Units)
4.1 Woven Fiberglass Fabric Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Non-Woven Fiberglass Fabric Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Fiberglass Fabric Market By Fiber Type Market 2019-2024 ($M)
5.1 E-Glass Fabric Market 2019-2024 ($M) - Regional Industry Research
6.North America Fiberglass Fabric Market By Fabric Type Market 2019-2024 ($M)
6.1 Woven Fiberglass Fabric Market 2019-2024 ($M) - Regional Industry Research
6.2 Non-Woven Fiberglass Fabric Market 2019-2024 ($M) - Regional Industry Research
7.South America Fiberglass Fabric Market By Fiber Type Market 2019-2024 ($M)
7.1 E-Glass Fabric Market 2019-2024 ($M) - Regional Industry Research
8.South America Fiberglass Fabric Market By Fabric Type Market 2019-2024 ($M)
8.1 Woven Fiberglass Fabric Market 2019-2024 ($M) - Regional Industry Research
8.2 Non-Woven Fiberglass Fabric Market 2019-2024 ($M) - Regional Industry Research
9.Europe Fiberglass Fabric Market By Fiber Type Market 2019-2024 ($M)
9.1 E-Glass Fabric Market 2019-2024 ($M) - Regional Industry Research
10.Europe Fiberglass Fabric Market By Fabric Type Market 2019-2024 ($M)
10.1 Woven Fiberglass Fabric Market 2019-2024 ($M) - Regional Industry Research
10.2 Non-Woven Fiberglass Fabric Market 2019-2024 ($M) - Regional Industry Research
11.APAC Fiberglass Fabric Market By Fiber Type Market 2019-2024 ($M)
11.1 E-Glass Fabric Market 2019-2024 ($M) - Regional Industry Research
12.APAC Fiberglass Fabric Market By Fabric Type Market 2019-2024 ($M)
12.1 Woven Fiberglass Fabric Market 2019-2024 ($M) - Regional Industry Research
12.2 Non-Woven Fiberglass Fabric Market 2019-2024 ($M) - Regional Industry Research
13.MENA Fiberglass Fabric Market By Fiber Type Market 2019-2024 ($M)
13.1 E-Glass Fabric Market 2019-2024 ($M) - Regional Industry Research
14.MENA Fiberglass Fabric Market By Fabric Type Market 2019-2024 ($M)
14.1 Woven Fiberglass Fabric Market 2019-2024 ($M) - Regional Industry Research
14.2 Non-Woven Fiberglass Fabric Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Fiberglass Fabric Market Revenue, 2019-2024 ($M)
2.Canada Fiberglass Fabric Market Revenue, 2019-2024 ($M)
3.Mexico Fiberglass Fabric Market Revenue, 2019-2024 ($M)
4.Brazil Fiberglass Fabric Market Revenue, 2019-2024 ($M)
5.Argentina Fiberglass Fabric Market Revenue, 2019-2024 ($M)
6.Peru Fiberglass Fabric Market Revenue, 2019-2024 ($M)
7.Colombia Fiberglass Fabric Market Revenue, 2019-2024 ($M)
8.Chile Fiberglass Fabric Market Revenue, 2019-2024 ($M)
9.Rest of South America Fiberglass Fabric Market Revenue, 2019-2024 ($M)
10.UK Fiberglass Fabric Market Revenue, 2019-2024 ($M)
11.Germany Fiberglass Fabric Market Revenue, 2019-2024 ($M)
12.France Fiberglass Fabric Market Revenue, 2019-2024 ($M)
13.Italy Fiberglass Fabric Market Revenue, 2019-2024 ($M)
14.Spain Fiberglass Fabric Market Revenue, 2019-2024 ($M)
15.Rest of Europe Fiberglass Fabric Market Revenue, 2019-2024 ($M)
16.China Fiberglass Fabric Market Revenue, 2019-2024 ($M)
17.India Fiberglass Fabric Market Revenue, 2019-2024 ($M)
18.Japan Fiberglass Fabric Market Revenue, 2019-2024 ($M)
19.South Korea Fiberglass Fabric Market Revenue, 2019-2024 ($M)
20.South Africa Fiberglass Fabric Market Revenue, 2019-2024 ($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)