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The fiberglass market is projected to grow from USD 17.1 billion in 2019 to USD 23.9 billion by 2024, at a CAGR of 7.0% from 2019 to 2024

NEW YORK, Dec. 26, 2019 /PRNewswire/ --

The fiberglass market is projected to grow at a CAGR of 7.0% from 2019 to 2024, in terms of value.

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The fiberglass market is projected to grow from USD 17.1 billion in 2019 to USD 23.9 billion by 2024, at a CAGR of 7.0% from 2019 to 2024. The growth of the construction industry is driving the fiberglass market.

The glass wool fiberglass segment is projected to lead the fiberglass market in terms of both value and volume from 2019 to 2024.
Based on product type, the glass wool fiberglass segment accounted for the largest share of the fiberglass market in 2018.This segment is projected to lead the market in terms of both value and volume during the forecast period.

The growth of this segment can be attributed to increased usage in the construction & infrastructure end-use.

The composites application segment is projected to lead the fiberglass market in terms of both, value and volume during the forecast period.
Based on application, the composites application segment led the fiberglass market in 2018 in terms of both value and volume. The high growth of the construction and automotive industries in Asia Pacific and North America is driving this segment.

The E-glass segment is projected to lead the fiberglass market in terms of both value and volume from 2019 to 2024.
Based on glass type, the E-glass segment accounted for the largest share of the fiberglass market in 2018.This segment is projected to lead the market in terms of both value and volume during the forecast period.

The growth of this segment can be attributed to its wide-ranging applications and corrosion-resistance and lightweight properties.

The thermoset resins application segment is projected to lead the fiberglass market in terms of both value and volume during the forecast period.
Based on resin type, the thermoset resins segment led the fiberglass market in 2018 in terms of both value and volume. Properties such as excellent resistance to solvents, abrasives, high temperature, and heat, flexibility, excellent adhesion, and high strength, as well as the availability of thermoset resins in various types make it preferable for use across applications.

Asia Pacific is projected to lead the fiberglass market during the forecast period, in terms of both, value and volume.

The Asia Pacific region is projected to lead the fiberglass market from 2019 to 2024 in terms of both, value and volume. The demand for fiberglass is increasing in Asia Pacific, owing to the growth of construction and automotive industries in the region.

Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 60%, Tier 2 – 20%, and Tier 3 – 20%
• By Designation: C-level Executives – 33%, Directors – 33%, and Managers – 34%
• By Region: Asia Pacific – 20%, Europe – 25%, North America – 25%, the Middle East & Africa- 20%, and South America – 10%

China Jushi Co., Ltd. (China), Owens Corning (US), Nippon Electric Glass Co., Ltd. (Japan), Taishan Fiberglass Inc. (CTG) (China), Chongqing Polycomp International Corp. (CPIC), (China), Johns Manville Corp. (US), Binani 3B-the Fibreglass Company (Belgium), Taiwan Glass Ind. Corp. (Taiwan), PFG Fiber Glass (Kunshan) Co. Ltd. (China), Asahi Fiberglass Co. Ltd., (Japan), Knauf Insulation (Belgium), Saint-Gobain Vetrotex (US), CertainTeed Corporation (US), Saint-Gobain ADFORS (US), and AGY Holding Corp. (US) are some of the leading players operating in the fiberglass market.

Research Coverage:
The report defines, segments, and projects the size of the fiberglass market based on glass type, resin type, product type, application, and region.It strategically profiles the key players and comprehensively analyzes their market share and core competencies.

It also tracks and analyzes competitive developments such as expansions, new product launches, agreements, acquisitions, investments, new product developments, and partnerships undertaken by them in the market.

Reasons to Buy the Report:
The report is expected to help market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the fiberglass market and its segments.This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies.

It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.

Read the full report: https://www.reportlinker.com/p05073748/?utm_source=PRN

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