Fiberglass Market to reach USD 47.5 Billion by 2032, Says Global Market Insights inc.
Fiberglass Industry size is expected to register 6.5% CAGR between 2023 and 2032 propelled by construction and infrastructure development.
Selbyville, Delaware, May 22, 2024 (GLOBE NEWSWIRE) — Fiberglass Market is estimated to be valued at USD 47.5 billion by the end of 2032, as per a
Europe to emerge as a profitable revenue hub
Europe fiberglass market is estimated to record substantial revenue share by 2032, led by the rising compliance with regulations for chemicals, waste management, and emissions associated with fiberglass manufacturing in the region. The strong focus on sustainability and the subsequent efforts to enhance energy efficiency and reduce emissions are driving the demand for bio-based and recycled materials for fiberglass production. For example, in January 2023, the German Institutes of Textile and Fiber Research (DITF) teamed up with Arburg GmbH to develop an energy and material-efficient 3D printing process used in the production of lightweight bio-based fiber composites. The ease of access to manufacturing technologies like automation, robotics, and digital tools will also favor the regional market growth.
Fiberglass Market Participants
Some of the prominent fiberglass firms include Owens Corning, PPG Industries, Nippon Electric Glass (NEG), Saint-Gobain, Johns Manville, and Ashland Global Holdings Inc. among others. These industry players are working on product developments, mergers & acquisition strategies and R&D investments to proliferate their offerings and customer base. For instance, in January 2023, Saint-Gobain completed the ₹400-crore acquisition of India-based Twiga Fiberglass Ltd. in a bid to reinforce its position within the insulation business in the country.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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