Fiberglass Market Size, Opportunities, Share, Top Companies, Growth, Regional Trends, Key Segments, Graph and Forecast to 2028
The fiberglass market is projected to grow from USD 27.7 billion in 2022 to USD 44.3 billion by 2028, at a CAGR of 7.3% during the forecast period. Fiberglass, also known as glass-reinforced plastic (GRP), is a composite material of fine glass fibers and a polymer resin. It is a lightweight, durable, and corrosion-resistant material widely used in the construction, automotive, aerospace, and marine industries. These advantages help to reduce maintenance costs, increase equipment lifespan, and improve operational efficiency. These factors are projected to fuel market development in the upcoming years.
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Major manufacturers in the fiberglass market are based in Asia Pacific and Europe. Baker China Jushi Co., Ltd. (China), Owens Corning (US), Saint-Gobain (France), Taishan Fiberglass Inc. (CTG Group) (China), Chongqing Polycomp International Corp. (CPIC) (China), Nippon Electric Glass Co., Ltd. (Japan), are among a few leading players operating in the fiberglass market. Major focus was given to the development of new manufacturing processes for fiberglass and recent deals due to the changing requirements across the world. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand their presence in the fiberglass market further.
China Jushi Co., Ltd. (China)
China Jushi Co., Ltd. is a joint-stock company and one of the leading fiberglass manufacturers globally. The company is engaged in the research, production, and distribution of fiberglass along with plastic floorboard manufacturing. The company operates through three segments, namely glass fiber and its product, other products, and businesses. China Jushi Co., Ltd. offers fiberglass products from glass fiber and its product segment.
China Jushi Co., Ltd. specializes in the production of fiberglass yarns, rovings, chopped strands, and mats, which are used in a wide range of industries, including construction, transportation, wind energy, and electronics. It produces rovings, chopped strands, stitched combo mats & chopped strand mats, powder & emulsion chopped strand mats, woven rovings, and electrical yarns & fabrics in over 100 product categories with over 1,000 specifications. It also produces E-glass and C-glass fiberglass products. The company also produces FRP (fiberglass reinforced plastic) products, such as pipes, tanks, and profiles, for use in infrastructure projects.
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Owens Corning (US)
Owens Owens Corning is a global company that develops and produces insulation, roofing, and fiberglass composites. Founded in 1938, Owens Corning has become a leading manufacturer of building materials and composite solutions for residential, commercial, and industrial applications. The company operates in three business segments: Insulation, Roofing, and Composites. The Insulation segment produces insulation products such as fiberglass insulation for residential and commercial construction. The Roofing segment produces shingles, roofing accessories, and underlayment for residential and commercial buildings. The Composites segment produces products such as glass fiber reinforcements, resins, and fabric for industrial, automotive, and aerospace applications. Additionally, it provides loose-fill insulation, foam sheathing for walls and accessories, thermal and acoustical batts, and other products that are marketed under well-known brand names and trademarks, like Owens Corning PINK FIBERGLAS Insulation.
Owens Corning has a geographic footprint in North America, Europe, and Asia Pacific, offering a broad fiberglass product portfolio. Some of the key competitors of the company are Nippon Electric Glass Co., Ltd. (Japan), Chongqing Polycomp International Corp. (CPIC) (China), China Jushi Co., Ltd. (China), and 3B-the Fibreglass Company (Belgium).
Chongqing Polycomp International Corp. (CPIC) (China)
Chongqing Polycomp International Corp. (CPIC) is a large state-owned enterprise. The company mainly produces glass fabric series products, such as high-quality alkali-free fiberglass. Its products are widely used in the fields of urban architecture, interior decoration, and mechatronics. The wide range of fiberglass products offered by CPIC is used in various applications across end-use industries such as wind power generation, aviation, construction, and automobile.
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CPIC has manufacturing facilities in Brazil, Bahrain, and China. Its annual fiberglass manufacturing capacity exceeds 600,000 tonnes, and its glass fabric production capacity surpasses 150 million meters. CPIC has four sales subsidiaries in the United States, Europe, Russia, and Hong Kong. Products of CPIC are sold across North America, the Middle East & Africa, Europe, Southeast Asia, and other locations, with exports accounting for more than half of the overall sales volume. CPIC has established long-term collaborative agreements with over 30 foreign corporations, including GE and Dupont. CPIC’s products are prevalent in urban architecture, interior decor, autos, and mechatronics, and they are rapidly gaining a foothold in other growing areas such as wind power generation and aviation.
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