PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1530869
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1530869
Glass Fiber Market Forecasts to 2030 - Global Analysis By Product, Application, End User and By Geography
According to Stratistics MRC, the Global Glass Fiber Market is accounted for $24.15 billion in 2024 and is expected to reach $37.27 billion by 2030 growing at a CAGR of 7.5% during the forecast period. Glass fiber, also known as fiberglass, is a versatile material composed of extremely fine fibers of glass. These fibers are typically woven into a mat or cloth and bound together with a resin to create a strong and lightweight composite material. Glass fiber finds extensive use in various industries due to its excellent mechanical properties, including high tensile strength, flexibility, and resistance to heat and corrosion.
According to the United States Census Bureau, construction spending in February 2024 grew by 10.7% from February 2023 estimate. According to the International Trade Administration, approximately USD 27 trillion will be spent on new infrastructure in China during the 14th Five-Year Plan between 2021 and 2025, with an estimated value of EUR 4.2 trillion.
Market Dynamics:
Driver:
Rising wind energy installations
The increasing installations of wind energy systems are driving substantial advancements in glass fiber technology. Glass fiber, a crucial component in wind turbine blades, is benefiting from ongoing research and development spurred by the booming renewable energy sector. These fibers, known for their strength, durability, and light weight, are essential for manufacturing longer and more efficient turbine blades. As wind turbines grow taller and their blades longer to capture higher wind speeds at greater altitudes, the demand for advanced glass fiber composites intensifies. Furthermore, innovations in glass fiber technology include enhancements in composition, such as incorporating stronger materials or refining manufacturing processes to achieve higher performance and durability standards.
Restraint:
Volatility in raw material prices
Volatility in raw material prices poses a significant challenge to the glass fiber industry. Glass fibers are manufactured from raw materials such as silica sand, limestone, and other chemicals, whose prices can fluctuate due to global economic conditions, supply chain disruptions, and geopolitical factors. These fluctuations directly impact production costs, making it difficult for manufacturers to predict and stabilize their expenses. However, businesses in the glass fiber sector face increased operational risks, including potential margin squeezes and financial instability.
Opportunity:
Urbanization and infrastructure development
Urbanization and infrastructure development are driving the demand for glass fiber due to its versatile applications and durability. As cities expand, there is a growing need for stronger, lighter, and more resilient materials to construct buildings, roads, bridges, and other critical infrastructure. Glass fiber, composed of fine strands of glass, is renowned for its high strength-to-weight ratio and resistance to corrosion and weathering, making it ideal for reinforcing concrete, plastics, and composites used in construction. Moreover, the increasing emphasis on sustainability is boosting the adoption of glass fiber, as it can contribute to making structures more energy-efficient and environmentally friendly. Its ability to enhance the structural integrity of buildings and infrastructure while reducing maintenance costs further underscores its value in modern urban development.
Threat:
Health and safety issues
Health and safety issues are significant obstacles hindering the glass fiber industry. The production and handling of glass fibers involve exposure to potentially harmful substances such as silica dust, which can cause respiratory problems like silicosis if adequate precautions are not taken. The process of manufacturing glass fibers often requires high temperatures and the use of chemicals, posing risks of burns and chemical exposures to workers if safety protocols are not strictly followed. However, the physical properties of glass fibers, such as their fine and sharp structure, can also lead to skin irritation and injury if proper handling techniques and protective gear are not used.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the glass fiber industry. Initially, disruptions in supply chains caused delays in raw material deliveries and manufacturing processes, leading to reduced production outputs. Travel restrictions and lockdowns further exacerbated these challenges, affecting workforce availability and operational continuity. Fluctuating demand patterns due to global economic uncertainties during the pandemic affected the market dynamics of glass fiber products. However, the pandemic also prompted innovations in remote work technologies and digitalization efforts within the industry, accelerating digital transformation initiatives.
The Performance Glass Fiber segment is expected to be the largest during the forecast period
Performance Glass Fiber segment is expected to be the largest during the forecast period. Unlike traditional glass fibers used primarily for insulation and reinforcement, Performance Glass Fibers are engineered to meet higher standards of strength, durability, and versatility. This segment focuses on enhancing the mechanical properties and performance characteristics of glass fibers through advanced manufacturing processes and innovative materials. Moreover, by incorporating specialized coatings, additives, or altering the fiber composition itself, manufacturers can tailor these fibers to meet specific performance requirements demanded by modern technological advancements.
The Optical Fibers segment is expected to have the highest CAGR during the forecast period
Optical Fibers segment is expected to have the highest CAGR during the forecast period. Originally developed for telecommunications, optical fibers are now indispensable in various industries such as healthcare, aerospace, and automotive due to their unparalleled ability to transmit data over long distances at high speeds with minimal signal loss. This demand has driven continuous advancements in glass fiber manufacturing, focusing on improving strength, flexibility, and transmission capacity. Innovations in material science and manufacturing processes have led to the production of optical fibers that are thinner, lighter, and more durable than ever before, expanding their applications beyond traditional uses.
Region with largest share:
North America region commanded the largest share of the market throughout the extrapolated period. Companies are increasingly adopting sustainable practices, such as using recycled materials and reducing energy consumption during production processes throughout the region. This shift not only addresses environmental concerns but also aligns with growing consumer preferences for eco-friendly products. Additionally, sustainability initiatives are driving innovation within the sector, leading to the development of more efficient manufacturing techniques and the introduction of bio-based materials.
Region with highest CAGR:
Europe region is projected to hold profitable growth during the forecasted period due to sustainable and energy-efficient construction practices, where glass fibers are valued for their lightweight and durable properties. Stringent regulatory requirements for enhanced safety standards in construction have bolstered the adoption of glass fiber materials, which offer superior strength and fire resistance compared to traditional alternatives. Moreover, the increasing investments in infrastructure projects across Europe, aimed at modernizing and expanding urban areas, further amplify the demand for glass fiber composites in applications such as reinforcement materials for concrete and insulation.
Key players in the market
Some of the key players in Glass Fiber market include AGY Holding Corporation, Ashland Global Holdings Inc, BGF Industries, Inc, Celanese Corporation, Chomarat Group, Hexcel Corporation, KCC Corporation, Montex Glass Fibre Industries Pvt. Ltd, Nippon Electric Glass Co.,Ltd and PPG Industries.
Key Developments:
In October 2023, Ahlstrom (a manufacturer of fiber-based materials) introduced its new glass fiber tissue line for high-performance building materials. As the market shifts toward sustainable, high-performance building materials, Ahlstrom continues expanding its glass fiber tissue businesses and strengthening its manufacturing operations worldwide with the completion of a significant investment at its manufacturing facility in Madisonville, Kentucky, the United States.
In September 2022, SABIC, a leading name in the glass fiber products space, announced the launch of its new glass-fiber reinforced polypropylene compounds for structural applications in the automotive industry.
In August 2022, Owens Corning and Pultron Composites collaborated to manufacture fiberglass rebar. The joint venture between the companies will provide them with more sustainable product solutions. Thus, the companies launched PINKBAR Fiberglas Rebar, used in flatwork and residential applications, and MATEENBAR Fiberglas Rebar, used in heavy-load structural applications in newer markets.
Products Covered:
- Performance Glass Fiber
- E-Class Glass Fiber
Applications Covered:
- Filtration Media
- Insulation
- Optical Fibers
- Reinforcements
- Composites
- Other Applications
End Users Covered:
- Aerospace and Defense
- Building and Construction
- Electrical and Electronics
- Transportation
- Other End Users
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Product Analysis
- 3.7 Application Analysis
- 3.8 End User Analysis
- 3.9 Emerging Markets
- 3.10 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Glass Fiber Market, By Product
- 5.1 Introduction
- 5.2 Performance Glass Fiber
- 5.3 E-Class Glass Fiber
6 Global Glass Fiber Market, By Application
- 6.1 Introduction
- 6.2 Filtration Media
- 6.3 Insulation
- 6.4 Optical Fibers
- 6.5 Reinforcements
- 6.6 Composites
- 6.7 Other Applications
7 Global Glass Fiber Market, By End User
- 7.1 Introduction
- 7.2 Aerospace and Defense
- 7.3 Building and Construction
- 7.4 Electrical and Electronics
- 7.5 Transportation
- 7.6 Other End Users
8 Global Glass Fiber Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 AGY Holding Corporation
- 10.2 Ashland Global Holdings Inc
- 10.3 BGF Industries, Inc
- 10.4 Celanese Corporation
- 10.5 Chomarat Group
- 10.6 Hexcel Corporation
- 10.7 KCC Corporation
- 10.8 Montex Glass Fibre Industries Pvt. Ltd
- 10.9 Nippon Electric Glass Co.,Ltd
- 10.10 PPG Industries
List of Tables
- Table 1 Global Glass Fiber Market Outlook, By Region (2022-2030) ($MN)
- Table 2 Global Glass Fiber Market Outlook, By Product (2022-2030) ($MN)
- Table 3 Global Glass Fiber Market Outlook, By Performance Glass Fiber (2022-2030) ($MN)
- Table 4 Global Glass Fiber Market Outlook, By E-Class Glass Fiber (2022-2030) ($MN)
- Table 5 Global Glass Fiber Market Outlook, By Application (2022-2030) ($MN)
- Table 6 Global Glass Fiber Market Outlook, By Filtration Media (2022-2030) ($MN)
- Table 7 Global Glass Fiber Market Outlook, By Insulation (2022-2030) ($MN)
- Table 8 Global Glass Fiber Market Outlook, By Optical Fibers (2022-2030) ($MN)
- Table 9 Global Glass Fiber Market Outlook, By Reinforcements (2022-2030) ($MN)
- Table 10 Global Glass Fiber Market Outlook, By Composites (2022-2030) ($MN)
- Table 11 Global Glass Fiber Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 12 Global Glass Fiber Market Outlook, By End User (2022-2030) ($MN)
- Table 13 Global Glass Fiber Market Outlook, By Aerospace and Defense (2022-2030) ($MN)
- Table 14 Global Glass Fiber Market Outlook, By Building and Construction (2022-2030) ($MN)
- Table 15 Global Glass Fiber Market Outlook, By Electrical and Electronics (2022-2030) ($MN)
- Table 16 Global Glass Fiber Market Outlook, By Transportation (2022-2030) ($MN)
- Table 17 Global Glass Fiber Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 18 North America Glass Fiber Market Outlook, By Country (2022-2030) ($MN)
- Table 19 North America Glass Fiber Market Outlook, By Product (2022-2030) ($MN)
- Table 20 North America Glass Fiber Market Outlook, By Performance Glass Fiber (2022-2030) ($MN)
- Table 21 North America Glass Fiber Market Outlook, By E-Class Glass Fiber (2022-2030) ($MN)
- Table 22 North America Glass Fiber Market Outlook, By Application (2022-2030) ($MN)
- Table 23 North America Glass Fiber Market Outlook, By Filtration Media (2022-2030) ($MN)
- Table 24 North America Glass Fiber Market Outlook, By Insulation (2022-2030) ($MN)
- Table 25 North America Glass Fiber Market Outlook, By Optical Fibers (2022-2030) ($MN)
- Table 26 North America Glass Fiber Market Outlook, By Reinforcements (2022-2030) ($MN)
- Table 27 North America Glass Fiber Market Outlook, By Composites (2022-2030) ($MN)
- Table 28 North America Glass Fiber Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 29 North America Glass Fiber Market Outlook, By End User (2022-2030) ($MN)
- Table 30 North America Glass Fiber Market Outlook, By Aerospace and Defense (2022-2030) ($MN)
- Table 31 North America Glass Fiber Market Outlook, By Building and Construction (2022-2030) ($MN)
- Table 32 North America Glass Fiber Market Outlook, By Electrical and Electronics (2022-2030) ($MN)
- Table 33 North America Glass Fiber Market Outlook, By Transportation (2022-2030) ($MN)
- Table 34 North America Glass Fiber Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 35 Europe Glass Fiber Market Outlook, By Country (2022-2030) ($MN)
- Table 36 Europe Glass Fiber Market Outlook, By Product (2022-2030) ($MN)
- Table 37 Europe Glass Fiber Market Outlook, By Performance Glass Fiber (2022-2030) ($MN)
- Table 38 Europe Glass Fiber Market Outlook, By E-Class Glass Fiber (2022-2030) ($MN)
- Table 39 Europe Glass Fiber Market Outlook, By Application (2022-2030) ($MN)
- Table 40 Europe Glass Fiber Market Outlook, By Filtration Media (2022-2030) ($MN)
- Table 41 Europe Glass Fiber Market Outlook, By Insulation (2022-2030) ($MN)
- Table 42 Europe Glass Fiber Market Outlook, By Optical Fibers (2022-2030) ($MN)
- Table 43 Europe Glass Fiber Market Outlook, By Reinforcements (2022-2030) ($MN)
- Table 44 Europe Glass Fiber Market Outlook, By Composites (2022-2030) ($MN)
- Table 45 Europe Glass Fiber Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 46 Europe Glass Fiber Market Outlook, By End User (2022-2030) ($MN)
- Table 47 Europe Glass Fiber Market Outlook, By Aerospace and Defense (2022-2030) ($MN)
- Table 48 Europe Glass Fiber Market Outlook, By Building and Construction (2022-2030) ($MN)
- Table 49 Europe Glass Fiber Market Outlook, By Electrical and Electronics (2022-2030) ($MN)
- Table 50 Europe Glass Fiber Market Outlook, By Transportation (2022-2030) ($MN)
- Table 51 Europe Glass Fiber Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 52 Asia Pacific Glass Fiber Market Outlook, By Country (2022-2030) ($MN)
- Table 53 Asia Pacific Glass Fiber Market Outlook, By Product (2022-2030) ($MN)
- Table 54 Asia Pacific Glass Fiber Market Outlook, By Performance Glass Fiber (2022-2030) ($MN)
- Table 55 Asia Pacific Glass Fiber Market Outlook, By E-Class Glass Fiber (2022-2030) ($MN)
- Table 56 Asia Pacific Glass Fiber Market Outlook, By Application (2022-2030) ($MN)
- Table 57 Asia Pacific Glass Fiber Market Outlook, By Filtration Media (2022-2030) ($MN)
- Table 58 Asia Pacific Glass Fiber Market Outlook, By Insulation (2022-2030) ($MN)
- Table 59 Asia Pacific Glass Fiber Market Outlook, By Optical Fibers (2022-2030) ($MN)
- Table 60 Asia Pacific Glass Fiber Market Outlook, By Reinforcements (2022-2030) ($MN)
- Table 61 Asia Pacific Glass Fiber Market Outlook, By Composites (2022-2030) ($MN)
- Table 62 Asia Pacific Glass Fiber Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 63 Asia Pacific Glass Fiber Market Outlook, By End User (2022-2030) ($MN)
- Table 64 Asia Pacific Glass Fiber Market Outlook, By Aerospace and Defense (2022-2030) ($MN)
- Table 65 Asia Pacific Glass Fiber Market Outlook, By Building and Construction (2022-2030) ($MN)
- Table 66 Asia Pacific Glass Fiber Market Outlook, By Electrical and Electronics (2022-2030) ($MN)
- Table 67 Asia Pacific Glass Fiber Market Outlook, By Transportation (2022-2030) ($MN)
- Table 68 Asia Pacific Glass Fiber Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 69 South America Glass Fiber Market Outlook, By Country (2022-2030) ($MN)
- Table 70 South America Glass Fiber Market Outlook, By Product (2022-2030) ($MN)
- Table 71 South America Glass Fiber Market Outlook, By Performance Glass Fiber (2022-2030) ($MN)
- Table 72 South America Glass Fiber Market Outlook, By E-Class Glass Fiber (2022-2030) ($MN)
- Table 73 South America Glass Fiber Market Outlook, By Application (2022-2030) ($MN)
- Table 74 South America Glass Fiber Market Outlook, By Filtration Media (2022-2030) ($MN)
- Table 75 South America Glass Fiber Market Outlook, By Insulation (2022-2030) ($MN)
- Table 76 South America Glass Fiber Market Outlook, By Optical Fibers (2022-2030) ($MN)
- Table 77 South America Glass Fiber Market Outlook, By Reinforcements (2022-2030) ($MN)
- Table 78 South America Glass Fiber Market Outlook, By Composites (2022-2030) ($MN)
- Table 79 South America Glass Fiber Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 80 South America Glass Fiber Market Outlook, By End User (2022-2030) ($MN)
- Table 81 South America Glass Fiber Market Outlook, By Aerospace and Defense (2022-2030) ($MN)
- Table 82 South America Glass Fiber Market Outlook, By Building and Construction (2022-2030) ($MN)
- Table 83 South America Glass Fiber Market Outlook, By Electrical and Electronics (2022-2030) ($MN)
- Table 84 South America Glass Fiber Market Outlook, By Transportation (2022-2030) ($MN)
- Table 85 South America Glass Fiber Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 86 Middle East & Africa Glass Fiber Market Outlook, By Country (2022-2030) ($MN)
- Table 87 Middle East & Africa Glass Fiber Market Outlook, By Product (2022-2030) ($MN)
- Table 88 Middle East & Africa Glass Fiber Market Outlook, By Performance Glass Fiber (2022-2030) ($MN)
- Table 89 Middle East & Africa Glass Fiber Market Outlook, By E-Class Glass Fiber (2022-2030) ($MN)
- Table 90 Middle East & Africa Glass Fiber Market Outlook, By Application (2022-2030) ($MN)
- Table 91 Middle East & Africa Glass Fiber Market Outlook, By Filtration Media (2022-2030) ($MN)
- Table 92 Middle East & Africa Glass Fiber Market Outlook, By Insulation (2022-2030) ($MN)
- Table 93 Middle East & Africa Glass Fiber Market Outlook, By Optical Fibers (2022-2030) ($MN)
- Table 94 Middle East & Africa Glass Fiber Market Outlook, By Reinforcements (2022-2030) ($MN)
- Table 95 Middle East & Africa Glass Fiber Market Outlook, By Composites (2022-2030) ($MN)
- Table 96 Middle East & Africa Glass Fiber Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 97 Middle East & Africa Glass Fiber Market Outlook, By End User (2022-2030) ($MN)
- Table 98 Middle East & Africa Glass Fiber Market Outlook, By Aerospace and Defense (2022-2030) ($MN)
- Table 99 Middle East & Africa Glass Fiber Market Outlook, By Building and Construction (2022-2030) ($MN)
- Table 100 Middle East & Africa Glass Fiber Market Outlook, By Electrical and Electronics (2022-2030) ($MN)
- Table 101 Middle East & Africa Glass Fiber Market Outlook, By Transportation (2022-2030) ($MN)
- Table 102 Middle East & Africa Glass Fiber Market Outlook, By Other End Users (2022-2030) ($MN)
