Fiberglass Market 2022 Global in-depth Investigation and Analysis Report on Key Players:
According to research study by Fortune Business Insights™ the global fiberglass market price is expected to reach USD 25,525.9 million by 2028, exhibiting a CAGR of 4.9% during the forecast period. The increasing application of fiberglass composites in the automotive industry will accelerate the market growth during the forecast period, states Fortune Business Insights, the market size stood at USD 17,316.8 million in 2020.
Companies covered in fiberglass market research report are 3B - the fibreglass company (Herve, Belgium), LANXESS (Cologne, Germany), Owens Corning (Ohio, U.S.), IMERYS GROUP (Paris, France), China Jushi Co., Ltd. (Jiangxi, China), CTG Group (New York, U.S.), Chongqing Polycomp International Corp. (CPIC) (Chongqing, China).
Russia-Ukraine War Implication
The Russia-Ukraine war could change the market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The long-term implications of the Ukraine-Russia crisis will, in our view, lead to very different chemicals business models as supply chains de-globalise and as manufacturing is brought back home
Market Segments:
E-glass to Hold the Largest Share in the Global Market
Based on product, the market is divided into E-glass, and specialty. E-glass is expected to account for a major share during the forecast period. E-glass offers exceptional performance qualities. The increasing use of environmentally friendly boron-free E-glass fiber is expected to bolster the segment's healthy growth.
Regional Insights:
Increasing Industrialization to Intensify Market Growth in Asia Pacific
Asia Pacific is expected to account for a high fiberglass market share during the forecast period due to the flourishing construction industry in developing countries such as India, Indonesia, and Thailand. The region stood at USD 11,150.7 million in terms of revenue in 2020.
Information source:
https://www.fortunebusinessinsights.com/fiberglass-market-102338
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