Extensive use in Construction Industry Drives the United States Fiberglass Market
Rising use for
manufacturing of wind turbine blades, growing use in construction applications
and increasing use as composites in the automotive industry, drives the United
States Fiberglass Market through 2023
According to TechSci Research report, “United States Fiberglass Market, By Type
(Glass Wool, Direct and Assembled Roving, Yarn, Chopped Strand and Others), By Glass
Fibre Type (E-Glass, A-Glass, S-Glass, AR-Glass, T-Glass, D-Glass and C-Glass),
By Resin (Thermoset Resins and Thermoplastic Resins), By Applications
(Composites and Glass Wool Insulation), By Company and By Geography, Forecast
& Opportunities, 2023’’, United States Fiberglass Market is projected to post
double-digit CAGR owing to the growing use of fibreglass in wind turbine
installations. Moreover, the increasing use of fibreglass in the construction
applications coupled with rising adoption as composites in the automotive industry.
Based on the type, the glass wool segment is expected to lead the market in the
next five years, due to their use in residential construction for insulation as
it enables to maintain a consistent temperature, allows better comfort and air
quality, reduces the consumption of energy, protects from fire and makes
buildings sound proof.
Moreover,
the rising adoption of fibreglass for various industrial purposes as fiberglass
has very low electrical conductivity, which prevents loss of electricity and is
likely to enable robust growth of the market by 2023. Further, the growing
popularity of composites across various end-use industries is expected to
propel the demand for Fiberglass Market in the United States by 2023.
Based on the applications, the composites
segment is projected to lead the market for the next five years, due to
widespread use of composites in wind energy turbines as fibreglass delivers
high tensile strength, allows the manufacture of large blades thus enabling
high energy output along with providing corrosion resistance.
Owens Corning, PPG Industries Inc., Taishan
Fiberglass Inc., Chongqing Polycomp International Corp. (CPIC), Nippon Electric
Glass Co. Ltd. etc, are major companies operating in the
United States Fiberglass Market.
South Region is projected to lead the United States Fiberglass Market
by 2023, owing to high population density in the region coupled with increasing
adoption of Fiberglass by various end-use industries in the region such as building
and construction, infrastructure, interior etc as fibreglass delivers high
tensile strength and corrosion and chemical resistance which allows its use
across various industries.
“The increasing need for lightweight materials in cars as fibreglass
is much lighter than metal and provides high tensile strength is likely to
drive the growth of fibreglass market during the forecast period. Moreover, the
rising use of E-glass for
military applications is expected to drive the Fiberglass Market through
2023.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based United States management consulting firm.
“United States Fiber glass Market, By Type (Glass Wool, Direct and Assembled Roving, Yarn, Chopped Strand
and Others), By Glass Fibre Type (E-Glass, A-Glass, S-Glass, AR-Glass, T-Glass,
D-Glass and C-Glass), By Resin (Thermoset Resins and Thermoplastic Resins), By Applications
(Composites and Glass Wool Insulation), By Company and By Geography, Forecast
& Opportunities, 2023” has evaluated the future growth potential of United States
Fiberglass Market and provides statistics and information on market size,
structure and future market growth. The report offers decision makers superior
market intelligence, thereby enabling them conduct thorough investment
appraisal. Besides, the report also analyzes the evolving market inclinations along
with indispensable drivers, challenges and opportunities in United States Fiberglass.
Contact
Mr. Ken Mathews
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