India Fiberglass Market Expected to Grow at High CAGR Through 2028
According to TechSci Research report, “India Fiber Glass Market - By Region, Competition, Forecast & Opportunities, 2028”, India Fiber Glass Market plays a significant role in the infrastructure industry. Moreover, it is anticipated that the country's demand for fiber glass would benefit from real estate development activities, a growing focus on green building, and the development of smart cities throughout the course of the forecast period.
Based on glass type, S-Glass type is the fastest-growing glass type of fiberglass, in terms of value, while S-glass is stronger and more rigid than E-glass, it shares many of the same characteristics. High power aluminosilicate of magnesium is used to create S-glass. S-glass Fiber is utilized in applications that call for great strength and stability under extreme temperatures and corrosive conditions because it performs well at high temperatures. The best performing fiber now in the market is called S-glass, which is also available in the international market. It is made with a higher silica content than typical glass fiber goods. This sort of glass is frequently used in the composite and textile industries. It possesses increased impact resistance, strong compressive strength, and resistance to high temperatures.
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Based on product type, chopped strand is the fastest-growing product type of fiberglass, in terms of value. Fiberglass strands known as chopped strands, are added to thermoplastic and thermoset composites as reinforcement. For use in construction projects, these strands can be combined with resins to create strengthening gap filler. To make water tanks, yachts, and industrial equipment, chopped strands are combined with polyester resins to create robust, stiff, and long-lasting laminates. Glass fiber filaments can be used to create chopped strand mats that can be orientated either randomly or uniformly. They can be used to manually lay out thermoset resins to create a variety of products for the chemical, automotive, and recreational industries.
Based on application, composites is the fastest-growing application of fiberglass. In terms of value. Based on application, the India Fiberglass market is divided into composites and insulation. The composites market sector represented a sizeable portion of the fiberglass market in terms of value in 2021. The construction and automotive industries' rapid expansion is to blame for the greater share of the composites application category.
In terms of regional analysis, the India Fiber Glass Market is segmented into west, south, north, and east. North is the dominant region. In the area, there are more people working on building and developing infrastructure, making more cars, and installing more solar panels. The expansion of the area is linked to higher motor car sales there. The manufacturing of windscreens, windows, headlights, and other automotive parts are only a few of the various uses for clear glass in the automotive sector. Moreover, the region's market is growing as a result of expanding disposable income, elevated consumer awareness, and quick industrialization.
Key market players in the India Fiber Glass Market include:
- Bansal Fiber Glass
- Cosmos Fibre Glass Ltd
- P. Twiga Fiber Glass Ltd.
- Fibre Mould (India)
- Rohit Fibre Glass Industries
- Srm (India) Ltd.
- Shree Ganesh Fiber Glass Co.
- Nav Jeevan Fiber Glass Pvt. Ltd.
- Jain Fibre Glass Industries
- Fiberglass world (Sunny Verma Fiberglass Works)
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Fiberglass has much wider range of uses now than it had a few years ago, particularly in the construction, transportation, and automotive sectors. All end-use industries have greatly boosted their use of composite and synthetic materials in recent years. The need for fiberglass panels, fiberglass resin, and fiberglass epoxy has significantly increased in the automotive and transportation industries. The OICA (Organization International des Constructers automobiles) estimates that 80,145,988 units of the vehicle were produced globally in 2021. Owing to their role in making automobile chassis lighter without compromising strength, these composite materials will become increasingly necessary as vehicle manufacturing increases.
“The India Fiber Glass Market is expected to expand during the forecast period. Construction and infrastructure, aircraft, wind energy, the automotive industry, electronics, and other end-use industries all use fiber glass composites. The demand for fiber glass in the wind energy and automotive end-use industries is supported by the growth of wind energy projects and the demand for lightweight materials from the automobile industry and many more factors are expected to drive the market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Fiber Glass Market–By Glass Type (E-Glass, ECR-Glass, H-Glass, AR-Glass, S-Glass), By Product Type (Glass Wool, Direct & Assembled Roving, Yarn, Chopped Strand), By Application (Composites, Insulation), By Region, Competition, Forecast & Opportunities, 2028”, has evaluated the future growth potential of India Fiber Glass Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the India Fiber Glass Market.
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