Chopped Fiberglass Strand Market was valued at USD 1.5 Billion in 2022 and is projected to reach USD 2.5 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
Looking ahead, the market outlook for chopped fiberglass strands from 2023 to 2033 presents an exciting future driven by technological advancements and growing demand in emerging industries. The automotive sector remains a key driver, with continued demand for lightweight materials that enhance vehicle performance. Additionally, the shift towards electric vehicles (EVs) is expected to further increase the need for high-strength composites, which chopped fiberglass strands are well-positioned to meet. Furthermore, the construction industry’s focus on sustainable building practices and energy-efficient infrastructure is expected to boost the market for chopped fiberglass strands in reinforcing materials. Emerging applications in the aerospace and renewable energy sectors, particularly wind turbine blades, are also expected to propel demand for these versatile materials in the coming decade.
As a result, the chopped fiberglass strand market will likely experience substantial growth over the next decade. Key regions, including North America, Europe, and Asia-Pacific, are expected to dominate the market, with robust demand from developing countries contributing to the overall market expansion. Companies involved in the production and distribution of chopped fiberglass strands are also expected to focus on increasing production capacities, improving fiber quality, and investing in research and development to meet the evolving needs of the market. The increasing popularity of eco-friendly and sustainable materials will further bolster the market’s growth potential as industries continue to prioritize reducing their environmental impact while maintaining high-performance standards.
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The global chopped fiberglass strand market has seen significant growth from 2018 to 2022, driven by its widespread use in industries such as automotive, construction, and electrical. Chopped fiberglass strands, known for their excellent mechanical properties and cost-effectiveness, have been integral to enhancing composite materials used in various applications. During this period, the demand for chopped fiberglass strands surged as industries sought more durable, lightweight, and high-performance materials. Automotive manufacturers, in particular, adopted these fibers for their ability to reduce vehicle weight, improving fuel efficiency and lowering emissions. Moreover, the construction sector utilized chopped fiberglass strands for reinforcing concrete and ensuring long-lasting structural integrity in buildings. These factors contributed to the steady market growth, with the compound annual growth rate (CAGR) recorded at an impressive rate over the last five years.
Owens Corning
PPG Industries
3B Fibreglass
Nippon Electric Glass
Unifrax
LBI Fiberglass
Saint-Gobain Vetrotex
Johns Manville
P.G. & Brothers
Reeve Industries
VALMIERA GLASS GROUP
Taishan Fiberglass
Jushi Group
Chongqing Polycomp
Huierjie New Material Technology
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Chopped Fiberglass Strand Market
Automotive
Construction
Marine
Aerospace
Others
Based on Types the Market is categorized into Below types that held the largest Chopped Fiberglass Strand market share In 2023.
E-Glass Fiber Chopped Strand
S-Glass Fiber Chopped Strand
C-Glass Fiber Chopped Strand
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Chopped Fiberglass Strand Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Chopped Fiberglass Strand Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Chopped Fiberglass Strand Market, By Type
6. Global Chopped Fiberglass Strand Market, By Application
7. Global Chopped Fiberglass Strand Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Chopped Fiberglass Strand Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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