U.S. Fiberglass Market Size, Share & Industry Analysis, By Glass Type (E-Glass and Specialty), By Product (Glass Wool, Yarn, Roving, Chopped Strands, and Others), By Application (Transportation, Building & Construction, Electrical & Electronics, Pipe & Tank, Consumer Goods, Wind Energy, and Others), and Country Forecast 2023-2030

The U.S. fiberglass market size was worth USD 2.52 billion in 2022 and is projected to grow at a CAGR of 4.2% during the forecast period.

Fiberglass is a material that consists of thin fibers of glass and can be used as reinforcement or transformed into a woven layer. Silica sand, soda ash, and limestone are major components used to manufacture this product. Due to its high mechanical strength, lightweight, and chemical stability, it is used in a variety of applications ranging from aircraft, boats, automobiles, electronic goods, storage tanks and pipes, among other things.

The U.S. has witnessed a rapid increase in electric vehicle sales in recent years, and this growth is likely to continue during the forecast period as woven fabric made of polymer and fiberglass is used in various parts of an electric vehicle. According to the U.S. Department of Energy, electric vehicle sales increased by 85% in 2021 compared to the previous year. This includes increased demand for both commercial and passenger vehicles over the last decade. The growth of the automotive industry will have a positive influence on the market. However, the automotive industry was affected significantly during the pandemic due to the decrease in consumer spending on non-essential goods, which resulted in a market decline in 2020.

U.S. Fiberglass Market Trends

Growing Wind Power Industry Expansion to Aid Market Growth

The wind power industry is one of the rapidly growing composite application industries, where reinforced fibers are used to manufacture the light rotor blade. Selecting suitable materials that affect several parameters, including physical properties, load, weight, and fatigue behavior, is a feature of the wind blades’ design. Materials, including steel, bamboo, and aluminum, were used to produce wind blades earlier. However, at present, in several wind applications, composites, such as FRP, are used as reinforcement materials. The rigidity characteristics and elevated strengths, combined with their low weight and design versatility, make these composites ideal turbine components.

U.S. Fiberglass Market Growth Factors

Growth of the Construction Industry to Boost Market Growth

Fiberglass is predominantly used as a composite in building and construction activities. Its properties, such as fire resistance, anti-corrosive, lightweight, and excellent strength, are highly used in building materials. It has been commonly used for non-structural components, such as piping, facade panels, and channels, in the construction industry. The increasing adoption of the product in various applications in the construction industry will drive the U.S. fiberglass market growth during the forecast period.

RESTRAINING FACTORS

Volatility of Raw Material Prices to Hinder Market Growth

The prices of raw materials used in the production of fiberglass, such as resins and glass fibers, are subject to fluctuations due to instabilities in supply and demand. This can lead to price volatility for fiber optic products, which may hinder the market growth.

U.S. Fiberglass Market Segmentation Analysis

By Glass Type Analysis

By glass type, the market is bifurcated into E-glass and specialty.

The specialty segment held the major U.S. fiberglass market share in terms of revenue in 2022 and is likely to maintain this trend during the forecast period. Specialty fiberglass, such as S-Glass, has significantly higher tensile strength and modulus and about 10% higher stiffness. Other important properties are excellent moisture resistance, heat resistance, and long fatigue & shelf life. These properties make them suitable for use in various demanding applications. For instance, it is widely used in the aerospace industry for gaskets, cargo liners, and other interior components. These superior properties of specialty glass will drive the segment's growth.

E-glass fibers have widespread use in various applications, such as textile and composite materials. They are resistant to vibrations and abrasion and have good flexibility. Thus, increasing preference for applications is anticipated to drive the segment growth moderately.

By Product Analysis

Based on product, the market is segmented into glass wool, yarn, roving, chopped strands, and others.

The glass wool segment accounted for the largest market share in 2022. Glass wool is manufactured for insulation and is produced into mats, which are cut into batts. The increasing demand for insulating materials from the construction industry will drive segment growth.

The yarn segment is expected to witness significant growth during the forecast period. Fiberglass yarn is most commonly used for filtration, reinforcement and insulation in various industries, such as construction, communal facilities, water treatment, fireproofing systems, and electric power. It has good electrical insulation and high tensile strength. Rising adoption in several industries will drive the segment’s growth.

The chopped strands segment will have significant gains during the forecast period. Chopped strands are used as reinforcement materials globally in conjunction with high-performance resin with a certain substance, added to Fiber Reinforced Plastics (FRP) and Fiber Reinforced Thermoplastics (FRTP) for automotive and electronics applications. Growing automotive and electronics industries will drive segment growth.

By Application Analysis

Based on application, the market is segmented into transportation, building & construction, electrical & electronics, pipe & tank, consumer goods, wind energy, and others.

The transportation segment held a larger share in 2022 due to government regulations, such as U.S. Corporate Average Fuel Economy (CAFÉ) standards, placing pressure on Original Equipment Manufacturers (OEMs) to incorporate lightweight materials to reduce the vehicle's overall weight. Increasing penetration of electronics in the country and the growing product usage in consumer electronics and home appliances is expected to drive the growth of the segment moderately.

Strong research & development activities and collaborations of universities & research institutes with manufacturers to develop next-generation fiberglass for the electronics and wind energy industries may bolster the product demand from these applications.

List of Key Companies in U.S. Fiberglass Market

In terms of the competitive landscape, there is a presence of established and emerging companies in the U.S. fiberglass market. Key companies include Owens Corning, LANXESS, Nippon Electric Glass Co., Ltd., Johns Manville, and Knauf Insulation, among others. Industry players compete primarily based on the price and application characteristics of the product. Companies are emphasizing product innovation, social marketing, acquisition, and collaborations to gain a competitive edge in the market.

LIST OF KEY COMPANIES PROFILED:

• Owens Corning (U.S.)


• LANXESS (Germany)


• Nippon Electric Glass Co., Ltd (Japan)


• Johns Manville (U.S.)


• Knauf Insulation (U.S.)


• SAINT GOBAIN S.A. (France)


• PPG Industries, Inc. (U.S.)


• Knauf Insulation (U.S.)


• American Fiberglass (U.S.)


• Quietflex (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• April 2023: Johns Manville rebuilt and started a fiberglass furnace after its routine maintenance in Slovakia. The Trnava Team and Johns Manville Technical Center in the U.S. conducted this rebuild of the furnace. This furnace rebuild will allow the company to serve its customers with regional production in Europe.


• November 2020 – Johns Manville completed phase one of the expansion of its fiberglass pipe plant located in Defiance, Ohio. In this expansion, the first production line among the two production lines was added. This will improve the company’s ability to serve the demand for fiberglass pipe insulation products, namely, Micro-Lok HP and Micro-Lok HP Ultra, which are used in commercial buildings.

REPORT COVERAGE

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The study report thoroughly examines key factors such as leading companies, applications, and products. It also provides market trends and highlights significant industry advancements. The study includes different variables that have contributed to the market's growth in recent years and the factors listed above. It examines the industry's newest market dynamics and opportunities, as well as historical data and revenue growth estimates at the country level.

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