Global Fiberglass Industry
Fiberglass market worldwide is projected to grow by US$7 Billion, driven by a compounded growth of 5. 9%. Glass Wool, one of the segments analyzed and sized in this study, displays the potential to grow at over 6.
Global Fiberglass Market To Reach $21.4 Billion By 2027
Amid the COVID-19 crisis, the global market for Fiberglass estimated at US$15.3 Billion in the year 2020, is projected to reach a revised size of US$21.4 Billion by 2027, growing at a CAGR of 5% over the analysis period 2020-2027. Glass Wool, one of the segments analyzed in the report, is projected to record a 5.9% CAGR and reach US$6.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Direct and Assembled Roving segment is readjusted to a revised 5% CAGR for the next 7-year period.
Yarn Segment To Record 4.1% CAGR
In the global Yarn segment, USA, Canada, Japan, China and Europe will drive the 3.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.3 Billion in the year 2020 will reach a projected size of US$2.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.8 Billion by the year 2027, while Latin America will expand at a 5.1% CAGR through the analysis period. We bring years of research experience to this 7th edition of our report. The 388-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.