Growing construction & infrastructure Industry is expected to drive the growth of the United States Fiberglass Market.
According to TechSci Research report, “United States Fiberglass Market, By Type (Glass Wool, Direct & Assembled Roving, Chopped Strand, Yarn and Others), By Glass Fiber Type (E Glass, S Glass, C Glass, A Glass, R Glass, AR Glass, Others), By Resin (Thermoset Resins and Thermoplastic Resins), By Application (Composites and Glass Wool Insulation), By End User Industry (Construction & Infrastructure, Automotive, Wind Energy, Electronics, Aerospace & Defense, Others), By Top 10 States, Competition, Forecast & Opportunities, 2016-2026F”, the United States Fiberglass Market is forecast to grow at a rate of 4.85% to reach USD3105.63 million by 2026. Growth in the market can be attributed to the growing construction & infrastructure industry. The United States Fiberglass Market has been primarily influenced by increasing expenditure on interior decoration, rising renovation activities and frequent changes in fiberglass fabric to complement the decor. The rising automotive industry is also accelerating the demand for fiberglass across the United States as it is used in manufacturing of light-weight vehicles due to its higher strength-to-weight ratio. All these factors have resulted in a positive impact on the United States Fiberglass Market.
The United States Fiberglass Market is segmented based on type, glass fiber type, resin, application, and end user industry, by top 10 states, by company. In terms of the type, the market can be segregated into Glass Wool, Direct & Assembled Roving, Chopped Strand, Yarn and Others. Out of these, the glass wool segment registered a dominant market share in 2020. The increasing use of glass wool in thermal and electrical insulation applications in the building and infrastructure sector will drive the sales of glass wool in the forecast period. Another usage of glass wool is in the attic of the building to maintain the temperature inside the building. This is further anticipated to boost the market of glass wool in the United States Fiberglass Market.
Post time: Jul-20-2021