Fiberglass Market for Aerospace Industry Analysis APAC, North America, Europe, South America, Middle East and Africa - US, Canada, China, Japan, Germany - Size and Forecast 2024-2028

Fiberglass Market for Aerospace Industry Forecast 2024-2028

The Fiberglass Market for Aerospace Industry size is forecast to increase by USD 1.01 billion, at a CAGR of 7.15% between 2023 and 2028. 

The market's expansion is propelled by several factors, including the necessity to retrofit cabin seats for enhanced passenger comfort, a rising uptake in emerging markets, and the escalating demand for fuel-efficient aircraft. These dynamics underscore the aviation industry's quest for improved passenger experience, particularly in emerging economies where air travel is surging. Additionally, the growing emphasis on environmental sustainability is driving the demand for fuel-efficient aircraft globally. As airlines strive to optimize operational costs and meet evolving consumer preferences, the market for aircraft retrofitting and upgrades is poised for sustained growth. It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.

What will be the Market Size During the Forecast Period?

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Market Definition 

Fiberglass is a composite material made of glass fibers embedded in a polymer matrix. It is widely used in the aerospace industry for its properties, such as high tensile strength, durability, stiffness, chemical and heat resistance, and thermal conductivity. 

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Market Dynamics

The market in the aerospace industry is driven by the demand for lightweight and environmentally friendly materials. As the sector prioritizes efficiency of operations and safety, fiberglass, known for its corrosion resistance properties and durability, emerges as a preferred choice. However, challenges include raw material costs and competition from alternative materials. Trends indicate a growing adoption of glass fiber-reinforced plastics (GFRP) and advancements in composite materials. Despite challenges, fiberglass continues to dominate major applications in aerospace and defense, ensuring structural integrity and performance. Our researchers analyzed the market research and growth data with 2023  as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage. 

Key Market Growth Analysis Driver

The need for cabin retrofitting seats to enhance passenger comfort is the key factor driving the market. Modern airline operators are keen on investing in cabin retrofitting to maintain a consistent brand image and capture the lucrative business traveler consumer segment. The need for cabin retrofitting is driven by the consumer demand for reliable cabin connectivity, personalized entertainment systems, hands-free commands, micro cabin environments, cabin air quality, medical care, and self-cleaning and anti-bacterial materials. The rising focus on passenger comfort has also resulted in airline operators spending on cabin modernization programs to offer comfortable seats, large overhead bins, and custom thematic experiences to passengers at an affordable price.

Furthermore, the need to differentiate the service levels offered within different classes provided by airline operators adds to the level of personalization in aircraft cabins. The seats made from fiberglass are 30% lighter than the steel seats, and the installation will help the airline cut fuel costs. Thus, the increasing usage of fiberglass for retrofitting seats in aircraft is expected to drive the market during the forecast period.

Significant Market Trends and Analysis

Rising construction for new commercial and defense aircraft is the primary trend shaping market growth. The aviation industry has experienced considerable change in recent times due to the increased demand for new commercial and defense aircraft. This shift has been driven by factors such as population growth, increased urbanization, and rising disposable income globally. As a result of these factors, air travel has become more affordable and accessible to the masses, leading to an increase in the number of people and companies using air transport for business and leisure purposes.

Moreover, commercial airline companies have accelerated their efforts to renew their fleets to accommodate the rising demand for air travel. Further, countries around the world are looking to expand their defense capabilities, with many of them investing in new and modern fighter jets, transport aircraft, and unmanned aerial systems for surveillance and intelligence gathering. Military aircraft are also being developed with advanced technologies, such as supersonic speed, stealth capabilities, and increased range, to improve their performance. Thus, these factors are expected to drive the expansion of the market during the forecast period.

Major Market Challenge

Health hazards associated with fiberglass exposure is a major challenge that affects market expansion. The use of such glass poses numerous health risks for people who work with it. It easily enters the body because of its small size and causes certain diseases. Short-term exposure, such as direct contact or inhaling dust particles, can cause irritation to the skin, nose, and throat. Long-term exposure to airborne fiberglass may cause asthma or bronchitis, lung infection, and lung cancer. Symptoms include nose irritation, headache, dizziness, and nausea and depend on the concentration of inhaled fiberglass resins.

In addition, respiratory tract irritation is a major hazard caused by exposure to fiberglass. Digestive tract irritation may be caused by the ingestion of fine fiberglass. Small fibers have a high potential to reach the lower parts of the lungs and cause adverse health effects. Rising awareness about the side effects of fiberglass hampers its demand in end-user industries, which will negatively impact the development of the market during the forecast period.

Segmentation by Application, Type, and Geography 

The market serves a critical role in various sectors, prominently in the aerospace industry. As a key material, fiberglass offers remarkable advantages, including lightweight, corrosion resistance properties, and environmental friendliness, making it highly sought-after for aerospace applications. In the aircraft sector, fiberglass-based composite materials such as glass fiber reinforced plastics (GFRP) are extensively utilized due to their lightweight and high strength. These materials contribute to enhancing the efficiency of operations and reducing maintenance costs in aerospace manufacturing. Moreover, fiberglass finds major applications in aerospace and defense, particularly in the construction of panels for aircraft interiors and exteriors. Its versatility extends to other industries such as construction, transportation, wind energy, and marine, where fiberglass components are pivotal for various structural and functional requirements. Overall, fiberglass continues to play a crucial role in the aerospace industry, driving advancements in safety, performance, and efficiency while catering to diverse needs across different segments.

Application Analysis 

The market share by the structural parts segment will be significant during the forecast years. Fiberglass is increasingly popular for the construction of parts, which include fuselage, stabilizers, wings, landing gear, and tail. Composites may make up as much as 50% of the weight of modern aircraft. Although there are many different composite matrices used in aerospace goods, fiberglass is still one of the most commonly utilized reinforcements.

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The structural parts segment accounted for USD 586.67 million in 2018. Moreover, fiberglass is a widely preferred material for manufacturing structural parts of aircraft as it provides high strength and durability to automobile parts. The major benefit of using fiberglass for aircraft structural parts is its cost is lower than other composite materials, it is highly resistant to chemical or galvanic corrosion, and it provides improved electrical properties. Thus, the increasing application will drive the growth of the segment and, in turn, the market during the forecast period.

Type Analysis 

The thermoset resins segment will account for the largest share of this segment.?Thermoset resins like epoxy, polyester, and vinyl ester are pivotal in aerospace for their mechanical prowess, thermal stability, and chemical resilience. Epoxy's strength and adhesion make it ideal for wings and fuselages. Polyester, cost-effective and weather-resistant, finds use in fairings and radomes. Vinyl ester, prized for its strength, is employed in fuel tanks and interior panels, propelling the growth of thermoset resins in the market during the forecast period.

Region Analysis

APAC is estimated to contribute 36% to the growth of the global market during the projection period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the projection period.

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The growth in the construction of aircraft in APAC has fueled the demand for lightweight materials such as fiberglass that exhibit high strength and excellent durability. The growth of the regional market is supported by the huge fleet of aircraft present in countries in APAC, especially in India, China, Japan, Singapore, and Malaysia. China is among the leading countries in the civil aerospace and aviation services industry.

Further, aircraft operators across APAC are focusing on increasing their operational fleet to cater to the rapidly increasing number of passengers in the region. The outcome of China's maturing aviation industry is aging fleets, which demand the replacement and disposal of outdated aircraft cabin components, such as structural parts, seats, closets, and floorings. Thus, the increased demand for aircraft will fuel the growth of the market in the APAC during the forecast period.

Key Companies

Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.

• 3B the fiberglass Co.: The company offers fiberglass such as direct roving and continuous filament mat glass fibers for aerospace industry.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including: 

AGY Holding Corp., ATKINS and PEARCE Inc., China Jushi Co. Ltd., Compagnie de Saint Gobain, Hexcel Corp., Huntsman International LLC, Johns Manville, JPS Composite Materials, Montex Glass Fibre Industries Pvt. Ltd., Nan Ya Plastic Corp., Nitto Boseki Co. Ltd., Park Aerospace Corp., Phelps Industrial Products LLC, Piran Advanced Composites, Porcher Industries, SAERTEX GmbH and Co.KG, Sinoma Science and Technology Co. Ltd., Taiwan Glass Ind. Corp., and Tencom Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market report predicts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2028. 

• Application Outlook 
  • Structural parts
  • Flooring
  • Closets
  • Seating
  • Others

• Type Outlook
  • Thermoset resins
  • Thermoplastic resins

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Brazil
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analyst Overview:

The market plays a pivotal role in various sectors, including the aerospace industry. As the aerospace sector seeks lightweight materials and durable materials to enhance fuel efficiency and performance, fiberglass emerges as a prime choice. With its high strength-to-weight ratio and corrosion resistance properties, fiberglass finds extensive use in aircraft manufacturing. Moreover, the construction of aircraft interiors and exteriors relies on fiberglass for its durability and eco-friendly characteristics. In addition, the wind energy industry benefits from fiberglass in the construction of wind turbine blades, which require materials with corrosion resistance and high strength.

The automotive industry also utilizes fiberglass for lightweighting initiatives, enhancing fuel economy and reducing emissions. Continuous innovation and technology advancements drive the demand for fiberglass in the aerospace and other industries, promoting sustainability and energy efficiency. However, challenges such as raw material costs and price instability pose constraints to the market's growth in the aerospace sector. Nonetheless, with strong fibers and durable surfaces, fiberglass remains integral to enhancing safety and performance in aerospace applications.

Moreover, The use of High-strength materials in various industries such as Electrical and Electronics, Automobiles, and Boats is crucial for ensuring product quality and compliance with regulations. These materials, including Glass wool and Chopped strand, are also used in Insulation for Roofing materials and Residential construction. They provide Thermal insulation properties and Fire resistance, reducing Energy consumption and Heating and cooling costs. In the manufacturing process, Raw materials like Yarn are used in conjunction with Molten glass for Spinning and creating Textiles. These materials play a vital role in meeting environmental impact standards and improving overall product efficiency.

Market Scope
Report Coverage	Details
Page number	158
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 7.15%
Market Growth 2024-2028	USD 1.01 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	6.32
Regional analysis	APAC, North America, Europe, South America, and the Middle East and Africa
Performing market contribution	APAC at 36%
Key countries	US, Canada, China, Japan, and Germany
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	3B the fiberglass Co., AGY Holding Corp., ATKINS and PEARCE Inc., China Jushi Co. Ltd., Compagnie de Saint Gobain, Hexcel Corp., Huntsman International LLC, Johns Manville, JPS Composite Materials, Montex Glass Fibre Industries Pvt. Ltd., Nan Ya Plastic Corp., Nitto Boseki Co. Ltd., Park Aerospace Corp., Phelps Industrial Products LLC, Piran Advanced Composites, Porcher Industries, SAERTEX GmbH and Co.KG, Sinoma Science and Technology Co. Ltd., Taiwan Glass Ind. Corp., and Tencom Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market forecast during the forecast period
• Detailed information on factors that will drive the growth of the market  between 2024 and 2028
• Precise estimation of the market  size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across APAC, North America, Europe, South America, and the Middle East and Africa
• Thorough market analysis and report of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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