Enjoy complimentary customisation on priority with our Enterprise License!
The fiberglass mold market is projected to grow by USD 203.86 million with a CAGR of 8.7% during the forecast period 2021 to 2026.
This market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the market segmentations by resin type (epoxy, vinyl ester, polyester, and others), end-user (wind energy, marine, aerospace and defense, automotive and transportation, and others), and geography (APAC, Europe, North America, the Middle East and Africa, and South America). The market report also offers information on several market vendors, including All Plastics and Fiberglass Inc, China Jushi Co. Ltd., CMDT Manufacturing, Custom Fibreglassing, Dencam Composite, Gurit Holding AG, Holland Fiberglass & Restoration LLC, Indutch Composites Technology Pvt. Ltd., Janicki Industries Inc., Johns Manville, Molded Fiber Glass Co., Nippon Electric Glass Co. Ltd., Norco Composites & GRP, Owens Corning, PFG FIBER GLASS CORP, REV GROUP INC., Saint-Gobain, Schutz GmbH & Co. KGaA, Taishan Fiberglass Inc., and TPI Composites Inc. among others.
Get the Fiberglass Mold Market Size Forecast by Downloading the Report Sample
The increasing demand for wind energy is notably driving the market growth, although factors such as the health hazards associated with glass fibers may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the fiberglass mold industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Fiberglass Mold Market Driver
The increasing demand for wind energy is one of the key drivers fueling market growth. Developed and developing countries are focusing on reducing the dependency on fossil fuels for energy production. These countries are using wind power generation technology by building many offshore and onshore wind farms that have wind turbines with longer blades. Glass fibers are increasingly used for manufacturing wind turbines as they are lightweight and chemical and corrosion-resistant. Glass fibers offer high-performance and are the best suited for a flexible blade design, as they offer significantly better performance than traditional E-glass while contributing to reducing the cost of wind energy. These innovations in wind energy along with the high use of fiberglass will lead to a growing demand for fiberglass mold, which will continue to rise during the forecast period.
Key Fiberglass Mold Market Trend
The rise in demand for green buildings is one of the key market trends propelling market growth. Green building is a technique that is used for designing sustainable building structures by employing ecologically responsible and resource-efficient processes, such as site selection. Green building materials use less water and are easier to maintain than other products, and they improve a building's sustainability and efficiency because they involve fewer carbon emissions. The main types of green building materials used include those for structural, exterior, and interior applications, and their usage is increasingly being adopted across multiple sectors, including in the construction of residential and non-residential buildings. Thus, the introduction of environment-friendly products is gaining significant traction in the green building materials market.
Key Fiberglass Mold Market Challenge
Health hazards associated with glass fibers are one of the factors limiting market growth. The use of glass fiber mold in various end-user applications, such as buildings and construction, automotive, and consumer goods, poses numerous health risks. Glass fibers easily enter the body because of their small size and cause certain diseases. Workers involved in the insulation process in building maintenance are more vulnerable to health hazards caused by fiberglass. Short-term exposure, such as direct contact with fiberglass or inhaling fiberglass particles, can cause irritation to the skin, nose, and throat. Thus, the increasing health hazards due to short- or long-term exposure to fiberglass mold making will create a challenge to the market during the forecast period.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global fiberglass mold market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the fiberglass mold market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
Get a glance at the market share of various regions by Requesting a PDF Sample now!
49% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for fiberglass molds in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The booming wind energy and automotive and transportation industries will facilitate the market's growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
In the year 2020, the regional market witnessed certain challenges due to the COVID-19 pandemic. However, the recovery of economies in the second half of 2021 from the COVID-19 crisis helped in the growth of the regional market during the forecast period.
To gain insights on the market contribution of various segments Request a PDF Sample
The market share growth in the epoxy segment will be significant during the forecast period. Epoxy helps smooth the surface. It is brushed onto the surface that needs to be covered, and the resin will get into the right places and wick right into the fibers. Due to the benefits offered by epoxy fiberglass, the market will witness growth in the segment, and it will continue to grow during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.
Fiberglass Mold Market Scope |
|
Report Coverage |
Details |
Page number |
146 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 8.7% |
Market growth 2022-2026 |
$203.86 million |
Market structure |
Fragmented |
YoY growth (%) |
10.35 |
Regional analysis |
APAC, Europe, North America, the Middle East and Africa, and South America |
Performing market contribution |
APAC at 49% |
Key consumer countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
All Plastics and Fiberglass Inc, China Jushi Co. Ltd., CMDT Manufacturing, Custom Fibreglassing, Dencam Composite, Gurit Holding AG, Holland Fiberglass & Restoration LLC, Indutch Composites Technology Pvt. Ltd., Janicki Industries Inc., Johns Manville, Molded Fiber Glass Co., Nippon Electric Glass Co. Ltd., Norco Composites & GRP, Owens Corning, PFG FIBER GLASS CORP, REV GROUP INC., Saint-Gobain, Schutz GmbH & Co. KGaA, Taishan Fiberglass Inc., and TPI Composites Inc. |
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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Resin Type
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.