Global fiberglass insulation
market is segmented on the basis of application and geography. Fiberglass (or
fibreglass) comes across as a kind of fiber reinforced plastic where the
reinforcement fiber, to be specific, is glass fiber. The glass fiber could be
randomly arranged, woven into a fabric, or compressed into a sheet (called a
chopped strand mat). The plastic matrix could be a thermosetting plastic that
is most often polyester resin, epoxy, vinylester, or a thermoplastic.
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Fiberglass finds applications
in composites, storage tanks, insulations, piping, house building, and filament
winding. The major drivers of the fiberglass insulation market are impressive
growth in construction activity, increasing demand for higher thermal
efficiency, lightweight, strength, durability, and eco-friendly insulation
products. The increasing awareness of energy saving is also driving the demand
of fiberglass insulation market.
Gains in the fiberglass
insulation market will largely stem from a rebound in the construction sector
and the mounting use of glass fiber in insulation. Headwinds that will slow
down the market’s growth include the invasion of low-cost fiberglass and a
slowdown in growth in maturing markets. Fiberglass, a material produced by
using ultrathin strands of glass to reinforce the plastic matrix is desired in
several applications because of the strength and lightness it lends. The
commercial production of fiberglass has taken off worldwide also because the
required raw materials are both economical and abundantly available. The preference
for fiberglass over carbon fiber has also given the market for former a lift.
The pressing need for
lightweight automobiles and aircraft will act as a primary growth driver for
the fiberglass insulation market. The trend of replacing heavier metal
components with lighter weight fiberglass parts has created a window of
opportunity for the fiberglass market in emerging countries and stirring up
some fresh demand in otherwise stagnant mature markets.
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