Market Size – USD 345.7 Million in 2020, Market Growth - CAGR of 7.80%, Market Trends – The rising applications of fiberglass mold in the industry vertical industries.
The global Fiberglass Mold Market is forecast to reach USD 631.8 Million by 2028, according to a new report by Reports and Data. The growing demand for renewable energy sources is one of the significant factors contributing to the growth of the market. Fiberglass is stronger and has a high resistance to corrosion. The materials are ideal for products used outside, in states near the ocean, with a high salt content in the air. Fire-retardant resins make products withstand fire. There are very few limitations with molding fiberglass, providing unlimited possibilities for manufacturers. This makes it possible to design visually appealing ones that are still as structurally strong and durable.
The Asia Pacific region held the largest market share of ~29% in the year 2018 and is anticipated to witness the highest CAGR of 9.4% during the forecast period. The rapid growth in the demand for fiberglass mold will contribute to the growth of the market in the region. The rising population, growing industrialization, and urbanization, coupled with the expanding chemicals & materials, construction, automotive, and other industries in the region will also escalate the growth of the market.
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Key companies profiled in the report:
- Dencam Composites,
- Gurit Holding AG,
- Janicki Industries,
- Norco Composites & GRP,
- SCHÜTZ GmbH & Co. KGaA,
- TPI Composites,
- Shandong Shaungyi Technology,
- Indutch Composites Technology,
- EUROS GmbH,
- and Molded Fiber Glass Companies,
- among others.
Further key findings from the report suggest
- Among the product types, the epoxy resins accounted for the largest market share of ~36% in the year 2018. The main characteristics of epoxy resin after curing are voltage resistance, water absorption, strength, heat & temperature resistance, chemical resistance, elongation, shrinkage coefficient, thermal conductivity, induced rate, and others.
- The vinyl ester is forecasted to witness the highest CAGR of 9.5% during the forecast period. Vinyl esters are more tolerant of stretching than polyesters. This makes them able to absorb impact, reducing the damage caused, and are less likely to show stress cracking. Vinyl esters shrink less on curing, which means that the 'pre-release' of a laminate from a mold is less significant.
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Regions covered in the report:
- North America (U.S.A., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Global Fiberglass Mold Market Product Segmentation:
- Polyester
- Vinyl Ester
- Epoxy
- Others
Global Fiberglass Mold Market Composite Phases:
- Matrix
- Dispersed Phase
- Interface
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