Fiberglass Insulation Market is Forecast to Reach US$ 16.7 Billion in 2028, Says Stratview Research

The Fiberglass Insulation Market is likely to grow at a significant CAGR of 3.5% during 2023-2028, to reach US$ 16.7 Billion in 2028, states Stratview Research.

DETROIT, Dec. 13, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the fiberglass insulation market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.

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Report Highlights

Segment Insights on the Fiberglass Insulation Market

The fiberglass insulation market is segmented based on insulation type, application type, end-user type, and region.

Based on insulation type - The fiberglass insulation market is segmented into batts and rolls, blowing wool, slabs, and others. Batts and rolls are expected to remain the largest insulation type in the market during the forecast period owing to their key advantages, such as good thermal performance, fire resistance, moisture resistance, and affordability. Batt and roll forms are effective only when installed correctly and play a significant role in improving the energy efficiency of your building. However, blowing wool is likely to experience the fastest growth during the forecast period due to its key properties, such as ease of installation, adaptability, higher R-value, energy efficiency, and improved building codes.

Based on application type - The market is segmented into thermal and acoustic. Thermal insulation is expected to remain the dominant application in the market during the forecast period owing to the effectiveness of fiberglass insulation in providing thermal resistance and meeting the primary objectives of insulating materials. Fiberglass insulation has become the dominant choice for thermal insulation applications in both residential and commercial construction.

Based on end-use type - The market is segmented into residential, commercial, and industrial. Residential is expected to remain the dominant as well as the fastest-growing end-use type in the market during the forecast period, driven by a high number of residential buildings, homeowners' focus on energy efficiency, government regulations on residential energy efficiency, and awareness about fire resistance and safety.

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Which Region Offers the Best Opportunity and Growth?

The report suggests that Europe holds the largest share of the fiberglass insulation market during the forecast period.

This growth is majorly attributed to the following –

-  Strict building codes and energy efficiency regulations.

-  A strong focus on energy efficiency and sustainability

-  High awareness about the benefits of proper insulation, and growing construction activities. 

Asia-Pacific is expected to remain the fastest-growing market for fiberglass insulation during the forecast period. China holds the major share of the region's market. Rapid economic growth, urbanization, increased awareness of energy efficiency, an increase in investment in the construction industry, and growing infrastructure development are key factors driving fiberglass insulation's demand in the region.

Fiberglass Insulation Market Drivers

Some of the key drivers listed in the report are given below.

-  Rising global awareness about energy conservation, increasing demand for higher thermal efficiency, durability, strength, lightweight, and environmentally friendly insulation products.

-  An increase in construction activities, growing infrastructure spending, and rising industrial projects.

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Top Companies in the Fiberglass Insulation Market?

The market is fairly populated, with the presence of some regional and global players. Most of the major players compete on some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the fiberglass insulation market:

• Owens Corning
• Saint-Gobain
• China Jushi Co., Ltd.
• Knauf Insulation
• Johns Manville
• Fletcher Building
• CSR Limited

What Deliverables Will You Get in this Report?

Related reports which might be useful:

• Insulation Market 
  
  
• Thermal Insulation Market

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