India Fiberglass Market By Type (Glass Wool, Direct & Assembled Roving, Yarn, Chopped Strand & Others), By Resin (Thermoset Resins & Thermoplastic Resins), By Application (Construction & Infrastructure, Automotive & Others), Competition, Forecast & Opportunities, 2024
India fiberglass market was valued at $ 779 million in 2018 and is projected to grow at a CAGR of more than 8% to reach $ 1.2 billion by 2024. Anticipated growth in the market can be attributed to extensive use of fiberglass in construction industry. Fiberglass refers to a strong, lightweight material that consists of thin fibers of glass that can be transformed into a woven layer or used as reinforcement. Fiberglass is less strong and stiffer than carbon fiber-based composites, but less brittle and cheaper. Increasing use of fiberglass for the manufacturing of automobile and aircraft body parts, owing to its high strength and lightweight properties is anticipated to drive the market growth. Though the fiberglass market in India is witnessing a healthy growth landscape, health related issues and unstable prices of raw materials are likely to hinder the market growth.
In terms of type, India fiberglass market has been categorized into glass wool, direct & assembled roving, yarn, chopped strand and others. Of these categories, glass wool and chopped strand segments are expected to grow at a healthy rate during the forecast period, backed by growing automobile production in the country. Chopped strands are used to provide reinforcements in the automotive industry.
India fiberglass market is oligopolistic in nature with the presence of both global and local players. A large number of players have embraced new technologies for manufacturing the products as per client prerequisites. The players are investing heavily in the R&D to introduce innovative products in the market. Some of the leading players in India fiberglass market are,Saint-Gobain India Private Limited, Goa Glass Fibre Limited, U.P. Twiga Fiber Glass Ltd., Owens Corning, among others.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study:
- To analyze and forecast India fiberglass market size.
- To forecast India fiberglass market based on type, resin, application and regional distribution.
- To identify drivers and challenges for India fiberglass market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India fiberglass market.
- To conduct the pricing analysis for India fiberglass market.
- To identify and analyze the profile of leading players operating in India fiberglass market.
Some of the leading players in India fiberglass market are Saint-Gobain India Private Limited, Goa Glass Fibre Limited, Jushi India Pvt. Ltd., U.P. Twiga Fiber Glass Ltd., Owens Corning, JR Fibreglass Industries Pvt. Ltd., Montex Glass Fibre Industries Private Limited, Ventura Fibre, Glassfibre & Allied Industries, etc.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across the globe.
TechSci Research calculated India fiberglass market size using a top down approach, where data for various applications across various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Fiberglass manufacturers
- Fiberglass distributors and providers
- Organizations, forums and alliances related to fiberglass
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers, partners and end users. The study would also help them in identifying which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth of the market.
In this report, India fiberglass market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, by Type
- Glass Wool
- Direct & Assembled Roving
- Chopped Strand
- Market, by Resin
- Thermoset Resins
- Thermoplastic Resins
- Market, by Application
- Construction & Infrastructure
- Wind Energy
- Aerospace & Defense
- Market, by Region
Company Profiles: Detailed analysis of the major companies operating in India fiberglass market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
- Profit margin analysis in case of direct and indirect sales channel.
Printing is not available on single-user licenses.