NEW YORK, May 27, 2024 /PRNewswire/ — The global fiberglass market for aerospace industry size is estimated to grow by USD 1.01 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 7.15% during the forecast period.
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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Segment Covered |
Application (Structural parts, Flooring, Closets, Seating, and Others), Type (Thermoset resins and Thermoplastic resins), and Geography (APAC, North America, Europe, South America, and Middle East and Africa) |
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Region Covered |
APAC, North America, Europe, South America, and Middle East and Africa |
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Key companies profiled |
3B the fiberglass Co., AGY Holding Corp., ATKINS and PEARCE Inc., China Jushi Co. Ltd., Compagnie de Saint Gobain, Hexcel Corp., Huntsman International LLC, Johns Manville, JPS Composite Materials, Montex Glass Fibre Industries Pvt. Ltd., Nan Ya Plastic Corp., Nitto Boseki Co. Ltd., Park Aerospace Corp., Phelps Industrial Products LLC, Piran Advanced Composites, Porcher Industries, SAERTEX GmbH and Co.KG, Sinoma Science and Technology Co. Ltd., Taiwan Glass Ind. Corp., and Tencom Ltd. |
Key Market Trends Fueling Growth
The fiberglass market in the aerospace industry has witnessed significant growth due to the increasing demand for lightweight, high-strength, and durable materials for aircraft construction. Factors such as fuel burn reduction, efficiency of operations, and maintenance cost savings have driven this trend.
Advanced fiberglass technologies, including smooth surfaces, aluminum laminates, wingtip fences, and sharklet blended-winglets, are used to enhance aircraft performance and reduce wind resistance. Additionally, fiberglass is utilized in the production of insulation panels, roofing materials, and transportation components, such as marine vessels and automobiles. The availability of raw materials, including resins and low-cost labor, further supports the growth of the fiberglass market in the aerospace sector.
Market Challenges
- The aerospace industry utilizes fiberglass, a lightweight composite material made of glass fibers and a polymer resin matrix, for aircraft manufacturing due to its corrosion resistance and weight reduction benefits. However, health concerns arise from fiberglass’s small size and potential entry into the body.
- Short-term exposure can cause skin, nose, and throat irritation, while long-term inhalation may lead to asthma, bronchitis, lung infections, and cancer. Symptoms include respiratory and digestive tract irritation. Fiberglass’s components, such as silica, silicates, calcium, magnesium, boron oxides, and carbon fiber, are also used in the aerospace sector for enhanced safety and durable surfaces.
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Segment Overview
- Application
- 1.1 Structural parts
- 1.2 Flooring
- 1.3 Closets
- 1.4 Seating
- 1.5 Others
- 2.1 Thermoset resins
- 2.2 Thermoplastic resins
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and Africa
1.1 Structural parts- The Fiberglass market in the Aerospace Industry undergoes segmentation by application, with inorganic strategies focusing on the utilization of fiberglass in structural components, such as fuselage, wings, and landing gear. Organic strategies prioritize the use of fiberglass in interior components, including flooring, closets, and insulation. The preference for lightweight materials in the aerospace sector drives the demand for fiberglass, a thermoset polymer reinforced with glass fibers.
Eco-friendly materials and recyclable alternatives, like bio-based resins, are gaining traction in the industry. Raw material costs and sustainability are essential economic landscapes, while quality control and corrosion resistance are crucial environmental landscapes. Innovation and technology, including the development of new composite materials like silica, silicate, calcium, magnesium, and boron oxides, and carbon fiber, are key factors in market growth. Fiberglass’s use extends beyond aerospace, with applications in wind turbine blades, automotive lightweighting, infrastructure sectors, and energy efficiency.
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Research Analysis
The fiberglass market in the aerospace industry holds significant potential due to the material’s lightweight properties and eco-friendly nature. Fiberglass, a composite material made from glass fibers and a polymer matrix, is increasingly being used in aircraft manufacturing for its strength and durability. In the aerospace sector, fiberglass is utilized in various applications, including aircraft panels and structural components. The use of fiberglass in aerospace applications offers several advantages. Its lightweight nature reduces the overall weight of the aircraft, leading to fuel savings and increased efficiency.
Additionally, fiberglass’s eco-friendliness is a significant factor in the industry’s shift towards sustainable materials. Fiberglass’s raw material costs are relatively low compared to other materials, making it an attractive alternative for aerospace manufacturers. Furthermore, fiberglass’s maintenance costs are lower than traditional materials, and its safety record is excellent. The fiberglass market for aerospace applications extends beyond aircraft manufacturing. It is also used in the wind energy sector, marine industry, and transportation sectors. Overall, the fiberglass market in the aerospace industry is poised for growth due to its numerous benefits and cost-effectiveness.
Market Research Overview
The fiberglass market holds significant importance in the aerospace industry due to its lightweight and strong properties. Fiberglass materials are extensively used in the production of aircraft components such as wings, fuselages, and control surfaces. The use of fiberglass in aerospace applications offers several advantages, including high strength-to-weight ratio, resistance to corrosion, and excellent insulation properties.
Furthermore, fiberglass is also known for its durability and ability to withstand extreme temperatures. In the aerospace sector, fiberglass is utilized in both commercial and military aircraft, contributing to the overall efficiency and performance of these aircraft. The demand for fiberglass in the aerospace industry is expected to grow in the coming years due to the increasing production of new aircraft and the need for lightweight and fuel-efficient components.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
- Structural Parts
- Flooring
- Closets
- Seating
- Others
- Type
- Thermoset Resins
- Thermoplastic Resins
- Geography
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
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Website: www.technavio.com/
SOURCE Technavio
