According to the Market Statsville Group (MSG), the global dry chopped glass fiber market size is expected to grow from USD 1,514.18 million in 2022 to USD 2,995.95 million by 2033, growing at a CAGR of 6.4% from 2023 to 2033. An increase in the demand for high-performance materials with properties, such as high strength-to-weight ratio, good tensile strength, and electrical conductivity, the global dry-used chopped strand glass fiber market. In the other hand, the availability of replacements is the key constraint hindering the glass fiber market expansion. The availability of replacements such as carbon create salt fiber, and natural fiber create difficulties for the worldwide glass fiber industry. Moreover, the growing amount of wind energy capacity projects is a growth opportunities potential for the fiberglass industry.

Definition of the Global Dry Chopped Glass Fiber Market

Glass fibers are one of the most versatile industrial materials, consisting of several incredibly thin glass strands. Thin strands of silica-based or other glass are extruded into fibers, which can then be treated further depending on the application. Glass fibers have desired bulk features such as hardness, transparency, chemical resistance, stability, and inertness, as well as desirable fiber attributes such as strength, flexibility, and stiffness. Glass fiber can be used for reinforcing and insulation. These characteristics, together with its cheap cost, make it an important reinforcing material in the plastics industry. Glass fibers are utilized as polymer reinforcement in a variety of industries, including aerospace, automotive, marine, athletic and leisure products, and construction and civil engineering.

Chopped Strands are formed by chopping strand bundles comprised of 50 to 200 fine ARG fiber filaments into different lengths. It is utilized as reinforcement in products such as Glass fiber Reinforced Concrete (GRC), Calcium Silicate, and Slag Gypsum. It is also used to fill cracks in conventional concrete and cement mortar. Glass fiber sheets and filters can benefit from its strong alkali and acid resistance.

COVID-19 Impact on the Global Dry Chopped Glass Fiber Market

The outbreak of COVID-19 in the key glass fiber composite manufacturing countries across the world has slowed demand for glass fiber-based composites. Glass fiber composites production has been halted or slowed in order to maintain social distance between floor workers, engineers, and other employees.

The COVID-19 epidemic has had a significant influence on the global fiberglass business. Lockdowns have been imposed in several countries throughout the world, affecting most businesses and forcing individuals to stay in their homes, reducing personal connection. Most industry players have allowed employees to work from home to maintain business continuity during the COVID-19 pandemic, which is expected to stymie the global fiberglass market's growth throughout the forecast period. The rigorous limits imposed on manufacturing operations in order to comply with social distancing standards are projected to stifle the automotive and electronics industry's growth, limiting the growth of the market.

Due to the global COVID-19 problem, manufacturing and supply activities in the dry-used chopped strand glass fiber sector have been interrupted. Over the forecast period, a movement in consumer preference toward vital products is projected to have an impact on the worldwide fiberglass floorings market. Furthermore, the COVID-19 epidemic has resulted in the closure of international borders, resulting in a significant drop in worldwide demand for fiberglass and related materials. Travel restrictions have been imposed by governments all around the world. As a result, the fiberglass industry is likely to be impacted by the decrease in fiberglass installation in various applications. Furthermore, the worldwide fiberglass market is expected to be hampered by limitations on public gatherings and travel prohibitions in a number of countries over the forecast period.

Global Dry Chopped Glass Fiber Market Dynamics

Drivers: Growing demand for high-performance materials

An increase in the demand for high-performance materials with properties, such as high strength-to-weight ratio, good tensile strength, and electrical conductivity, the global dry-used chopped strand glass fiber market. For instance: Fiberglass storage tanks with capacities of up to 300 tonnes are manufactured. Chopped strand mat cast over a thermoplastic inner tank that acts as a preform during production can be used to make smaller tanks. Tanks with woven mat or filament wound fiber, with the fiber orientation at right angles to the hoop stress imposed in the sidewall by the contents, are far more reliable. Because the plastic liner (typically polypropylene) is resistant to a wide range of corrosive substances, these tanks are commonly used for chemical storage.

Furthermore, most chopped glass fiber thermoplastics have a higher strength-to-weight ratio than steel and aluminium. The car industry must adhere to strict fuel efficiency and weight reduction rules without jeopardizing safety, performance, or processing efficiency. Glass fiber thermoplastics provide material solutions for structural and semi-structural elements, meet these requirements. They aid in the achievement of objectives such as weight loss, structural performance, and maximal energy absorption. Low processing cycle durations of such fiber enable the creation of cost-effective parts and reliable mass production procedures, increasing their demand in the automobile industry.

Restraints: Issues related to glass wool recycling and adverse effects of glass fiber

Glass wool insulation consists of glass fibers and phenolic resin as a binder to be a texture similar to wool, resulting in high thermal insulation properties. A large amount of them was used for energy conservation of buildings and recently disposed at landfill sites to be pressured because of large volume to mass. The recycling of glass wool is a key impediment to the growth of the fiberglass market. Glass wool material, as well as the mask and protective clothes worn by individuals involved in the disposal procedure, must be disposed of using proper disposal processes. Furthermore, as public awareness of waste management regulations and environmental legislation grows, engineering materials from items such as vehicles, wind turbines, and aircraft that have outlived their useful lives must now be properly recovered and recycled.

Furthermore, using glass fiber for manufacturing and building has resulted in a variety of health issues, including skin rashes, irritation in the eyes and stomach, and pain in the throat and lungs. As small glass fibers can reach the lower sections of internal organs, including the stomach, lungs, and skin, manufacturers and constructors continue to be concerned about the danger of unwanted health impacts. The global fiberglass (glass fiber) market is expected to suffer difficulties over the forecast period due to the aforementioned negative consequences of glass fiber.

Opportunities: Increase in the demand for fuel-efficient and light-weight vehicles

Despite the fact that automobiles have been around for over a century, the materials used in their construction have mostly remained the same. Advanced materials, ranging from magnesium alloys to glass fiber composites, have only recently found their way into new-generation automobiles. Advanced materials, such as glass fiber composites, are critical for improving the fuel efficiency, performance, and safety of modern automobiles. Lightweight materials have a lot of potential for improving vehicle efficiency because it requires less energy to accelerate a lighter item than a heavy one. A 10% reduction in vehicle weight can result in a 6-8% improvement in fuel economy.

Chopped glass fiber composites have become increasingly popular in recent years. When compared to steel, one of the reasons for fiberglass composite's relative success is that it has various advantages. It resists corrosion, has a high chemical resistance, and is lightweight (three times less dense than steel). Bumpers, hoods, and casings are all made of fiberglass composite. V-belts and timing belts are another application for this material, in which glass strings are impregnated with rubber to act as reinforcement. Another feature of the fiberglass composite is its resistance to abrasion, which is why it is used to make clutches and brake pads. 

Scope of the Global Dry Chopped Glass Fiber Market

The study categorizes the dry chopped glass fiber market based on type, resin, and industry area at the regional and global levels.

By Type Outlook (Sales, USD Million, 2019-2033)

• E Glass
• AR-Glass
• S-Glass
• A-Glass
• C-Glass

By Resin Outlook (Sales, USD Million, 2019-2033)

• Polyamide
• Polypropylene
• Phenolic
• Polyesters
• Polybutylene terephthalate (PBT)
• Polyethylene terephthalate (PET)
• Others

By Industry Outlook (Sales, USD Million, 2019-2033)

• Buildings and Construction
• Automotive
• Consumer Goods
• Food & Beverages
• Aerospace
• Others

By Region Outlook (Sales, USD Million, 2019-2033)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

E Glass segment accounts for the largest market share by type

Based on the type, the market is divided into e glass, ar-glass, s-glass, a-glass and c-glass. The e glass segment is expected to dominate the market share in 2022 in the global dry chopped glass fiber market. The e glass segment currently dominates the market share in the dry chopped glass fiber market. Electrical glass is another name for e-glass. E-glass is made from magnesium, silicon, calcium, aluminum, and boron oxides. E-glass products are extremely resistant to abrasion and vibration and have high flexibility. This lightweight woven plastic fabric is frequently utilized in maritime, industrial, and aerospace applications. E-glass fabric is the industry standard and provides an excellent cost-performance balance. Throughout the forecast period, the market is likely to be driven by the increasing adoption of environmentally friendly boron-free fiber.

Asia Pacific is expected to witness the largest market share by Region

Based on the regions, the global glass fiber market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. Asia Pacific is projected to account for the highest market share in 2022. Increasing building demand in emerging nations like India, Indonesia, and Thailand is expected to drive the market. The product's application in electrical and thermal insulation is expected to enhance the Region's market, along with growing industrialization and government investment in a building. Moreover, the increased emphasis on emission control legislation, as well as the growing demand for environmentally friendly products, have resulted in scientific developments in the field of composites. The replacement of conventional materials, such as steel and aluminum, with fiberglass is contributing to the growth of the fiberglass market in the Asia Pacific. Furthermore, increased demand for fiberglass from industries such as construction, transportation, automotive, and electronics is likely to fuel the Region's fiberglass market expansion.

Competitvie Landscape: Global Dry Chopped Glass Fiber Market

The dry chopped glass fiber market is a significant competitor, and extremely cutthroat in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.

Major key players in the global dry chopped glass fiber market are:

• JuShi
• Owens Cowning
• Saint Goban
• Binani
• Taiwan Glass
• CPIC
• Johns Manville
• Taishan Fiberglass Inc.(CTG)
• NEG
• LANXESS
• Company 11
• Company 12
• Company 13
• Company 14
• Company 15

Recent Development

• In January 2021, Johns Manville (JM), a Berkshire Hathaway company and a market-leading manufacturer of continuous filament glass fibers, announced the successful launch of a thermal recycling unit for waste glass fibers in its Engineered Products plant in Trnava, Slovakia.
• In August 2020, China Jushi Co. Ltd launched  E9 ultra-high modulus glass fiber. It was launched to support the development of large-scale and lightweight wind turbine blades. E9 glass fiber provides high performance technology platform which can provide customers with new solutions.
• In July 2020, Nippon Electric Glass in corporation with Nitto Denko Corporation has successfully developed ultra thin glasses with polarizing film with a roll-to-roll process having good productivity. The two companies engaged in the development of new material by combining NEG’s ultrathin glass and Nitto’s high performance polymer films.
• In March 2019, AGY Holding Corp announced production of a new lines of S-2 Glass rovings. This new line is designed to reinforce high-performance sheet molding compounds for specific resin compatibility, as well as the unique process requirements of commercial SMC production. Initially,  the sheet molding compounds rovings will be available with fiber sizing compatible with vinyl ester, unsaturated polyester, and epoxy resin systems, but later on the company will expand the product line.

Key Issues Addressed

• What is the market size by various segmentation of the dry chopped glass fiber by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the dry chopped glass fiber market?
• What are the key opportunities and trends for manufacturers involved in the dry chopped glass fiber supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of dry chopped glass fiber in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.