Global fiberglass mold market is projected to grow from $ 310 million in 2018 to $ 470 million by 2024, exhibiting growth at a CAGR of 8.8%. Growth in the market can be attributed to high demand from various industries which include construction & infrastructure, automotive & transportation, wind energy, aerospace & defense, marine among others.
Notably, fiberglass mold market has been segmented as resin type, end-use industry and region. Based on resin type, the market is categorized as vinyl ester, epoxy, polyester, and others. Epoxy-resin-based fiberglass mold is expected to be a promising market during the forecast period. The epoxy-resin-based fiberglass molds offer high heat resistance and excellent mechanical properties. They have better physical, mechanical, and adhesion properties and low shrinkage compared to other resins. Owing to these properties epoxy-resin-based molds are widely used in various end-use industries.
Based on end-use industry, the market has been segmented as marine, aerospace & defense, wind energy, automotive & transportation, construction & infrastructure and others. Notably, fiberglass molds are the most extensively used molds for manufacturing wind blades. These molds are useful in providing lightweight, dimensionally accurate and strong composite materials. This factor is fueling the demand for fiberglass mold in wind energy end-use industry. Furthermore, growing demand for renewable energy sources for generating electricity and declining costs of wind energy are anticipated to lead to a surge in the installation of wind turbines during forecast period.
Regionally, fiberglass mold market has been segmented as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Among these regions, Asia-Pacific is a major fiberglass mold market. Booming industries including automotive & transportation and wind energy are responsible for the growth of fiberglass mold market in the region. Furthermore, China is one of the significant consumers of fiberglass mold in the region, as it has become the single-largest consumer of fiberglass mold in the wind energy industry which is anticipated to further strengthen its position.
Some of the key players operating in global fiberglass mold market include, Gurit Holding AG, Dencam Composites, Norco Composites & GRP, Janicki Industries, TPI Composites, SCHÃœTZ GmbH & Co. KGaA, Indutch Composites Technology, Shandong Shaungyi Technology, EUROS GmbH, Molded Fiber Glass Companies, among others.
Years considered for this report
Historical Years2014-2017
Base Year2018
Estimated Year2019
Forecast Period2020-2024
Objective of the Study
- To analyze
and forecast global fiberglass mold market size.
- To forecast global fiberglass
mold market based on resin type, end-use industry and regional
distribution.
- To
identify drivers and challenges for global fiberglass mold market.
- To
examine competitive developments such as expansions, new product launches,
mergers & acquisitions, etc., in global fiberglass mold market.
- To conduct
pricing analysis for fiberglass mold market.
- To
identify and analyze the profile of leading players involved in the
manufacturing of fiberglass mold.
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Some of the leading players in global fiberglass mold market are Gurit Holding AG, Dencam Composites, Norco Composites & GRP, Janicki Industries, TPI Composites, SCHÃœTZ GmbH & Co. KGaA, Indutch Composites Technology, Shandong Shaungyi Technology, EUROS GmbH, Molded Fiber Glass Companies, among others.
Market Insights Research performed both primary as well as exhaustive secondary research for this study. Initially, Market Insights Research sourced a list of leading manufacturers across the globe. Subsequently, Market Insights Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market Insights Research could include the manufacturers which could not be identified due to the limitations of secondary research. Market Insights Research analyzed the product offerings, distribution channels and presence of all major players operating in global
Market Insights Research calculated global
Key Target Audience
- Fiberglass mold manufacturers and suppliers
- Government and other regulatory bodies
- Research institutes and organizations
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
