Fiberglass Mold Market Size To Hit US$520 Million By 2027 | Exhibit A CAGR Of 7.6% (2022-2027)

2022-10-20 07:46:43

(MENAFN- EIN Presswire)

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Growing demand of usage of fiberglass mold in the interior and exterior parts of the automotive driving the global fiberglass mold market.

HYDERABAD, TELANGANA, INDIA, October 20, 2022 / / -- IndustryARC, in its latest report, predicts that the size is expected to reach US$520 million by 2027 after growing at a CAGR of 7.6% during the forecast period 2022-2027. The prime factor that is likely to drive the market is the increasing demand for fiberglass molds in various end-use industries, such as wind energy, construction & infrastructure, automotive & transportation, aerospace & defense, and marine. Fiberglass mold being a less expensive technology uses 3D printing for providing good growth opportunities to the fiberglass mold manufacturers during the forecast period. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key Takeaways:

This IndustryARC report on the fiberglass mold market highlights the following areas -

The global fiberglass mold market size will increase due to high demand for applications in home building materials, electronic components, storage tanks, boat building, pipes, platforms, and others.

The Asia Pacific region holds a dominant market share in the fiberglass mold industry due to the high demand generating from automotive industry which uses fiberglass molds in the interior and exterior parts of the car. Thus, boosting the demand for global fiberglass mold in this region.

The demand for fiberglass mold is increasing due to its application in, wind energy, marine, aerospace & defence and others, and it is expected to grow in the coming years.

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Segmental Analysis:

Fiberglass Mold Market Segment Analysis- By Type: Epoxy resin held the largest share of over 35% in the fiberglass mold market in 2021. Epoxy resin refers to a type of reactive prepolymer and polymer containing epoxide groups. As a result, the polymers become elastic and tough. This makes them ideal for various applications. The main characteristics of epoxy resin are of voltage resistance, water absorption, strength, heat & temperature resistance, chemical resistance, elongation, shrinkage coefficient, thermal conductivity, induced rate, and others. Epoxy resins are projected to be the fastest-growing type segment of the fiberglass mold market during the forecast period.

Fiberglass Mold Market Segment Analysis- By End-User Industry: Aerospace & defence held the largest share of over 22% in the fiberglass mold market in 2021. The aerospace & defence sector is expected to witness strong growth in the market, owing to increase in investment from government in this sector. One of the major concerns for any product used in aircraft is the ability to withstand the necessary stress.

Fiberglass Mold Segment Analysis – By Geography: Asia Pacific dominated the fiberglass mold market in 2021 with a market share of around 34%, followed by Europe and North America. In terms of consumption, Asia Pacific is the leading region in the global fiberglass mold market. Asia-Pacific is estimated to govern the market during the forecast period driven by the high growth of various end-use industries.

Competitive Landscape:
The top 5 players in the fiberglass mold industry are -
1. Dencam Composite A/S
2. SSP Technology
3. Gurit Holding AG
4. Indutch Composites Technology Private Limited
5. Janicki Industries Inc.

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A. Fiberglass Pipes Market

B. Fiberglass Flooring Market

Venkat Reddy
IndustryARC

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