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Fiberglass Insulation Market Analysis | 2023-2028
Fiberglass Insulation Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028
The Fiberglass Insulation Market is projected to grow at a healthy CAGR of 3.5% over the forecast period of 2023-2028, reaching a value of US$ 16.7 billion by 2028. Fiberglass insulation currently holds less than 25% of the overall insulation market and it is likely to experience healthy growth during the forecast period.
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Fiberglass is an insulation material made up of extremely fine glass fibers and is produced by melting glass and then spinning it into fine threads. This insulation material traps air and slows heat transfer. It is generally utilized in various forms of insulation such as blankets (batts and rolls), and loose-fill, and is available as rigid boards and duct insulation. The effectiveness of fiberglass insulation is measured by its R-value, which represents its ability to resist heat flow. A higher R-value indicates better insulating properties. The R-value of fiberglass insulation can vary depending on its thickness and density.
The Covid-19 pandemic has had the very least impact on the fiberglass insulation market, and the market witnessed a decline of less than 2%, in 2020. The market rebounded in 2021, followed by healthy growth in 2022.
Rising global awareness about energy conservation, increasing demand for higher thermal efficiency, durability, strength, lightweight, and environmentally friendly insulation products, an increase in construction activities, growing infrastructure spending, and rising industrial projects are key factors expected to fuel the growth of the market in the coming years.
In April 2023, Saint-Gobain acquired Twiga Fiberglass Ltd., one of the leading glass fiber insulation manufacturers in India (Uttar Pradesh) for an enterprise value of US$ 51 million (Approx.)
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Segmentations |
List of Sub-Segments |
Dominant and Fastest-Growing Segments |
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Insulation-Type Analysis |
Batts and Rolls, Blowing Wool, Slabs, and Others |
Batts and rolls are anticipated to remain the dominant, whereas blowing wool is likely to experience the fastest growth. |
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Application-Type Analysis |
Thermal and Acoustic |
Thermal is expected to remain the dominant application, whereas acoustic is likely to experience faster growth. |
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End-Use Type Analysis |
Residential, Commercial, and Industrial |
Residential is projected to remain the dominant as well as the fastest-growing end-use in the market. |
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Regional Analysis |
North America, Europe, Asia-Pacific, and The Rest of the World |
Europe is expected to remain the dominant market over the next five years. Asia-Pacific is likely to grow at the fastest rate during the same period |
"Batts and rolls are expected to remain the largest insulation type in the market during the forecast period"
The fiberglass insulation market is segmented into batts and rolls, blowing wool, slabs, and others. Batts and rolls are expected to remain the largest insulation type in the market during the forecast period owing to their key advantages, such as good thermal performance, fire resistance, moisture resistance, and affordability. Batt and roll forms are effective only when installed correctly and play a significant role in improving the energy efficiency of your building. However, blowing wool is likely to experience the fastest growth during the forecast period due to its key properties, such as ease of installation, adaptability, higher R-value, energy efficiency, and improved building codes.
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"Thermal insulation is expected to remain the dominant application in the market during the forecast period"
The market is segmented into thermal and acoustic. Thermal insulation is expected to remain the dominant application in the market during the forecast period owing to the effectiveness of fiberglass insulation in providing thermal resistance and meeting the primary objectives of insulating materials. Fiberglass insulation has become the dominant choice for thermal insulation applications in both residential and commercial construction.
"Residential is expected to remain the dominant as well as the fastest-growing end-use type in the market during the forecast period"
The market is segmented into residential, commercial, and industrial. Residential is expected to remain the dominant as well as the fastest-growing end-use type in the market during the forecast period, driven by a high number of residential buildings, homeowners’ focus on energy efficiency, government regulations on residential energy efficiency, and awareness about fire resistance and safety.
"Europe holds the largest share of the fiberglass insulation market"
In terms of region, Europe holds the largest share of the fiberglass insulation market. Key driving factors include strict building codes and energy efficiency regulations, a strong focus on energy efficiency and sustainability, high awareness about the benefits of proper insulation, and growing construction activities.
Asia-Pacific is expected to remain the fastest-growing market for fiberglass insulation during the forecast period. China holds the major share of the region’s market. Rapid economic growth, urbanization, increased awareness of energy efficiency, an increase in investment in the construction industry, and growing infrastructure development are key factors driving fiberglass insulation’s demand in the region.
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The market is fairly populated, with the presence of some regional and global players. Most of the major players compete on some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the fiberglass insulation market:
Note: The above list does not necessarily include all the top players in the market.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The fiberglass insulation market is segmented into the following categories:
By Insulation Type
By Application Type
By End-Use Type
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]
The fiberglass insulation market is estimated to grow at a CAGR of 3.5% by 2028, driven by an increase in construction activities, growing infrastructure spending, rising industrial projects, and growing global awareness about energy conservation.
The fiberglass insulation market is likely to reach US$ 16.7 Billion in 2028.
Europe is estimated to remain dominant in the fiberglass insulation market in the foreseeable future. Germany, France, and The UK are key economies in the region that are gradually adopting stricter building codes, leading to an increase in the penetration of fiberglass insulation materials in the region.
Residential is expected to remain the dominant end-use type in the market during the forecast period owing to the high number of residential buildings, changing trends towards eco-friendly buildings, government regulations on residential energy efficiency, and awareness about fire resistance and safety.
Owens Corning, Saint-Gobain, China Jushi Co., Ltd., Knauf Insulation, Johns Manville, Fletcher Building, and CSR Limited are the leading players in the fiberglass insulation market.
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