19-Mar-2020 | Zion Market Research
The global fiberglass mold market is predicted to surpass USD 487 million by 2025 with at a CAGR of 8.7%, as per Zion Market Research. The market was valued at USD 312 million in 2019. The market is developing owing to the elevated requirement from construction & infrastructure, wind energy, aerospace & defense, automotive & transportation, and marine industries.
The global fiberglass mold market included key players such as Dencam Composites, Janicki Industries, Gurit Holding AG, SCHÜTZ GmbH & Co. KGaA, Norco Composites & GRP, Shandong Shaungyi Technology, TPI Composites, Molded Fiber Glass Companies, Indutch Composites Technology, and EUROS GmbH.
Wind Energy Projected To The Biggest End-Use Industry Of Global Market In The Forecast Period
Wind blade molds are produced with sandwich construction using composite substances, such as aramid fiber composites, carbon fiber composites, and glass fiber composites, which offer high bending weight-to-stiffness ratios and elevated tensile strength. The fiberglass molds are the most extensively employed molds for producing wind blades and wind composite. Fiberglass molds are useful in offering lightweight, dimensionally precise, and solid composite materials. In addition to this, the rising requirement for renewable sources of energy for creating electricity and dropping wind energy prices are expected to elevate the set up of wind turbines in the years to come. The elevated requirement for installation of wind turbine is projected to drive the requirement for global fiberglass mold market in the years to come.
Epoxy Resin To Add Up For A Lion’s Share In The Global Market In The Years To Come
Epoxy resin-based fiberglass mold is expected to be show potential in the global market in the long run. These fiberglass molds provide excellent mechanical properties and increased heat resistance. They have low shrinkage and enhanced mechanical, physical, and adhesion characteristics in comparison to other resins. These characteristics allow the epoxy resin-based molds to be used extensively in the different end-use sectors.
Asia Pacific Projected To Power The Fiberglass Mold Market In The Coming Years
Asia Pacific is a major region for the fiberglass mold market. The powering industries comprising construction & infrastructure, automotive & transportation, and wind energy are accountable for the development of the global market in the area. China is one of the well-known users of fiberglass mold in the area. The nation has turned out to be the single-biggest user of fiberglass mold in the wind energy sector and is projected to power its position more. Asia Pacific has an attendance of major fiberglass mold players.
Browse the full “Fiberglass Mold Market - By End-Use Industry (Marine, Wind Energy, Automotive & Transportation, Aerospace & Defense, and Construction & Infrastructure), By Resin Type (Vinyl Ester, Epoxy, and Polyester), and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/fiberglass-mold-market
The global fiberglass mold market is segmented as follows:
By resin type
By end-use industry
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