Fiberglass Mold Market Size, Share, Trends, Growth and Forecast 2032

Fiberglass Mold Market Insights

According to a report from Zion Market Research, the global Fiberglass Mold Market was valued at USD 425.94 Million in 2023 and is projected to hit USD 820.74 Million by 2032, with a compound annual growth rate (CAGR) of 7.56% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Fiberglass Mold industry over the next decade.

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Introduction

Fiberglass mold is produced through the process involving forming of fiberglass reinforced polymer composite materials such as resin plastics in varied sizes. In the fiberglass molding method, mold is utilized to produce the components of fiberglass.

Global Fiberglass Mold Market Overview:

Fiberglass molding is a process where fiberglass-reinforced resin plastics are formed into various shapes and sizes. The process comprises first making a mold and then using the mold to make the fiberglass component. Fiberglass mold lasts up to a year, if not opened and closed too frequently. After 18 months it becomes sticky to work well. The catalyst has a similar shelf life, and last for six months, sometimes lasting up to a year

Global Fiberglass Mold Market Dynamics:

The market growth is attributed to the increasing demand for fiberglass mold from wind energy, construction and infrastructure, automotive and transport, aerospace and defense, and marine industries. The market of fiberglass mold was valued at USD 312 million in the base year 2020 and the market size is estimated to grow at USD 459.92 million in the forecast year. According to National Center for Biotechnology Information (NCBI), fiber protected polymer provide high tensile strength, durability, flexural strength, and stiffness with rust-resistant are the properties responsible to drive the market and show favorable growth of the fiberglass mold market in the forecast period. Moreover, the rising demand for smart architecture, mobility, and smart energy solutions is a key driver for the fiberglass mold market. Fiberglass mold is also used in end-user industries like wind energy automotive and transportation, aerospace and defense, marine, and construction and infrastructure are the industries showing large scale utilization of fiberglass material. Additionally, the high manufacturing cost of fiberglass mold and short terms uses are the factors hampering the market growth of the fiberglass mold market.

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Market Growth Dynamics

According to NCBI, fiber reinforced polymer composite materials provide high strength to weight ratio along with unique features like durability, flexural strength, rust resistance, dampness, and stiffness. This, in turn, is anticipated to steer the growth of fiberglass mold industry over the forthcoming years.  Apparently, the product has elongated shelf life as compared to other kinds of molds.

Fiberglass Mold Market: Report Scope

Additionally, massive demand for fiberglass across marine, wind energy, and automotive sectors will prompt the market demand over the ensuing years. A spectrum of diverse features of the product has helped it find large-scale applications in construction, aerospace & aviation, and biomedical industries. In addition to this, fiber reinforced polymer (FRP) composites through distinct base material combinations and manufacturing methods impart improvement in the material features as compared to alloys and pure metals. This has enhanced the popularity of the FRP composites for plethora of applications, thereby steering the market trends.

Asia Pacific To Contribute Lucratively Towards Overall Market Share By 2025

The growth of the market in the region during the forecast period is owing to easy availability of raw materials in large quantities and government legislations supporting FRP composite material production in the countries like India and China. Additionally, thriving automotive & manufacturing sectors will steer the regional market surge over the forecasting years.

Key players profiled in the report include-

• Dencam Composites
• Indutch Composites Technology
• Janicki Industries
• Gurit Holding AG
• TPI Composites
• SCHÜTZ GmbH & Co. KGaA
• Norco Composites & GRP
• Molded Fiber Glass Companies
• Shandong Shaungyi Technology
• EUROS GmbH.

The global fiberglass mold market is segmented as follows:

By resin type

• Epoxy
• Vinyl Ester
• Polyester
• Others (BMI, phenolic, and benzoxazine)

By end-use industry

• Wind energy
• Marine
• Aerospace & Defense
• Automotive & Transportation
• Construction & Infrastructure
• Others (industrial, consumer goods, electrical component, and sporting goods)

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa