Global fiberglass mold market is predicted to surpass USD 487 million by 2025 with at a CAGR of 8.7%.
The global fiberglass mold market value was estimated at 312 (USD Million) in 2019 and is projected to hit 487 (USD Million) by 2025 growing at a CAGR of 8.7% during the period from 2019 to 2025. The report offers valuation and analysis of the fiberglass mold market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on value (USD Million).
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.
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.
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, and EUROS GmbH.
The global fiberglass mold market is segmented as follows:
By resin type
By end-use industry