Global Fiberglass Building Products Market 2017-2021

Overview of the global fiberglass building products market

Market research analysts at Technavio predict that the global fiberglass building products market will grow steadily over the next four years and post a CAGR of around 6% by 2021. This market research analysis identifies urbanization and increased investments in infrastructure development as the key factor in the fiberglass building products market. Factors such as population growth, rising disposable income of individuals, and urbanization are, in turn, enhancing the need for infrastructure. Owing to the qualities associated with the product such as flexibility, corrosion resistance, durability, easy installation, and weatherproofing, the fiberglass building products are mainly used in the construction industry. Fiberglass building products are leveraged in the construction of roofs, windows, and doors as it is cost-effective and are steadily replacing metals, woods, and concrete. The increase in the demand for fiberglass products will significantly contribute to the growth of the market over the next four years.

2016 witnessed an investment of about USD 490 billion towards the airport construction projects that included a number of new airport developments. Additionally, countries such as France and India are significantly focusing on the modernization of the existing airports. With a number of additional properties including lightweight, corrosion-resistance, and superior strength that reduces the load on buildings, fiberglass products will be greatly preferred for these airport development projects. Additionally, the anti-rust characteristics and benefits like less installation time will also make fiberglass products the ideal choice for such construction projects, which will in turn, significantly drive their adoption in the next few years.

Competitive landscape and key vendors