$450+ Mn Fiberglass Mold Market - Global Forecast to 2024: Opportunities in the Adoption of 3D Printing
DUBLIN, March 27, 2019 /PRNewswire/ -- The "Fiberglass Mold Market by Resin Type (Epoxy, Vinyl Ester, Polyester), End-Use Industry (Wind Energy, Marine, Aerospace & Defense, Automotive & Transportation, Construction & Infrastructure), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The fiberglass mold market size is estimated at USD 309 million in 2019 and is projected to reach USD 468 million by 2024, at a CAGR of 8.7% between 2019 and 2024.
Fiberglass molds are used in different industries such as wind energy, construction & infrastructure, automotive & transportation, aerospace & defense, and marine industries. They are helpful in providing dimensionally accurate, lightweight, and strong composite materials. The superior offerings provided by fiberglass molds are enabling its usage in the end-use industries. However, the high cost of raw materials is one of the main factors restraining the growth of the market.
The raw materials required are mainly fibers and resins that are comparatively expensive than traditional materials. Reducing the costs is not feasible, as maintaining the quality of products required for high-end applications is essential. In addition, the manufacturing process of composites is complex. Therefore, extensive R&D is also required at the micro level to achieve economies of scale.
"Epoxy resin-based fiberglass mold is projected to register the highest CAGR between 2019 and 2024 in terms of value and volume."
Epoxy resin-based fiberglass mold holds the largest share in the global market, due to increased demand from wind energy and automotive & transportation end-use industries. Epoxy resin offers better thermal properties, high strength, and durability. It has better physical, mechanical, and adhesion properties and low shrinkage compared to other resins. These properties enable the epoxy resin-based molds to be widely used in the various end-use industries.
"Wind energy is the most prominent end-use industry in the global fiberglass mold market."
Wind energy is projected to be the fastest-growing end-use industry, in terms of both value and volume, of fiberglass mold during the forecast period. Fiberglass mold is widely used in manufacturing wind blades. The increasing wind energy installations in APAC, Europe, and North America are bolstering the use of fiberglass molds in the wind energy industry. Fiberglass molds are helpful in providing dimensionally accurate, lightweight, and strong composite materials. Component fabricators around the world are constantly looking for molds that exhibit tighter tolerances and longer life. This factor drives the demand for fiberglass mold in the wind energy end-use industry.
"The fiberglass mold market in APAC is projected to register the highest CAGR, in terms of value and volume, between 2019 and 2024."
The fiberglass mold market in APAC is projected to register the highest CAGR, in terms of both value and volume, during the forecast period. This growth can be attributed to the increasing demand for fiberglass molds from wind energy, automotive & transportation, and construction & infrastructure industries. China is one of the prominent consumers of fiberglass molds in the region. The country has become the single-largest consumer of fiberglass molds in the wind energy industry and is expected to strengthen its position further.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Significant Growth Opportunities in the Fiberglass Mold Market
4.2 Fiberglass Mold Market, By Resin Type
4.3 Fiberglass Mold Market Share, By Region and End-Use Industry
4.4 Fiberglass Mold Market: Major Countries
4.5 Fiberglass Mold Market, By End-Use Industry
5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Lightweight and Precision Molds for Composite Components
5.1.2 Restraints
5.1.2.1 High R&D and High Cost Involved in the Manufacturing of Fiberglass Molds
5.1.3 Opportunities
5.1.3.1 Adoption of 3D Printing in Fiberglass Mold Manufacturing
5.1.4 Challenges
5.1.4.1 Need to Reduce Production Cycle Time and Increase the Lifecycle of Fiberglass Molds
5.2 Porter's Five Forces Analysis
6 Macroeconomic Overview and Key Trends
6.1 Introduction
6.2 Trends and Forecast of GDP
6.3 Trends in Automotive & Transportation Industry
6.4 Trends in Aerospace & Defense Industry
6.5 Trends in Wind Energy Industry
7 Fiberglass Mold Market, By Resin Type
7.1 Introduction
7.2 Epoxy
7.2.1 APAC Was the Largest Market for Epoxy Resin-Based Fiberglass Mold in 2018
7.3 Polyester Resin
7.3.1 Polyester Resin-Based Fiberglass Molds are Used Mainly in Railway and Heavy Truck Component Molding
7.4 Vinyl Ester Resin
7.4.1 Marine is the Largest End-Use Industry for Vinyl Ester-Based Fiberglass Mold Market
7.5 Others
8 Fiberglass Mold Market, By End-Use Industry
8.1 Introduction
8.2 Wind Energy
8.2.1 Wind Energy is One of the Prominent Consumers of Fiberglass Molds, Globally
8.3 Marine
8.3.1 North America is the Largest Consumer of Fiberglass Molds in the Marine End-Use Industry
8.4 Automotive & Transportation
8.4.1 Europe is the Largest Consumer of Fiberglass Molds in the Automotive & Transportation End-Use Industry
8.5 Aerospace & Defense
8.5.1 APAC is the Fastest-Growing Region for Fiberglass Mold Market in the Aerospace & Defense End-Use Industry
8.6 Construction & Infrastructure
8.6.1 North America is the Second-Largest Consumer of Fiberglass Molds in Construction & Infrastructure
8.7 Others
9 Fiberglass Mold Market, By Region
9.1 Introduction
9.2 North America
9.2.1 Canada
9.2.1.1 Wind Energy and Automotive & Transportation End-Use Industries are Expected to Drive the Fiberglass Mold Market in the Country
9.2.2 US
9.2.2.1 US is the Largest Market of Fiberglass Mold in North America
9.3 Europe
9.3.1 Germany
9.3.1.1 Germany is the Biggest Market for Fiberglass Mold in the European Region
9.3.2 UK
9.3.2.1 The UK is the Second-Largest Fiberglass Mold Market in the European Region
9.3.3 France
9.3.3.1 France is One of the Major Fiberglass Mold Markets in the European Region
9.3.4 Italy
9.3.4.1 Wind Energy and Automotive & Transportation are Major End-Use Industries in Italy for the Fiberglass Mold Market
9.3.5 Russia
9.3.5.1 Wind Energy End-Use Industry is Expected to Drive the Market of Fiberglass Mold in Russia
9.4 APAC
9.4.1 China
9.4.1.1 China is the Fastest-Growing Market of Fiberglass Mold, Globally
9.4.2 India
9.4.2.1 India is a Key Fiberglass Mold Market
9.4.3 Japan
9.4.3.1 Japan is An Established Market for Fiberglass Molds in APAC
9.4.4 South Korea
9.4.4.1 South Korea is the Fourth-Largest Market in APAC
9.5 MEA
9.5.1 Uae
9.5.1.1 Uae is the Second-Largest Market of Fiberglass Mold in MEA
9.5.2 South Africa
9.5.2.1 South Africa is the Largest Wind Energy Market in the Region
9.5.3 Saudi Arabia
9.5.3.1 Saudi Arabia is One of the Prominent Countries in the MEA Fiberglass Mold Market
9.6 Latin America
9.6.1 Brazil
9.6.1.1 Brazil is the Largest Market of Fiberglass Mold in Latin America
9.6.2 Mexico
9.6.2.1 Automotive & Transportation is One of the Major End-Use Industries in the Country
10 Competitive Landscape
10.1 Introduction
10.2 Competitive Leadership Mapping, 2018
10.3 Competitive Benchmarking
10.4 Ranking of Key Players, 2018
10.5 Competitive Scenario
11 Company Profiles
11.1 Gurit Holding Ag
11.2 Dencam Composites
11.3 Norco Composites & Grp
11.4 Janicki Industries, Inc.
11.5 TPI Composites, Inc.
11.6 Schtz Gmbh & Co. Kgaa
11.7 Indutch Composites Technology Pvt. Ltd.
11.8 Shandong Shuangyi Technology Co., Ltd
11.9 Euros Gmbh
11.10 Molded Fiber Glass Companies
11.11 Other Key Companies
11.11.1 GBT Composites Technology Limited
11.11.2 SSP Technology
11.11.3 Bayview Composites
11.11.4 Performance Composites
11.11.5 LM Wind
11.11.6 Fiberglass UK Ltd.
11.11.7 AP Hollings & Sons Limited
11.11.8 CMDT Llc
11.11.9 Mouldcam
11.11.10 Sintex-Wausaukee Composites
For more information about this report visit https://www.researchandmarkets.com/research/584xcx/450_mn?w=5
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article