New York, Oct. 15, 2019 (GLOBE NEWSWIRE) -- The growing demand for renewable energy sources is one of the significant factors contributing to the growth of the market.
The global fiberglass mold market is forecast to reach USD 530.2 Million by 2026, according to a new report by Reports and Data. The growing demand for renewable energy sources is one of the significant factors contributing to the growth of the market. Fiberglass is stronger and has a high resistance to corrosion. The materials are ideal for products used outside, in states near the ocean, with a high salt content in the air. Fire-retardant resins make products withstand fire. There are very few limitations with molding fiberglass, providing unlimited possibilities for manufacturers. This makes it possible to design visually appealing ones that are still as structurally strong and durable.
The Asia Pacific region held the largest market share of ~29% in the year 2018 and is anticipated to witness the highest CAGR of 9.4% during the forecast period. The rapid growth in the demand for fiberglass mold will contribute to the growth of the market in the region. The rising population, growing industrialization, and urbanization, coupled with the expanding chemicals & materials, construction, automotive, and other industries in the region will also escalate the growth of the market.
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Further key findings from the report suggest
- By composite phases, the market can be classified into matrix and dispersed phase. Fiber-reinforced composites usually consist of a continuous phase. This continuous phase is also known as the matrix, and the material that is distributed through the matrix is known as the dispersed phase. The dispersed phase, also called a reinforcement, is added for other purposes, such as, to bulk up the matrix at low cost without affecting the properties of the composite. There may also be a phase to create a bond between layers and phases, sometimes called the interface.
- Among the product types, the epoxy resins accounted for the largest market share of ~36% in the year 2018. The main characteristics of epoxy resin after curing are voltage resistance, water absorption, strength, heat & temperature resistance, chemical resistance, elongation, shrinkage coefficient, thermal conductivity, induced rate, and others.
- The vinyl ester is forecasted to witness the highest CAGR of 9.5% during the forecast period. Vinyl esters are more tolerant of stretching than polyesters. This makes them able to absorb impact, reducing the damage caused, and are less likely to show stress cracking. Vinyl esters shrink less on curing, which means that the 'pre-release' of a laminate from a mold is less significant.
- Key participants include Dencam Composites, Gurit Holding AG, Janicki Industries, Norco Composites & GRP, SCHÜTZ GmbH & Co. KGaA, TPI Composites, Shandong Shaungyi Technology, Indutch Composites Technology, EUROS GmbH, and Molded Fiber Glass Companies, among others.
- The companies have adopted various strategies, including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
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Segments covered in the report:
For this report, Reports and Data have segmented into the global fiberglass mold market on the basis of resin type, composite phases, industry vertical, and region:
Resin Type Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- Polyester
- Vinyl Ester
- Epoxy
- Others
Composite Phases Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- Matrix
- Dispersed Phase
- Interface
Industry Vertical Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- Building & Construction
- Automotive & Transportation
- Wind energy
- Aerospace & Defense
- Marine
- Others
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Regional Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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