Fiberglass (Glass Wool) Insulation Demand to Surpass $12 billion by 2030, Global Market to Witness 3.4% CAGR between 2024 and 2030

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Industry Experts, Inc., has released its latest report on Glass Wool or Fiberglass Insulation. According this new report, global value demand for glass wool/fiberglass insulation is projected to rise at a CAGR of 3.4% between 2024 and 2030 reaching US$12.4 billion by 2030 from an estimated US$10.2 billion in 2024. In volume terms, consumption of glass wool/fiberglass insulation worldwide is forecast to grow at a CAGR of 3% over the outlook period to reach 6.4 million metric tons by 2030.

The global fiberglass (glass wool) insulation industry experienced significant volatility between 2019 and 2024, driven by fluctuations in demand due to the COVID-19 pandemic, geopolitical tensions, supply chain disruptions, and high inflation rates. After a sharp decline in 2020 as the pandemic unfolded, the market rebounded in 2021 with the easing of restrictions and a surge in construction and industrial activity. Increased home improvement efforts and pent-up demand for appliances like refrigerators, dishwashers, and ovens further boosted fiberglass insulation demand in appliance applications.

Residential Construction forms the largest end use application for Glass Wool Insulation, accounting for an estimated 46% valued at US$4.7 billion in terms of value in 2024 and expected to grow at a modest 2024-2030 CAGR of 3.1%. Driven by expanding industrial and manufacturing sectors in developing regions, Industrial & HVAC applications are expected to record the fastest growth, forecast at a CAGR of 4.1% during the 2024-2030 period, followed by Appliances and Transportation applications.

VIPs containing fiberglass (or glass wool) as a core material corner the largest share of the global Vacuum Insulation Panels (VIPs) market estimated at 71% in 2024, attributed to wide usage of fiberglass VIPs in Asia-Pacific's refrigerators & freezers  industry, and further projected to advance at a robust 2024-2030 CAGR of 16%.

The report studies the fiberglass (glass wool) insulation market across all major regions including North America (The United States and Canada), Europe (France, Germany, Italy, Spain, the United Kingdom and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea and Rest of Asia-Pacific) and Rest of World (Brazil, Russia, Turkiye and Other ROW).

The market for major product forms of fiberglass (glass wool) insulation analyzed in this report include Batts & Rolls (Blankets), Blow-in/Loose-fill Glass Wool, Boards and Other Forms (such as preformed ducts, pipe insulation and felts etc.). The study also examines the market for fiberglass applications comprising Residential Construction, Commercial & Industrial Construction, Industrial & HVAC Applications and Appliances & Other.

About Industry Experts, Inc
Industry Experts, Inc., ranks among the leading market research providers globally. The company's off-the-shelf and customized business intelligence reports offer strategic insights and valuable guidance to enable various stakeholders, such as corporate strategists, analysts, researchers and startups, among others, in obtaining valuable, crisp and unbiased current and future market data. For more information, contact us on +1-320-497-3787 or visit https://industry-experts.com/

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