Building and Construction Industry Leads Volume Growth of the Glass Fiber Market | Acute Market Reports

The building and construction industry has traditionally been the largest consumer of glass fibers. Glass fiber reinforced composites find extensive use in various residential, non-residential, and commercial building applications.

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Glass fiber reinforced concrete has also grown in acceptance and is being used to construct wall panels and sewerage pipes. Additionally, glass fiber reinforced plastics are used to manufacture furniture and fixtures, pipes, and water storage tanks.

Growth in world population is the main factor driving the building & construction industry, as residential and infrastructural investments are essential to sustain the growing population in certain parts of the world such as Africa, Asia, and Latin America.

The Asia Pacific region accounted for 60.5% of the global population in 2019. Growth of the building and construction industry is fuelled by growing population coupled with improving economic conditions in countries such as China and India.

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