Global Fiberglass Sunscreen Market By Application (Corporate Buildings, Hotels, Residential, Hospitals & Clinics, Educational & Government Institutions and Others), By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Get in-depth analysis of the COVID-19 impact on the Fiberglass Sunscreen Market
Market Report Description
The Global Fiberglass Sunscreen Market size is expected to reach $2.6 billion by 2027, rising at a market growth of 5.8% CAGR during the forecast period.
Fiberglass sunscreen is a material used in the home renovation or remodeling field. This material is gaining popularity among the population due to its features such as cooling and heating management. In addition, these fiberglass sunscreens are sustainable, which makes them highly popular among the population. It is recyclable and causes less harm to the environment and thus, the demand for fiberglass sunscreen is witnessing a spike in the market.
With the growing investment in home improvement projects or home remodeling, the demand for fiberglass sunscreen will witness a spur. In the last few years, increased home values have contributed to the rising popularity of fiberglass sunscreen in the market. In addition, people are increasingly investing in home interior decoration due to their spending power, which would bolster the growth of the market.
There is a rise in spending of consumers on home remodeling or home innovations as people are getting more conscious about making their homes look beautiful yet comfortable. Fiberglass sunscreen helps in controlling the temperature of the home as it controls extreme heat and cold. In addition, there is a wide variety of fiberglass sunscreen available in the market, which adds a spark to a home with an elegant look.
Consumers are increasingly spending on home décor and are investing in good quality materials to add a fashion statement to their home. Home remodeling has gained more popularity in the last few years and is becoming a popular concept for homemaking. This is estimated to fuel the growth of the fiberglass sunscreen market during the forecast period.
COVID-19 Impact Analysis
The global COVID-19 pandemic has impacted almost every domain of society. Business & manufacturing units in several nations were closed due to the imposed lockdown as the number of COVID-19 cases was increasing. The fight against pandemic is still on and thus, it would have a significant impact on various sections of society. Moreover, the partial or complete lockdown has affected the global supply chain, thus creating more challenges for manufactures to reach out to their customers. The whole production process has been adversely impacted by the pandemic.
However, consumer spending on home decoration and home remodeling has witnessed a spur during the pandemic. However, the lack of raw material and ban on construction work has negatively impacted the growth of the fiberglass sunscreen market. The shipment delays of fiberglass products from suppliers have increased its price and thus, restricting the market growth.
Based on Application, the market is segmented into Corporate Buildings, Hotels, Residential, Hospitals & Clinics, Educational & Government Institutions and Others. Based on applications, the corporate buildings acquired the largest share in the market in 2020 and it would exhibit similar trend during the forecast period with the fastest growth rate. It is due to the changing preference for sustainable fiberglass window systems fitted in schools, offices, retail facilities, and other buildings. These fiberglass sunscreens have gained traction in the commercial industry because they are very helpful for populous places like offices.
|Market size value in 2020||USD 1.9 Billion|
|Market size forecast in 2027||USD 2.6 Billion|
|Historical Period||2017 to 2019|
|Forecast Period||2021 to 2027|
|Revenue Growth Rate||CAGR of 5.8% from 2021 to 2027|
|Number of Pages||119|
|Number of Tables||200|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Application, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific is anticipated to procure the highest growth rate during the forecast period. With the flourishing hospitality and tourism industries, the fiberglass sunscreen market is estimated to acquire significant growth. As per a report by the United Nations World Tourism Organization (UNWTO) in collaboration with the Global Tourism Economy Research Centre (GTERC), tourism in the Asia Pacific has been experiencing substantial growth in international arrivals since 2005. The increasing construction of sustainable & green buildings in this region is one of the factors fueling the demand for fiberglass sunscreen in the Asia Pacific region.
Free Valuable Insights: Global Fiberglass Sunscreen Market size to reach USD 2.6 Billion by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hunter Douglas N.V., Fulltech Fiber Glass Corporation, Changzhou Bestex Technical Textile Co., Ltd., Sunscreen (Singapore) Pte. Ltd., Sichuan Groupeve Co. Ltd., Wuxi EV Window Decoration Co., Ltd., Hongyuan Envirotech Co., Ltd. (Zhejiang Hongsheng Envirotech Group Co., Ltd.), Ningbo Xianfeng New Material CO., Ltd., Phifer, Inc., and Mermet Corporation.
Scope of the Study
Market Segments Covered in the Report:
- Corporate Buildings
- Hospitals & Clinics
- Educational & Government Institutions
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Hunter Douglas N.V.
- Fulltech Fiber Glass Corporation
- Changzhou Bestex Technical Textile Co., Ltd.
- Sunscreen (Singapore) Pte. Ltd.
- Sichuan Groupeve Co. Ltd.
- Wuxi EV Window Decoration Co., Ltd.
- Hongyuan Envirotech Co., Ltd. (Zhejiang Hongsheng Envirotech Group Co., Ltd.)
- Ningbo Xianfeng New Material CO., Ltd.
- Phifer, Inc.
- Mermet Corporation
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How valuable will the fiberglass sunscreen market be in the future?
The global fiberglass sunscreen market size is expected to reach $2.6 billion by 2027.
What are the key driving factors and challenges in the fiberglass sunscreen market?
Increasing consumer spending on home remodeling are driving the market in coming years, however, lack of awareness among people regarding the product have limited the growth of the market.
What are the major top companies in the competitive landscape?
Hunter Douglas N.V., Fulltech Fiber Glass Corporation, Changzhou Bestex Technical Textile Co., Ltd., Sunscreen (Singapore) Pte. Ltd., Sichuan Groupeve Co. Ltd., Wuxi EV Window Decoration Co., Ltd., Hongyuan Envirotech Co., Ltd. (Zhejiang Hongsheng Envirotech Group Co., Ltd.), Ningbo Xianfeng New Material CO., Ltd., Phifer, Inc., and Mermet Corporation.
What has been the impact of COVID-19 on the global fiberglass sunscreen market?
Yes, However, the lack of raw material and ban on construction work has negatively impacted the growth of the fiberglass sunscreen market. The shipment delays of fiberglass products from suppliers have increased its price and thus, restricting the market growth.
Which segment dominated the fiberglass sunscreen market in 2020?
The Corporate Buildings market dominated the Global Fiberglass Sunscreen Market by Application in 2020. The residential segment is anticipated to showcase a significant growth rate during the forecast period.
Which region is leading the market with high revenue share in 2020?
Region-wise, North America emerged as the leading region in the fiberglass sunscreen market with the largest revenue share in 2020.