According to a new report by Reports and Data, the global fiberglass mold market is projected to reach USD 631.8 million by 2028, with the Asia Pacific region expected to witness the highest CAGR of 9.4% during the forecast period. The increasing demand for renewable energy sources is one of the primary factors contributing to the market's growth, as fiberglass is stronger and more resistant to corrosion than other materials, making it ideal for products used outside or in states near the ocean. Additionally, the market has unlimited possibilities for manufacturers due to the few limitations of molding fiberglass, making it possible to design visually appealing products that are still structurally strong and durable.

The market can be classified into composite phases, including matrix and dispersed phase, while epoxy resins accounted for the largest market share of ~36% in 2018. Vinyl ester is expected to witness the highest CAGR of 9.5% during the forecast period, as they are more tolerant of stretching than polyesters, reducing the damage caused by impact and stress cracking. Key market 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. These companies have adopted various strategies such as mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.

The market is segmented based on resin type, composite phases, industry vertical, and region, with the building and construction, automotive and transportation, wind energy, aerospace and defense, marine, and other industries contributing to the market's growth. To identify the key trends in the industry, interested parties can visit the link provided in the report.

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Fiberglass Mold Market: Drive factors

The fiberglass mold market is expected to grow significantly due to several driving factors. One of the primary factors is the rising demand for renewable energy sources, which has led to an increased use of fiberglass molds in wind energy applications. Fiberglass is known for its strength and high resistance to corrosion, making it ideal for outdoor products used in coastal areas with high salt content in the air. Fire-retardant resins used in fiberglass molds also make them resistant to fire. Furthermore, the ability to mold fiberglass without limitations allows for unlimited possibilities in design, making them visually appealing yet structurally strong and durable. The Asia Pacific region is expected to witness the highest growth due to the rapidly expanding chemicals and materials, construction, automotive, and other industries in the region. Key players in the market have adopted strategies such as mergers, acquisitions, and partnerships to stay ahead of the competition and introduce new developments in the market.

Fiberglass Mold Market: Notable Innovation

The fiberglass mold market has seen several notable innovations in recent years. One of the key innovations is the use of vinyl ester resin in fiberglass molds. Vinyl esters are more tolerant of stretching than polyesters and can absorb impact, reducing damage and stress cracking. They also shrink less on curing, making it easier to release laminates from molds. Another notable innovation is the development of fiberglass molds for 3D printing applications. The use of 3D printing allows for more precise and complex designs that can be created faster and more efficiently than traditional mold-making methods. Additionally, the development of nanotechnology in fiberglass molds has led to improved mechanical, thermal, and chemical properties, making them even more durable and resistant to damage. These innovations are expected to drive growth in the fiberglass mold market as manufacturers continue to seek out new and improved materials and methods for their products.

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