Fiberglass Sunscreen Market Size Worth $2.88 Billion By 2028 | CAGR 5.3%: Grand View Research, Inc.
SAN FRANCISCO, May 12, 2021 /PRNewswire/ -- The global fiberglass sunscreen market size is expected to reach USD 2.88 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.3% from 2021 to 2028. Increasing expenditure on interior decoration and rising construction activities are presenting lucrative opportunities for the market. The market is expected to be driven by the robust development in emerging economies during the forecast period. Along with this, frequent change in sunscreens to complement the décor has become a general norm across the globe. This is being supported by the rising disposable income of the consumer group.
Key suggestions from the report:
- The corporate buildings application segment is projected to register the fastest CAGR from 2021 to 2028
- North America dominated the market with a share of over 35.0% in 2020. This is attributed to the increased spending on residential renovations and repairs by people across the region
- Asia Pacific is projected to expand at the fastest CAGR of 6.1% from 2021 to 2028. Demand for fiberglass sunscreen is increasing in this region due to the flourishing hospitality and tourism industries
Read 80 page research report with ToC on "Fiberglass Sunscreen Market Size, Share & Trends Analysis Report By Application (Corporate Buildings, Residential, Hospitals & Clinics, Hotels, Educational & Government Institutions), By Region, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/fiberglass-sunscreen-market
Rapid urbanization has increased the number of households, which, in turn, will propel the market growth in the forecast period. For instance, it has been projected that the number of households in the U.S. will increase by 12.2 million from 2018 to 2028. This is expected to fuel the overall market growth of fiberglass sunscreens in the forecast period. In the U.S., there was a 14% decline in the dollar value of construction in 2020 owing to the outbreak of COVID-19, but it is anticipated that the construction growth will rebound in 2021 by 4%. This, in turn, will fuel the demand for fiberglass sunscreens over the forecast period.