The global glass mat industry is predicted to grow from $ 931.8 million in 2019 to $ 1238.7 million in 2025, with a compound annual rate of 4.75% between 2020 and 2025. The base year considered for the study is 2019 and the size of the industry is predicted between 2020-2025. The increase in the use of matte glass in construction and infrastructure and automotive applications is driving the industry. Glass mat panels are moisture and mildew resistant panels that are non-combustible and provide an improved coated fiberglass mat to maximize air/water barrier coverage. Glass mats are designed for use under exterior siding where gypsum products have traditionally been employed. Glass mats have a long service life and find a broad range of applications in construction and other businesses. The main function of a glass mat is to prevent the active materials from escaping from the positive plate, thus preventing oxidation.
In terms of applications, glass mats are majorly employed in cars, motorcycles, wind turbine production and industrial areas. Some of the outstanding properties of the glass mat include better flammability, better flex resistance, linear expansion with humidity change, heat resistance, surface combustion characteristics, etc. accessories, floor reinforcements, ceilings and waterproofing, wall reinforcement and insulation and others.
Recent Developments and Trends
GAF, a company of Standard Businesses and the largest manufacturer of roofing and waterproofing in North America, announced the restart of its glass carpet plant in Shafter, California, after a multi-million-dollar installation update.
Glass Mat Market Drivers
The global glass mat industry is primarily driven by the expansion of construction and infrastructure activities. The rapidly escalating attractiveness of the industrial and chemical sector, especially in developing regions, will give a boost to the global glass mat industry during the foreseen period. To reduce emissions of harmful substances from fossil energy sources, environmental agencies have created regulations that indirectly promote escalated use of renewable energy sources. This, in turn, led to escalated call for the wind, as a form of energy. The expansion of the wind energy industry and therefore the subsequent increase in the production of wind turbine blades will create opportunities for glass mat manufacturers.
Due to automation and the shift from open mold applications to closed mold applications in developing countries, the application for glass mats has been moved to other products such as glass cloth and glass wick for better results. This acts as a brake on the expansion of the glass mat industry.
The global glass mat thermoplastic industry is predicted to grow at a significant CAGR as call for glass mat thermoplastic material increases due to escalating industrialization. The glass mat thermoplastic material has various advantages such as flexibility, corrosion resistance, impact resistance, durability compared to metal materials, and can replace metals such as steel and aluminum, which are also the driving force behind the worldwide thermoplastic and glass mat industry. Escalating government mandates for escalated fuel economy and lightweight ownership have resulted in the growing call for thermoplastic glass mat materials from the automotive, aerospace and defense businesses, fueling the global thermoplastic glass mat market.
High prices and the presence of alternatives will hinder the expansion of the global glass mat industry during the foreseen period.
Glass Mat Market Segmentation:
By mat type:
Continuous filament mat
Compression chopped strand mat
Chopped strand rugs are predicted to be the fastest growing segment of rug types. It was also the most important segment of glass mat in 2020, in terms of value, as it is the most preferred type of mat for making composites.
By binder type:
Emulsion bonded glass mat
Powder bonded glass mat
The emulsion-based segment has dominated the glass mat industry as it provides excellent handling features.
By end use industry:
Construction and infrastructure
Industrial and chemical
Sports and leisure
The construction and infrastructure segment represents the largest share in the industry, due to innovations in the integration of lightweight compounds in GRP, which offer high corrosion resistance and better aesthetic properties. This is predicted to further increase the call for glass mats from manufacturers of construction and infrastructure components.
Glass Mat Regional Analysis:
The Glass Mat Report includes the segmentation of Regions with their respective Countries.
North America Glass Mat Industry includes U.S, Canada.
Europe Glass Mat Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.
Asia Pacific Glass Mat Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.
Latin America Glass Mat Industry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.
Middle East & Africa Glass Mat Industry includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.
Asia Pacific is currently the largest consumer of glass mat. India and China are also the main businesses due to the growing expansion of the construction and infrastructure and the industrial and chemical businesses in both countries. The escalating industrialization of emerging economies, such as Latin America and Southeast Asia Pacific, will generate high call for glass mat during the foreseen period. In addition, the entry of new composite materials in developing countries, such as India and China, is another factor that will drive the expansion of the glass mat industry in the South Asia region in the coming years. Asia Pacific is predicted to be one of the largest glass mat businesses during the foreseen period..
The glass mat industry is well established in developed regions such as North America and Europe, while Southeast Asia Pacific and Latin America are expanding. In turn, emerging economies are predicted to provide high-expansion platforms for glass carpet manufacturers during the foreseen period. Eastern Europe and Japan are predicted to experience moderate expansion in the global glass mat industry. The Middle East, Africa and Latin America are at an early stage
and are predicted to see significant expansion in the industry during the foreseen period from 2020 to 2025.
Owens Corning has managed to achieve an industry leadership position by operating multiple businesses around the world. It has established strategic alliances with local distribution centers in emerging businesses to increase its participation in the industry and its customer base. As part of the firm's expansion plan in the glass mat industry, it concentrates mainly on funds and expansions, and also the introduction of latest goods.
Some of the significant players working in the Glass Mat industry are Amnest Group, Binani, Industries Ltd., Central Glass Co., Ltd., Changzhou Pro-Tech Industry Co., Ltd., China Beihai Fiberglass Co. Ltd., China Jushi Co., Ltd., Chongqing Polycomp International Corporation, Hangzhou Mingda Glass Fibre Co., Ltd., Hitech Fibre Glass Mattings (P) Ltd., Jiangsu Changhai Composite Materials Co., Ltd., Jiangsu Jiuding New Materials Co., Ltd., Johns Manville, Krosglass S.A., Nippon Electric Glass Co., Ltd., Nitto Boseki Co., Ltd., Owens Corning, P-D Glasseiden GmbH, PPG Industries, Inc., Saint-Gobain SA, Shaanxi Huatek Fiberglass Material Group Co., Ltd., Sisecam Group, Superior Huntingdon Composites, LLC, Taiwan Glass Industry Corporation.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Chopped Strand
5.1.3 Continuous Filament
5.1.4 Y-o-Y Growth Analysis, By Type
5.1.5 Market Attractiveness Analysis, By Type
5.1.6 Market Share Analysis, By Type
5.2 Binder Type
5.2.4 Y-o-Y Growth Analysis, By Binder Type
5.2.5 Market Attractiveness Analysis, By Binder Type
5.2.6 Market Share Analysis, By Binder Type
5.3 End-Use Industry
5.3.2 Construction & Infrastructure
5.3.3 Automotive & Transportation
5.3.4 Industrial & Chemical
5.3.6 Other Applications
5.3.7 Y-o-Y Growth Analysis, By End-User Industry
5.3.8 Market Attractiveness Analysis, By End-User Industry
5.3.9 Market Share Analysis, By End-User Industry
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Type
18.104.22.168 By Binder Type
22.214.171.124 By End-Use Industry
6.1.4 Market Attractiveness Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Type
184.108.40.206 By Binder Type
220.127.116.11 By End-Use Industry
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By Binder Type
188.8.131.52 By End-Use Industry
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Owens Corning
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Jushi Group Co. Ltd.
8.4 Binani Industries Limited
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures