The Glass Mat Market is predicted to grow from $ 951.8 million in 2022 to $ 1288.7 million in 2028, with a compound annual rate of 7.75% between 2023-2028
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.
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 an 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 wicks 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 the 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, and 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.
REPORT METRIC |
DETAILS |
Market Size Available |
2022-2028 |
Base Year |
2022 |
Forecast Period |
2023-2028 |
CAGR |
7.75% |
Segments Covered |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
|
Market Leaders Profiled |
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. |
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.
Emulsion-bonded glass mat
Powder-bonded glass mat
The emulsion-based segment has dominated the glass mat industry as it provides excellent handling features.
Construction and infrastructure
Automotive
Industrial and chemical
Sports and leisure
Others
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.
The Glass Mat Report includes the segmentation of Regions with their respective Countries.
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
The Asia Pacific is currently the largest consumer of glass mats. 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 a 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.
Recent Developments
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.
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
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