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Glass Mat Market-By Mat Type (Chopped Strand, Continuous Filament), By Binder Type (Emulsion, Powder), By End-Use (Construction & Infrastructure, Automotive & Transportation, Industrial & Chemical, Marine) & By Geography-(North America, Europe, Asia Pacific, Latin America, Middle east and Africa) | 2023-2028

Published: March, 2023
ID: 8392
Pages: 175
Formats: report pdf report excel report power bi report ppt

Glass Mat Market Size-2023-2028

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.

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 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.

Restraints in the Glass Mat Market:

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.

Opportunities in the Glass Mat Market:

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.

Challenges in the 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 REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022-2028

Base Year

2022

Forecast Period

2023-2028

CAGR

7.75%

Segments Covered

  • By Mat Type
  • By Binder Type
  • By End-Use
  • By Region 

 

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

  • North America
  • Europe
  • Asia Pacific 
  • Latin America
  • Middle East & Africa

 

 

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.

Glass Mat Market Segmentation

Glass Mat Market - 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.

Glass Mat Market - 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.

Glass Mat Market - By End-Use:

  • 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.

Glass Mat Market - By Region:

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.

Glass Mat Market Key Players:

  1. Amnest Group

  2. Binani, Industries Ltd.

  3. Central Glass Co., Ltd.

  4. Changzhou Pro-Tech Industry Co., Ltd.

  5. China Beihai Fiberglass Co. Ltd.

  6. China Jushi Co., Ltd.

  7. Chongqing Polycomp International Corporation

  8. Hangzhou Mingda Glass Fibre Co., Ltd.

  9. Hitech Fibre Glass Mattings (P) Ltd.

  10. Jiangsu Changhai Composite Materials Co., Ltd.

  11. Jiangsu Jiuding New Materials Co., Ltd.

  12. Johns Manville

  13. Krosglass S.A.

  14. Nippon Electric Glass Co., Ltd.

  15. Nitto Boseki Co., Ltd.

  16. Owens Corning

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