PUBLISHER: Polaris Market Research | PRODUCT CODE: 1150050
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1150050
The global glass mat material market size is expected to reach USD 1.85 billion by 2030, according to a new study by Polaris Market Research. The report "Glass Mat Material Market Share, Size, Trends, Industry Analysis Report, By Raw Material (Glass Fiber, Binder); By Glass Type; By Mat Type (Chopped Strand, Continuous Filament); By End-Use; By Region; Segment Forecast, 2022 - 2030" gives a detailed insight into current market dynamics and provides an analysis of future market growth.
The growing demand for glass mat material is rising due to the rising requirement for lightweight products with high tensile strength and durability in the transportation, industrial, marine and automotive sectors, which is expected to drive industry growth.
In addition, due to cost-effectiveness and convenience, the increasing penetration of glass mat material in the open mold laminating processes such as hand lay-up and spray-up across emerging economies such as India, China, and Japan. Furtherly, fiberglass is used to shape complex molds, which reduce manufacturing variability, improves thickness, and enhance structural integrity, which produces components for the industrial, medical, and agricultural sector.
Moreover, the increasing demand for electric vehicles across developed and developing countries are rising; many automakers are opting for glass composite batteries as they meet the requirement for water and gas tightness, and their lightweight property which enhances the vehicle's range which eventually has a positive impact on the demand for the market in the automotive industry.
Glass Mat Material Market Report Highlights
The glass fiber segment accounted for the highest revenue share in 2021 and is expected to continue its dominance owing to its durability and high tensile strength.
E-glass type is expected to spearhead revenue growth as it is used in various automotive, marine, and industrial sectors due to its low thermal conductivity and flexibility.
The growing demand for chopped strands owing to their better impregnating capacity with polyester resins and ability to remove air bubbles during the lamination process, which are required in chemical, marine, and construction & infrastructure industries boosting the product demand.
The Asia Pacific is expected to grow over the forecast period due to the expansion of several construction & infrastructure projects across developing nations, such as India and China.
Major players operating in the industry include AGY Holding Corp., Binani Industries Limited, China Beihai Fiberglass Co., Ltd, China Jushi Co., Ltd, Chongqing Polycomp International Corporation, Jigangsu Changhai Composite Materials Co. Ltd, Johns Manville Corp., Nippon Electric Glass Co., Ltd, Owens Corning, PFG Fiber Glass Co.,Ltd, Saint-Gobain S.A., Superior Huntingdon Composite Co., LLC, Taishan Fiberglass Inc., Taiwan Glass Ind Corp.
Polaris Market Research has segmented the glass mat material market report based on raw material, glass type, mat type, end-use, and region:
Glass Mat Material, Raw Material Outlook (Revenue - USD Billion, 2018 - 2030)
Glass Fiber
Binder
Glass Mat Material, Glass Type Outlook (Revenue - USD Billion, 2018 - 2030)
E-Glass
ECR-Glass
S-Glass
C-Glass
Others
Glass Mat Material, Mat Type Outlook (Revenue - USD Billion, 2018 - 2030)
Chopped Strand
Continuous Filament
Glass Mat Material, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Construction & Infrastructure
Industrial
Automotive & Transportation
Marine
Sports & Leisure
Others
Glass Mat Material, Regional Outlook (Revenue - USD Billion, 2018 - 2030)
North America
U.S
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Figure 1. Global Glass Mat Material Market, 2018 - 2030 (USD Billion)
Figure 2. Integrated Ecosystem
Figure 3. Research Methodology: Top-Down & Bottom-Up End-Use
Figure 4. Market by Geography
Figure 5. Porter's Five Forces
Figure 6. Market by Raw Material
Figure 7. Global Glass Mat Material Market, by Raw Material, 2021 & 2030 (USD Billion)
Figure 8. Market by End-Use
Figure 9. Global Glass Mat Material Market, by End-Use, 2021 & 2030 (USD Billion)
Figure 10. Market by Mat Type
Figure 11. Global Glass Mat Material Market, by Mat Type, 2021 & 2030 (USD Billion)
Figure 12. Market by Glass Type
Figure 13. Global Glass Mat Material Market, by Glass Type, 2021 & 2030 (USD Billion)
Figure 14. Glass Mat Material Market Assessment, By Geography, 2018 - 2030 (USD Billion)
Figure 15. Strategic Analysis - Glass Mat Material Market