Global Glass Mat Market Size To Worth USD 2.71 Billion By 2032 | CAGR of 8.1%
Category: Chemicals & MaterialsGlobal Glass Mat Market worth USD 2.71 Billion By 2032.
According to a research report published by Spherical Insights & Consulting, the Global Glass Mat Market Size is to grow from USD 1.24 Billion in 2022 to USD 2.71 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 8.1% during the projected period. During the forecast period, the rising demand for lightweight products in the transportation and automotive sectors will be a key driver promoting the growth of the global glass mat market.
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Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on "Global Glass Mat Market Size, Share, and COVID-19 Impact Analysis, By Type (Chopped Strand Mat, Continuous Filament Mat), By Binder Type (Emulsion, Powder), By Manufacturing Process (Dry-Laid, Wet-Laid), By End-Use Industry (Construction and Infrastructure, Industrial Applications, Automotive and Transportation, Marine, Sports and Leisure Goods, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/glass-mat-market
A glass mat is a non-woven material made up of massively formed fiberglass fibers that are usually evenly distributed and held together by organic additives. They can create fibers that are naturally heat resistant and strong. They are widely used in a wide range of applications such as construction and infrastructure, marine, sports and recreation, and others. Glass Mat is a serious lead-corrosive battery that provides more power to assist the higher electrical demands of modern automobiles and start-stop applications. AGM batteries are extremely vibration resistant, completely fixed, nonspillable, and require no maintenance. The adoption of glass mats in the making of wind energy blades, due to their low cost and high performance, drives the glass mat market's large-scale growth. Furthermore, the rising demand for lightweight products in the automotive and transportation industries is propelling the market forward. However, automation is replacing glass mats with glass fabrics and roving in various industries. This is one of the major factors limiting the growth of the glass mat market. Composite material penetration in emerging economies and rising demand for glass mats are expected to drive the glass mat market forward in the coming years.
The chopped strand mat segment is expected to hold the largest share of the global glass mat market during the forecast period.
The global glass mat market is divided into two categories: chopped strand mat and continuous filament mat. The chopped strand mat segment will likely account for the majority share of the global glass mat market throughout the forecast period. The numerous applications of chopped strand mats in various end-use industries can be attributed to the growth.
The emulsion segment is expected to grow at the highest CAGR in the global glass mat market during the forecast period.
The global glass mat market is classified into emulsion and powder based on the binder type. The emulsion segment in the global glass mat market is projected to expand at the fastest CAGR throughout the forecast period. The reason for this growth is that emulsion bonded glass mat has better handling properties, surface bonding efficiency, and ease of processing than powder bonded glass mat.
The construction and infrastructure segment is expected to grow at the fastest pace in the global glass mat market during the forecast period.
The global glass mat market is segmented by end-use industry into construction and infrastructure, industrial applications, automotive and transportation, marine, sports and leisure goods, and others. The construction and infrastructure segment is projected to expand at the greatest pace in the global glass mat market throughout the forecast period. The increasing demand for lightweight composite materials in the construction industry can be attributed to segmental growth.
Asia Pacific is anticipated to hold the largest share of the global Glass Mat market over the predicted timeframe.
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The Asia Pacific glass mat market is expected to expand rapidly during the forecast period. Rapid growth in the construction and building services sector as a result of rapid industrialization and urbanization has significantly raised the demand for glass mats, which is expected to propel revenue growth in the region. Increasing demand, emission control policies, and environmentally friendly products, among other factors, have resulted in industry innovation and development, cementing the region's position as a strong global composites hub. High levels of innovation and development, as well as industry consolidation, are expected to ensure a bright future for the regional industry.
Major vendors in the Global Glass Mat Market include Owens Corning, Braj Binani Group., ADFORS, TAIWAN GLASS IND. CORP, Nippon Electric Glass Co.,Ltd., China Beihai Fiberglass Co. Ltd., Jiangsu Changhai Composite Materials Co., Ltd., John Manville, KROSGLASS SA, Sisecam Group, Hitech Fibre Glass Mattings (P) Ltd., Jiangsu Jiuding New Materials Co., Ltd., Schott AG, Taiwan Glass Ind. Corp., Nippon Sheet Glass Co., Ltd, Armortex, and Others.
Recent Developments
- In December 2022, Owens Corning disclosed the completion of the sale of its operations in the country to Umatex, a Russian manufacturer of carbon fiber and fiber-based products. The transaction includes two manufacturing plants: one in Gous-Khroustalny for composites and another in Tver/Izoplit for insulation.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Glass Mat Market based on the below-mentioned segments:
Global Glass Mat Market, By Type
- Chopped Strand Mat
- Continuous Filament Mat
Global Glass Mat Market, By Binder Type
- Emulsion
- Powder
Global Glass Mat Market, By Manufacturing Process
- Dry-Laid
- Wet-Laid
Global Glass Mat Market, By End-Use Industry
- Construction and Infrastructure
- Industrial Applications
- Automotive and Transportation
- Marine
- Sports and Leisure Goods
- Others
Global Glass Mat Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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