Glass Mat Market Share, Size, Trends, Industry Analysis Report, By Mat Type (Chopped Strand Mat, Continuous Filament Mat); By Binder Type; By Manufacturing Process; By End-Use Industry; By Region; Segment Forecast, 2023 - 2032
The global glass mat market size is expected to reach USD 2.96 billion by 2032, according to a new study by Polaris Market Research. The report “Glass Mat Market Share, Size, Trends, Industry Analysis Report, By Mat Type (Chopped Strand Mat, Continuous Filament Mat); By Binder Type; By Manufacturing Process; By End-Use Industry; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Glass mats are used in various applications in the construction industry, such as roofing, flooring, and insulation. The growing demand for new constructions and renovation projects is driving the demand for glass mats. Construction Products Association (CPA) predicted in January that industrial output will increase by 4.3% in 2022, and the trend will persist. If the predicted expansion occurs, there will be 2.78 million people working in the construction business by 2026. The projected growth in industry output and employment in the construction industry is a positive sign for the glass mat market, as it suggests a potential increase in demand for construction-related materials, including glass mats.
Glass mats are used as reinforcement materials in automotive components such as battery trays, door panels, and engine covers. With rise in demand for EVs, the demand for glass mats in the automotive industry is projected to increase. With the rising middle-class income there is a strong demand for automobiles in the country. The total production of passenger vehicles, 3 wheelers, 2 wheelers, & quadri-cycles in India in December 2022 was around, 1,557,238 units, indicating a significant market for the vehicle components. Therefore, the demand for glass mats in the automotive industry in India is expected to increase in line with the growth in automobile production and sales.
Glass Mat Market Report Highlights
Continuous Filament segment is anticipated to witness faster growth due to demand for composites with high strength, stiffness, and lightweight properties.
Emulsion segment accounted for the larger market share owing to the increasing need for lightweight and fuel-efficient vehicles.
Wet-laid segment is projected to experience larger revenue share due to the growing demand from various end-use industries.
Construction & Infrastructure segment is expected to have a higher growth rate due to growing construction activities.
APAC is projected to register a higher growth rate in the study period owing to the presence of the largest vehicle producers in the region.
North America is expected to grow larger revenue share owing to the increasing popularity of wind energy.
The global players include Owens Corning, Fibrelite, PFG America, Porcher Industries, Sichuan Weibo New Material, Technobasalt-Invest, Unifrax & Zhejiang Yuanda Fiberglass and others.
Polaris Market Research has segmented the glass mat market report based on mat type, binder type, manufacturing process, end-use industry, and region:
Glass Mat, Mat Type Outlook (Revenue - USD Billion, 2019 - 2032)
Chopped Strand Mat
Continuous Filament Mat
Glass Mat, Binder Type Outlook (Revenue - USD Billion, 2019 - 2032)
Powder Bonded Glass Mat
Emulsion Bonded Glass Mat
Glass Mat, Manufacturing Process Outlook (Revenue - USD Billion, 2019 - 2032)
Wet-laid
Dry-laid
Glass Mat, End Use Industry Outlook (Revenue - USD Billion, 2019 - 2032)
Construction & Industry
Industrial Applications
Automotive & Transportation
Marine
Sports & Leisure Goods
Glass Mat, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
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