Glass Mat Market Forecasts to 2028 – Global Analysis By Mat Type (Continuous Filament Glass Mat and Chopped Strand Glass Mat), Glass Type (S-Glass, C-Glass, ECR-Glass, E-Glass and Other Glass Types), Manufacturing Process (Wet-laid, Dry-laid and Other Manufacturing Processes), Binder Type (Emulsion Bonded Glass Mat and Powder Bonded Glass Mat), End User and By Geography
According to Stratistics MRC, the Global Glass Mat Market is accounted for $1.22 billion in 2022 and is expected to reach $1.91 billion by 2028 growing at a CAGR of 7.7% during the forecast period. Glass mats also known as glass veils, are non-woven materials made of fibreglass fibres of varying sizes. These glass fibres are oriented vertically, allowing the electrolyte to permeate through the glass mat and therefore allowing hydrogen gas to escape. The fibers are disturbed uniformly and bonded together by some organic additives. There are different methods for connecting glass fibre, but emulsion-bonded glass mats provide several advantages, including fast air removal, rapid resin impregnation, good surface bonding, high strand integrity, improved composite part aesthetics, and minimal resin usage.
According to Oxford Economics, the global construction industry contributes approximately one-tenth to the global GDP and is expected to reach a size of about USD 8 trillion by 2030.
Market DynamicsDriverRising demand in automotive and wind industry
Due to its lightweight construction and superior corrosion and chemical resistance to steel, glass mat material is in greater demand in the automotive sector. The front and rear bumpers, as well as many other car parts, are made of fiberglass. In addition, rubber-infused glass strings serve as a strengthening agent in the production of timing belts and v-belts, which promotes market expansion. In addition, the development of wind turbine blades using glass composite materials is assisting the market. Glass fiber mat is extensively used in the design of the rotor blades because it lowers wear and weight while maintaining rigidity. Such glass mat applications are anticipated to support market expansion across a number of industries.
RestraintRapid adoption of close molding method in developed countries
The close mold approach saves raw material waste, produces better finished products, allows for speedier production, and reduces finishing and polishing labour. Furthermore, because curing occurs inside the mold, the approach helps manufacturers reduce emissions. This less labor-intensive approach also helps to reduce tool costs. Close moulding technologies enable the manufacturing of high-quality goods with little waste generation. As a result, several manufacturers are using these methods to produce a variety of prepregs and composites.
OpportunityIncreased demand for glass mats in construction & infrastructure industry in the Middle East & Africa
During the last several years, there has been an increase in the use of glass mats in the Middle East and Africa region's construction and infrastructure, as well as automotive and transportation industries. The glass mat market in Saudi Arabia, Qatar, and the UAE is likely to be driven by government investment. Qatar hosted the 2022 FIFA World Cup, which resulted in increased development and infrastructure activity in the country, increasing the use of glass mats. Furthermore, the increasing number of infrastructure investments in Saudi Arabia, Qatar, and the UAE are likely to give possibilities for the Middle East & Africa market to grow.
ThreatLack of major research and technical advancements
Fabric and roving forms are chosen over glass mats in numerous end-use sectors due to the superior technology utilised in their production. This shift is hindering the R&D for the development of innovative glass mat products. Aerospace, automotive, and wind energy are a few significant industries that have been adopting glass fabric composites instead of glass mat in various applications, which is driving producers to focus on fabric and roving research and development (R&D).
Covid-19 ImpactThe COVID-19 epidemic had a negative impact on the expansion of the glass mat material business. The economic downturn and limited operation caused a disruption in the supply chain due to a shortage of raw materials required for product manufacturing, impeded market growth. Furthermore, the pandemic has resulted in the closure of international borders, which reduces demand for fibreglass mat on the international market. Other government authorities across the globe have also imposed control on travelling.
The chopped strand mats segment is expected to be the largest during the forecast period
The Chopped strand mats segment is estimated to have a lucrative growth. Chopped strand mats are comprised of glass fibre strands that are randomly distributed but equally spread and glued together with a binder. These mats are utilised in various hand lay-up and closed mould applications to mould various types of composites products. This mat type is compatible with polyester and vinyl ester resin systems. Recreational, marine, transit, industrial, and construction are some of the key applications for chopped glass mat.
The emulsion bonded glass mat segment is expected to have the highest CAGR during the forecast period
The emulsion bonded glass mat segment is anticipated to witness the highest CAGR growth during the forecast period. In comparison to powder bonded glass mat, emulsion bonded glass mat has better handling properties, higher surface bonding efficiency, and ease of processing. Emulsion bonded mat has advantages such as fast air removal and quick resin impregnation, good surface bonding and high strand integrity, improved composite component appearance, minimal resin consumption, and high strand integrity.
Region with largest shareAsia Pacific is projected to hold the largest market share during the forecast period. Growing demand, emission control policies, and environmentally friendly goods have driven to industry innovation and expansion, establishing the region as a powerful worldwide composites hub. High growth and innovation, together with industry consolidation, are predicted to ensure the regional sector's bright future. The replacement of traditional materials such as steel and aluminium with glass mat due to the latter's superior mechanical and physical qualities is contributing to the growth of the region's glass mat market.
Region with highest CAGRNorth America is projected to have the highest CAGR over the forecast period, owing to increasing industrialization in developed economies in the region. The United States leads this region's glass mat industry, which is known for rapid growth in the construction and automotive industries. Furthermore, the constantly expanding number of industrial and chemical plants will contribute to the market's overall growth in the future years.
Key players in the marketSome of the key players profiled in the Glass Mat Market include Nippon Electric Glass Co., Ltd., Saint-Gobain, Jiangsu Jiuding, Binani Industries, China Beihai, Jushi Group, Texas Fiberglass, Taiwan Glass, Owens Corning, Chongqing Polycomp International Corporation (CPIC), Nitto Boseki, Jiangsu Changhai, Johns Manville, 3B Fiberglass and P-D Glasseiden GmbH
Key DevelopmentsIn December 2022, China Jushi Co., Ltd., a leading fiberglass maker, intends to invest CNY 5.7 billion (USD 812 million) to build the world's first zero-carbon glass fiber plant in the Chinese city of Huai'an. Jushi will spend CNY 4.7 billion (USD 0.68 billion) to build a factory with an annual output of 400,000 tons of glass fiber.
In December 2022, Owens Corning announced that it has completed the sale of its operations in the country to Umatex, a Russia-based producer of carbon fiber and fiber-based items. The transaction includes two manufacturing operations a Composites manufacturing plant in Gous-Khroustalny and an Insulation manufacturing plant in Tver/Izoplit.
In August 2021, Owens Corning introduced PINK Next Gen Fiberglass insulation, a new product developed by the company that offers higher fire resistance performance, improved stiffness, superior texture, and a smooth finish. It enables faster installation compared to other existing products.
In April 2021, CPIC announced a partnership with Jushi Group, another leading Chinese manufacturer of fiberglass products, to jointly invest in a new production line for high-end E-glass fiber products.
Mat Types Covered
• Continuous Filament Glass Mat
• Chopped Strand Glass Mat
Glass Types Covered
• S-Glass
• C-Glass
• ECR-Glass
• E-Glass
• Other Glass Types
Manufacturing Processes Covered
• Wet-laid
• Dry-laid
• Other Manufacturing Processes
Binder Types Covered
• Emulsion Bonded Glass Mat
• Powder Bonded Glass Mat
End Users Covered
• Sports & Leisure
• Marine
• Industrial
• Automotive & Transportation
• Construction & Infrastructure
• Other End Users
Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (
Drivers, Constraints, Opportunities,
Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements