Glass Mat Market Size Worth $ 2.96 Billion By 2032 | CAGR: 8.4%

Glass Mat Market Size Worth $ 2.96 Billion By 2032 | CAGR: 8.4%


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.

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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

Glass Mat Market Report Scope

Report Attributes

Details

Market size value in 2023

USD 1.43 billion

Revenue forecast in 2032

USD 2.96 billion

CAGR

8.4% from 2023 - 2032

Base year

2022

Historical data

2019 - 2021

Forecast period

2023 - 2032

Quantitative units

Revenue in USD million/billion and CAGR from 2023 to 2032

Segments covered

By Mat Type, By Binder Type, By Manufacturing Process, By End-Use Industry, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

Owens Corning, Jushi, Saint-Gobain, Johns Manville, Chongqing Polycomp International, AGY, Nippon Electric Glass, Binani Industries, Taiwan Glass Industry, Nitto Boseki, PFG Fiber Glass, Taishan Fiberglass, China Beihai Fiberglass, Valmiera Glass, Knauf Insulation, Saertex, 3B - The Fibreglass Company, BGF Industries, Huitex, Saint-Gobain Vetrotex, Binzhou, Nittobo America, Asahi Fiber Glass, Chomarat, PPG Industries, China Jushi, Fiberglass Coatings, Fiber Glass Systems, Fibrelite, PFG America, Porcher Industries, Sichuan Weibo New Material, Technobasalt-Invest, Unifrax & Zhejiang Yuanda Fiberglass.

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  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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