Home Press Releases Glass Mat Material Market Size Worth $1.85 Billion By 2030 | CAGR: 5.7%

Glass Mat Material Market Size Worth $1.85 Billion By 2030 | CAGR: 5.7%

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.

 

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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

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