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
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 Mat Material, Glass Type Outlook (Revenue - USD Billion, 2018 - 2030)
Glass Mat Material, Mat Type Outlook (Revenue - USD Billion, 2018 - 2030)
Glass Mat Material, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Glass Mat Material, Regional Outlook (Revenue - USD Billion, 2018 - 2030)