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Glass Mat Market Analysis

  • Report ID: GMI7211
  • Published Date: Oct 2023
  • Report Format: PDF

Glass Mat Market Analysis

Glass Mat Market Size, By Mat Type, 2021 - 2032 (USD Million)

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Based on mat type, chopped strand glass mat has traditionally held a larger market share around 61.4% in 2022 particularly in construction and automotive applications due to its versatility and cost-effectiveness. Continuous filament glass mat, with its enhanced strength and durability, has gained ground in sectors where high-performance composites are critical, such as aerospace and wind energy. However, its market share has typically been smaller but is gradually increasing due to growing demand for advanced composite materials. The distribution of market share between these mat types can vary based on regional and sector-specific factors, indicating the need for adaptability and diversification in the glass mat industry to cater to evolving industry demands.
 

Glass Mat Market Revenue Share, By Binder Type, (2023)

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Based on binder type, powder bonded glass mat, and emulsion bonded glass mat, depends on factors like application requirements, performance expectations, and regional preferences. Powder bonded glass mat, known for its cost-effectiveness and suitability for various applications, typically commands a larger market share of 63.6% in 2022 particularly in construction and automotive sectors. On the other hand, Emulsion Bonded Glass Mat, with its ability to offer better resin impregnation and improved mechanical properties, has been growing its market share, especially in applications where higher performance is essential, such as the aerospace and wind energy industries. While powder bonded glass mat maintains a dominant position due to its versatility, Emulsion Bonded Glass Mat is steadily gaining ground, indicating the importance of offering a diverse range of products to cater to different customer needs and industry demands.
 

Based on application, construction and infrastructure continue to be the leading application segment, driven by the demand for glass mats in roofing, insulation, and wallboard, contributing to a significant market share about 43.6% Automotive applications are also substantial, with the need for lightweight composites driving growth in this sector. Industrial applications follow, including electrical and filtration uses. The marine, sports, and leisure goods segments maintain a more niche but noteworthy presence, often requiring specialized glass mat solutions. Other applications encompass a range of diverse uses. While construction and automotive applications retain the lion's share of the market, the industry's growth and diversification efforts are continually exploring opportunities in emerging sectors, aiming to meet evolving market demands and create a more balanced distribution of market share among various applications.
 

U.S. Glass Mat Market Size, 2021- 2032 (USD Million)

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North America dominated the glass mat market in 2022, holds a significant share of around 34.9% of the global market. The United States plays a pivotal role in this industry due to its thriving construction and automotive sectors, where glass mats find extensive applications. The North American market's prominence is also underscored by stringent environmental regulations that Favor the adoption of sustainable materials like glass mats. Furthermore, the region's emphasis on innovation and technology in manufacturing processes contributes to its market share. While North America may experience fluctuations due to economic cycles and evolving industry dynamics, it remains a key hub for glass mat production and utilization, consistently driving the market's growth and innovation.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for glass mat was USD 1.24 billion in 2023 and will register over 5.4% CAGR from 2024-2032 due to the increasing demand in construction and infrastructure projects, the automotive industry, wind energy sector, and electronics applications worldwide.

The construction and infrastructure application segment held 43.6% share of the glass mat market in 2022 and is expected to register a commendable CAGR from 2023-2032 on account of the rising demand for glass mats in roofing, insulation, and wallboards.

North America held 34.9% share of the glass mat industry in 2022 and is expected to register a significant CAGR from 2023-2032 owing to the stringent environmental regulations that favor the adoption of sustainable materials in the region.

PPG Industries, Taishan Fiberglass, Fibretech Industries, Ashland, P-D Glasseiden, and Nitto Boseki, are some of the major glass mat companies worldwide.

Glass Mat Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 16
  • Tables & Figures: 185
  • Countries covered: 16
  • Pages: 120
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