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Glass Mat Market Size

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

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Glass Mat Market Size

Glass Mat Market was valued at USD 1.24 billion in 2023 and is anticipated to grow a CAGR of over 5.4% between 2024 and 2032.

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The glass mat industry is poised for growth driven by increasing demand in construction and infrastructure projects, the automotive industry, wind energy sector, and electronics applications. As the global economy continues to expand, the need for glass mats in areas such as roofing, insulation, lightweight automotive components, wind turbine blades, and electrical insulation remains robust.

Glass Mat Market Report Attributes
Report Attribute	Details
Base Year:	2023
Glass Mat Market Size in 2023:	USD 1.24 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.4%
2032 Value Projection:	USD 1.9 Billion
Historical Data for:	2018 – 2023
No. of Pages:	120
Tables, Charts & Figures:	185
Segments covered:	Mat Type, Binder Type, Application & Region
Growth Drivers:	Construction and Infrastructure Development Electronics and Electrical Applications Growth in Automotive Industry
Pitfalls & Challenges:	Raw Material Price Volatility Quality and Consistency

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However, the industry faces challenges, including raw material price volatility, environmental concerns, and stiff competition. To thrive in this market, companies must focus on product quality, innovation, and sustainability while meeting evolving regulatory requirements, all while navigating potential supply chain disruptions. The glass mat market's future success hinges on its ability to adapt to these dynamics and provide solutions for a wide range of industries.

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.