The glass mat market size is expected to grow from USD 1.3 billion in 2022 to USD 2.2 billion by 2028 growing at a CAGR of 8.6% between 2023 to 2028. The glass mat market is mainly driven by increasing use of glass mat in the construction & infrastructure and industrial applications end-use industries. Automation in various industries is increasing preference for using glass fabrics, which is among the key restraints in the glass mat market.
‘‘Continuous filament glass mat accounted for the second-largest share, in terms of value & volume, of the overall glass mat market.’’
Continuous filament mat is formed with continuous strands of fiberglass, which are randomly placed and bonded with a binder.These mats offer benefits such as uniform thickness and no loose strands, good resin flow while processing, complete wet through with no bubbles, high resistance to distortion from handling and processing, among others.
These mats are suitable for use in various fiberglass structural applications by using pultrusion, filament winding, and resin transfer molding (RTM) processes. Moreover, this mat can be used in multi-layer composites products.
Powder bonded glass mat to account second-largest market share in glass mat market in terms of value.
Glass mats are produced using glass fiber strands with binders through the forming process.A binder is used in glass mats to hold the glass fiber strands together, enabling the mat to be handled and molded into composites parts.
Powder bonded glass mat offers benefits such as easy air removal and rapid resin impregnation. This mat drapes well to suit the surface of intricate molds, with fast wet-through and wet-out achieved due to the excellent styrene solubility of powder binder.
Automotive & transportation industry is expected to grow at a significant CAGR, in terms of both value and volume.
The automotive & transportation segment has various requirements of glass mats for exterior body panels, doors, underbody shields & engine cover, load floor, and hoods & roof tops. Glass mats are traditionally used in many industries for their excellent physical and mechanical properties such as being light weight, high mechanical strength, thermal & chemical stability, corrosion resistance, dimensional stability, and heat resistance automotive & transportation segment has various requirements including exterior body panels, doors, underbody shields & engine cover, load floor, and hoods & roof tops. Glass mats are traditionally used in many industries for their excellent physical and mechanical properties such as being light weight, high mechanical strength, thermal & chemical stability, corrosion resistance, dimensional stability, and heat resistance
North America is the second-leading glass mat market in terms of both value and volume.
North America has the second-largest share in the global glass mat market, in terms of value and volume.Growth of the glass mat market in North America is mainly driven by growth of end-use industries such as construction & infrastructure, industrial applications, automotive, and consumer goods.
Established players such as Jushi USA (U.S.), Johns Manville (U.S.), and Owens Corning (U.S.) are accelerating their efforts to be in line with the market trends.
Breakdown of Profiles of Primary Interviews:
• By Company Type- Tier 1- 60%, Tier 2- 20%, and Tier 3- 20%
• By Designation- C Level- 33%, Director Level- 33%, and Managers- 34%
• By Region- North America- 20%, Europe- 25%, Asia Pacific (APAC) - 25%, Latin America-10%, Middle East & Africa (MEA)-20%,
The report provides a comprehensive analysis of company profiles listed below:
• Owens Corning, (US),
• Chongqing Polycomp International Corporation (CPIC), (China),
• China Jushi Co., Ltd., (China),
• 3B-the Fibreglass Company, (Belgium),
• Saint-Gobain, (France),
• Nippon Electric Glass Co., Ltd., (Japan)
• China Beihai Fiberglass Co., Ltd, (China),
• Taiwan Glass Ind. Corp. (Taiwan),
• Superior Huntingdon Composites Co., LLC, (US),
• Jiangsu Changhai Composite Materials Co., Ltd, (China),
This report covers the global glass mat market and forecasts the market size until 2028.It includes the following market segmentation – Mat type (chopped strand glass mat, continuous filament glass mat), binder type (emulsion, powder), manufacturing process (dry-laid, wet-laid, others), end-use industry (construction & infrastructure, automotive & transportation, industrial application, marine, sports & leisure goods, and others), and Region (Europe, North America, Asia Pacific, Latin America and Middle East & Africa).
Porter’s Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global glass mat market.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall glass mat market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (Increased use of glass mats in construction & infrastructure industry), restraints (Increased automation resulting in reduced use of glass mats across industries), opportunities (Penetration of composite materials in emerging economies across the world), and challenges (Lack of major research and technical advancements) influencing the growth of the glass mat market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the glass mat market
• Market Development: Comprehensive information about lucrative markets – the report analyses the glass mat market across varied regions
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the glass mat market
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like include Owens Corning, (US), Chongqing Polycomp International Corporation (CPIC), (China), China Jushi Co., Ltd., (China), 3B-the Fibreglass Company, (Belgium), Saint-Gobain, (France), Nippon Electric Glass Co., Ltd., (Japan), China Beihai Fiberglass Co., Ltd, (China), among others in the glass mat market.