Glass Mat Market worth $2.2 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, April 26, 2023 /PRNewswire/ -- The report "Glass Mat Market by Mat Type (Chopped Strand Mat, Continous Filament Mat), Binder Type (Emulsion, Powder), Manufacturing Process (Dry-Laid, Wet-Laid), End-Use Industry, Region (North America, APAC, Europe, Latin America, MEA) - Global Forecast to 2028", is projected to grow from USD 1.3 billion in 2022 to USD 2.2 billion by 2028, at a CAGR of 8.6% during the forecast period. Glass mat offers various useful properties such as low weight, high strength, durability, and corrosion resistant. These properties enable their use in various end-use industries such as construction & infrastructure, automotive & transportation, industrial applications, marine, sports & leisure goods, and others.

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282 – Tables 
55 – Figures 
257 – Pages

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Chopped Strand Glass Mat segment is projected to dominate the global glass market during the forecast period.

Glass mat market has been segmented based on the mat type into chopped strand glass mats, and continuous filament glass mats. The chopped strand glass mat dominated the overall market interms of both, value, and volume. These mats get used in wide range of applications including closed-mold and hand-layup. Hence these mats get widely preferred under multiple end-use industries.

Emulsion bonded glass mat segment to grow at a highest CAGR in forecasted period.

In emulsion bonded mat, the binding material is distributed uniformly over glass fiber strands and excess binder can be recovered. This minimizes the loss of binding material. Similarly, emulsion bonded glass mat gives better handling properties, better surface bonding efficiency, and greater ease of processing than powder bonded glass mat. These mats offer benefits such as easy air removal and rapid resin impregnation, good surface bonding and high strand integrity, better appearance of the composite parts, good surface bonding, low resin consumption, and high strand integrity.

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Wet-laid manufacturing process type to dominate the market

Based on manufacturing process type, glass mat market has been segmented into dry-laid, wet-laid and other segments. Wet-laid manufacturing process dominated the market in terms of value in 20222. This manufacturing technology offer high quality, durable glass mats that can be customized as per the end-use application requirements.

Construction & infrastructure end-use industry segment to register a high CAGR in forecasted period.

Various end-use industries such as construction & infrastructure, industrial applications, sporting goods, electricals, consumer goods, and automotive & other transportation use glass mats. In terms of value, construction & infrastructure dominated the market in 2022. This dominance is due to high demand of glass mats in applications such as domes, pediments, letterboxes, blinds, sanitary ware, window profiles, transmission poles, utility poles, and reinforcing bars.

Asia Pacific is expected to be the largest market for glass mat during the forecast period

Asia Pacific is the largest and the fastest growing market for glass mats. The significant growth of glass mat market is due to rising demand from the automotive & transportation, construction & infrastructure sports & leisure, and industrial applications industries. In addition, regional demand from other industries such as wind energy and electrical and consumer goods is high as compared to that in other regions.

Market Players :

The major players operating in the glass mat market includes 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).

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