The Glass Mat Market is likely to grow at a significant CAGR of 5.0% during 2021-2026, to reach US$ 1.7 Billion in 2026, states Stratview Research.
DETROIT, Nov. 15, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the glass mat market which provides a comprehensive analysis of the global and regional industry forecast, current and emerging trends, segment analysis, and competitive landscape.
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Report Highlights
Market Size in 2026 | US$ 1.7 Billion in 2026 |
Growth (CAGR) | 5.0%during 2021-2026 |
Forecast Period | 2021-2026 |
Trend Period | 2016-2019 |
Base Year | 2020 |
Number of Segments Covered | 4 |
Number of Tables & Graphs | 80+ |
Country-Level Market Assessment | 20 |
Segment Insights on the Glass Mat Market
Glass Mat Market is segmented based on product type, application type, binder type, and region.
Based on Product Type- The glass mat market is segmented into chopped strand mats and continuous filament mats. Chopped strand mat is estimated to account for the major share of the marketduring the forecast period due to increased usage in marine, recreational, industrial, transportation, and construction applications. Chopped strand mats are preferred in the open mold process, whereas continuous filament mats are preferred in the closed molding process.
Based on Application Type- The market is segmented as transportation, marine, E&E, building and construction, pipe and tank, and others. Building and construction is estimated to maintain its dominance in the market over the next five years. There has been an incessant increase in the penetration of composite materials in the construction industry, driven by their inherent advantages including corrosion resistance, high specific strength, excellent aesthetic properties, and excellent abrasion resistance. Transportation, Marine, Pipe, and tank are also likely to create sizeable opportunities in the years to come.
Based on Binder Type- The market is segmented as emulsion, powder, and others. Emulsion is estimated to maintain its dominance in the market over the next five years. Emulsion binders are highly preferred in the chopped strand mats for a multitude of parts including automotive parts, boat hulls, and decks, chemical pipes and tanks, and swimming pools. Emulsion binders offer excellent impregnation properties, excellent conformability, better handling properties, ease of processing, good mechanical properties, and better surface bonding efficiency against powder-bonded glass mats.
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Which Region Offers the Best Opportunity and Growth?
The report suggests that Asia Pacific is expected to remain the largest market for glass mat during the forecast period.
This growth is majorly attributed to the following -
- Construction, Pipe and tank, and Transportation continue driving the demand for glass mats in the region.
North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Glass Mat Market Drivers
Some of the key drivers listed in the report are given below.
- An expected rebound in automobile production coupled with an incessant shift from traditional materials to lightweight composite materials.
- An increase in the infrastructure investments related to pipes.
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Top 10 Companies in the Glass Mat Market?
Stratview Research has identified the following companies as the top market players.
- Owens Corning
- China Jushi
- Chongqing Polycomp International Corporation (CPIC)
- 3B Fiberglass
- Taishan Fiberglass
- China Beihai Fiberglass Co., Ltd.
- Nippon Electric Glass Co., Ltd.
- Johns Manville
- P-D Glasseiden GmbH
- Saint-Gobain Adfors.
What Deliverables Will You Get in this Report?
Key questions this report answers | Relevant contents in the report |
How big is the sales opportunity? | In-depth analysis of the Glass Mat Market |
How lucrative is the future? | Market forecast and trend data and emerging trends |
Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
Which are the most attractive market segments? | Market segment analysis and forecast |
Which are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
How complex is the business environment? | Porter's five forces analysis, PEST analysis, Life cycle analysis |
What are the factors affecting the market? | Drivers & challenges |
Will I get the information on my specific requirements? | 10% free customization |
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- Fiberglass Insulation Market
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