Glass Mat Market Global Forecast to 2028: Chopped Strand Glass Mat Segment Dominated Global Glass Mat Market in 2022

DUBLIN, June 9, 2023 /PRNewswire/ -- The "Glass Mat Market by Mat Type (Chopped Strand Mat, Continuous Filament Mat), Binder Type, Manufacturing Process (Dry-Laid, Wet-Laid), End-Use Industry, Region  - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

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 the 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.

A 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, and 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 composite products.

Powder bonded glass mat account for the second-largest market share in the 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.

The Automotive & transportation industry is expected to grow at a significant CAGR, in terms of value and volume.

The automotive & transportation segment has various requirements for glass mats for exterior body panels, doors, underbody shields & engine covers, load floors, and hoods & rooftops. Glass mats are traditionally used in many industries for their excellent physical and mechanical properties such as being lightweight, 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 & rooftops. Glass mats are traditionally used in many industries for their excellent physical and mechanical properties such as being lightweight, high mechanical strength, thermal & chemical stability, corrosion resistance, dimensional stability, and heat resistance

The report provides a comprehensive analysis of the company profiles listed below:

• Owens Corning
• Chongqing Polycomp International Corporation 
• China Jushi
• 3B-the Fibreglass
• Saint-Gobain
• Nippon Electric Glass
• China Beihai Fiberglass
• Taiwan Glass
• Superior Huntingdon Composites
• Jiangsu Changhai Composite Materials

Market Dynamics

Drivers

• Increased Use in Construction and Infrastructure Industries
• Rise in Demand for Lightweight Products in Automotive & Transportation Sector
• Increased Demand for Open Molding in Emerging Countries

Restraints

• Increased Automation Resulting in Reduced Use Across Industries
• Rapid Adoption of Close Molding Method in Developed Countries

Opportunities

• Penetration of Composite Materials in Emerging Economies
• Rise in Demand from Emerging Markets due to Growth in End-Use Industries
• Increased Demand in Construction and Infrastructure Industries in Middle East & Africa

Challenges

• Lack of Major Research and Technical Advancements
• Competition from Alternative Substitutes

Key Attributes:

Key Topics Covered:

Executive Summary

• Chopped Strand Glass Mat Segment Dominated Global Glass Mat Market in 2022
• Emulsion Bonded Glass Mat Segment Accounted for Larger Market Share Based on Binder Type in 2022
• Wet-Laid Manufacturing Process to be Largest Segment in 2023
• Construction & Infrastructure Industry Accounted for Largest Share of Glass Mat Market in 2022
• Asia-Pacific Led Glass Mat Market in 2022

Premium Insights

• Attractive Opportunities in Glass Mat Market - Significant Growth Expected in Glass Mat Market Between 2023 and 2028
• Glass Mat Market, by Mat Type and Region - Chopped Strand Mat and Asia-Pacific Dominated Market in 2022
• Glass Mat Market, by Binder Type - Emulsion Bonded Glass Mat Segment Contributed Larger Share to Market in 2022
• Glass Mat Market, by Manufacturing Process - Wet-Laid Manufacturing Process Segment Contributed Largest Share to Market in 2022
• Glass Mat Market, by End-Use Industry - Construction & Infrastructure Largest Segment of Market in 2022
• Glass Mat Market Growth, by Key Countries - Saudi Arabia to be Fastest-Growing Glass Mat Market During Forecast Period

For more information about this report visit https://www.researchandmarkets.com/r/n59ziz

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