Glass Mat Market Size Projection: $2.96 Billion by 2032

Report Overview

The global glass mat market size is expected to reach USD 2.96 billion by 2032, according to a new study by Polaris Market Research. The report “Glass Mat Market Share, Size, Trends, Industry Analysis Report, By Mat Type (Chopped Strand Mat, Continuous Filament Mat); By Binder Type; By Manufacturing Process; By End-Use Industry; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Glass mats are used in various applications in the construction industry, such as roofing, flooring, and insulation. The growing demand for new constructions and renovation projects is driving the demand for glass mats. Construction Products Association (CPA) predicted in January that industrial output will increase by 4.3% in 2022, and the trend will persist. If the predicted expansion occurs, there will be 2.78 million people working in the construction business by 2026. The projected growth in industry output and employment in the construction industry is a positive sign for the glass mat market, as it suggests a potential increase in demand for construction-related materials, including glass mats.

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Glass mats are used as reinforcement materials in automotive components such as battery trays, door panels, and engine covers. With rise in demand for EVs, the demand for glass mats in the automotive industry is projected to increase. With the rising middle-class income there is a strong demand for automobiles in the country. The total production of passenger vehicles, 3 wheelers, 2 wheelers, & quadri-cycles in India in December 2022 was around, 1,557,238 units, indicating a significant market for the vehicle components. Therefore, the demand for glass mats in the automotive industry in India is expected to increase in line with the growth in automobile production and sales.

Glass Mat Market Report Highlights

• Continuous Filament segment is anticipated to witness faster growth due to demand for composites with high strength, stiffness, and lightweight properties.
• Emulsion segment accounted for the larger market share owing to the increasing need for lightweight and fuel-efficient vehicles.
• Wet-laid segment is projected to experience larger revenue share due to the growing demand from various end-use industries.
• Construction & Infrastructure segment is expected to have a higher growth rate due to growing construction activities.
• APAC is projected to register a higher growth rate in the study period owing to the presence of the largest vehicle producers in the region.
• North America is expected to grow larger revenue share owing to the increasing popularity of wind energy.
• The global players include Owens Corning, Fibrelite, PFG America, Porcher Industries, Sichuan Weibo New Material, Technobasalt-Invest, Unifrax & Zhejiang Yuanda Fiberglass and others.

Growth Drivers for the Glass Mat Market:

1. Increasing Demand in Construction Industry: Glass mats are extensively used in the construction industry for various applications such as roofing, insulation, and reinforcement. The growing construction activities, especially in emerging economies, coupled with the increasing focus on energy-efficient and sustainable construction materials, are driving the demand for glass mats.
2. Rising Adoption in Automotive Sector: The automotive industry is increasingly utilizing glass mats for applications like interior panels, headliners, trunk liners, and battery separators. With the growing demand for lightweight and fuel-efficient vehicles, glass mats offer a viable solution due to their lightweight nature, excellent strength-to-weight ratio, and acoustic insulation properties.
3. Expanding Applications in Energy Sector: Glass mats find applications in the energy sector, particularly in wind energy and battery technologies. In wind turbine blades, glass mats are used as reinforcements to enhance structural integrity and durability. Moreover, glass mats are employed as separators in batteries, contributing to improved performance and safety in energy storage systems, such as those used in electric vehicles and renewable energy storage solutions.

Applications of Glass Mat:

1. Building and Construction: Glass mats are widely used in the building and construction industry for various applications, including roofing materials, insulation boards, wall panels, and facades. They provide excellent reinforcement, thermal insulation, and fire resistance properties, making them suitable for both residential and commercial construction projects.
2. Automotive Industry: In the automotive sector, glass mats are utilized for interior components such as door panels, headliners, package trays, and trunk liners. They offer advantages such as lightweight construction, noise reduction, and vibration damping, contributing to enhanced comfort and performance in vehicles.
3. Energy Sector: Glass mats play a crucial role in the energy sector, particularly in applications related to renewable energy and energy storage. In wind turbine blades, glass mats are used as reinforcement materials to improve strength and durability, contributing to the efficient generation of wind power. Additionally, glass mats are employed as separators in batteries, including those used in electric vehicles and stationary energy storage systems, enabling efficient ion transport while ensuring safety and longevity.

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Polaris Market Research has segmented the glass mat market report based on mat type, binder type, manufacturing process, end-use industry, and region:

Glass Mat, Mat Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Chopped Strand Mat
• Continuous Filament Mat

Glass Mat, Binder Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Powder Bonded Glass Mat
• Emulsion Bonded Glass Mat

Glass Mat, Manufacturing Process Outlook (Revenue - USD Billion, 2019 - 2032)

• Wet-laid
• Dry-laid

Glass Mat, End Use Industry Outlook (Revenue - USD Billion, 2019 - 2032)

• Construction & Industry
• Industrial Applications
• Automotive & Transportation
• Marine
• Sports & Leisure Goods

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