Glass Mat Market is Forecasted to Reach US$ 1.7 Billion in 2026, Says Stratview Research

Stratview Research, a global market research firm, has launched a report on the global glass mat market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Market Statistics:

Market Size in 2026: US$ 1.7 billion

Growth (CAGR): 5.0% during 2021-2026

Leading Product Type: Chopped Strand Mat

Leading Application Type: Building & Construction

Leading Binder Type: Emulsion

Leading Region: Asia-Pacific

Forecast Period: 2021-2026

Trend Period: 2015-2019

Base Year: 2020

Number of Segments Covered: 4

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights on the Glass Mat Market:

The global glass mat market is segmented based on product type, application type, binder type, and region.

Based on product type – The market is segmented into chopped strand mats and continuous filament mats. Chopped strand mat is estimated to account for the major share of the market during 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 & construction, pipe & tank, and others. Building & 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, and Pipe and Tank are also likely to create sizeable opportunities in the years to come.

Based on binder type – The market is segmented into 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.

To know the most attractive segments, click here for a free sample of the report:

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is the largest market for glass mats. This growth outlook is majorly attributed to the following–

·      Driven by China, India, Japan, and South Korea.

·      Amid the pandemic, China emerged out to be one of the few markets that recorded growth despite a severe decline in Q1 2020.

·      On the other hand, India, another major market in Asia-Pacific, recorded a mammoth plunge in the wake of prolonged lockdown across the nation. However, both major markets (China and India) are likely to grow at a healthy pace in the post-pandemic market developments. Construction, Pipe and Tank, and Transportation continue to drive 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.

• Increased demand for glass composites for building and construction, chemical, and industrial applications due to their flexibility and good resistance to heat, and corrosion.
• An expected recovery in construction spending
• An expected rebound in automobile production, coupled with an incessant shift from traditional materials to lightweight composite materials
• An increase in infrastructure investments related to pipes

Top 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 Unique Insights Does This Report Offer?

This report provides comprehensive insights into the market, answering critical questions like

-      How big is the sales opportunity?

-      Which regions offer the best sales opportunities?

-      Which are the most attractive market segments?

-      Which are the top players and their market positioning?

-      How complex is the business environment?

-      What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

Related Reports:

-      Chopped Strand Market

-      Dry Use Chopped Strand Market

About us –

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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