Global Glass Mat Market is valued at approximately USD 1.12 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.00% over the forecast period 2022-2029. Glass mats, also known as glass veils, are non-woven materials made of fiberglass fibres of varying sizes. Due to the vertical alignment of these glass fibres, the electrolyte can pass through the glass mat and allow hydrogen gas to escape. The fibres are equally agitated, and some organic additions bind them together. The Glass Mat Material market is expanding because of factors such as Increasing use in industrial and construction & infrastructure sectors, growing demand for lightweight products in automotive & transportation industry, rising demand for open mold applications in developing countries.
According to Statista, the total construction industry spending in year 2021 stood at 12.9 billion which increased to 13.4 billion in year 2022 and it is projected to reach 19.2 billion in year 2035. As a result, with the rising construction spending, there would be more requirements for glass mats. Furthermore, penetration of composite materials in emerging economies and increasing demand from emerging markets due to growth of end-use industries is creating lucrative opportunities for the market. However, lack of standardization in manufacturing technologies of various glass fiber products and automation in various industries diverting the use of glass mats to other glass fabrics and roving stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Glass Mat Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. By value, and with the biggest market share in 2021, APAC was the region that dominated the glass mat market. Due to the increasing demand from the construction & infrastructure and industrial sectors, the glass mat market is expanding at the fastest rate in the Asia Pacific region.
Major market players included in this report are:
Chongqing Polycomp International Corporation (CPIC),
China Jushi Co., Ltd.
Binani industries limited,
Taiwan Glass Ind Corp,
Nippon Electric Glass Co., Ltd.,
China Beihai Fiberglass Co., Ltd,
Superior Huntingdon Composites Co., LLC,
Jiangsu Changhai Composite materials Co., Ltd,
Recent Developments in the Market:
In July 2021, Owens Corning announced the acquisition of Vliepa GmbH in order to expand its non-woven product catalog and aims to serve building and construction industry in the European region.
In January 2021, to recycle glass fibre scraps and use them in the production of its engineered goods, Johns Manville Corp. established its thermal recycling facility in Trnava, Slovakia. More than 3 tonnes of recycling may be done every hour at this facility.
Global Glass Mat Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Raw Material, Glass Type, Mat Type, End-Use, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Glass End Use offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Raw material:
By Glass Type:
By Mat Type:
Construction & Infrastructure
Automotive & Transportation
Sports & Leisure
Rest of the World