Glass Mat Material Market | Key players operating in the market include Owens Corning, Binani industries limited, Saint-Gobain S.A, AGY Holding Corp., CertainTeed Corporation

The global Glass Mat Material Market size is estimated to be USD 1.2 billion in 2022 and is forecasted to reach USD 1.7 billion by 2027, witnessing a CAGR of 6.8% between 2022 and 2027. The use of glass mat material has increased in the construction & infrastructure and industrial sectors for applications such as reinforcement of concrete products, utility poles, pipes & tanks, roofing panels, and composite walls. The low weight and high strength properties of glass mat allow these products to penetrate the market.

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Increased fuel efficiency and weight reduction are key drivers for the use of glass mat composites in the automotive & transportation industry. In addition, glass mats have a high strength-to-weight ratio and more fatigue-tolerance in design in comparison to traditional materials, creating more efficient designs-structurally and aerodynamically. In the automotive & transportation industry, glass mats are used primarily in exterior body molding for cars, bus body shells, and cargo containers. Floor panels and closures such as doors, deck lids, and lift gates are a few other applications of glass mats. The use of glass mats in the automotive & transportation industry is higher in the Asia Pacific region than in other regions. The increasing demand of glass mats in the automotive & transportation industry is driving the glass mat material market.

The expansion of the construction & infrastructure industry across the globe is considered as another driving factor for the growth of the glass mat material market. Construction & infrastructure is one of the most promising end-use industry for glass mat material, which is forecasted to witness the highest growth potential. Owing to significant growth in the construction & infrastructure sector, the glass mat composites applications has grown exponentially. The industrial end-use industry has turned to glass mat composite material from metal as it provides various efficient features such as corrosion durability, resistance,  low cost, and weight to strength ratio. Various applications such as outer covers for cooling towers, storage tanks, process piping, and rails and gratings use glass mats.

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APAC is expected to account for the largest market share in the glass mat material market during the forecast period.

APAC is the largest glass mat material market in terms of both, value and volume and is expected to maintain its lead during the forecast period. The significant growth in various end-use industries such as construction & infrastructure, industrial, and automotive & transportation are driving the demand for glass mat materials from this region. Europe region is the second largest consumer of glass mat materials.

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The key players in the glass mat material market include Owens Corning, (US), Chongqing Polycomp International Corporation (CPIC), (China), China Jushi Co., Ltd. (China), Binani industries limited, (India), Saint-Gobain S.A, (France), Taiwan Glass Ind Corp, (Taiwan),  Nippon Electric Glass Co., Ltd., (Japan), China Beihai Fiberglass Co., Ltd, (China), Superior Huntingdon Composites Co., LLC, (US), Jiangsu Changhai Composite materials Co., Ltd, (China), Taishan Fiberglass Inc. (CTG), (China), Johns Manville Corp., (US), AGY Holding Corp., (US), PFG Fiber Glass (Kunshan) Co., Ltd., (China), CertainTeed Corporation, (US), and among others. These players are adopting the strategies of new product launches, expansions, and agreements to maintain their competitive position in the glass mat material market.

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