Press release
Glass Mat Thermoplastic Market is Forecasted to Reach USD 630.6 Million in 2026, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm has launched a report on the global Glass Mat Thermoplastic Market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/2494/glass-mat-thermoplastic-market.html#form
Report Highlights: `
Market Size in 2026: USD 630.6 million
Growth (CAGR): 5.9% during 2021-2026
Forecast Period: 2021-2026
Trend Period: 2015-2019
Base Year: 2020
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights on the Glass Mat Thermoplastic Market:
The global Glass Mat Thermoplastic Market is segmented by application type, material type, and region
Based on the application type: The market is segmented as transportation and non-transportation. The transportation segment is further classified as bumper beam, underbody system, seating structure, interior headliners, load floor/parcel shelf, and others. Transportation is expected to remain the bigger demand generator for GMTs in terms of both value and volume during the forecast period. Benefits offered by glass mat thermoplastic, such as lightweight, recyclability, and ease of processing accompanied with rising government mandates towards higher fuel economy are the major growth drivers for the material in the transportation segment.
Based on the material type: The market is segmented as traditional GMT and advanced GMT. Traditional GMT is projected to be the leading segment of the market during the study period. Bumper beam and underbody system are two leading applications of traditional GMT. Interior headliners on the other hand in the key application of advanced GMTs.
To know the most attractive segments, click here for a free sample of the report: https://www.stratviewresearch.com/Request-Sample/2494/glass-mat-thermoplastic-market.html#form
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests Asia-Pacific is expected to remain the largest market for GMTs over the next five years. This growth outlook is majorly attributed to the following-
• Owing to the growing penetration of GMTs in automobiles paired with greater production of vehicles.
• China, Japan, Korea, and India are the leading producers of automobiles. There has been an increase in the use of composite materials, more specifically compounds, in the region's automotive industry over the eons, making the region the biggest demand generator among all regions.
North America is the second most important market for glass mat thermoplastics in the wake of high usage in their vehicles.
Glass Mat Thermoplastic Market Drivers:
The growth of the Glass Mat Thermoplastic Market is driven by several factors.
• The demand for GMTs is highly related to the production of automobiles and if any change in the production of vehicles usually has similar reflections in the demand for GMTs.
• The pandemic has brought forth several challenges before GMT manufacturers including supply-chain sabotage, reduced demand, huge COVID-related costs, and remote work affecting the efficiency, ultimately giving a huge burden on the balance sheet of the companies.
• However, the market stakeholders are started witnessing recovery from 2021 onwards with the recovery in automobile production.
Top 10 Companies in the Glass Mat Thermoplastic Market:
Stratview Research has identified the following companies as the top market players:
• Quadrant Plastic Composites AG
• Hanwha Advanced Materials (Hanwha Azdel, Inc.)
• JFE Chemical Corporation
• SABIC (Saudi Basic Industries Corporation)
• RTP Company
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Glass Mat Thermoplastic 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:
• Glass Mat Market: https://www.stratviewresearch.com/768/glass-mat-market.html
• Thermoplastic Compounds Market: https://www.stratviewresearch.com/2773/thermoplastic-compounds-market.html
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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.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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