Lucintel Forecasts Glass Mat Thermoplastic Market to Reach $828 million by 2031

Lucintel finds that the future of the global glass mat thermoplastic intermediate material market looks promising with opportunities in transportation and construction applications. The global glass mat thermoplastic market is expected to reach an estimated $828 million by 2031 with a CAGR of 4% from 2024 to 2031. The major growth drivers for this market are the increasing use of glass mat thermoplastic in transportation and construction applications, increasing use for lightweight materials, recyclability, and ease of processing of GMT.

According to the recent study the glass mat thermoplastic market [https://www.lucintel.com/glass-mat-thermoplastic-market.aspx] is projected to reach an estimated $828 million by 2031 from $638.6 million by 2024, at a CAGR of 4.0% from 2023 to 2030. Growth in this market is primarily driven by the increasing use of glass mat thermoplastic in automotive and construction applications, increasing use for lightweight materials, recyclability, and ease of processing of GMT.

Browse 107 figures / charts and 68 tables in this 205 -page report to understand trends, opportunities and forecast in glass mat thermoplastic market by application (transportation, construction, and others), material type (traditional GMT and advance GMT), and region (North America, Europe, and Asia Pacific & Rest of the World).

Lucintel forecasts that transportation will remain the largest application by value and volume due to increasing government mandates for higher fuel economy, recyclability, and ease of processing are the major driving forces that spur growth for GMT.

Traditional GMT is expected to remain the largest market by value and volume, mainly driven by its various mechanical properties like lower mass, recyclability, high productivity, and low tooling cost.

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Asia Pacific (APAC) expected to remain the largest market and it is also expected to witness the highest growth over the forecast period due to the anticipated growth in the end user industries and increasing focus on lightweight thermoplastic composites

Mitsubishi Chemical Advanced Materials, Hanwha Advanced Materials, JFE Chemical Corporation are the major supplier in the glass mat thermoplastic market.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

Contact: Roy Almaguer Lucintel Dallas, Texas, USA Email: roy.almaguer@lucintel.com Tel. +1 972.636.5056

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