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

According to a market report by Lucintel, the future of the global glass mat thermoplastic market looks promising with opportunities in the 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 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.
A more than 150-page report to understand trends, opportunity and forecast in glass mat thermoplastic market to 2031 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 & ROW 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 Group, Hanwha Advanced Materials, and JFE Chemical Corporation are the major suppliers 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.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056
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Lucintel finds that the future of the global glass fiber material market is promising with opportunities in the marine, transportation, pipe and tanks, aerospace, construction, electrical and electronics, consumer goods, and wind energy. The glass fiber material market is expected to reach an estimated $14 billion by 2031 with a CAGR of 4% from 2024 to 2031.

This release was published on openPR.