“Glass mat market projected to register a CAGR of 4.83% during forecast period”
The glass mat market is projected to reach USD 1,238.5 million by 2022, at a CAGR of 4.83% between 2017 and 2022. The major driver stimulating the glass mat market is the high demand from the construction & infrastructure industry, as glass mat composites provide better properties such as superior aesthetics quality and durability along with low maintenance cost. However, automation in various end-use industries is leading to replacement of glass mat with glass fabrics and roving.
“Industrial & chemical is the fastest-growing application segment in terms of value”
Glass mats are widely used in manufacturing oil & gas composite components. Glass mat is the leading type of reinforcement used in various oil & gas applications, such as piping systems, risers, gratings, tanks, casing, tubing, cable trays, ladders, and walkways. It is also used extensively for various tanks applications, such as chemicals, oil & gas, water and wastewater treatment plants, and pulp & paper. There is a significant rise in the use of glass mat composites in pressure vessels and cylinders due to its lightweight properties. All these factors are driving the glass mat market in the industrial & chemical application segment.
“Asia Pacific is fastest-growing glass mat market”
Asia Pacific is expected to be the fastest-growing market for glass mat in the next five years. The market in this region is driven by the increasing consumption of glass mat composites in various industries such as construction & infrastructure, industrial & chemical, and automotive. China leads the market in Asia Pacific. The industrial & chemical industry dominates the demand for glass mats in the country.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into following three categories:
• By Company Type: Tier 1 - 37%, Tier 2 - 27%, and Tier 3 - 36%
• By Designation: C Level - 46%, Director Level - 36%, and Others - 18%
• By Region: North America - 27%, Europe - 37%, Asia Pacific - 27%, and RoW - 9%
The report provides comprehensive analysis of company profiles listed below:
• Owen Corning (US)
• Jushi Group Ltd. (China)
• Chongqing Polycomp International Corporation (China)
• Taiwan Glass Ind Corp. (Taiwan)
• Binani Industries Limited (India)
• Saint-Gobain S.A. (France)
• China Beihai Fiberglass Co., Ltd (China)
• Superior Composites Co, LLC (US)
• Nippon Electric Glass Co. Ltd. (Japan)
• Jiangsu Changhai Composite Materials Co., Ltd (China)
This report covers the market for glass mat and forecasts the market size until 2021. The report includes the market segmentation by mat type (continuous filament, chopped strand), binder type (emulsion bonded, powder bonded), end-use industry (construction & infrastructure, automotive, industrial & chemical, marine, sports & leisure and others), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). Porter’s five analyses along with drivers, restraints, challenges and opportunities have been discussed in the report. It also provides company profiles and competitive strategies adopted by major players in the glass mat market.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the glass mat market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, exhibitions, and mergers & acquisitions.