Glass Mat Market (By Type: Chopped Strand Glass Mat, Continuous Filament Glass Mat; By Binder Type: Powder Bonded Glass Mat, Emulsion Bonded Glass Mat; By Application: Construction & Infrastructure, Industrial Application, Automotive) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2033


The global glass mat market size was valued at USD 1.34 billion in 2023 and is anticipated to reach around USD 2.28 billion by 2033, growing at a CAGR of 5.47% from 2024 to 2033. The growth in construction and infrastructural activities in regions is driving the market.

Glass Mat Market Size 2024 to 2033

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Key Takeaways

  • North America dominated the market with the largest market share of 36% in 2023.
  • Asia Pacific is the fastest-growing region of the global market.
  • By mat type, the chopped-strand glass mats segment has contributed more than 64% of market share in 2023.
  • By mat type, the continuous filament glass mats segment is expected to expand at the fastest CAGR during the forecast period.
  • By binder type, the powder bonded glass mat segment has held the major market share of 65% in 2023.
  • By binder type, the emulsion bonded glass mat segment is expected to grow significantly over the forecast period.
  • By application, the construction & infrastructure segment led the market with the highest market share of 44% in 2023.

Glass Mat Market Size in U.S. 2024 to 2033

The U.S. glass mat market size surpassed USD 360 million in 2023 and is expected to be worth around USD 620 million by 2033 at a CAGR of 5.53% from 2024 to 2033.

U.S. Glass Mat Market Size 2024 to 2033

North America dominated the glass mat market in 2023, fueled by well-established industries in construction, automotive, and aerospace. The United States played a key role in the market due to its rising construction and automotive sectors. Moreover, the market players' focus on innovation and technological advancements further contributes to the market expansion in the region.

Glass Mat Market Share, By Region, 2023 (%)

Asia-Pacific is predicted to be the fastest-growing region in the glass mat market over the forecast period. This is because there's a lot of demand for glass mats in this region, especially in building and construction, automotive, and other industries, as the area is experiencing rapid industrialization and growth.

The construction sector in Asia Pacific is booming due to more infrastructure projects, new architectural ideas, a push for eco-friendly buildings, and a high demand for modern construction methods. As construction keeps growing and expanding, the need for glass mats for things like floors, ceilings, walls, and other uses is expected to keep rising. That's why glass mats are expected to stay dominant in the region in the coming years.

  • According to the International Trade Administration (ITA), the construction sector in China is estimated to grow by 8.6% between the years 2022 and 2030.
  • According to the National Investment Promotion & Facilitation Agency, the Indian construction industry is expected to reach US$ 1.4 trillion by the year 2025.

Glass Mat Market Overview

The glass mat market comprises the industry involved in producing and distributing fiberglass mats. These mats are made from randomly spread glass fibers bonded together with a binder. Due to their high strength, durability, and resistance to chemicals and moisture, they find extensive use across various sectors.  Glass mats are commonly used in composite materials to reinforce finished products, providing them with added strength and rigidity. They also serve as thermal and acoustic insulators in applications such as building construction and automotive components. In infiltration systems, glass mats effectively filter particulates from liquids or gases, offering protection against corrosion, chemicals, and moisture.

Glass mats improve acoustics and noise reduction in automotive and architectural settings. The appeal of glass mats lies in their endurance and long-lasting performance, thanks to their exceptional tensile strength and dimensional stability.

Growth Factors

  • Infrastructural growth, urbanization, and the need for eco-friendly solutions are driving the growth of the glass mat market.
  • Innovations such as higher strength and enhanced fire resistance further fuel the growth of the glass mat market.
  • The rise in demand for glass mats from the automotive and chemical industries has increased drastically in the forecast period.
  • The growth of the wind energy sector, aligning with the rise in the production of wind turbine sharp edges, can contribute to the glass mat market expansion.
  • Glass mats are more flexible and resilient, which makes them a better choice than other materials.

Glass Mat Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 5.47%
Global Market Size in 2023 USD 1.34 Billion
Global Market Size by 2033 USD 2.28 Billion
U.S. Market Size in 2023 USD 360 Million
U.S. Market Size by 2033 USD 620 Million
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Type, By Binder Type, and By Application
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa


Glass Mat Market Dynamics

Driver

Rapid urbanization in developing countries

Developing countries like India are witnessing rapid urbanization coupled with increasing housing demand. It is projected that the Indian real estate market will grow exponentially with cost-effective housing. The Indian government is also supporting several innovative building technologies to address this issue with traditional construction, such as sustainability, labor recruiting, productivity, and safety. Moreover, government advancements in the construction industry across the globe can also boost the glass mat market during the forecast period.

  • In November 2023, Saint-Gobain, through its building products subsidiary CertainTeed Roofing, held a groundbreaking ceremony to mark construction toward a new, state-of-the-art roofing manufacturing and distribution center in Bryan, Texas.

Restraint

High cost of glass mat

The cost of high-quality glass mats is quite high, and because there are cheaper alternatives like glass fibers available, the market growth for glass mats might be limited in the future. Also, in developing countries, there's a shift from using glass mats to other products like glass cloth and glass wicks because they're easier to use with automated processes and newer mold applications. This change is making it harder for the glass mat market to grow.

Opportunities

Rise in construction and infrastructure projects

The increase in construction and infrastructure projects worldwide is driving up the demand for glass mats. These mats are tough and durable, preventing leaks and lasting a long time. They're flexible, can withstand heat and moisture, won't catch fire easily, and are resistant to water damage and mold. Because of these qualities, they're being used more in flooring, roofing, insulation, and vehicles. This rising demand from industries like construction, chemicals, and automotive is expected to boost the glass mat market revenue in the future.

Utilizations of glass mat in various industries

The electrical and electronics industry uses glass mats because they're great at insulating against both heat and electricity. This creates various opportunities in the glass mat market. They're used in things like appliances, transformers, and circuit boards to keep them safe and working well. In the marine industry, glass mats are handy for boat parts like hulls and decks because they resist corrosion, repel water, and last a long time in tough conditions. Furthermore, glass mats are also used to make wind turbine blades and aerospace parts because they're light but strong, which is important for those applications.

  • In January 2023, Blackburn, following success in a project for recycling carbon composites with its multi-patented Deecom 'proteolysis' process, UK-based B&M Longworth, is part of a new consortium that will explore the recycling of glass fiber composites.

Type Insights

The chopped strand glass mats segment dominated the market share in 2023 and is expected to maintain its position throughout the forecast period. This is especially due to its demand in the construction and automotive sectors and its affordable nature. Chopped strand mat is extensively used in mold making and to produce low-cost GRP moldings like panels and small boat hulls.

The continuous filament mats segment is expected to be at a significant pace over the foreseen period. A continuous filament mat (CFM) has better mechanical properties than a chopped strand mat (CSM), as it is stronger, stiffer, and more stable in shape. Because of this, CFM is preferred for things that need to be strong and stiff, like wind turbine blades, aerospace parts, and car components. It's also lighter than materials like metal or concrete, which is great for making things like airplanes and wind turbine blades that need to be lightweight. People want composites more because they're strong, stiff, and light. CFM is a big part of composites, so it's boosting the glass mat market.

  • In February 2023, the European Glass Fibre Producers Association commissioned PwC – Sustainable Performance and Strategy to prepare a report on the life cycle assessment (LCA) of continuous filament glass fiber products.

Binder Type Insights

The powder bonded segment held the largest share in the glass mat market in 2023. This is attributed to its cost-effectiveness and convenient application in various sectors. Additionally, the growing demand for eco-friendly coating solutions will drive the segment's growth over the projected period.

Glass Mat Market Share, By Binder Type, 2023 (%)

The emulsion segment is expected to grow significantly over the forecast period. Emulsion-bonded glass mats are popular in the vehicle industry because people want lighter cars and use less fuel. Using these glass mats can make vehicles lighter, which means they can go further on less fuel. Emulsion-bonded glass mats are better than powder-bonded ones because they're more flexible, easier to work with, and stick better. This makes them stronger and longer lasting in whatever they're used for.

Application Insights

The construction & infrastructure segment held a significant share of the glass mat market in 2023 and is expected to grow substantially during the forecast period. Construction is booming all over the world because cities are growing fast, the population is increasing, and there's a lot of new infrastructure being built. Glass mats are used a lot in construction for things like roofs, walls, floors, and insulation. Because there's so much construction happening, there's a big demand for glass mats. They're great because they're strong, last a long time, resist moisture, and don't catch fire easily, which makes them perfect for building stuff. As more people learn about how good glass mats are, the demand for them in construction keeps going up.

  • In June 2022, Owens Corning announced its agreement to acquire Natural Polymers, LLC, an innovative manufacturer of spray polyurethane foam insulation for building and construction applications based in Cortland, Illinois.

Recent Developments

  • In October 2023, Ahlstron OYJ, a renowned supplier of fiber-based products, announced the launch of a new glass fiber tissue. The newly launched glass fiber is suitable for high-performance construction materials, which are in high demand on a global level.
  • In March 2023, Fortis3D, a start-up based in Canada focused on providing 3D printing materials, announced the launch of its new glass fiber nylon filaments for 3D printing applications back.
  • In April 2022, ENTEK announced the expansion of the absorbent glass mat (AGM) separator materials into the U.S. and India to fulfill the demand from the automotive sector.
  • In September 2022, SABIC, a leading name in the glass fiber products space, announced the launch of its new glass-fiber-reinforced polypropylene compounds for structural applications in the automotive industry.

Glass Mat Market Companies

  • Shandong Fiberglass Group Co. Ltd.
  • PFG Fiber Glass Corporation
  • Taishan Fiberglass Inc.
  • Jushi Group Co. Ltd.
  • Owens Corning
  • Chongqing Polycomp International Corp.
  • Xingtai Jinniu Fiberglass Co. Ltd.
  • Johns Manville
  • Saint-Gobain
  • Glasstex Fiberglass Materials Corp.
  • Nippon Electric Glass Co. Ltd.
  • CPIC Abahsain Fiberglass M.E. W.L.L.
  • Zibo Zhuoyi Fiberglass Material Co. Ltd.

Segments Covered in the Report

By Type

  • Chopped Strand Glass Mat
  • Continuous Filament Glass Mat

By Binder Type

  • Powder Bonded Glass Mat
  • Emulsion Bonded Glass Mat

By Application

  • Construction & Infrastructure
  • Industrial Application
  • Automotive
  • Marine
  • Sports & Leisure Goods
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Frequently Asked Questions

How big is the glass mat industry?
The global glass mat market size is expected to increase USD 2.28 billion by 2033 from USD 1.34 billion in 2023.
What is the growth rate of the glass mat industry?
The global glass mat market will register growth rate of 5.47% between 2024 and 2033.
Who are the prominent players operating in the glass mat market?
The major players operating in the glass mat market are Shandong Fiberglass Group Co. Ltd., PFG Fiber Glass Corporation, Taishan Fiberglass Inc., Jushi Group Co. Ltd., Owens Corning, Chongqing Polycomp International Corp., Xingtai Jinniu Fiberglass Co. Ltd., Johns Manville, Saint-Gobain, Glasstex Fiberglass Materials Corp., Nippon Electric Glass Co. Ltd., CPIC Abahsain Fiberglass M.E. W.L.L., Zibo Zhuoyi Fiberglass Material Co. Ltd., and Others.
Which are the driving factors of the glass mat market?
The driving factors of the glass mat market are the rapid urbanization in developing countries, rise in the production of wind turbine sharp edges, and increasing housing demand.
Which region will lead the global glass mat market?
North America region will lead the global glass mat market during the forecast period 2024 to 2033.

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