Ottawa, May 22, 2024 (GLOBE NEWSWIRE) -- The global glass mat market size was estimated at USD 1.34 billion in 2023 and is projected to surpass around USD 2.16 billion by 2032, According to Precedence Research. The glass mat market is driven by increasing demand for glass mats in the automotive industry, a wide range of applications in the construction industry, and R&D projects.
The glass mat market refers to the industry involved in the production and sale of glass mats, which are non-woven materials made from glass fibers. A glass mat is a form of nonwoven material composed of long or short glass fibers bound together using a binding agent. This innovation enables the development of new composites that are more suited to electrical insulation applications, as well as technical and economic requirements. Glass mat composites are less expensive due to a more efficient assembly process and consistent fiber length and verticality. This enhances the stability of machined parts and shear testing on glass mat laminates. The 3D pressing of the glass mat lowers the stacking effect of glass cloths, resulting in a more cohesive laminate layer. This structure also improves machinability, allowing for faster milling of laminates and extending the life of diamond and carbide tools.
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Glass Mat Market Key Insights
- North America has captured the biggest revenue 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 accounted for more than 64% of revenue share in 2023.
- By mat type, the continuous filament glass mats segment is projected to grow at the fastest CAGR during the forecast period.
- By binder type, the powder bonded glass mat segment has contributed the largest revenue share of 65% in 2023.
- By binder type, the emulsion bonded glass mat segment is predicted to grow at a notable CAGR over the forecast period.
- By application, the construction & infrastructure segment led the market with the largest revenue share of 44% in 2023.
U.S Glass Mat Market Size and Growth 2024 to 2033
The U.S. glass mat market size accounted for USD 380 million in 2024 and is expected to hit around USD 620 million by 2033, registering a CAGR of 5.53% from 2024 to 2033.
North America dominated the glass mat market in 2023. The US market, which is dominated by established industries such as automotive, construction, and aerospace, is gaining traction as its sectors grow. The region is further expanded as industry players focus on innovation and technical developments.
- For instance, North America, a major auto parts producer, manufactured 14.8 million automobiles in 2022, accounting for 17.4% of the global total. By Q3 2023, it will account for 18.6% of worldwide production, led by the United States and Mexico. The region accounts for 20.7% of global sales and is projected to be the fastest-growing producer over the next six years.
Asia Pacific is expected to experience the fastest growth in the glass mat market due to increased glass manufacturing and low-cost labor. Rapid industrialization, building, and construction projects, and growth in emerging economies such as India and China are expected to boost demand in end-use industries such as transportation, automotive, and maritime. China is the hub for the production of glass mats in the Asia Pacific region and a major contributor to boosting the market growth. China is among the largest producers of electric vehicles, which require lightweight materials for better battery efficiency, and glass mat is the most common material used in the manufacturing of EVs.
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Glass Mat Market Scope
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 5.47% |
| Glass Mat Market Size in 2023 | USD 1.34 Billion |
| Glass Mat Market Size by 2033 | USD 2.28 Billion |
| U.S. Glass Mat Market Size in 2023 | USD 360 Million |
| U.S. Glass Mat Market Size by 2033 | USD 620 Million |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | Type, Binder Type, Application, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Type Insights
The chopped-strand glass mats segment dominated the glass mat market in 2023. Chopped strand mat is a popular material for reinforcement in fiberglass manufacture. It is made up of short glass fibers that are randomly oriented and kept together using a binder. It offers an even finish and good wet-out, making it perfect for boat construction, automotive components, and construction. A chopped strand mat is easy to handle, has high strength and stiffness, making the product strong and resistant to breaking and cracking, and is less expensive than other reinforcement materials such as woven roving or carbon fiber.
The continuous filament mats segment is expected to grow at the fastest pace over the forecast period. Continuous filament mats are easy to slice into different widths and provide wet-through permeability for resin impregnation, leading to fast line speeds. They also improve wet-out, allowing for precise coating of glass filaments and strands. Furthermore, they conform to complex shapes without generating creases or resin breaking.
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Binder Type Insights
The powder-bonded segment dominated the glass mat market in 2023. The composite products have a homogeneous density and strong mat integrity, are easy to cut, have few loose fibers, and are extremely flexible for molding. They also have a fast wet-out speed in resins and a quick air lease, which improves molding productivity and mechanical qualities of the finished product.
The emulsion segment is expected to grow significantly over the forecast period. This material has superior conformability, impregnation, and mechanical qualities. Its quick soaking and rapid gas release boost holding productivity while decreasing resin demand and lowering expenses. Its ease of handling and conformity to complex molds enable high-quality part manufacture. Its superior bonding and minimal resin demand result in outstanding laminate qualities.
Application Insights
The construction & infrastructure segment dominated the glass mat market in 2023 and is expected to grow at the fastest rate during the forecast period. Global construction is booming due to fast urbanization, a growing population, and fresh infrastructure development. Glass mats are essential in the building of roofs, walls, floors, and insulation. They are highly valued for their durability, strength, fire resistance, and moisture resistance. As more people learn about the advantages they offer, the demand for glass mats in construction grows.
Glass Mat Market Dynamics
Driver: Rise in application of glass mat in the construction industry
Glass mat sheathing board, a high-performance external sheathing material, is becoming increasingly popular in construction projects due to its distinct features and construction advantages. The glass mat, which is made by inserting a fiberglass mat between two layers of gypsum, is stronger and more resistant to moisture than ordinary gypsum boards. These boards provide various advantages over standard sheathing solutions, including higher thermal performance, better fire resistance, increased moisture resistance, lower weight, greater strength, and faster installation.
Durability, moisture resistance, dimensional stability, mold resistance, and fire resistance are some of the primary characteristics of glass mat sheathing boards. They are appropriate for numerous uses, including sheathing material for exterior walls and roofs, backing boards for cladding systems, tile backing boards for wet areas, and shaft wall assemblies for fire-rated stairwells. All these factors led to the growth of the glass mat market.
Restraint: Deconsolidation while processing
Composite processing entails impregnating a dry fiber preform with a matrix and pressing it under pressure to enter the pores between the fibers. If the fiber preform is compressible, it will undergo compressive strain. These tensions remain in the final portion after the composite has been cured or cooled.
The impregnated part may require post-processing operations, such as post-cure or warming, to release locked-in stresses, also known as lofting or deconsolidation. This may boost part dimensions and content of voids while decreasing fiber volume fraction. To preserve matrix mechanical properties, thermoset-based composites should be post-cured. Lofting is frequently required in thermoplastic samples to melt the matrix. Deconsolidation can also impair surface quality during the painting phase, such as in the automotive industry, where quick heating may result in surface irregularities.
Browse More Insights:
- Composites Market: The global composites market size was estimated at USD 111.89 billion in 2023 and it is expected to reach around USD 191.36 billion by 2032, expanding growth at a noteworthy CAGR of 6.1% from 2023 to 2032.
- Microfluidics Market: The global microfluidics market size accounted for USD 20 billion in 2022 and is expected to hit around USD 81.26 billion by 2032, poised to grow at a CAGR of 15.1% from 2023 to 2032.
- Ultra-Thin Glass Market: The ultra-thin glass market size was valued at USD 13.82 billion in 2023 and is expected to reach USD 29.84 billion by 2033 expected to grow at a CAGR of 8% from 2024 to 2033.
- Solar Photovoltaic Glass Market: The global solar photovoltaic glass market size was estimated at USD 7.6 billion in 2022 and is expected to hit around USD 114.44 billion by 2032, poised to grow at a CAGR of 31.2% from 2023 to 2032.
- Flat Glass Market: The global flat glass market size was valued at USD 276 billion in 2022 and it is projected to hit around US$ 347 billion by 2030, expected to grow at a CAGR of 4.1% from 2021 to 2030.
- 3D Glasses Market: The global 3D glasses market size was estimated at USD 14.85 billion in 2022 and is projected to hit around USD 24.3 billion by 2032, growing at a CAGR of 5.1% from 2023 to 2032.
- Glass Filter Market: The global glass filter market size was valued at USD 4.2 billion in 2022 and it is expected to hit around USD 7.25 billion by 2032, growing at a CAGR of 7.24% from 2023 to 2032.
- Stained Glass Market: The global stained glass market size reached USD 4.76 billion in 2023 and is projected to hit around USD 8.06 billion by 2033 with a notable CAGR of 5.40% from 2024 to 2033.
- Glass Prepreg Market: The global glass prepreg market size was valued at USD 5.59 billion in 2023 and is anticipated to reach around USD 11.45 billion by 2033, growing at a CAGR of 7.44% from 2024 to 2033.
- Construction Glass Market: The global construction glass market size was valued at USD 110.25 billion in 2023 and is anticipated to reach around USD 187.25 billion by 2033, growing at a CAGR of 5.44% from 2024 to 2033
Opportunity: Application in the automotive industry
Absorbent glass mat (AGM) batteries are an excellent choice for high-end, fuel-efficient vehicles with significant power demands, as well as those looking for dependability and longevity. They are suitable for vehicles that start and stop, huge music systems, heated seats, and other electronic accessories. AGM batteries are designed to withstand high electrical loads, recharge quickly, and have a longer cycle life. They are also appropriate for start-stop vehicles that have regenerative braking or passive boost.
The AGM battery is made up of an absorbent glass mat to divide the positive and negative plates, which are tightly compressed into each cell, and a hard container to keep the batteries compacted throughout their life. AGM batteries have benefits such as up to two times the life of normal flooded batteries, managing high electrical loads, rapid recharges, vibration opposition, non-spillable and maintenance-free, and additional flexibility.
Recent Developments:
- In November 2022, Saint-Gobain performed a groundbreaking ceremony to kick off work on a $167 million glass mat facility at its CertainTeed Roofing campus in Oxford, North Carolina. The investment, estimated at $167 million, is the company's largest ever in a US roofing operation. Additional funding will be set aside for new technologies to improve staff safety and sustainability. The celebration, held at the facility's planned location, included statements from Vice President of CertainTeed Roofing Carmen Bodden, North Carolina Secretary of Commerce Machelle Baker Sanders, County Commissioner Tony Cozart, Oxford Mayor Jackie Sergent, and Glass Mat General Manager Pedro Romero.
- In April 2022, ENTEK intends to increase its global production of Absorbent Glass Mat separator materials in the United States and India to address rising demand for energy storage solutions. The company is now looking for sites for fully integrated AGM production operations comprising fiber and paper lines. ENTEK will be the first glass fiber manufacturer in India.
- In April 2022, Ilium Composites, a global maker of fiberglass structural composite reinforcement, introduced its latest chopped strand mat (CSM) as part of its ULTImat product line. The CSM has a lightweight, integrated polyester surface veil and is built with Ilium's patented technology. It is available in various weights and rolls of 1,270 mm and non-standard widths.
Glass Mat Market Key Players:
- Xingtai Jinniu Fiberglass Co. Ltd.
- Taishan Fiberglass Inc.
- Shandong Fiberglass Group Co. Ltd.
- CPIC Abahsain Fiberglass M.E. W.L.L.
- Chongqing Polycomp International Corp.
- Jushi Group Co. Ltd.
- Zibo Zhuoyi Fiberglass Material Co. Ltd.
- Owens Corning
- Johns Manville
- Glasstex Fiberglass Materials Corp.
- Saint-Gobain
- PFG Fiber Glass Corporation
- Nippon Electric Glass Co. Ltd.
Market Segmentation
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
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