The global glass mat material market size is estimated to be USD 1.2 billion in 2022 and is forecasted to reach USD 1.7 billion by 2027, witnessing a CAGR of 6.8% between 2022 and 2027. Glass mat is made of non-woven materials, which can be randomly sized, chopped, or continuous glass fibers that are distributed uniformly and are bonded together with a binder material. Glass mat material majorly consist of glass fibers and binders. Glass fiber is a material consisting of numerous extremely fine fibers of glass. These glass fibers can be E-glass, S-glass, and ECR-glass fiber, depending on their applications. Binders are the substances or materials that draw or hold other materials together to form cohesive whole parts.
Glass mats are being used in various end use industries such as: construction & infrastructure, industrial, automotive & transportation, marine, sports & leisure, and many other industries. The increasing demand of glass mats from construction & infrastructure drives the demand for glass mat materials market. However, in 2020, due to the outbreak of COVID-19, the market faced downfall in the demand of glass mat materials. Due to the lockdown scenario in Europe and North America, the demand for glass mat materials from construction & infrastructure, automotive & transportation, industrial, marine and other end-use industries was declined sharply in 2020.
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The demand for products such as storage tanks, walling for cooling towers, process piping, rails, and gratings has increased in the industrial sector. Low weight, high strength, corrosion resistance, and durability have been the foremost drivers for the use of glass mat material in industrial applications. In addition, glass mats provide flexibility for complex structures in various applications.
Construction & infrastructure is another promising end-use industry of glass mat material. Low flammability, dimensional stability, design flexibility, and impact resistance properties of glass mats are important in this industry. Pediments, domes, window profiles, utility poles, transmission poles, and guardrails are a few major applications in the construction & infrastructure industry. The global construction & infrastructure industry is expected to witness a CAGR of ~6.0% during the next two years, with spending on infrastructure expected to largely come from emerging economies such as China, India, Nigeria, and Indonesia.
Over the past years, glass mat materials manufacturers have strengthened their position in the global glass mat material market by adopting various growth strategies including expansions, partnerships, joint ventures, agreements, contracts, new product/technology launches, , and mergers & acquisitions. However, still there is a need for an advanced technology to manufacture glass mat materials at low price.
The major manufacturers profiled in this report include Owens Corning, (US), Chongqing Polycomp International Corporation (CPIC), (China), China Jushi Co., Ltd. (China), Binani industries limited, (India), Saint-Gobain S.A, (France), Taiwan Glass Ind Corp, (Taiwan), Nippon Electric Glass Co., Ltd., (Japan), China Beihai Fiberglass Co., Ltd, (China), Superior Huntingdon Composites Co., LLC, (US), Jiangsu Changhai Composite materials Co., Ltd, (China), Taishan Fiberglass Inc. (CTG), (China), Johns Manville Corp., (US), AGY Holding Corp., (US), PFG Fiber Glass (Kunshan) Co., Ltd., (China), CertainTeed Corporation, (US), and among others.
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Owens Corning is a diversified company that develops, manufactures, and markets glass fiber products. The company is a major producer of glass fiber reinforcements, commercial and residential building materials, and composite systems. It produces glass fibers to manufacture composite materials for the electronics, transportation, and infrastructure industries. Owens Corning operates through three segments: Insulation, Composites, and Roofing. The company manufactures many lightweight, robust, and long-lasting glass products Through its Composites business segment, which includes chopped strand mats, continuous filament mats, multi-end rovings, single-end rovings, and technical fabrics, among others. Its products are used in pipes, roofing shingles, consumer electronics, boats, sporting goods, aviation, defense, automotive, industrial containers, and wind-energy applications. Owens Corning operates through its subsidiaries and has facilities and technical centers in 26 countries of North America, Asia Pacific, Europe, and RoW and subsidiaries. The company serves markets that include wind energy, pipe, industrial and recreational, construction, transportation, and others with its fiberglass fabric products.
Chongqing Polycomp International Corporation (CPIC) manufactures, develops, and markets fiberglass and composites products. The company offers various reinforcement materials such as E-glass fiber roving, mat (emulsion/ powder), woven rovings, multi-axial fabrics, chopped strand long fiber thermoplastics, and other products. Its products find applications in construction, decoration, automotive, medical and sports & leisure equipment, food packaging, aerospace, mechanical, electronic, and other industries. CPIC has established its production bases in Brazil, Bahrain, and China. Its annual fiberglass production capacity exceeds 600,000 tons, and that of glass fabric reaches up to 150 million meters. It has four sales subsidiaries based in North America, Europe, Russia, and Hong Kong. CPIC’s products are sold in North America, the Middle East, Europe, Southeast Asia, Africa, and other regions, with the export volume exceeding 50% of total sales volume. CPIC has developed stable cooperative relations with more than 30 foreign companies, including GE and Dupont. CPIC’s products are widely used in the fields of urban architecture, interior decoration, automobiles, and mechatronics and are gradually occupying other emerging markets, such as wind power generation and aviation.
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