Glass mat material is a type of fiberglass that is widely
used in various industries such as construction, automotive, and marine. It is
a versatile and durable material that is known for its excellent mechanical
properties and resistance to corrosion and chemicals.
Glass mat is made by combining strands of fiberglass with a
binder material to create a mat-like structure. The binder material is
typically a polyester resin that helps to hold the strands of fiberglass
together. The resulting material is strong, lightweight, and can be molded into
various shapes.
One of the main benefits of glass mat material is its
strength. It is known for its high tensile strength, which makes it an ideal
material for use in applications where strength and durability are important.
Additionally, glass mat material is resistant to corrosion and chemicals, which
makes it an ideal choice for use in harsh environments.
In the construction industry, glass mat material is used in
a variety of applications such as roofing, insulation, and wallboard. In
roofing, it is often used as a reinforcement material to provide additional
strength and durability to the roof structure. In insulation, it is used as a
backing material to provide additional insulation and prevent heat loss.
In the automotive industry, glass mat material is used in
the manufacture of various components such as body panels, engine parts, and
interior trim. Its strength and durability make it an ideal choice for use in
these applications, where it can withstand the rigors of daily use and exposure
to harsh environments.
In the marine industry, glass mat material is used in the
manufacture of boats and other watercraft. Its resistance to corrosion and
chemicals makes it an ideal choice for use in these applications, where
exposure to saltwater and other harsh conditions can cause significant damage
to other materials.
Dynamics of Glass Mat Material Market
Growth Drivers in
Glass Mat Material Market
The demand for lightweight and corrosion-resistant materials
in the automotive industry has led to an increase in the usage of glass mat
material. Fiberglass is commonly used in the manufacturing of vehicle parts
such as doors and front and rear bumpers due to its superior chemical and
corrosion resistance compared to steel. Glass strings infused with rubber are
also utilized as a strengthening agent in the production of timing belts and
v-belts, thus contributing to market growth.
Furthermore, the wind power industry's adoption of glass
composite material for the development of wind turbine blades has also
supported market growth. Glass fiber mat plays a vital role in designing the
rotor blades, as it reduces fatigue and weight while maintaining rigidity. When
infused with resins and wood epoxy, glass fiber further enhances the blade's
performance and improves efficiency. These diverse applications of glass mat in
different industries are expected to boost market growth.
Restraints in Glass
Mat Material Market
However, the rapid adoption of the close molding method in
developed countries presents a restraint for the market. This method helps
manufacturers to reduce the wastage of raw materials, achieve better finish
parts, faster production, and reduce efforts related to finishing and
polishing. Additionally, this method helps in minimizing emissions as curing
takes place inside the mold. The close molding process also reduces tool costs
and produces high-quality products with minimal waste generation. Therefore,
many manufacturers are adopting this process to manufacture various products
made of prepregs and composites.
Opportunities in
Glass Mat Material Market
The Middle East & Africa region has seen an increased
demand for glass mats in the construction & infrastructure industry,
providing opportunities for market growth. While the glass mat industry has
been mainly concentrated in Asia Pacific, North America, and Europe, there has
been a surge in the use of glass mats in the Middle East & Africa region
over the last few years. The governments of Saudi Arabia, Qatar, and the UAE
have been spending on infrastructure, resulting in increased construction
activities and the use of glass mats. For instance, the 2022 FIFA World Cup
hosted by Qatar has led to a rise in infrastructural developments, thereby
driving the use of glass mats. As the number of infrastructural developments in
the region continues to grow, it is expected to provide opportunities for
market growth.
Challenges in Glass
Mat Material Market
However, the lack of major research and technical
advancements poses a challenge for the market. In various end-use industries,
such as aerospace, automotive, and wind energy, glass fabric composites are
preferred over glass mats due to the advanced technology used in their
manufacturing. This shift towards fabrics and roving is hindering the research
and development of innovative glass mat products. Consequently, manufacturers
are focusing their R&D efforts on glass fabric composites and roving,
leaving glass mat products behind.
Regional Insights
During the forecast period, the Asia Pacific (APAC) region
emerged as the dominant market for glass mat material, with the largest market
share in terms of value. This growth can be attributed to the increasing demand
for glass mat material in the construction and infrastructure as well as
industrial sectors. Compared to other regions, APAC has a high demand for glass
mat material in industries such as marine and consumer goods. This has led to
the presence of top glass mat material manufacturers such as China Jushi Co.,
Ltd. (China), Chongqing Polycomp International Corporation (China), and Owens
Corning (US) catering to the rising demand in the region. As a result, the APAC
region is considered the fastest-growing market for glass mat material.
Ecosystem of Glass Mat Material Market
The glass mat material market is being driven by the
increasing demand for open mold applications in developing countries. The hand
lay-up and spray-up methods are easy to use, cost-effective, and can achieve
reliable quality with skilled labor and a good rate of production. Developing
countries such as India are adopting glass fiber mats in various applications,
thereby increasing the demand for glass mat material.
However, automation in various industries and the shift from
open mold applications to close mold applications in developed countries is a
major restraint for the glass mat material market. The demand for glass mats
has shifted to other products such as glass fabric and glass roving, which
provide better results when used with advanced machinery for producing various
components. For instance, Ingersoll Machine Tools, a US-based company, has
developed automated lines for glass fabric deposition on wind blades, resulting
in the shift from glass mat products. This trend is hindering the growth of the
glass mat material market.
The emergence of composite materials in developing economies
presents an opportunity for the glass mat material market to expand. While the
composite industry was traditionally focused on Japan, North America, and
Europe, there has been a shift towards emerging economies in Asia Pacific.
These economies have a growing demand for low-cost materials, particularly in
the construction and industrial sectors. As a result, the composite industry in
these regions has experienced rapid growth, with glass fiber replacing
traditional materials such as wood and aluminum. Glass mats of various grades
are available to cater to different applications, offering desirable features
such as strength, durability, and low weight.
On the other hand, the availability of high-performance
substitutes poses a significant challenge for the glass mat material market. In
industries such as aerospace & defense and automotive, carbon fiber is
increasingly replacing glass fiber due to its superior properties. Compared to
glass mats, glass fabric and roving offer better features. The constant need
for innovation and automation is pushing many industries towards roving and
fabrics, which is one of the major obstacles for the growth of the glass mat
material market.
The glass fiber segment is expected to dominate the market
during the forecast period owing to its superior properties such as high
temperature and humidity resistance and chemical stability. The rising demand
for glass fiber in various industries, including construction, architecture,
pipes and refineries, and aviation sectors, is expected to further drive market
growth. The electrical grade glass (E-glass) is expected to lead the market due
to its thermal insulation property and resistance to abrasion and vibration.
Additionally, E-glass is cost-effective and offers better resistance to heat,
chemicals, and moisture, making it highly sought after in the aerospace,
marine, and electronic circuit board industries.
Furthermore, the demand for chopped strand is expected to
surge significantly over the forecast period due to its random orientation,
good strand integrity, and wettability, which are highly useful in
waterproofing, bathroom units, and partition boards. The cost-effectiveness,
better tailoring properties, and the ability to adapt quickly to complex molds
are driving the growing demand for chopped strands. It is also widely used in
machines, roads, shipbuilding, and has a huge demand in the automotive and
construction industry, which is expected to bolster
Dominating Companies in Glass Mat Material Market
- OWENS CORNING
- CHONGQING POLYCOMP INTERNATIONAL CORPORATION (CPIC)
- CHINA JUSHI CO., LTD.
- BINANI INDUSTRIES LIMITED
- SAINT-GOBAIN S.A.
- TAIWAN GLASS IND CORP.
- NIPPON ELECTRIC GLASS CO., LTD.
- CHINA BEIHAI FIBERGLASS CO., LTD.
- SUPERIOR HUNTINGDON COMPOSITES CO., LLC.
- JIANGSU CHANGHAI COMPOSITE MATERIALS CO., LTD.
- TAISHAN FIBERGLASS INC. (CTG)
- JOHNS MANVILLE CORP.
- AGY HOLDING CORP.
- PFG FIBER GLASS (KUNSHAN) CO., LTD.
- CERTAINTEED CORPORATION
- CENTRAL GLASS CO., LTD
- HANGZHOU MINGDA GLASS FIBRE CO., LTD.
- NITTO BOSEKI CO., LTD
- KROSGLASS S.A.
- SISECAM A.S.
- EASTERN INDUSTRIAL COMPANY (EICO)
- JIANGSU JIUDING NEW MATERIAL CO., LTD
- P-D GLASSEIDEN GMBH
- TEXAS FIBERGLASS GROUP
- ADFORS
- Hitech Fibre Glass Mattings (P) Ltd
- Schott AG,
- Armortex
- Total Security Solutions (TSS)
- Apogee Enterprises, Inc.
- Binswanger Glass
- RUBY MICA CO. LTD.
Recent Developments in Glass Mat Material Market
- In 2020, Owens Corning, a leading manufacturer of
insulation, roofing, and fiberglass composites, acquired Aslan FRP, a
manufacturer of advanced glass fiber reinforced polymer (GFRP) products for
infrastructure applications. This acquisition expanded Owens Corning's
capabilities in the growing GFRP market.
- In 2021, PPG Industries, a global supplier of paints,
coatings, and specialty materials, announced a partnership with Creaky Corp to
develop new glass fiber materials for automotive and industrial applications.
This collaboration aims to improve the performance and sustainability of glass
fiber composites.
- In 2020, Jushi Holdings, a leading manufacturer of
fiberglass products, acquired PFG Fiber Glass Corporation, a manufacturer of
glass fiber products for the construction industry. This acquisition allowed
Jushi to expand its production capacity and market share in North America.
- In 2019, Nippon Electric Glass (NEG), a Japanese glass
manufacturer, announced the acquisition of PPG Industries' glass fiber business.
This acquisition expanded NEG's global presence in the glass fiber market and
allowed PPG Industries to focus on its core businesses.
- In 2020, Johns Manville, a leading manufacturer of
insulation and roofing products, acquired ITW Insulation Systems, a
manufacturer of insulation products for industrial applications. This
acquisition allowed Johns Manville to expand its product portfolio and
strengthen its position in the industrial insulation market.
- In 2019, AGY Holdings Corp., a global producer of glass
fiber yarns and high-strength glass fibers, was acquired by a private equity
firm, Platinum Equity. This acquisition allowed AGY to continue to expand its
global presence and develop new products in the glass fiber market.
- In 2020, Owens Corning and Chongqing Polycomp International
Corporation (CPIC), a leading manufacturer of glass fiber products in China,
formed a joint venture to manufacture and market glass non-woven products for
the Chinese composite market. This partnership allowed Owens Corning to expand
its presence in China and leverage CPIC's manufacturing expertise and
distribution network.
- In 2020, Owens Corning also acquired Guangde SKD New
Building Materials Co., Ltd., a Chinese manufacturer of glass fiber insulation
products for the residential and commercial building markets. This acquisition
allowed Owens Corning to strengthen its position in the growing Chinese
insulation market and expand its product portfolio.
- In 2021, Saint-Gobain, a global leader in building materials
and glass products, announced the acquisition of Continental Building Products,
a manufacturer of gypsum wallboard and finishing products. This acquisition
allowed Saint-Gobain to expand its presence in the North American building
materials market and diversify its product portfolio.
- In 2019, Nippon Electric Glass (NEG) and Owens Corning
announced a joint venture to produce glass fiber insulation products for the
Japanese residential and commercial building markets. This partnership allowed
both companies to leverage their respective strengths and resources to develop
new products and expand their market share in Japan.
In conclusion, glass mat material is a versatile and durable
material that is widely used in various industries. Its strength, resistance to
corrosion and chemicals, and ability to be molded into various shapes make it
an ideal choice for use in a variety of applications. Whether it is used in
construction, automotive, or marine industries, glass mat material is a
reliable and long-lasting material that delivers excellent performance.
1.
Research Sources
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detailed and related research methodology focussed on estimating the market
size and forecasted value for the given market. Comprehensive research
objectives and scope were obtained through secondary research of the parent and
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segments and sub-segments.
Research Methodology
1.1. Secondary Research
The secondary research study involves various sources and databases used
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from the demand and supply side, such as CEOs, VPs, directors, sales heads, and
marketing managers of tire 1,2, and 3 companies across the globe.
1.3. Data Triangulation
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1.4. In-House Verification
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1.5. Reporting
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