Glass Mat Material Market

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.