Global Glass Mat Thermoplastic Market Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Glass Mat Thermoplastic Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global glass mat thermoplastic market report has been segmented on the basis of raw material, product type, application, and region.
Global Glass Mat Thermoplastic Market: Overview
Glass mat thermoplastic is made by compression or injection molding in order to develop a semi-finished final product in the form of panels. This thermoplastic can be used for 3D structural components and as an alternative to steel and aluminum. Glass mat thermoplastics as compared to injection molded reinforced thermoplastic provides better mechanical properties owing to its higher length of glass strands. These type of thermoplastics are durable and lightweight with relatively low density, excellent impact resistance, and rigidity.
Global Glass Mat Thermoplastic Market: Dynamics
Rising demand for lightweight vehicles coupled with growing automotive industry, are major factors expected to drive growth of the global glass mat thermoplastic market over the forecast period. In addition, increasing demand for glass mat thermoplastic in aerospace & defense owing to its properties such as high tensile strength, corrosion resistant, flexibility, and others, is another factor estimated to support revenue growth of the target market. Moreover, increasing use of these thermoplastics in construction, consumer goods, and electronics and electrical applications, owing to its durability, lightweight, and other properties, which is anticipated to boost revenue growth of the glass mat thermoplastic market over the forecast period.
However, increasing raw material prices is a factor which may hamper growth of the target market over the forecast period.
Increasing R&D and investments in aerospace & defense application is expected to create a lucrative opportunity for manufacturers, and is expected to drive revenue growth of the target market over the forecast period.
Global Glass Mat Thermoplastic Market: Segment Analysis
On the basis of raw material, the polypropylene segment is estimated to account for significant revenue share in the target market. Among product type, the advanced glass mat thermoplastic segment is expected to register significant growth rate in the target market over the long run. Among application, the automotive segment is anticipated to witness highest revenue share contribution in the target market in the next coming years, owing to its utilization in manufacturing of spare wheel well, bumper beams, interior headliners, seating structures, and others.
Global Glass Mat Thermoplastic Market: Regional Analysis
The market in Asia Pacific is expected to hold major share contribution in terms of value and volume and is expected to dominate the global glass mat thermoplastic market, owing to increasing demand of these thermoplastics in various end-use industries such as automobile & transportation, electrical & electronics, and others in countries in the region. North America glass mat thermoplastic market is anticipated to witness moderate revenue growth in the target market over the forecast period. Growing demand for automobiles and increasing government initiatives in aerospace & defense in countries in the region, are among some factors expected to drive revenue growth in the North America glass mat thermoplastic market over the forecast period.
Global Glass Mat Thermoplastic Market Segmentation:
Segmentation by Raw Material:
- Polypropylene (PP)
- Polyamide (PA)
- Thermoplastic Polyester (TPP)
Segmentation by Product Type:
- Traditional Glass Mat Thermoplastic
- Advanced Glass Mat Thermoplastic
Segmentation by Application:
- Automobile & Transportation
- Aerospace & Defense
- Electrical & Electronics
- Consumer Goods
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- Quadrant AG (A Subsidiary of Mitsubishi Chemical Corporation)
- DowDuPont Inc.
- Koninklijke DSM N.V.
- Saudi Basic Industries Corporation
- BASF SE
- Celanese Corporation
- Koninklijke Ten Cate NV
- Lanxess AG
- Hanwha Chemical Corporation
- JFE Chemical Corporation
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