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Increasing Demand in building and construction sector for glass mats are key factors of Industry Revenue Growth During Forecast Period
NEW YORK CITY, NEW YORK, UNITED STATES, May 12, 2022 /EINPresswire.com/ -- The global glass mat market size was significantly robust in 2020 and is expected to register a robust revenue CAGR over the forecast period. Increasing application of glass mats from building and construction sector, growing demand for lightweight parts and components, and rapid progress of industrial and chemical industries in emerging economies are boosting demand for glass mats and are key factors expected to drive market revenue growth over the forecast period. In addition, growing awareness about composite materials and rapid adoption of these materials in several end-use industries are some other key factors expected to fuel revenue growth of the market going ahead.
Glass mats are made from randomly sized glass fibers and have high tensile strength, provide protection against corrosion, and improve aesthetics with superior finish. Glass mats have been extensively used in numerous end-use industries such as construction and building, automotive, and chemical, among others. Chopped strand mats are made from randomly oriented glass fibers and provide robust strand integrity, enhanced wettability, and are comparatively less expensive. Absorbed glass mat is a sealed lead-acid battery that uses saturated absorbent glass mat instead of liquid or gelled electrolyte. Glass mats protect the ultra-thin lead plates in the battery and since they can conform to complex shapes, more glass mat and lead can be incorporated into one battery. Glass mats boost battery power, provide long life as compared to regular flood battery, make battery non-hazardous, and can be easily shipped. This has boosted demand for glass mats in automotive industry and this is expected to further contribute to revenue growth of the market going ahead.
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The key players in the global Glass Mat optical brighteners market include: Owens Corning, Jushi Group Co. Ltd., CPIC, Binani Industries Limited, Saint-Gobain, Taiwan Glass, CPIC, Nippon Electric Glass, Nitto Boseki, China Beihai, Jiangsu Changhai, Texas Fiberglass, and Jiangsu Jiuding.
Glass mats are durable and have longer lifespan and this has boosted its application in construction and other end-use industries. Glass mat prevent materials from leaking or shedding. Glass mats are highly flexible, have higher heat and moisture resistance, are non-combustible, and fire-resistant. They have high mechanical strength and show resistance against water and mold, which has increased its usage in applications such as flooring, roofing and waterproofing, insulation, and automobiles, among others. As a result, demand from industrial, chemical, and automotive sectors across the globe has increased significantly and this is a key factor expected to contribute to revenue growth of the market going ahead.
High costs associated with high-quality glass mat and increasing availability and use of other alternatives such as glass fibers are some key factors expected to restrain market growth to a significant extent over the forecast period.
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of type, ingredient type, application and regional analysis.
Mat Type Outlook (Revenue, USD Billion; 2018-2028)
Continuous Filament Mat Chopped Strand Mat Binder Type Outlook (Revenue, USD Billion; 2018-2028)
Emulsion Bonded Glass Mat Powder Bonded Glass Mat
End-Use Industry Outlook (Revenue, USD Billion; 2018-2028)
Construction & Infrastructure Automotive Industrial & Chemical Marine Sports & Leisure Others
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Regional Outlook (Revenue, USD Billion; 2018-2028)
North America Europe Asia Pacific Latin America Middle East & Africa
Key questions covered in the global Glass Mat market report:
What is the expected market size of the global Glass Mat market during the forecast period? What factors are expected to hamper global Glass Mat market growth over the forecast period? What key factors are expected to drive global revenue growth between Forecast Period? Which application segment is expected to dominate other application segments over the forecast period? Which region is expected to dominate in terms of revenue during the forecast period? What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis? Which leading players are operating in the global Glass Mat market?
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