Glass Mat Market Size, Share & Trends Analysis Report By Mat Type (Chopped Strand, Continuous Filament), By End Use (Construction, Automotive, Marine), By Region, And Segment Forecasts, 2024 - 2030

Glass Mat Market Size & Trends

The global glass mat market size was estimated at USD 1.25 billion in 2023 and is expected to grow at a CAGR of 7.5% from 2024 to 2030. This growth is attributed to the increasing demand for the product in various end use industries such as transportation, construction, and industrial over the years. Glass mats possess various characteristics such as ease of use, builds thickness in no time, and inexpensive as compared to other composites. Such factors are driving end use industries to incline towards glass mat in place of other composites. In addition, market is witnessing increased demand for lightweight components comprising of solidity and high quality, this is further expected to fuel market growth.

One of the drivers for glass mat market is rising utilization of glass composites in chemical and construction sector on account of its properties including flexibility, corrosion & heat resistance, and lightweight. Furthermore, product helps in preventing leakage of material when incorporated into binders and last longer as compared to its substitutes. In addition to this, glass mats are extensively being used in production of roofing, waterproofing, and flooring due to their mold & water resistance and superior mechanical strength.

Product is highly used in automotive and aerospace industry; however, many automotive and aerospace manufacturers are in search of alternative material that possess same bending and tensile strength. This has propelled use of carbon fiber, thereby restricting market growth over the years. In addition to this, industries which are price sensitive may restrict the use of glass mats owing to its high cost. This is further expected to act as a restraint in market growth.

Moreover, glass mats offer required durability, performance, and strength which is necessary for wind turbine blades at harsh environment conditions. Therefore, increasing investment in renewable energy sources such as wind energy by government of various countries is expected to drive demand for glass mats for the production of wind turbine blades and several other components.  

Mat Type Insights

Chopped strand glass mat dominated the market and accounted for a revenue share of 62.7% in 2023. This is due to its strength, versatility, and rising applications across various industries. Chopped strand offer various advantages, including corrosion resistance, excellent reinforcement properties, and lightweight characteristics, making it preferable choice for construction, automotive, industrial, and marine applications. With ongoing advancements in composite materials and manufacturing processes, there is a rising trend towards lightweighting in automotive and aerospace industries, where chopped strand glass mat plays a vital role in achieving strength and reduced weight. These factors are expected to fuel its demand over the forecast period.

The demand for continuous filament glass mat is anticipated to grow on account of its superior mechanical properties, such as high tensile strength and stiffness, compared to chopped strand. Continuous filament also provides excellent dimensional stability, making it ideal for precise manufacturing processes such as filament winding and pultrusion. In addition, as industries continue seeking materials to enhance product performance and efficiency, the demand for continuous filament is expected to rise in the coming years.

End Use Insights

On the basis of application, glass mat market is segmented into construction, automotive, industrial, and marine. Among these, construction dominated the market with the revenue share of 39.2% in 2023 and is further expected to grow at a fastest rate over forecast period. Glass mats find many applications in construction sector such as roofing, wall covering, insulation, and structural components. Product is used in construction sector owing to its resistance to fire and moisture and superior strength. Furthermore, glass mats help in enhancing the overall performance of construction materials which helps in maintaining efficiency and safety of a building.

Application of glass mats in automotive end use is anticipated to grow at a significant rate over coming years owing to its lightweight characteristics which helps in reducing the overall weight of a vehicle. Reduced weight results in fuel efficiency and low carbon emissions but at the same time, the product helps in maintaining the safety and strength of vehicle structure. In addition, with the increasing production of electric vehicles the demand for glass mats is expected to grow to meet required properties in component manufacturing.   

Regional Insights

The glass mat market in North America is growing at a rate of 7.4% over the forecast period. This growth is attributed to the growing emphasis on construction and infrastructure renewal projects across the region. The demand is driven by the need for sustainable building materials. Glass mat's properties, such as durability, strength, and resistance to corrosion, make it a preferred choice for various construction applications, including roofing, wall panels, and insulation.

U.S. Glass Mat Market Trends

The U.S. glass mat market dominated the North America market with a revenue share of 79.3% in 2023. The demand is driven by country's growing automotive production which is witnessing the shift towards the usage of lightweight materials to improve fuel consumption and meet stringent emission standards. Glass mat is utilized in composite vehicle components due to its lightweight properties and ability to enhance structural integrity. This trend is expected to drive the demand for product in the U.S.

Europe Glass Mat Market Trends

The glass mat market in Europe is expected to grow significantly over the forecast period. This is due to stringent regulations and standards promoting energy efficiency and sustainability in the construction and manufacturing sectors. The product is known for its excellent thermal insulation properties and durability, which align with the requirements, leading to increased adoption in building insulation and roofing applications.  

Asia Pacific Glass Mat Market Trends

The demand for glass mats in Asia Pacific is expected to grow at a higher rate of 7.7% from 2024-2030. Rapid urbanization and industrialization in emerging economies such as China and India are driving construction activities. In addition, the manufacturing sector in the region, including aerospace, automotive, electronics, and marine, is rapidly expanding. This is expected to create opportunities for glass mats that provide corrosion resistance and high strength for various applications, such as marine structures and aircraft components. These factors are expected to fuel the demand for the product in the coming years.

Key Glass Mat Company Insights

Some of the key players operating in the market include Johns Manville Corp., and Nippon Electric Glass Co.:

• Johns Manville Corp. is involved in manufacturing and sales of commercial roofing, insulation products, and nonwovens and glass fibers for various applications including residential, commercial, and industrial sectors. Company was established in 1858 and operates around 44 manufacturing facilities across Europe and North America. It has bifurcated its product portfolio under three main categories, i.e., insulation, commercial roofing, and engineered products.

• Nippon Electric Glass Co. was incorporated in 1944 and is involved in sales and manufacturing of specialty glass products and glassmaking machineries. Its product portfolio is divided into two categories electronics & information technology and performance materials & others.

China Beihai Fiberglass Co., Ltd and China Jushi Co., Ltd are some of the emerging participants in market.

• China Beihai Fiberglass Co., Ltd operates with 3 factories in China which are involved in production of fiberglass products such as S-glass & E-glass fiberglass mats of several types including continuous mat, stitched combo mat, and chopped strand mat, among others. Furthermore, company has the ability to produce around 3,80,000 tons of fiberglass roving, 66,000 tons of fiberglass chopped strand mat, and 33,000 tons of fiberglass woven roving.

• China Jushi Co., Ltd is a fiberglass manufacturing division of China National Building Material Company Limited. It is involved in production of fiberglass and its finishes products which finds application in building & construction, infrastructure, transportation, electrical & electronic, and sports & leisure industries.

Recent Developments

• In November 2022, Saint Gobain started the construction of its USD 167 million glass mat facility at the CertainTeed Roofing campus in North Carolina, U.S. This initiative will support the rising customer base in the Southeast region of the U.S. and help expand its presence in key markets.

Glass Mat Market Report Scope

Global Glass Mat Market Segmentation

This report forecasts revenue growth at regional & country levels and provides an analysis of the industry trends in each of the segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global glass mat market on the basis of mat type, end use, and region:

• Mat Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Chopped Strand

  • Continuous Filament

• End Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Construction

  • Automotive

  • Industrial

  • Marine

  • Other End Use

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa