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Glass Mat Market Segmented By mat type such as Chopped Strand Mat, Continuous Filament Mat with binder type such as Emulsion Bonded Glass Mat, Powder bonded Glass Mat
Glass mat panels are moisture- and mold-resistant panels which are non-combustible and offer improved coated fiberglass mat to maximize the coverage of air/water barrier systems. Glass mats are designed for usage in under exterior claddings where gypsum products were conventionally used.
Glass mats have a strong lifespan and find a wide range of applications in construction as well as other industries. The primary function of a glass mat is to prevent active materials from shedding from the positive plate, thereby also preventing oxidation.
In term of applications, glass mats are majorly used in automobiles, motorcycles, wind blade production and industrial areas. Some of the exceptional properties of glass mat include better combustibility, flexural strength, linear expansion with moisture change, heat resistance, surface burning characteristics, etc.
Owing to these notable properties, glass mats are used in various areas, such as in drywall tape & accessories, flooring reinforcements, roofing & waterproofing, wall reinforcement and insulation and others.
The Global glass mat market is majorly being driven by the growth in construction and infrastructural activities worldwide. Rapidly increasing demand from industrial & chemical sector, especially in developing regions, will give a boost to the global glass mat market during the forecast period.
To reduce emission of harmful substances from fossil fuel energy sources, environmental agencies have created some regulations that indirectly push for higher usage of renewable energy sources. This, in turn, has led to higher demand for wind, as a form of energy.
Growth in wind energy market and thus, the subsequent increase in the production of wind turbine blades will ultimately create opportunities for the glass mat manufacturers. However, high prices and presence of alternatives will hamper the growth of global glass mat market during the forecast period
Geographically, the global glass mat market can be segmented into seven key regions: Japan, Middle East & Africa, Latin America, North America, Europe, China and South East Asia & Pacific. Rapidly increasing industrialization in emerging economies, such as Latin America and South East Asia & Pacific, will generate huge demand for glass mats during the forecast period.
Moreover, the entry of new composite materials in developing countries, such as India and China, is another factor that will push the growth of the glass mat market in South East Asia & Pacific region in the next few years.
The market for glass mats is well established in developed regions, such as North America and Europe, while South East Asia Pacific and Latin America are in the growth phase. In turn, emerging economies are estimated to provide high growth platforms for glass mat manufacturers during the forecast period.
The global glass mat market is expected to be fragmented due to the high presence of international and local market players. Some of the glass mat market participants identified across the value chain of the global glass mat market are ADFORS, Nippon Electric Glass, China Beihai Fiberglass, ushi Group Co., Ltd., Binani Industries Ltd, Advanced Materials Technology (Pty.) Ltd., Saint-Gobain ADFORS, Central Glass Co., Ltd., Jiangsu Jiuding New Material Co. Ltd and Texas Fiberglass Group, etc.
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It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.