Market Research on Fiberglass Mat Market 2020 and Analysis to 2030

Prince

4 years ago

Fiberglass mat is made from glass continuous filaments of random orientation bonded together with a thermoset binder. These mats are available in a wide product range to optimize performance in varying closed mold applications. Fiberglass mats are compatible with unsaturated polyester, vinyl ester, polyurethane, and epoxy resins.
Fiberglass mat is a sheet form of fiberglass. It is the weakest reinforcement, but has multi-directional strength. Fiberglass mat is made up of chopped glass strands up to 2 inches long, held together with a binder soluble in polyester resin. It is used to inexpensively build up stiffness. Epoxy is not recommended for fiberglass mat. Fiberglass mat readily conforms to compound curves.

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In terms of application, the fiberglass mat market can be segmented into high & low pressure injection, infusion & compression molding, LNG, and others

Increase in new vehicle sales and rise in number of on-road vehicles in regions such as Asia Pacific, Latin America, and Middle East & Africa are estimated to propel the demand for fiberglass mat in these regions. This surge is apparent in Asia Pacific, which is becoming an automotive manufacturing hub.
Countries in Asia Pacific such as India, China, Japan, South Korea, Thailand, and Indonesia account for major share of the global car production. China is the leading producer of automobiles in the world. Production of cars is increasing at a rapid pace in India. These factors are projected to augment the demand for automotive, thereby boosting the demand for fiberglass mat in Asia Pacific during the forecast period.

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The global coronavirus outbreak is expected to pose severe challenges to the global fiberglass mat market. Fiberglass mat is primarily utilized in automotive applications. Decline in sale of automotive is estimated to restrain the fiberglass mat market in the near future. Extension of the lockdown in various countries across the world has led to supply chain disruptions. This is anticipated to hamper the fiberglass mat market in the near future.

Based on region, the global fiberglass mat market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Asia Pacific held major share of the global fiberglass mat market in 2019. Increase in automotive activities has boosted the demand for fiberglass mat in the region.
A few distributors and manufacturers of fiberglass mat operate in Latin America. The region relies on import from other countries in order to cater to the demand for fiberglass mat.

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The global fiberglass mat market is highly consolidated. Major players operating in the global fiberglass mat market include: