Glass mat thermoplastic is an easily moldable thermoplastic employed to create multiple components, majorly in the automotive industry. Glass mat thermoplastic exhibits several mechanical properties than injection molded reinforced thermoplastic due to its better residual length of the glass strands. It is majorly deployed as a substitute for steel and aluminum. They are available in the panel form and are also used in 3D structural component form. Moreover, they are lightweight material possessing low relative density, excellent hardness and rigidity at relatively low temperatures, and are extremely resistant to chemicals and moisture. These are durable materials with ease of recyclability. Furthermore, the demand for the glass mat thermoplastic material from the automobile and aeration industries leads to the market growth.
This report projects the trends and opportunities of the global glass mat thermoplastic market. This research study includes a qualitative & quantitative analysis with comprehensive research methodologies and reliable projections to understand the present overview and predict the market behavior during the forecast period.
The automotive application segment is expected to remain the largest end-use industry compared to other segments. Moreover, surge in government initiatives for higher fuel economy, recycling processes, and ease of processing are the major factors that supplement the market growth. In addition, the bumper beam accounts for the major automotive application and is expected to remain the largest automotive application during the forecast period. Advanced glass mat thermoplastic is the most widely used material, owing to its lightweight nature as compared to traditional glass mat thermoplastics, and is expected to augment the market growth.
The market has witnessed significant demand, owing to rise in utilization of the glass mat thermoplastic as a substitute to steel, aluminum, and plywood among industries, leading to market growth. The North American and European countries are predicted to register high growth rates due to surge in demand for the glass mat thermoplastic material from automobile, aerospace, and defense industries. However, the fluctuating prices of the glass mat thermoplastic material are expected to hamper the demand and inhibit the global market growth.
The global glass mat thermoplastic market is segmented based on material, application, and geography. Based on material, it is bifurcated as traditional GMT and advanced GMT. Based on application, it is categorized into automotive and non-automotive. Automotive is further divided into bumper beam, underbody system, seating structure, instrumental panel, spare wheel well, and others (hatchback door carrier and parcel shelf). Non-Automotive is further classified into consumer goods, aerospace & defense, electrical & electronics. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key market players in this sector include Royal DSM, BASF SE, Cytec Industries, Celanese Corporation, SABIC, JFE Chemical Corporation, Hanwha Advanced Materials, Quadrant Plastic Composites, and Dupont.
- This report provides a quantitative analysis of the current trends, estimations, and dynamics through 2016-2023, which is expected to assist in identifying the prevailing market opportunities.
- Major countries in each region are mapped according to the individual market revenue.
- The region-wise and country-wise glass mat thermoplastic market conditions are comprehensively analyzed in the report.
- Key players of the glass mat thermoplastic market are listed.
- This study evaluates the competitive landscape and value chain analysis to understand the competitive environment across geographies.
- An in-depth analysis of segmentation of the glass mat thermoplastic market within the market has been provided, which is expected to assist to understand the prevailing market opportunities.
Glass Mat Thermoplastic Market Key Segments
- Traditional GMT
- Advanced GMT
- Bumper Beam
- Underbody System
- Seating Structure
- Instrumental Panel
- Spare Wheel Well
- Others (Hatchback Door Carrier and Parcel Shelf)
- Consumers Goods
- Aerospace & Defense
- Electrical & Electronics
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA