Published Date : 22 Nov 19 | Views: 118 | Industry : Chemical & Material
Unique
Properties of Glass Mat Drive the Growth of Construction & Infrastructure
Segment
Based on the
product, the global Glass Mat market is bifurcated into continuous filament and
chopped strands. Chopped strand mat is expected to witness substantial growth.
It is the most preferred choice in manufacturing composites. It is used in
industries across verticals such as transport, construction, industrial,
marine, and recreational among others.
Based on
applications, the global Glass Mat market is segregated into automotive & transport,
construction & infrastructure, marine, and industrial & chemical. The
construction & infrastructure segment is further projected to witness
growth. The unique properties of the product such as corrosion resistance,
strength, and better aesthetic value are expected to fuel its demand.
Rapid
Industrialization in Developing Countries Fuel Demand in Asia Pacific Region
The Glass Mat market
in China and India is expected to witness remarkable growth. This is due to
rapid industrialization and the huge requirement for composite material in
these countries. The market in developed regions of Europe and North America is
anticipated to grow on account of the presence of leading companies.
Market
Players are Focusing on New Product Launches and Enter Alliances to Improve
Market Share
Major companies
operating in the global Glass Mat market are Jushi group, Owens Corning, Saint,
Binani Industries, Gobain, CPIC, Taiwan Glass, Nippon Electric Glass, Jiangsu
Changhai, Nitto Boseki, Texas Fiberglass, Jiangsu Jiudin, and China Beihai.
Leading companies functioning in the market are entering into strategic
alliances with local distributors to tap into huge demand and to expand the
customer base. Market players are keen to focus on product launches,
expansions, and investments.
High
Demand in Chemical and Automotive Sectors to Propel the Market Growth
The Glass Mat market
is predicted to grow due to high demand in emerging markets in major end-use
industries such as chemical, construction, and infrastructure. The capacity of
the product to reduce weight and due to its higher aesthetic value than other
metals, the product is witnessing high demand. This has resulted in increased
usage in the vehicle and automotive sector leading to the growth of the
market.
For further information, check: https://www.qyrconsulting.com/reports/glass-mat-market