Published Date : 22 Nov 19 | Views: 29 | 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