The global glass mat market was valued at USD 1.25 billion in 2023 and is projected to reach USD 2.24 billion by 2030, registering a compound annual growth rate (CAGR) of 7.5% between 2024 and 2030. This growth is primarily driven by rising demand from diverse end-use sectors such as transportation, construction, and industrial applications over recent years.

Glass mats are extensively utilized in the automotive and aerospace industries; however, many manufacturers in these sectors are exploring alternative materials that offer comparable bending and tensile strength. This trend has accelerated the adoption of carbon fiber, which has somewhat limited the market expansion for glass mats. Additionally, industries sensitive to cost factors may avoid using glass mats due to their relatively high price, posing a constraint on overall market growth.

On the other hand, glass mats provide essential durability, strength, and performance needed for wind turbine blades operating under harsh environmental conditions. Consequently, growing investments in renewable energy, particularly wind energy, by governments worldwide are expected to boost demand for glass mats used in the manufacturing of wind turbine blades and other components.

Several inherent advantages of glass mats-including ease of use, rapid thickness build-up, and lower cost relative to other composite materials-are encouraging end-use industries to prefer glass mats over alternatives. Furthermore, increasing demand for lightweight yet robust and high-quality components is anticipated to further drive market growth.

One of the significant factors fueling the glass mat market is its growing application in chemical and construction sectors, attributable to properties such as flexibility, corrosion resistance, heat resistance, and light weight. Moreover, glass mats help prevent leakage when incorporated into binders and have a longer lifespan compared to substitutes. They are widely used in roofing, waterproofing, and flooring due to their resistance to mold, water, and superior mechanical strength.

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Key Market Trends & Insights:

• The Asia Pacific region is forecasted to witness the highest growth rate of 7.7% from 2024 to 2030.
• The U.S. dominated the North American glass mat market with a 79.3% revenue share in 2023.
• The chopped strand glass mat segment led the market by mat type, accounting for 62.7% of revenue in 2023.
• The stabilizer function segment is projected to grow at a CAGR of 7.6% from 2023 to 2030.
• The construction sector held the largest revenue share of 39.2% in 2023.

Market Size & Forecast:

• Market size in 2023: USD 1.25 billion
• Projected market size in 2030: USD 2.24 billion
• CAGR from 2024 to 2030: 7.5%
• Asia Pacific was the largest market in 2023

Key Players in the Glass Mat Market:

Leading companies include Johns Manville Corp. and Nippon Electric Glass Co., among others:

• Johns Manville Corp., founded in 1858, manufactures and sells commercial roofing, insulation products, nonwovens, and glass fibers for residential, commercial, and industrial sectors. It operates 44 manufacturing facilities across Europe and North America, with products categorized into insulation, commercial roofing, and engineered products.
• Nippon Electric Glass Co., established in 1944, specializes in manufacturing and sales of specialty glass products and glassmaking machinery. Its product portfolio is divided into electronics & information technology and performance materials & others.

Emerging players such as China Beihai Fiberglass Co., Ltd and China Jushi Co., Ltd are also gaining market presence:

• China Beihai Fiberglass Co., Ltd operates three factories producing fiberglass products like S-glass and E-glass mats in various forms, including continuous mat, stitched combo mat, and chopped strand mat. The company has a production capacity of approximately 380,000 tons of fiberglass roving, 66,000 tons of chopped strand mat, and 33,000 tons of woven roving.
• China Jushi Co., Ltd, a division of China National Building Material Company Limited, manufactures fiberglass and finished products used in building & construction, infrastructure, transportation, electrical & electronic, and sports & leisure industries.

Other prominent companies include Saint Gobain, Owens Corning, Bakelite Synthetics, Taiwan Glass Industrial Corp., Wbcomposites, and Composites One.

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Conclusion:

The global glass mat market is poised for steady growth through 2030, driven by expanding applications across transportation, construction, industrial, and renewable energy sectors. While cost sensitivity and competition from alternative materials like carbon fiber present challenges, the durability, performance, and cost-effectiveness of glass mats-especially in demanding environments such as wind turbine manufacturing-support robust demand. Continued technological advancements and increasing focus on lightweight, high-quality composites are expected to further propel market expansion, with Asia Pacific emerging as a key growth region.