Fiberglass Mat Market to grow by USD 2.29 Billion from 2024-2028, driven by construction industry growth and AI-powered market transformation – Technavio

NEW YORK, Oct. 28, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global fiberglass mat market size is estimated to grow by USD 2.29 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.8%  during the forecast period. Growth of construction industry is driving market growth, with a trend towards increasing number of strategic partnerships by market vendors.However, rising demand of viable alternatives to fiberglass mats  poses a challenge.Key market players include 3B the fiberglass Co., 3M Co., BASF SE, Berkshire Hathaway Inc., Canadian Mat Systems Inc., China Beihai Fiberglass Co. Ltd., China Jushi Co. Ltd., Compagnie de Saint-Gobain S.A., Huatek New Material Inc., Jiangsu Changhai Composite Materials Holding Co. Ltd, Nippon Electric Glass Co. Ltd., Nitto Boseki Co. Ltd., Owens Corning, Primex Industries, Shanghai Hoprime Industrial Co. Ltd., Valmieras Stikla Skiedra AS, Yuyao Feitian Fiberglass Co. Ltd., and Zhejiang Weitong Composite Co. Ltd.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Market Driver

The global fiberglass mat market is experiencing a significant trend of strategic partnerships and acquisitions among key players. For instance, a roofing products company recently acquired a fiberglass mat manufacturing facility from Owens Corning in Williamsport, Maryland. This acquisition is a strategic move to boost production capacity for fiberglass mats, crucial components in asphalt roofing shingles manufacturing. By integrating this facility, the company aims to improve customer service and streamline raw material supply chains. This acquisition will increase the company’s vertical integration in 2024, enabling more control over raw material supply and contributing to growth, workforce expansion, and local economy. Strategic partnerships and acquisitions are expected to continue in the fiberglass mat market, allowing companies to enhance operational efficiencies, reduce costs, and expand product offerings. This industry trend signifies a broader consolidation and collaboration effort to ensure sustainable growth and competitive advantage. 

The Fiberglass market is experiencing significant growth due to increasing demand in various industries. In electrical devices, fiberglass mat is used for insulation. For fuel-efficient vehicles, it’s used in panel assemblies and crash protection systems. In the marine sector, fiberglass mat is essential for boat building. Emission regulations drive the use of fiberglass in zero-emission transport, especially in electric cars. E-glass and specialty glass are popular types used in building and construction, consumer goods, and interior design. OEMs in transportation sector prefer lightweight fiberglass mat like needle and combo types for surface bonding, offering low resin consumption, air removal, and corrosion resistance. Rapid resin impregnation and lightweight properties make fiberglass an ideal choice for the transportation industry. Companies like 3B Fiberglass and FiberCore dominate the market. Overall, the fiberglass market continues to expand in construction, transportation, and various industries, driven by trends towards lightweight materials and emission regulations. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

 Market Challenges

• The global fiberglass mat market is experiencing a notable challenge due to increasing demand for alternatives with superior performance characteristics. Fiberglass cloth, or woven roving, offers consistent tensile strength of 300-500 MPa and excellent dimensional stability, making it ideal for high-performance applications. In contrast, fiberglass mats, or chopped strand mats, have lower tensile strength (100-200 MPa) due to randomly oriented glass fibers. Meeting diverse project needs while competing with fiberglass cloth’s superior mechanical performance is a significant challenge for the fiberglass mat market. Innovation and development of enhanced fiberglass mat properties or new alternatives that match or surpass fiberglass cloth’s performance are essential to market growth.
• The Fiberglass Mat market faces challenges in various industries such as Wind Energy, Aerospace and Defense, Marine, Electrical and Electronics, and Construction. In Wind Energy, the demand for lightweight and durable parts for Wind Turbine Blades is high, but raw material prices pose a significant challenge. In Aerospace and Defense, applications include Radomes, Fairings, and Wingtips, requiring chemical stability and high-performance insulation. In the Marine industry, Fiberglass is used for Panels, Insulation, and Roofing Materials, while in Electrical and Electronics, it’s used for Circuit Boards and Electrical Insulation. In Construction, Fiberglass is used for Thermal Insulation and Energy Consumption reduction in Residential projects. Raw materials like Glass Wool, Roving, Chopped Strand, Silica Sand, Soda Ash, and Limestone are essential. The market’s growth depends on the demand for Lightweight Composites in Automotive Sales, Smart Infrastructure, Energy-Efficient Buildings, Renovation, and Remodeling projects.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview 

This fiberglass mat market report extensively covers market segmentation by  

1. End-user 

• 1.1 Commercial
• 1.2 Residential

Type 

• 2.1 Chopped strand mat
• 2.2 Air laid mat

Geography 

• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Commercial-  The Fiberglass Mat market is experiencing steady growth due to its versatility and durability. Businesses value its lightweight and strong properties, making it ideal for various industries such as automotive, construction, and wind energy. Manufacturers continue to innovate, developing new applications and improving production methods to meet increasing demand. Fiberglass Mats provide cost-effective and efficient solutions for businesses seeking high-performance materials.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

Fiberglass mats are essential components in various industries, including construction, transportation, aerospace and defense, marine, wind energy, electrical and electronics, and more. These mats come in different types, such as needle fiberglass mats and combo fiberglass mats, which offer unique benefits. Needle fiberglass mats have needles embedded in the mat, allowing for better wet-out and reduced resin consumption. Combo mats, on the other hand, have a woven layer of roving on one side and a mat layer on the other, providing both strength and flexibility. Fiberglass mats are widely used in marine applications for boat hulls and decks, as well as in construction for insulation, roofing materials, and durable parts. They are also used in surface bonding and air removal processes. Fiberglass mats are made from fiberglass, which is a lightweight and chemically stable material. The production process involves the use of silica sand, soda ash, and limestone. The resulting mats offer excellent chemical stability and are ideal for use in aircraft, boats, automobiles, electronic goods, and storage tanks. Fiberglass mats are essential in the fiberglass market, which is expected to grow significantly due to their use in various industries, including construction, transportation, and aerospace and defense. They are used in panels, insulation, and durable parts, among other applications.

Market Research Overview

Fiberglass mat is a versatile composite material used in various industries for its unique properties. It comes in two main types: needle fiberglass mat and combo fiberglass mat. The mat is made by weaving glass fibers into a mesh and then impregnating it with resin. In the realm of interior design, fiberglass mats are used for surface bonding due to their excellent chemical stability and resistance to corrosion. They consume less resin than other methods, making them cost-effective. The lightweight nature of fiberglass makes it an ideal choice for the transportation sector, including electric cars, where weight reduction is crucial for increasing energy efficiency. In the construction industry, fiberglass mats are used for insulation, panels, and roofing materials, providing durability and energy efficiency. Fiberglass is also widely used in wind energy for manufacturing wind turbine blades, radomes, fairings, and wingtips. It’s also a popular choice in the aerospace and defense industry for producing lightweight, durable parts such as circuit boards, electrical insulation, and structural components. Moreover, fiberglass mats are used in the electrical and electronics industry for insulation materials and panels, providing excellent insulation and resistance to electrical currents. In the marine sector, fiberglass is used for boat hulls, decks, and other structural components due to its resistance to water and chemicals. Fiberglass mat is also used in renewable energy applications, including solar panels and thermal insulation, as well as in the production of recycling technologies and zero-emission transport. The raw materials used to make fiberglass mats include silica sand, soda ash, and limestone, which are chemically stable and provide excellent insulation properties. The fiberglass market is vast and diverse, with applications ranging from consumer goods and OEMs to smart infrastructure and energy-efficient buildings. With the increasing focus on reducing energy consumption and carbon dioxide emissions, the demand for lightweight, durable, and recyclable materials like fiberglass is expected to grow. However, the fiberglass market is also influenced by raw material prices and emission regulations, which can impact the cost and availability of fiberglass mats. Despite these challenges, the future of fiberglass looks bright, with ongoing research and development in new applications and technologies.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

• End-user
• Commercial
• Residential
• Type
• Chopped Strand Mat
• Air Laid Mat
• Geography
• North America
• Europe
• APAC
• Middle East And Africa
• South America

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: [email protected]

Website: www.technavio.com/

SOURCE Technavio

Go to Source