Glass Mat Thermoplastic Market : Size, Growth, Regional Analysis, And Market Area




Glass mat thermoplastic is a thermoplastic that can be easily moulded and is used to make a variety of components, primarily in the automotive industry. Because of the longer residual length of the glass strands, glass mat thermoplastic has better mechanical properties than injection moulded reinforced thermoplastic. It is primarily used as a replacement for steel and aluminium. They are available in panel form as well as 3D structural component form. Furthermore, they are a lightweight material with a low relative density, excellent hardness and rigidity at low temperatures, and are chemical and moisture resistant. 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 market growth.

When compared to other end-use industries, the automotive application segment is expected to remain the largest. Furthermore, a surge in government initiatives for increased fuel economy, recycling processes, and ease of processing are major factors that supplement market growth.

Furthermore, the bumper beam is the most important automotive application and is expected to remain the most important automotive application throughout the forecast period. Because of its lightweight nature when compared to traditional glass mat thermoplastics, advanced glass mat thermoplastic is the most widely used material and is expected to drive market growth.

The Glass mat thermoplastic market has seen significant demand as a result of the increased use of glass mat thermoplastic as a substitute for steel, aluminium, and plywood in various industries, resulting in market growth. The North American and European economies are expected to grow rapidly due to increased demand for glass mat thermoplastic material from the automotive, aerospace, and defence industries. The fluctuating prices of the glass mat thermoplastic material, on the other hand, are expected to stymie demand and slow global market growth.

The global glass mat thermoplastic market is classified into three segments: material, application, and geography. It is divided into two types based on material: traditional GMT and advanced GMT. It is classified into two types based on application: automotive and non-automotive.

Automobiles are further classified as bumper beam, underbody system, seating structure, instrument panel, spare wheel well, and so on (hatchback door carrier and parcel shelf). Non-automotive is further subdivided into consumer goods, aerospace and defence, and electrical and electronics. Geographically, it is examined in North America, Europe, Asia-Pacific, and Latin America and The Caribbean.

Royal DSM, BASF SE, Cytec Industries, Celanese Corporation, SABIC, JFE Chemical Corporation, Hanwha Advanced Materials, Quadrant Plastic Composites, and Dupont are among the key market players in this sector.

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