According to a new market report published by Lucintel, the future of the glass mat thermoplastic market looks promising with opportunities in transportation, and construction applications. The global glass mat thermoplastic market is expected to reach an estimated $842.4 million by 2027 with a CAGR of 6.9% from 2021 to 2027. The major growth drivers for this market are the increasing use of glass mat thermoplastic in automotive and construction applications, increasing use for lightweight materials, recyclability, and ease of processing of GMT.
In this market, traditional GMT (Glass Mat Thermoplastic) and advance GMT (Glass Mat Thermoplastic) are the various material types of glass mat thermoplastic. Traditional GMT is expected to remain the largest market by value and volume, mainly driven by its various mechanical properties like lower mass, recyclability, high productivity, and low tooling cost.
Within the global glass mat thermoplastic market, transportation will remain the largest end use segment and is also expected to witness the highest growth over the forecast period due to its increasing use in sports and passenger car due to increasing government mandates for higher fuel economy, recyclability, and ease of processing are the major driving forces that spur growth for GMT.
Asia Pacific (APAC) expected to remain the largest market and it is also expected to witness the highest growth over the forecast period due to the anticipated growth in the end user industries and increasing focus on lightweight thermoplastic composites.
Emerging trends, which have a direct impact on the dynamics of the glass mat thermoplastic industry, includes trend of switching from traditional GMT to lightweight reinforced thermoplastic, expanding with the new matrices, and improvement in existing products and development of new applications. Mitsubishi Chemical, Hanwha Advanced Materials, and JFE Chemical Corporation are among the major glass mat thermoplastic manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global glass mat thermoplastic market by application, material type, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Glass Mat Thermoplastic Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global glass mat thermoplastic market by application, material type, and region as follow:
By Application [Volume (Million Pounds) and Value ($M) shipment analysis for 2016 – 2027]:
Transportation
Bumper Beam
Underbody System
Seating Structure
Interior Headlines
Load Floor/Parcel Shelf
Instrument Panel
Hatchback Door Carrier
Spare Wheel Well
Others Automotive
Construction
Others
By Material Type [Volume (Million Pounds) and Value ($M) shipment analysis for 2016 – 2027]:
Traditional GMT
Advance GMT
By Region [Volume (Million Pounds) and Value ($M) shipment analysis for 2016 – 2027]:
North America
Europe
Asia Pacific
The Rest of the World
This 130-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link www.lucintel.com/glass-mat-thermoplastic-market.aspx helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the global glass mat thermoplastic market by application (transportation, construction, and others), material type (traditional GMT and advance GMT), and region (North America, Europe, and Asia Pacific & Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?