According to the recent study the glass mat thermoplastic market is projected to reach an estimated $946.9 million by 2028, at a CAGR of 4.6% from 2022 to 2028. Growth in this market is primarily driven by the increasing use of glass mat thermoplastic in automotive and construction applications, increasing use for lightweight materials, recyclability, and ease of processing of GMT.
Browse 50 figures / charts and 48 tables in this 130 -page report to understand trends, opportunities and forecast in 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).
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“Transportation market is expected to remain the largest segment during the forecast period.”
Based on application, the glass mat thermoplastic market is segmented into transportation, and construction applications. Lucintel forecasts that the transportation market is expected to remain the largest segment due to increasing government mandates for higher fuel economy, recyclability, and ease of processing are the major driving forces that spur growth for GMT.
“Within the glass mat thermoplastic market, the traditional GMT segment is expected to remain the largest material type”
Based on material type the traditional GMT segment is expected to witness the highest growth over the forecast period due to its various mechanical properties like lower mass, recyclability, high productivity, and low tooling cost..
“Asia pacific will dominate the glass mat thermoplastic market in near future”
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.
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Major players of glass mat thermoplastic market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Quadrant AG/ Mitsubishi Chemical, Hanwha Advanced Materials, JFE Chemical Corporation are among the major glass mat thermoplastic providers.
This unique 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 https://www.lucintel.com/glass-mat-thermoplastic-market.aspx or [email protected]