Glass Mat Thermoplastic Market

Glass Mat Thermoplastic Market - Global Industry Insights,
Trends, Outlook, and Opportunity Analysis, 2018-2026
Glass mat thermoplastic consists of glass fiber and thermoplastic that are
blended together to produce intermediary compound. These are further
reinforced using long fibers with glass mat technology. The glass mat
thermoplastic material has numerous advantages such as elasticity, impact
resistance, resistance to corrosion, durability, and can prove as an alternative to
metals such as aluminum and steel, which are comparatively heavier. Glass mat
thermoplastic is witnessing increased acceptance owing to increase in use of
lightweight materials in automotive, electrical and electronics, and aerospace
industries, among others. Automotive industry is one of the major contributors
to increase in demand of lightweight and durable materials.
Glass mat thermoplastics provide high innovation potential with respect to
material properties, production, processing and ecological demands. Complex
parts can be produced in automotive and aerospace industries from glass mat
thermoplastic by integrating functional elements, which results in reduction of
assembly costs. Metals such aluminum and iron when replaced with glass mat
thermoplastic reduce the overall weight of the structure. Due to its lightweight
property and durability, the use of glass mat thermoplastic has increased
significantly in the electrical and electronics industry.
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The automotive industry is one of the largest end users of glass mat
thermoplastics. In automotive industry, glass mat thermoplastic is widely used
as underbody shields, front ends and seat structures. In addition to this,
government guidelines for technical rules include DIN standard in countries
such as Germany, recyclability, and ease of processing are some of the driving
factors that boost the growth of glass mat thermoplastic market. The use of glass
mat thermoplastic has increased rapidly in the consumer goods industry mainly
due to its ease of recycling. Glass mat thermoplastics can be easily molded into
complex geometries, without compromising on structural integrity. This
property is especially beneficial in the aerospace Industry, which has emerged
as a major end-use industry for glass mat thermoplastics in recent years.
High price is expected to be one of the restraining factors for the growth of glass
mat thermoplastic market over the forecast period. This is mainly attributed by
the complex process involved in production of glass mat thermoplastics.
However, constant research and development to find an alternative
manufacturing process for reduction in manufacturing cost is a key strategy
adopted by major players. Some of the major companies operating in the global
glass mat thermoplastic market include Cytec Solvay Group, BASF SE, Royal
DSM, Quadrant Plastic Composites, and Hanwha Advanced Materials.
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Glass Mat Thermoplastic Market report categorizes global market by product type, raw materials, and application - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016–2024