The global fiberglass mats market size is valued at USD 1.25 billion in 2023 and is expected to grow at a CAGR of 7.5% from 2024 to 2030. The growth is attributed to the increasing demand for the product over the years from various end-use industries such as transportation, construction, and industrial sectors. Compared to other composite materials, fiberglass mats are easy to use, gain thickness quickly, and are inexpensive. These factors are encouraging end-use industries to use fiberglass mats instead of other composite materials. Furthermore, the growing demand for durable and high-quality lightweight components is expected to further fuel the market growth.
One of the driving factors for the growth of the glass fiber mats market is the growing use of glass composites in the chemical and construction industries due to properties such as flexibility, corrosion and heat resistance, and light weight. In addition, the product helps prevent leakage of the material when added to the adhesive and lasts longer than its alternatives. In addition, glass fiber mats are widely used in the production of roofing, waterproofing and flooring due to their resistance to mold and water, as well as excellent mechanical strength.
The products are widely used in the automotive and aerospace industries; however, many automobile and aerospace manufacturers are looking for alternative materials with equivalent bending and tensile strength. This has led to the use of carbon fiber, thereby limiting the market growth over the years. In addition, price-sensitive industries may limit the use of fiberglass mats due to high costs. This is also expected to act as a restraining factor for the market growth.
In addition, fiberglass mats provide the durability, performance, and strength required by wind turbine blades in harsh environmental conditions. Thus, increasing government investment in renewable energy sources such as wind power is expected to drive demand for fiberglass mats in the production of wind turbine blades and a range of other components.
Chopped glass mat dominated the market with a revenue share of 62.7% in 2023. This is due to its high strength, versatility, and growing use in various industries. Chopped glass mat offers several advantages including corrosion resistance, excellent reinforcement properties, and light weight, making it a top choice for architectural, automotive, industrial, and marine applications. With the advancement of composite materials and manufacturing processes, the trend towards weight reduction in the automotive and aerospace industries is becoming increasingly evident, and chopped glass mats play a significant role in achieving strength and weight reduction. These factors are expected to drive demand during the forecast period.
Demand for continuous glass fiber mats is expected to grow due to their superior mechanical properties compared to chopped strands, such as high tensile strength and stiffness. Continuous filaments also have superior dimensional stability, making them ideal for precision manufacturing processes such as winding and pultrusion. Additionally, as the industry continues to look for materials to improve productivity and product efficiency, demand for continuous filament yarns is expected to increase in the coming years.
Based on application, the glass fiber mat market is segmented into architectural, automotive, industrial, and marine. Among these, construction dominates the market with a revenue share of 39.2% in 2023 and is expected to grow at the fastest rate during the forecast period. Glass fiber mats find wide applications in the construction sector, such as roofing materials, wall cladding, insulation, and structural elements. The product is used in the construction sector due to its fire resistance, moisture resistance, and high strength. Additionally, glass fiber mats help improve the overall performance of building materials, thereby helping maintain the efficiency and safety of the building.
The use of fiberglass mats in the automotive industry is expected to increase significantly in the coming years due to their lightweight properties, which help reduce the overall weight of the vehicle. Weight reduction improves fuel efficiency and reduces carbon emissions, while helping to maintain the safety and strength of the vehicle structure. In addition, with the growth of electric vehicles, the demand for fiberglass mats is expected to increase to meet the required properties in the production of components.
The North American fiberglass mat market is expected to grow at a CAGR of 7.4% during the forecast period. The growth is attributed to the growing focus on construction and infrastructure renovation projects in the region. The demand is driven by the need for eco-friendly building materials. The properties of fiberglass mat such as durability, strength, and corrosion resistance make it the best choice for various building applications including roofing, siding, and insulation.
The US fiberglass mat market dominates the North American market with a revenue share of 79.3% in 2023. The demand is driven by the growth of automobile production in the country, which is shifting to lightweight materials to improve fuel economy and meet stringent emission standards. Fiberglass mats are used in composite vehicle components due to their lightweight properties and ability to enhance structural integrity. This trend is expected to drive demand for the product in the US.
The European glass fiber mat market is expected to witness significant growth during the forecast period. This is due to stringent regulations and standards that promote energy efficiency and sustainability in the construction and manufacturing industries. The product, known for its excellent thermal insulation properties and durability, meets the requirements, leading to its increasing use in building insulation and roofing applications.
The demand for glass fiber mats in the Asia Pacific region is expected to grow at a faster rate of 7.7% during the period 2024-2030. Rapid urbanization and industrialization in emerging economies such as China and India are driving construction activities. In addition, the region’s manufacturing industries, including aerospace, automotive, electronics, and shipbuilding, are growing rapidly. This is expected to create opportunities for glass fiber mats, which provide corrosion resistance and high strength for various applications such as marine structures and aircraft components. These factors are expected to drive demand for these products in the coming years.
Key players in the market include Johns Manville Corp. and Nippon Electric Glass Co.:
Johns Manville Corp. manufactures and markets commercial roofing and insulation products, as well as nonwovens and fiberglass for a variety of residential, commercial and industrial applications. Founded in 1858, the company has approximately 44 manufacturing facilities in Europe and North America. The company’s product range is divided into three main categories: insulation, commercial roofing and engineered products.
Nippon Electric Glass Co., Ltd. was founded in 1944 and is engaged in the sales and production of special glass products and glass-making equipment. The company’s product range is divided into two categories: “Electronics and Information Technology” and “Production Materials and Others”.
China Beihai Fiberglass Co., Ltd. and China Jushi Co., Ltd. are some of the new players in the market.
China Beihai Fiberglass Co., Ltd. has 3 factories in China, which mainly produce fiberglass products such as S-glass mat and E-glass mat, including various types of mats such as continuous mat, needled composite mat and chopped strand mat. In addition, the company has the capacity to produce about 380,000 tons of glass roving, 66,000 tons of chopped strand mat and 33,000 tons of braided glass roving.
China Jushi Co., Ltd. is the glass fiber manufacturing division of China National Building Materials Co., Ltd. The company produces glass fiber and finished products for a wide range of applications in the construction, infrastructure, transportation, electrical and electronics, and sports and leisure industries.
Below are the leading companies in the glass mat market. Together, these companies hold the largest market share and set industry trends.
United States; Canada; Mexico; United Kingdom; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Argentina
China Beihai Fiberglass Co., Ltd.; China Jushi Co., Ltd.; Jones Manville Corporation; Nippon Electric Glass Co., Ltd.; Saint-Gobain; Owens Corning; Bakelite Synthetics; Taiwan Glass Industry Co., Ltd.; Wbcomposites; Composites One
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The report forecasts revenue growth at the regional and country levels and analyzes industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global glass mat market by mat type, end use, and region:
b. The global glass fiber mat market size is valued at US$ 1.25 billion in 2023 and is expected to reach US$ 1.36 billion in 2024.
b. The global glass fiber mat market is expected to grow at a compound annual growth rate (CAGR) of 7.5% during 2024–2030 and reach USD 2.24 billion by 2030.
b. Chopped glass fiber mats are expected to account for the largest share of revenue in 2023, accounting for over 62.7%, owing to their strength, versatility and growing application in various industries.
b. Major players in the fiberglass mat market include China Beihai Fiberglass Co., Ltd., China Jushi Co., Ltd., Johns Manville Corp., Nippon Electric Glass Co., Ltd., Saint-Gobain, Owens Corning, Bakelite Synthetics, Taiwan Glass Industry Co., Ltd., Wbcomposites and Composites One.
b. The key factors driving the market growth are the rapid growth in various end-use industries such as construction, aerospace, marine and automotive, and the growing demand for lightweight materials.
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