Portland, OR -- (SBWIRE) -- 06/29/2017 -- Glass mat thermoplastic is an easily moldable thermoplastic employed to create multiple components, majorly in the automotive industry. Glass mat thermoplastic exhibits several mechanical properties than injection molded reinforced thermoplastic due to its better residual length of the glass strands. It is majorly deployed as a substitute for steel and aluminum. They are available in the panel form and are also used in 3D structural component form. Moreover, they are light weight material possessing low relative density, excellent hardness and rigidity at relatively low temperatures, and are extremely resistant to chemicals and moisture. 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 the market growth.
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The automotive application segment is expected to remain the largest end-use industry compared to other segments. Moreover, surge in government initiatives for higher fuel economy, recycling processes, and ease of processing are the major factors that supplement the market growth. In addition, the bumper beam accounts for the major automotive application and is expected to remain the largest automotive application during the forecast period. Advanced glass mat thermoplastic is the most widely used material, owing to its lightweight nature as compared to traditional glass mat thermoplastics, and is expected to augment the market growth.The market has witnessed significant demand, owing to rise in utilization of the glass mat thermoplastic as a substitute to steel, aluminum, and plywood among industries, leading to market growth. The North American and European countries are predicted to register high growth rates due to surge in demand for the glass mat thermoplastic material from automobile, aerospace, and defense industries. However, the fluctuating prices of the glass mat thermoplastic material are expected to hamper the demand and inhibit the global market growth.
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Glass Mat Thermoplastic Market Key Segments
By Material
- Traditional GMT
- Advanced GMT
By Application
Automotive
- Bumper Beam
- Underbody System
- Seating Structure
- Instrumental Panel
- Spare Wheel Well
- Others (Hatchback Door Carrier and Parcel Shelf)
Non-automotive
- Consumers Goods
- Aerospace & Defense
- Electrical & Electronics
By Geography
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- Spain
- UK
- Russia
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Australia
- Korea
- Rest of Asia-Pacific
LAMEA
- Brazil
- Turkey
- South Africa
- Rest of LAMEA