Glass Mat Thermoplastic Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

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Glass Mat Thermoplastic Market- Global Industry
Insight, Trends, Outlook, and Opportunity
Analysis 2018-2026

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REPORT DESCRIPTION
Glass Mat Thermoplastic Market Overview
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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REPORT DESCRIPTION

• Glass Mat Thermoplastic Market Taxonomy
• On the basis of raw materials, the global market
  is classified into
• Thermoplastic polyester (TPP)
• Polypropylene (PP)
• Polyamide (PA)
• On the basis of application, the global market is
  classified into
• Aerospace and Defense
• Consumer goods
• Electrical and Electronics
• Automotive
• Transportation
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REPORT DESCRIPTION
Glass Mat Thermoplastic Market Outlook
Increasing Demand for Lightweight Materials to be
the Major Market Driver Asia Pacific and North
America are the largest markets for glass mat
thermoplastics, Asia Pacific poised to be the
fastest growing market over the forecast period.
This is mainly attributed to the anticipated
growth of various end-use industries such as
automotive and electronics, especially in
emerging economies such as China and India.
According to India Brand Equity Foundation
(IBEF)a trust established by the Department of
Commerce, Ministry of Commerce and Industry,
Government of Indiathe automotive industry in
India is expected to be valued at US 300 billion
by 2026. In addition to this, rapidly increasing
focus on lightweight thermoplastic composites in
the automobile sector is expected to augment
demand for glass mat thermoplastics. 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. 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.. To
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