According to the report, the "Glass Mat Market" was valued at $1.3 billion in 2022, and is estimated to reach $2.7 billion by 2032, growing at a CAGR of 7.7% from 2023 to 2032.  

Allied Market Research published a report, titled, "Glass Mat Market by Mat Type (Chopped Strand Glass Mat and Continuous Filament Glass Mat), Binder Type (Powder Bonded Glass Mat and Emulsion Bonded Glass Mat ), Manufacturing Process (Wet-laid, Dry-laid, and Others), Application (Drywall Tape and Accessories, Flooring Enforcement, Wall Reinforcement, Roofing Waterproofing, and Insulation), and End-use (Construction, Automotive, Industrial, Marine, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032".  

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Prime determinants of growth 

The global glass mat market is expected to witness significant growth during the forecast period, driven by increase in construction activities. This is attributed to the fact that glass mat offers exceptional strength-to-weight ratio and resistance to moisture, mold, and fire, which make it ideal for reinforcing gypsum boards and insulation panels. In addition, the market is propelled by rise in demand for lightweight and fuel-efficient vehicles, leading to the widespread use of glass mat in the automotive industry. However, availability of alternative solutions such as carbon fibers, synthetic fibers, and natural fibers and high price of glass mats hinder the market growth. Nevertheless, increase in adoption of filtration systems and surge in investments in infrastructural development projects present lucrative growth opportunities for the market. 

Players: - 

The report provides a detailed analysis of these key players in the global glass mat market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario. 

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The chopped strand glass mat segment dominated the market during the forecast period 

By the mat type, the chopped strand glass mat segment held the highest market share in 2022, accounting for more than half of the global glass mat market revenue and is expected to retain its dominance during the forecast period. This can be attributed to rise in demand for lightweight, strong, and durable materials across various industries, coupled with advancements in technology and growing infrastructure needs, which are driving the growth in demand for chopped strand glass mat. 

The powder bonded glass mat segment dominated the market during the forecast period. 

By binder type, the powder bonded glass mat segment held the highest market share in 2022, accounting for more than half of the global glass mat market revenue and is expected to retain its dominance during the forecast period. This can be attributed the combination of improved mechanical properties, environmental benefits, versatility, and cost-effectiveness, which is driving the demand for powder-bonded glass mat bonding type in various industries. 

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The dry-laid segment dominated the market during the forecast period. 

By manufacturing process, the dry-laid segment held the highest market share in 2022, accounting for nearly half of the global glass mat market revenue and is expected to retain its dominance during the forecast periodas dry-laid glass mats are compatible with a wide range of resin systems, including polyester, vinyl ester, epoxy, and polyurethane resins. This compatibility allows manufacturers to tailor the properties of the finished composite material to specific application requirements, enhancing versatility and performance.