According to the recent study the glass mat thermoplastic market is projected to reach an estimated $967.1 million by 2030 from $622.9 million by 2023, at a CAGR of 3.0% from 2023 to 2030. Growth in this market is primarily driven by the increasing use of glass mat thermoplastic in automotive and construction applications, increasing use for lightweight materials, recyclability, and ease of processing of GMT.
Browse 50 figures / charts and 48 tables in this 130 -page report to understand trends, opportunities and forecast in glass mat thermoplastic market by application (transportation, construction, and others), material type (traditional GMT and advance GMT), and region (North America, Europe, and Asia Pacific & Rest of the World).
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Lucintel forecasts that transportation will remain the largest application by value and volume due to increasing government mandates for higher fuel economy, recyclability, and ease of processing are the major driving forces that spur growth for GMT.
Traditional GMT is expected to remain the largest market by value and volume, mainly driven by its various mechanical properties like lower mass, recyclability, high productivity, and low tooling cost.
Asia Pacific (APAC) expected to remain the largest market and it is also expected to witness the highest growth over the forecast period due to the anticipated growth in the end user industries and increasing focus on lightweight thermoplastic composites
Mitsubishi Chemical Advanced Materials, Hanwha Advanced Materials, JFE Chemical Corporation are the major supplier in the glass mat thermoplastic market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com
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