Global Fiberglass Mat Market: Introduction
- Fiberglass mat is made from glass continuous filaments of random orientation bonded together with a thermoset binder. These mats are available in a wide product range to optimize performance in varying closed mold applications. Fiberglass mats are compatible with unsaturated polyester, vinyl ester, polyurethane, and epoxy resins.
- Fiberglass mat is a sheet form of fiberglass. It is the weakest reinforcement, but has multi-directional strength. Fiberglass mat is made up of chopped glass strands up to 2 inches long, held together with a binder soluble in polyester resin. It is used to inexpensively build up stiffness. Epoxy is not recommended for fiberglass mat. Fiberglass mat readily conforms to compound curves.
Applications of Fiberglass Mat
- In terms of application, the fiberglass mat market can be segmented into high & low pressure injection, infusion & compression molding, LNG, and others
Automotive Applications of Fiberglass Mat to Drive Market
- Increase in new vehicle sales and rise in number of on-road vehicles in regions such as Asia Pacific, Latin America, and Middle East & Africa are estimated to propel the demand for fiberglass mat in these regions. This surge is apparent in Asia Pacific, which is becoming an automotive manufacturing hub.
- Countries in Asia Pacific such as India, China, Japan, South Korea, Thailand, and Indonesia account for major share of the global car production. China is the leading producer of automobiles in the world. Production of cars is increasing at a rapid pace in India. These factors are projected to augment the demand for automotive, thereby boosting the demand for fiberglass mat in Asia Pacific during the forecast period.
COVID-19 Impact on Global Fiberglass Mat Market
- The global coronavirus outbreak is expected to pose severe challenges to the global fiberglass mat market. Fiberglass mat is primarily utilized in automotive applications. Decline in sale of automotive is estimated to restrain the fiberglass mat market in the near future. Extension of the lockdown in various countries across the world has led to supply chain disruptions. This is anticipated to hamper the fiberglass mat market in the near future.
Asia Pacific Held Major Share of Global Fiberglass Mat Market in 2019
- Based on region, the global fiberglass mat market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific held major share of the global fiberglass mat market in 2019. Increase in automotive activities has boosted the demand for fiberglass mat in the region.
- A few distributors and manufacturers of fiberglass mat operate in Latin America. The region relies on import from other countries in order to cater to the demand for fiberglass mat.
Key Players in Global Fiberglass Mat Market
- The global fiberglass mat market is highly consolidated. Major players operating in the global fiberglass mat market include:
- Owens Corning
- Shandong Xingying International Trading Co., Ltd.
- 3B Fibreglass
- R. B. Electricals.
Global Fiberglass Mat Market: Research Scope
Global Fiberglass Mat Market, by Application
- High & Low Pressure Injection
- Infusion & Compression Molding
- Heavy Truck
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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