Stratview Research has launched a new report, titled Glass Mat Thermoplastic Market is Segmented by Application Type (Transportation [Bumper beam, Underbody system, Seating Structure, Interior Headliners, Load Floor/Parcel Shelf, and Others], Non-Transportation), by Material Type (Traditional GMT and Advanced GMT), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

Covid-19 Impact Analysis:

Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.

According to the report, The demand for GMTs is highly related to the production of automobiles and if any change in the production of vehicles usually has similar reflections in the demand for GMTs. The pandemic has brought forth several challenges before GMT manufacturers including supply-chain sabotage, reduced demand, huge COVID-related costs, and remote work affecting the efficiency, ultimately giving a huge burden on the balance sheet of the companies. However, the market stakeholders are started witnessing recovery from 2021 onwards with the recovery in automobile production. Overall, the GMT market is estimated to grow at a CAGR of 5.9% during 2021-2026 to reach the figure of US$ 630.6 Million in 2026.

Market Segments’ Analysis

Based on the application type, the market is segmented as transportation and non-transportation. The transportation segment is further classified as bumper beam, underbody system, seating structure, interior headliners, load floor/parcel shelf, and others. Transportation is expected to remain the bigger demand generator for GMTs in terms of both value and volume during the forecast period. Benefits offered by glass mat thermoplastic, such as lightweight, recyclability, and ease of processing accompanied with rising government mandates towards higher fuel economy are the major growth drivers for the material in the transportation segment.

Based on the material type, the market is segmented as traditional GMT and advanced GMT. Traditional GMT is projected to be the leading segment of the market during the study period. Bumper beam and underbody system are two leading applications of traditional GMT. Interior headliners on the other hand in the key application of advanced GMTs.

In terms of region, Asia-Pacific is expected to remain the largest market for GMTs over the next five years owing to the growing penetration of GMTs in automobiles paired with greater production of vehicles. China, Japan, Korea, and India are the leading producers of automobiles. There has been an increase in the use of composite materials, more specifically compounds, in the region’s automotive industry over the eons, making the region the biggest demand generator among all regions.  North America is the second most important market for glass mat thermoplastics in the wake of high usage in their vehicles.

Key Players

The following are the key players in the Glass Mat Thermoplastic Market.

  • Quadrant Plastic Composites AG
  • Hanwha Advanced Materials (Hanwha Azdel, Inc.)
  • JFE Chemical Corporation
  • SABIC (Saudi Basic Industries Corporation)
  • RTP Company

Frequently Asked Questions –

This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:

  • What is the current and future market size of Glass Mat Thermoplastic Market?
  • How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
  • What will be the short and long-term effects of the pandemic?
  • How are other market factors affecting the market dynamics?
  • Which segments offer high-growth opportunities in the long run?
  • How fierce is the Glass Mat Thermoplastic Marketcompetition?
  • What are the key emerging trends and unmet needs in the present market?
  • What are the strategic growth opportunities and key success factors?

Read the full report:

Custom Research: Stratview Research offers custom research services across the sectors. In case of any custom research requirement or any further query related to the report, please send your inquiry to You may also connect with our market experts at  +1-313-307-4176.

About Stratview Research

Stratview Research is a global market research firm that provides high-quality market research reports, market entry strategies, growth strategies, and more. We in-depth market research studies, to help the users obtain grainy level clarity on present business trends and probable future developments. At Stratview Research, the market experts are committed to providing custom solutions best fit for strategy development and implementation to achieve visible growth.