Fiberglass Mat Market Analysis and Forecast 2024-2028

The fiberglass mat market is projected to grow by USD 2.3 billion, with a compound annual growth rate (CAGR) of 5.8% between 2023 and 2028. This growth is largely driven by the expansion of the construction industry, which is pushing the demand for lightweight, durable building materials. Additionally, an increasing number of strategic partnerships among market players is contributing to the market's progress. The rising preference for sustainable alternatives to traditional fiberglass mats, such as those made from recycled materials, is also fueling market growth. As these trends continue, the market presents attractive investment opportunities for businesses in North America and beyond. The market's expansion is further supported by advancements in glass fiber technology, including chopped strand and continuous filament variants, which enhance composite materials used in insulation and structural applications. Additionally, innovations in resin types and the manufacturing process have improved efficiency while optimizing the use of raw materials. With a growing emphasis on product durability and the adoption of lightweight fabrics in insulation products, the fiberglass mat industry is expected to maintain steady growth.

For more details about the industry, get the PDF sample report for free

Market Segmentation

End-user

• Commercial

• Residential

Type

• Chopped Strand Mats

• Woven Roving Mats

• Continuous Filament Mats

• Glass Veils

Geography

• North America

  • Canada

  • US

• Europe

  • Germany

  • UK

  • France

  • Italy

• APAC

  • China

  • India

  • Japan

• Middle East and Africa

• South America

  • Brazil

By End-user Insights

The commercial segment is expected to witness significant growth during the forecast period. This segment includes applications in automotive, industrial, and aerospace industries. In particular, fiberglass mats are critical in customizing and repairing automotive components, especially in the production of absorbed glass mats (AGM) batteries, which offer benefits such as increased charge-discharge cycles and resistance to vibration. These mats' chemical stability makes them invaluable in the aviation and automobile sectors, ensuring product longevity and reliability.

Regional Market Trends

• North America is estimated to contribute 36% to the global market growth during the forecast period.

  • US: In 2023, North American construction equipment sales reached an all-time high, with an 8% increase in sales compared to 2022, driven by the real estate sector. This rise has led to an increased demand for fiberglass mats in roofing, insulation, and reinforcement applications.

  • Canada: The growth in the construction and renewable energy sectors is also boosting demand for lightweight, durable materials like fiberglass mats.

  • Mexico: The expansion of manufacturing and infrastructure projects is fueling market growth.

Market Dynamics

Drivers

• Growth of the construction industry: The market is primarily driven by the expansion of sectors like manufacturing, transportation infrastructure, and renewable energy, facilitated by key legislative measures such as the Infrastructure Investment and Jobs Act (IIJA) and the Inflation Reduction Act (IRA). These initiatives channel substantial investments into industries where fiberglass mats are used, including construction, aerospace, and wind energy.

• Demand for lightweight, durable materials: The market is further driven by the increasing demand for lightweight composites in the automotive and aerospace industries, and the need for durable insulation materials in construction.

Trends

• Strategic partnerships: There is an increasing number of strategic partnerships among market vendors, aimed at enhancing production capabilities, improving supply chain integration, and expanding market reach. An example includes a roofing products company acquiring a fiberglass mat manufacturing facility from Owens Corning to enhance its production capacity.

• Rising demand for energy-efficient products: The ongoing trend toward energy-efficient buildings, electric cars, and renewable energy systems is contributing to the demand for fiberglass mats, as they offer the necessary lightweight and durable properties.

Challenges

• Alternatives to fiberglass mats: A rising demand for alternatives, such as fiberglass cloth and other materials with superior tensile strength, is a significant challenge for the fiberglass mat market. This competition from alternative materials with specialized performance characteristics is causing market players to innovate continuously.

Market Research Overview

The fiberglass mats market is experiencing significant growth, driven by increasing demand in the construction sector, automotive industry, and wind energy applications. As a key component in composite materials, fiberglass reinforcement enhances material durability and corrosion resistance, making it ideal for infrastructure investment and construction projects. The industry is witnessing advancements in material innovation, particularly in fiber reinforcement and lightweight materials, which are crucial for roofing shingles, asphalt roofing, and building materials. The market's acquisition strategy and focus on market competitiveness are helping manufacturers streamline supply chain operations and optimize manufacturing facilities for cost-effective production. Additionally, the transition toward sustainable materials and clean energy is driving innovation in fiberglass applications, ensuring continued industry expansion.

Get more details by ordering the complete report

Key Players

• 3B Fiberglass Co.

• 3M Co.

• BASF SE

• Berkshire Hathaway Inc.

• Canadian Mat Systems Inc.

• China Beihai Fiberglass Co. Ltd.

• China Jushi Co. Ltd.

• Compagnie de Saint-Gobain SA

• Huatek New Material Inc.

• Jiangsu Changhai Composite Materials Holding Co. Ltd.

• Nippon Electric Glass Co. Ltd.

• Nitto Boseki Co. Ltd.

• Owens Corning

• Primex Industries

• Shanghai Hoprime Industrial Co. Ltd.

• Valmieras Stikla Skiedra AS

• Yuyao Feitian Fiberglass Co. Ltd.

• Zhejiang Weitong Composite Co. Ltd.

Research Analysis Overview

With a growing emphasis on product versatility and energy efficiency, manufacturers are investing in fiberglass cloth, woven roving, and resin binder to enhance material strength for industrial applications. Production optimization plays a key role in meeting the demand for durable composites, particularly in plastic packaging and commodity chemicals. However, the industry faces market challenges, including the rise of alternative materials that compete with traditional fiberglass mats. Advances in transportation infrastructure have increased the need for cost-effective production, with companies improving customer service and adopting new strategies for innovation focus. Additionally, manufacturers are leveraging fiberglass reinforcement to enhance material durability, ensuring strong performance in construction projects and other critical sectors.