Glass Mat Thermoplastics (GMT) Market size was valued at USD 1.5 Billion in 2024 and is forecasted to grow at a CAGR of 8.5% from 2026 to 2033, reaching USD 2.9 Billion by 2033.
The global Glass Mat Thermoplastics (GMT) market was valued at approximately USD 4.2 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of around 7.8% from 2023 to 2030. The increasing demand for lightweight, durable, and cost effective materials in automotive, aerospace, and construction industries is driving market growth. GMTs exceptional properties, such as high strength to weight ratio and resistance to corrosion, make it ideal for various applications. The markets steady expansion is also supported by the rising trend of electric vehicles (EVs), where GMT is gaining traction due to its ability to reduce vehicle weight and improve energy efficiency.
Regionally, North America held the largest market share in 2022, accounting for approximately 34% of the global market revenue. The regions strong automotive industry, coupled with technological advancements in GMT production, has propelled demand. Europe followed closely, with a market share of around 28%, driven by a focus on sustainable solutions and the increasing adoption of GMT in the automotive and construction sectors. The Asia Pacific region is projected to witness the fastest growth during the forecast period, with a CAGR of 9.1%, fueled by the expanding automotive manufacturing hubs and increasing demand for lightweight composite materials in countries like China and India. The Middle East and Africa, along with Latin America, are also expected to experience steady growth due to rising industrialization and infrastructure development projects.
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Glass Mat Thermoplastics (GMT) Market
Short Glass Fiber Reinforced GMT
Long Glass Fiber Reinforced GMT
Continuous Glass Fiber Reinforced GMT
Automotive
Aerospace
Construction
Electronics
Compression Molding
Injection Molding
Thermoforming
Resin Transfer Molding
Transportation
Building and Construction
Electrical and Electronics
Aerospace
Consumer Goods
Sheets
Rolls
Shapes
Composite Parts
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Glass Mat Thermoplastics (GMT) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Glass Mat Thermoplastics (GMT) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Glass Mat Thermoplastics (GMT) Market, By Type
6. Global Glass Mat Thermoplastics (GMT) Market, By Application
7. Global Glass Mat Thermoplastics (GMT) Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Glass Mat Thermoplastics (GMT) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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