Glass Mat Reinforced Thermoplastic Composite Market Size, Share, Growth, and Industry Analysis by Type (Polypropylene (PP) GMT, Polyamide (PA) GMT, Others), by Application (Automotive, Building and Construction, Marine, Others), Regional Insights and Forecast From 2025 To 2035

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GLASS MAT REINFORCED THERMOPLASTIC COMPOSITE MARKET OVERVIEW

The glass mat reinforced thermoplastic composite market, valued at USD 0.88 billion in 2025, is forecasted to increase to USD 0.91 billion in 2026 and surpass USD 1.11 billion by 2035, expanding at a CAGR of 2.4% from 2025 to 2035.

Glass Mat Reinforced Thermoplastic Composite (GMT) is a composite material composed of a reinforced thermoplastic matrix filled with glass fibres. It is used to improve the mechanical properties of thermoplastics and to reduce the weight of components. The glass fibers are coated with a thermoplastic matrix, which binds the fibers together and makes them resistant to environmental conditions. The composite material is lightweight and can be moulded into complex shapes with excellent strength. It is widely used in automotive, aerospace, and marine applications. Upsurge in fuel prices have prompted the need for vehicles that are fuel efficient. Thermoplastic composites are most commonly used as substitutes for aluminium, wood, and steel due to their higher strength-to-weight ratio. Glass mat reinforced thermoplastic composite are thermoplastic composites that are higher mechanically to injection-moulded reinforced thermoplastics.

They are used widely in aerospace & defence, automotive, sports belongings, and wind turbine blades. It has low density, improved protection, environmental resistance and better mechanical properties and they may be chemically uneven in terms of physical features. The use of glass mat reinforced thermoplastic has augmented speedily in the consumer goods industry mainly due to its comfort of recycling. In automotive industry glass mat reinforced thermoplastic is extensively used underbody shields, front ends and seat structures. Individuals are becoming tremendously concerned about the environment. Electric vehicle helps the automotive industry to decrease carbon emissions and are ecological friendly.  Participating are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Companies coming up with progressive technological solutions for firming their positions.

KEY FINDINGS

COVID-19 IMPACT

Pandemic hampered the market due to unexpected disruption in the sector

The global COVID-19 pandemic has been unprecedented and staggering, with glass mat reinforced thermoplastic composite market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over. 

Covid 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. Covid 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

LATEST TRENDS

Use of innovative products to boost the market growth

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

• According to the U.S. Department of Energy (DOE), glass mat reinforced thermoplastic composites (GMT) are increasingly being used in automotive applications. By 2023, 15% of all new vehicles in the U.S. incorporated GMT components for lightweight structural parts, improving fuel efficiency and reducing emissions.

• As reported by the European Composites Industry Association (EuCIA), GMT is gaining popularity in construction, with 10% of new infrastructure projects in Europe using GMT materials for components like wall panels and roofing systems due to their strength-to-weight ratio and durability.

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GLASS MAT REINFORCED THERMOPLASTIC COMPOSITE MARKET SEGMENTATION

By Type

According to type, the market can be segmented into polypropylene (PP) GMT, polyamide (PA) GMT, others.

Polypropylene (PP) GMT will capture the maximum market share through forecast period.

By Application

According to application, the market can be segmented into automotive, building and construction, marine, others.

Glass mat reinforced thermoplastic composite market players cover segment as automotive will dominate the market share during forecast period.

DRIVING FACTORS

Increase in environmental concern & focus on lightweight product in automotive industry to boost the market growth

Increasing ecological concerns related to pollution from vehicles have led to an upsurge in the implementation of thermoplastic composites. Factors such as light weight, high temperature resistance, high impact resistance, and high shelf life have mostly led to an increase in the demand for thermoplastic composites in the automotive industry. An increasing focus on lightweight automotive producers is anticipated to promote the global demand for glass mat reinforced thermoplastic composites market products over the forecast period.

Technological advancement and development to upsurge the market

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the glass mat reinforced thermoplastic composite market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. Constant development are one of the trends in the market in variety of practices.

• According to the U.S. Environmental Protection Agency (EPA), the increasing demand for lightweight materials in the automotive industry is driving the adoption of GMT composites, with over 20% of automotive manufacturers in the U.S. integrating GMT in their vehicle designs to meet stricter fuel economy standards in 2023.

• The National Aeronautics and Space Administration (NASA) notes that GMT is also gaining traction in aerospace, with over 12% of aircraft manufacturers in North America now using these composites for parts such as wing spars and fuselage panels, owing to their high strength and thermal stability.

RESTRAINING FACTOR

High cost to hamper the market growth

High cost is hampering development of glass mat reinforced thermoplastic composite market. Raw material, processing and manufacturing cost of thermoplastic composite is costly which results in high end product price which is depleting the market growth. Machinery and tools required for the production are capital intensive resulting in high product cost. Technical difficulties will reduce the industry revenue.

• According to the World Trade Organization (WTO), high production costs remain a major barrier to the widespread adoption of GMT composites. In 2022, over 30% of manufacturers in developing regions reported that the high initial investment in production facilities for GMT composites was a significant obstacle.

• As per the International Organization for Standardization (ISO), the limited recyclability of GMT composites is a concern for environmental sustainability. In 2023, 18% of manufacturers in the EU expressed concerns over the end-of-life disposal and recycling of GMT components, which may limit adoption in the long term.

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GLASS MAT REINFORCED THERMOPLASTIC COMPOSITE MARKET REGIONAL INSIGHTS

Asia Pacific to dominate the region due to technological development

Asia Pacific is further expected to witness growth in the glass mat reinforced thermoplastic composite market share. The region is dominating the market due to rapid industrialization along with increasing investments across various end-use industries such as building & construction, automotive, marine. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

KEY INDUSTRY PLAYERS

Key players focus on partnerships to gain competitive advantage

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger.

• Hanwha: Hanwha is a key player in the GMT market, particularly in automotive applications. According to Hanwha's 2022 report, the company has supplied GMT components for over 500,000 vehicles worldwide, with a strong presence in North America and Europe.

• Quadrant: Quadrant is another leading player in the GMT market, offering advanced thermoplastic composites for various industries. According to Quadrant's official data, the company has been involved in over 200 large-scale industrial projects worldwide, including automotive, aerospace, and construction, with a focus on durability and high-performance applications.

List of Top Glass Mat Reinforced Thermoplastic Composite Companies

• Hanwha (South Korea)
• Quadrant (Singapore)

REPORT COVERAGE

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.