Glass mat thermoplastics market expected to grow rapidly

Market research firm Lucintel (Dallas, Texas) reports that the automotive industry is rediscovering glass mat thermoplastic (GMT) materials, according to Global GMT Market 2008-2013: Trend, Forecast, and Opportunity Analysis, a recent report conducted by the company.

Market research firm Lucintel (Dallas, Texas) reports that the automotive industry is rediscovering glass mat thermoplastic (GMT) materials, according to Global GMT Market 2008-2013: Trend, Forecast, and Opportunity Analysis, a recent report conducted by the company.

The automotive industry, the core market for glass mat thermoplastic (GMT) composites, provides significant market pressure for innovation and evolution. The need to reduce fuel consumption and to improve profits — particularly in slow North American and European markets — has made cost and weight reduction high priorities, says Lucintel.

The company says the global GMT market is expected to grow at an estimated 7.0 percent compound annual growth rate (CAGR) during the next five years (2008-2013). In 2013, total global GMT material market is estimated to reach over $1.5 billion (USD), according to Lucintel. The highest growth will be in the lightweight/low-density reinforced thermoplastic (advanced GMT) material segment. Traditional GMT materials, typically constructed of glass fiber and polypropylene, are expected to grow moderately during the same period. A variety of non-automotive applications as well as new advanced GMTs are poised for significant growth.

Lucintel’s report identifies more than a dozen applications and provides information on the above-mentioned markets where there will be significant annual growth for glass mat thermoplastic composites in the next five years.

This 260-page research report also contains regional market and competitive analyses, trends, forecasts and profiles of molders and material suppliers.

For more information, Tel,: (972) 620-8888; E-mail: sean.lofgren@lucintel.com .