GMT Market Poised for Rapid Growth

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 company says the global GMT market is expe

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 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, the total global GMT material market is estimated to exceed $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. Nonautomotive applications as well as new advanced GMTs also should see significant growth.

Lucintel's report identifies more than a dozen applications and provides information on markets where there will be significant growth for GMT in the next five years. The 260-page report also contains regional market and competitive analyses, trends, forecasts and profiles of molders and material suppliers.