Irving, Texas (PRWEB) December 31, 2012
The global market for glass mat thermoplastic (GMT) composites has been growing slowly during the past five years and is expected to further gain momentum, reaching approximately US $481 Million by 2017 with a CAGR of 5.5% over the next five years. Automotive will be the predominant market segment for GMT materials over the next five years. Growth is expected in flat-panel applications, such as interior headliners, exterior panels, and underbody systems.
Lucintel, a leading global management consulting and market research company, has analyzed the global glass mat thermoplastics market and presents its findings in “Global Glass Mat Thermoplastics Market 2012-2017: Trend, Forecast, and Opportunity Analysis.”
Lucintel’s research indicates that the industry is growing at GDP rates that can be attributed to several factors, including the continuing demand for lighter weight materials to replace metals (especially steel) in automotive applications to increase fuel efficiency. Other factors include the use of more environmentally friendly, recyclable materials in the automotive sector, particularly in Europe; continued technology improvements in fabrication techniques, material formulations, and product design to take advantage of GMT’s unique properties; and the opening up of new non-automotive applications in the construction market and others. In addition, competitors can position themselves as the supplier of choice after working with their customers to satisfy new application
Copyright©2012 Vocus, Inc.
All rights reserved