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Global market for Glass Mat Thermoplastics to grow at 7% during the next 5 years

Post Time:Jun 27,2008Classify:Industry NewsView:426

The global GMT market is expected to grow at an estimated 7.0% compound annual growth rate (CAGR) during the next five years (2008-2013). In 2013, total global GMT material market is estimated to reach over one half billion dollars 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.

In a race to reduce fuel consumption and improve financial returns, the automotive industry is rediscovering glass mat thermoplastic (GMT) materials. A novel option in the 1970s and '80s to improve mechanical properties, GMT materials lost favor to advancements in steel during the '90s. Since 2000, GMTs have mounted a comeback, reaffirming their greater design flexibility, impact and corrosion resistance, and higher strength-to-weight ratios compared to metals. The automotive industry, the core market for glass mat thermoplastic (GMT) composite, 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.

Source: plastemart.comAuthor: admin

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