The Global Glass Mat Thermoplastic Composite Market was valued at USD 820.1 Million in 2021 and is projected to reach USD 958.2 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 2.2% during the forecast period (2022–2028). This steady growth is fueled by the increasing demand for lightweight, high-performance materials across the automotive, construction, and marine industries, driven by stringent emission regulations and the pursuit of energy efficiency.

As industries worldwide pivot towards sustainable and efficient manufacturing, Glass Mat Thermoplastic (GMT) composites have emerged as a critical material solution. Combining the ease of processing of thermoplastics with the strength of long glass fibers, GMT offers superior mechanical properties. In this blog, we profile the Top 10 Companies in the Glass Mat Thermoplastic Composite Industry—key material scientists, manufacturers, and innovators defining the future of lightweight engineering.

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🔟 1. Hanwha Solutions

Headquarters: Seoul, South Korea
Key Offering: Qcell GMT, Advanced Thermoplastic Composites

Hanwha Solutions is a global leader in advanced materials, with a significant footprint in the GMT composite sector. Their products are renowned for high impact resistance and are extensively used in automotive underbody shields, battery trays for electric vehicles (EVs), and structural components.

Innovation & Market Strategy:

• Focus on developing GMT solutions for the burgeoning electric vehicle market.

• Investment in recycling technologies for thermoplastic composites.

• Strategic partnerships with global automotive OEMs.

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9️⃣ 2. Quadrant (now part of Mitsubishi Chemical Advanced Materials)

Headquarters: Zurich, Switzerland
Key Offering: TEPEX®, Stamax® (PP GMT), Tepex® dynalite

Quadrant, integrated into Mitsubishi Chemical Advanced Materials, is a pioneer in high-performance thermoplastics. Its Stamax® brand of polypropylene-based GMT is a market standard for large, lightweight parts requiring high stiffness and excellent energy absorption.

Innovation & Market Strategy:

• Leading provider of continuous fiber-reinforced thermoplastics (CFRTP) and GMT.

• Strong focus on applications in automotive front-end carriers, seat structures, and load floors.

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8️⃣ 3. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Ultramid® (PA), Elastolit® (PUR), & Composite Solutions

BASF, a chemical giant, offers a wide portfolio of engineering plastics and composite materials. While historically strong in thermosets, its expertise in polyamide and polyurethane systems positions it as a key player in developing advanced thermoplastic composite solutions.

Innovation & Market Strategy:

• Development of glass fiber-reinforced polyamide (PA) compounds for demanding applications.

• Commitment to sustainability with targeted investments in bio-based and recyclable material solutions.

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7️⃣ 4. SABIC

Headquarters: Riyadh, Saudi Arabia
Key Offering: STAMAX® (Licensed from MCAM), LNP™ Compounds

SABIC is a major global player in chemicals, agri-nutrients, and plastics. Through its portfolio, it supplies high-flow, long-glass-fiber-reinforced polypropylene resins that compete directly with GMT in semi-structural automotive applications, offering design flexibility and weight reduction.

Innovation & Market Strategy:

• Focus on materials for electric and autonomous vehicle platforms.

• Development of flame-retardant composites for transportation and construction.

Download FREE Sample Report: Glass Mat Thermoplastic Composite Market – View in Detailed Research Report

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6️⃣ 5. Lanxess AG

Headquarters: Cologne, Germany
Key Offering: Tepex® (via partnership), Durethan® (PA), Pocan® (PBT)

Lanxess is a leading specialty chemicals company with a strong focus on high-tech plastics. Its involvement in the composite space, particularly through its expertise in polyamide and polybutylene terephthalate (PBT) compounds, makes it a significant material supplier for industries utilizing GMT-like materials.

Innovation & Market Strategy:

• Expertise in lightweight design for automotive e-mobility components.

• R&D in composites for sustainable mobility and circular economy.

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5️⃣ 6. Celanese Corporation

Headquarters: Irving, Texas, USA
Key Offering: Celstran® (LFT), Hostaform® (POM), Fortron® (PPS)

Celanese is a global chemical and specialty materials company. Its Celstran® line of long-fiber thermoplastic (LFT) composites offers an alternative and complementary technology to GMT, providing high strength and impact resistance for automotive, industrial, and consumer applications.

Innovation & Market Strategy:

• Leadership in long-fiber reinforced thermoplastics (LFRT) for metal replacement.

• Focus on high-temperature materials like PPS for under-the-hood applications.

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4️⃣ 7. Solvay S.A.

Headquarters: Brussels, Belgium
Key Offering: Advanced Thermoplastic Composites, Ryton® PPS

Solvay is a renowned advanced materials and specialty chemicals company. It offers a comprehensive range of high-performance thermoplastic composites, including materials reinforced with glass fibers, suitable for applications where GMT’s properties are required but with specific performance enhancements.

Innovation & Market Strategy:

• Strong focus on aerospace, automotive, and healthcare sectors.

• Development of sustainable composite solutions aligned with circular economy principles.

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3️⃣ 8. DSM Engineering Materials (now part of Covestro)

Headquarters: Geleen, Netherlands
Key Offering: Akulon® (PA), Arnitel® (TPC), EcoPaXX® (Bio-based PA)

DSM’s engineering materials business, now part of Covestro, has been a key innovator in high-performance polymers. Its portfolio includes glass-reinforced polyamides and other thermoplastics that serve markets overlapping with GMT, particularly in automotive lightweighting and durable consumer goods.

Innovation & Market Strategy:

• Pioneering bio-based and circular material solutions.

• Expertise in materials for electrical and electronic applications.

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2️⃣ 9. Toray Industries, Inc.

Headquarters: Tokyo, Japan
Key Offering: Torayca® (Carbon Fiber), Advanced Composites

Toray Industries is the world’s leading manufacturer of carbon fiber. While its primary strength is in carbon fiber composites, its advanced material technology and global manufacturing scale give it the capability to produce and innovate in glass fiber-reinforced thermoplastic composites for various industrial applications.

Innovation & Market Strategy:

• Global leadership in carbon fiber and composite materials.

• Expansion into mass-production automotive composites.

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1️⃣ 10. Asahi Kasei Corporation

Headquarters: Tokyo, Japan
Key Offering: Xyron™ (mPPE), Leona™ (PA66), SunForce™ (Composite Materials)

Asahi Kasei is a diversified Japanese chemical company. Its engineering plastics division produces high-performance materials like glass-fiber reinforced polyamide and modified polyphenylene ether, which are used in applications demanding the strength and lightweight properties synonymous with GMT composites.

Innovation & Market Strategy:

• Development of materials for battery components and other EV applications.

• Focus on high-heat resistance and dimensional stability for automotive parts.

Get Full Report Here: Glass Mat Thermoplastic Composite Market – View in Detailed Research Report

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🌍 Outlook: The Future of GMT Composites Is Lightweight and Sustainable

The Glass Mat Thermoplastic Composite market is evolving beyond traditional automotive applications. The push for fuel efficiency, electrification, and circular economy principles is driving innovation in material science, processing techniques, and end-use applications.

📈 Key Trends Shaping the Market:

• Accelerated adoption in Electric Vehicle (EV) battery enclosures and structural components.

• Growth in construction and infrastructure applications for durable, corrosion-resistant panels.

• Increased R&D into recyclable and bio-based thermoplastic composites.

• Expansion of GMT use in consumer goods and industrial equipment for weight reduction and part consolidation.

Get Full Report Here: Glass Mat Thermoplastic Composite Market – View in Detailed Research Report

The companies profiled are at the forefront of this transformation, not just supplying materials but enabling the next generation of lightweight, efficient, and sustainable products across the globe.