According to the latest report by IMARC Group, titled “Reinforcement Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the global reinforcement materials market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
Reinforcement Materials Market Overview:
The global reinforcement materials market size reached a value of US$ 18.64 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 28.6 Billion by 2027 exhibiting a CAGR of 7.10% during 2022-2027.
Reinforcement materials are added to the matrix to enhance the mechanical and physical properties of the final compound product. They are strong, stiff, rigid, and available in the forms of fibers, flakes, fillers, and particulates. Reinforcement materials are used in aircraft parts, fishing rods, storage tanks, etc., on account of their high corrosion resistance and low cost. They also assist in manufacturing paints, electronics, coatings, industrial items, etc. As a result, reinforcement materials find widespread applications across various sectors, such as construction, transportation, wind energy, aerospace, defense, etc.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Reinforcement Materials Market Trends and Drivers:
The escalating product requirement in the healthcare sector to produce disposable masks, swabs, and personal protective equipment (PPE), owing to the sudden outbreak of the COVID-19 pandemic, is primarily driving the reinforcement materials market.
Besides this, the elevating need for geotextiles in infrastructural projects to increase soil stability, aid in drainage, and provide erosion control is further augmenting the market growth. Apart from this, the introduction of nylon and polyester thermoplastic fibers with attractive features, low density, good impact, and fatigue resistance is also catalyzing the global market.
Moreover, the increasing product demand in ballistic applications in the defense sector, on account of its toughness and resistance to organic solvents, lubricants, fuels, etc., is acting as another significant growth-inducing factor. Furthermore, the rising utilization of these materials in bicycles, heavy-duty trucks, space shuttle landing gear, earthmovers, etc., is expected to propel the reinforcement materials market in the coming years.
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Global Reinforcement Materials Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- BASF SE
- Century Enka Limited
- Cordenka GmbH & Co. KG
- Dupont De Nemours Inc.
- Formosa Taffeta Co. Ltd.
- Honeywell International Inc.
- Hyosung Advanced Materials
- Kolon Industries Inc.
- N.V. Bekaert S.A.
- Teijin Limited
- Toray Industries Inc
- Toyobo Co. Ltd
The report has segmented the market on the basis of region, material type, application and end use industry.
Breakup by Material Type:
- Glass Fiber
- Carbon Fiber
- Aramid Fiber
- Natural Fiber
- Others
Breakup by Application:
- Composite
- Concrete
- Others
Market Breakup by End Use Industry:
- Aerospace and Defense
- Construction
- Transportation
- Wind Energy
- Industrial and Consumer Goods
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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