Reinforcement Materials Market Size 2022, Industry Share and Forecast till 2027

The latest research study “Reinforcement Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global reinforcement materials market 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.

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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.

COVID-19Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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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Reinforcement Materials Market Report Scope
Report Coverage Details
Market size value in 2021 US$ 18.64 Billion
Market forecast in 2027 US$ 28.6 Billion
Growth Rate CAGR of 7.10% from 2022 to 2027
Base year for estimation 2021
Historical data 2016-2021
Forecast period 2022-2027

 

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.

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 and 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

 If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

 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.

Read Also : Automotive Logging Device Market Size, Share, Growth and Global Forecast till 2022-2027

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

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