Reinforcement Materials Market is expected to grow at the CAGR of 8.5% – IndustryARC
Reinforcement Materials Market is expected to grow at the CAGR of 8.5% during the forecast period from 2021-2026.The sudden surge in adoption of reinforced materials in the automobile industry is also creating opportunities to the global reinforcement materials market.Other types of reinforcement materials like Fiber Reinforced Polymer like bars, sheets, and strips are also used for strengthening various structures constructed from concrete, masonry, timber, and even steel. Further, replacement of conventional materials with the advanced fibers such as glass fiber and carbon fiber are another factor boosting the demand of reinforcement materials market.
Competitive Landscape:
The top 5 players in the Reinforcement industry are –
1. Bast Fibers LLC
2. BASF SE
3. DuPont
4. Honywell International Inc
5. Hyosung Corporation
Interested in knowing more relevant information? Click here:
https://www.industryarc.com/pdfdownload.php?id=501491
Segmental Analysis:
1. Glass fiber topped the reinforcement materials market in terms of volume and value owing to its benefits like its weight reduction and durability. Glass fibers are nearly 60% lighter than steel and 35% lighter than aluminum, which makes it a preferred reinforcement material.
2. Prepregs made from thermoplastic resins are made from glass and carbon fiber which allows for a higher strength and reinforcement. Therefore, prepreg has more demand than any other form of reinforcement materials.
3. Glass fiber reinforced material is the most sought after composite material, which is extensively used in aerospace and defence industry. Glass fiber possess excellent strength and reinforcement capability which is the main reason for its extensive use in aerospace and defence industry.
|
Report Coverage |
|
|
Report Attributes |
Details |
|
By Material Type |
Glass Fiber, Carbon Fiber, Aramid Fiber, Basalt Fiber, Natural Fiber, and Steel Rebar.
|
|
By Application |
Composite, Concrete, and Others
|
|
By End User |
Building & Construction, Automotive, Home Appliances, Electrical and Electronics, Power & Energy, Marine, Aerospace & Defence, Sporting Goods, Medical & Healthcare, Locomotive and Others
|
|
By Geography |
North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, France, Netherlands, Belgium Spain, Russia and Rest of Europe), APAC (China, Japan India, South Korea, Australia, New Zealand, Indonesia, Taiwan, Malaysia), South America (Brazil, Argentina, Colombia, Chile and Rest of South America) and RoW (Middle East and Africa).
|
Get more detailed information about these segments in the report. Buy it here:
https://www.industryarc.com/reports/request-quote?id=501491
Market Drivers and Challenges:
1. The increase in preference for lightweight materials in key use industries such as building & construction, electrical & electronics, defence & aerospace has increased the need and demand for reinforcement materials due to their superior qualities like lightweight and durability.
2. The reinforcement materials are used to enhance the overall quality and performance of the product which helps in increasing the efficiency and effectiveness of the product.
3. The process of manufacturing reinforcement material is complex and long which needs to be done with proper knowledge and expertise, which is also an expensive affair, which is a biggest challenge for the reinforcement market.
Why IndustryARC?
IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. Get detailed report on preferred market as per your specific requirements and our research experts would customize the report for you.
Email: [email protected]
USA: (+1) 614-588-8538, (+1) 815-656-4596
Related Reports:
A. Aramid Fiber Reinforcement Materials Market
https://www.industryarc.com/Research/Aramid-Fiber-Reinforcement-Materials-Market-Research-501470
B. Natural Fiber Reinforcement Materials Market
https://www.industryarc.com/Research/Natural-Fiber-Reinforcement-Materials-Market-Research-501660
Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: (+1) 970-236-3677
Address:Madhapur
City: Hyderabad
Country: India
Website: https://www.industryarc.com/Report/18509/industrial-packaging-market-research-report-analysis.html
