According to the latest report by IMARC Group, titled “Global Reinforcement Materials Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027“, 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.
Reinforcement materials refer to constituents of composite materials that are added to the matrix materials to enhance the physical and mechanical properties of the final product. They are widely available in the form of fibers, flakes, particulates and fillers, and are used in aircraft parts, storage tanks, and fishing rods. These reinforcement fibers are also tough and resistant to organic solvents, fuels, and lubricants. In recent years, reinforcement materials have gained traction across various industries, including construction, aerospace and defense, transportation, healthcare, and consumer goods, due to their excellent strength, rigidity, cost-effectiveness, and resistance to moisture and corrosion.
|Base Year: 2021|
|Forecast Year: 2022-2027|
Reinforcement Materials Market Trends and Drivers:
The global reinforcement materials market is primarily driven by the escalating demand for disposable masks, personal protective equipment (PPE), and swabs amid the recent coronavirus disease (COVID-19) outbreak.
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Additionally, the rising usage of reinforcement materials to impart tensile strength and ductility to concrete structures and the growing need for run-flat and ultra-high-speed tires have catalyzed the product demand. Furthermore, the leading manufacturers are launching green reinforcement materials derived from plant and animal-based biomass, such as wood cellulose, thereby contributing to the market growth.
Other factors, including the emerging ballistic applications, increasing investments in infrastructural projects, inflating consumer expenditure capacities, and rapid urbanization, are also anticipated to create a favorable market outlook.
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.
Global Reinforcement Materials Market 2022-2027 Analysis and Segmentation:
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.
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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
Breakup by Application:
Breakup by End Use Industry:
- Aerospace and Defense
- Wind Energy
- Industrial and Consumer Goods
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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