Reinforcement Materials Market By Material Type (Glass Fiber, Carbon Fiber, Polymeric, Cellulosic, And Others), End User (Construction, Aerospace & Defense, Transportation, Wind Energy, Consumer Goods, Industrial, Marine, Sporting Goods, And Others) - Global Opportunity Analysis And Industry Forecast, 2014-2022
In 2015, the global reinforcement materials market accounted for $13,020 million, and is estimated to grow at a CAGR of 8.4% during the forecast period. Reinforcement materials are essential for the formation of fiber-based composites.
Composites are multi-phase materials, prepared from the amalgamation of two or more components that differ in properties, but render exceptional properties on consolidation. Reinforcement materials are essential for forming composites as they provide rigidity and structural strength to the composites.
The reinforcement materials industry is driven by the superior properties of composites such as, lighter weight as compared to individual components, increased use in the automotive, aerospace & defense, and the construction industry. However, the high production cost of reinforcement materials may hamper the growth of global market.
Technological advancements in the carbon and aramid fiber molding processes, specifically related to medical devices have created numerous growth opportunities for market players.
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The reinforcement materials market is segmented on the basis of material type, end user, and geography. By material type, it includes glass fiber (roving, woven roving, fabrics, CSM/CFM, chopped strand, and others), carbon fiber (woven fabric, thermoset UD prepreg, thermoset fabric prepreg, thermoplastic prepreg, raw fiber, and molding compounds), aramid fiber (para-aramid fiber, and meta-aramid fiber & others), natural fiber (hemp, flax, kenaf, jute, and others), and steel rebar.
By end user, the market is subsegmented into construction, aerospace & defense, transportation, wind energy, consumer goods, industrial, marine, sporting goods, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Major companies have adopted agreement, product launch, expansion, merger, and agreement as key strategies to gain competitive advantage. The key players profiled in the report are:
- Toray Industries, Inc.
- Teijin Limited
- Mitsubishi Rayon Co. Ltd.
- Hyosung Corporation
- Cytec Industries Inc.
- Honeywell International, Inc.
- E. I. du Pont de Nemours and Company
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