Reinforcement Materials Market

Market Overview:

The global reinforcement materials market size reached US$ 21.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 37.2 Billion by 2032, exhibiting a growth rate (CAGR) of 6.1% during 2024-2032.

Reinforcement materials are added to the matrix material to enhance the physical and mechanical properties of the final composite product. They are hard, strong, rigid, and available in the forms of fibers, fillers, flakes, and particulates. They are widely used in fishing rods, storage tanks, and aircraft parts on account of their low cost and high corrosion resistance. They also find application in the manufacturing of electronics, paints, coatings, and various other industrial items. Nowadays, manufacturers across the globe are introducing green reinforcement materials derived from plant and animal-based biomass, such as wood cellulose.

Reinforcement Materials Market Trends:

There is currently an increase in the need for swabs, disposable masks, and personal protective equipment (PPE) on account of the growing coronavirus disease (COVID-19) patients. This represents one of the key factors positively influencing the utilization of reinforcement materials in the healthcare industry. Apart from this, the rising consumer spending in real estate properties is augmenting the employment of reinforcement materials in the construction industry for imparting tensile strength and ductility to concrete structures. Additionally, increasing investments in infrastructural projects are propelling the use of geotextiles or reinforcement materials to increase soil stability, provide erosion control, and aid in drainage. Besides this, the escalating demand for run-flat and ultra-high-speed tires is increasing the adoption of reinforcement textiles in bicycles, earthmovers, heavy-duty trucks, and space shuttle landing gear across the globe. Moreover, as reinforcement fibers are tough and resistant to organic solvents, fuels, and lubricants, they are widely utilized in ballistic applications across the defense industry. Furthermore, market players are introducing polyester and nylon thermoplastic fibers with attractive features, including low density and good impact and fatigue resistance, which is creating a favorable market outlook.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global reinforcement materials market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on 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
   

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
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Report Coverage: