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The global reinforcement materials market was valued at US$ 18.64 Billion in 2021.
We expect the global reinforcement materials market to exhibit a CAGR of 7.10% during 2022-2027.
The rising utilization of reinforcement materials in fishing rods, storage tanks, and aircraft parts, owing
to their low cost and high corrosion resistance, is primarily driving the global reinforcement materials
The sudden outbreak of the COVID-19 pandemic has led to the growing demand for reinforcement
materials across the healthcare sector, in manufacturing swabs, disposable masks, and Personal
Protective Equipment (PPE) to combat the risk of coronavirus infection.
Based on the material type, the global reinforcement materials market has been segmented into glass
fiber, carbon fiber, aramid fiber, natural fiber, and others. Currently, glass fiber holds the majority of the
total market share.
Based on the end use industry, the global reinforcement materials market can be divided into aerospace
and defense, construction, transportation, wind energy, industrial and consumer goods, and others.
Among these, the construction industry exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin
America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global reinforcement materials market include 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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