Tuesday, September 10, 2024 
Tuesday, September 10, 2024
Reinforcement Materials Market
The global reinforcement materials market is projected to reach $36.8 billion by 2030, growing at a CAGR of 8.7% from 2021 to 2030.
— Allied Market Research
WILMINGTON , DE, UNITED STATES, September 4, 2024 /EINPresswire.com/ — The global reinforcement materials market generated $16.3 billion in 2020, and is estimated to generate $36.8 billion by 2030, witnessing a CAGR of 8.7% from 2021 to 2030. The report offers a detailed analysis of changing market trends, value chain, top segments, key investment pockets, regional scenarios, and competitive landscape.
Reinforcement offers versatility in manufacturing with improved and optimized material properties. Particulate plastic reinforcements are also used in modern manufacturing methods such as injection molding, resulting in overall operating cost reduction. Natural fibers such as flax, jute, kenaf, hemp and sisal provide various benefits, such as weight reduction, cost reduction and recyclability. Reinforcements are used for enhancing properties such as stiffness and strength in composite materials. Glass fibers are considered the main reinforcements for polymer matrix composites, due to properties such as low moisture resistance, high electrical insulating properties and superior mechanical properties, depending on the alumina-lime-borosilicate composition.
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Increase in global construction activities, rise in end-use applications of fiber composites, GRFM advantages, surge in demand for lightweight materials that reduce car emissions significantly drive the growth of the global reinforcement materials market. On the other hand, complex and expensive carbon fiber manufacturing process impede the market growth. However, surge in adoption of reinforced materials from the automotive industry create new opportunities in the coming years.
The report offers detailed segmentation of the global reinforcement materials market based on material type, end user, and region.
Based on material type, the glass fiber segment held the highest market share in 2020, accounting for nearly three-fifths of the total share, and is projected to maintain its leadership status during the forecast period. However, the carbon fiber segment is estimated to grow at the fastest CAGR of 10.9% from 2021 to 2030.
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Based on end-user, the construction segment accounted for the largest share in 2020, contributing to nearly one-third of the global reinforcement materials market, and is expected to maintain its lead position during the forecast period. However, the industrial segment is projected to portray the highest CAGR of 9.4% from 2021 to 2030.
Based on region, Asia-Pacific contributed the highest share in 2020, accounting for nearly two-fifths of the total share, and is expected to continue its dominant share in terms of revenue by 2030. Moreover, the same segment is projected to manifest the largest CAGR of 9.0% during the forecast period.
Leading players in the global reinforcement materials market discussed in the research include Bast Fibers LLC, BASF SE, Binani Industries, Honeywell International Inc., DuPont, NFC FIBERS GMBH, Hyosung Corporation, Teijin Limited, Owens Corning, and Toray Industries Inc.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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