Reinforcement Materials Market Scope and Size by 2031
Analyst Perspective
The global reinforcement materials market is expected to register a CAGR of ~8%. The global market for reinforcement materials is witnessing significant growth, driven by increased demand in both business constructions and aerospace applications. These materials enhance composite products’ mechanical and physical properties, available in particulates, fibers, flakes, and fillers. Infrastructure development, sustainability focus, and technological advancements are significant growth-driven opportunities for the growth of the reinforcement materials market. High costs, fluctuations in the price of raw materials, and environmental concerns are significant challenges that may hamper the growth of the reinforcement materials market.
Market Overview
Reinforcement materials are crucial in enhancing the strength and stability of structures, products, and systems across industries like construction and manufacturing. These materials, ranging from metal and plastic to composites, come in diverse foams such as bars, sheets, fabrics, fibers, or particles. Notably, there’s rising acceptance of reinforced resources, offering market expansion. Advanced fibers like carbon and glass contribute to the growing demand for reinforcement materials, finding applications in storage tanks, fishing rods, and aircraft components due to their corrosion resistance and cost-effectiveness.
Market Drivers
- Growing demand from the construction and automotive industries
These two industries are the largest consumers of reinforcement materials, and their growth is expected to continue in the forecasted period. In the construction industry, reinforcement materials are used in various applications, such as concrete reinforcement, roofing, and pipes. In the automotive industry, reinforcement materials are used to make lighter and stronger car parts, which can improve fuel efficiency.
- Increased urbanization and technological advancements
A growing demand for new infrastructure, such as roads, bridges, and buildings, drives the demand for reinforcement materials. New technologies are being developed, making reinforcement materials more robust, lighter, and more versatile, opening up new opportunities for the use of reinforcement materials in various applications.
The factors mentioned above are likely to drive the market of reinforcement materials.
Market Segmentation
The global reinforcement materials market is segmented based on type and application. The global reinforcement materials market is segmented based on type into glass fiber, carbon fiber, aramid fiber, natural fiber, steel rebar, and others. The global reinforcement materials market is segmented based on application into building and construction, aerospace and defense, automotive, wind energy, consumer electronics, marine, sporting goods, and others.
Regional Analysis
The report provides a detailed industry overview, which includes qualitative and quantitative information. It gives an overview and forecast of the global reinforcement materials market based on several segments. It also provides market size and forecast estimates from 2021 to 2031 concerning five major regions: Europe, North America, Asia-Pacific (APAC), Middle East & Africa (MEA) and South & Central America. The reinforcement materials market by region is also sub-segmented by respective countries and segments. The reinforcement materials market report covers an analysis and forecast of 18 countries globally and the prevailing trends and opportunities in the region.
The report analyses factors affecting the reinforcement materials market from both the demand and supply sides. Furthermore, it evaluates market dynamics during the forecast period, i.e., drivers, challenges, opportunities, and future trends. The report also provides an extensive Porter’s Five Forces analysis highlighting factors affecting the reinforcement materials market in these regions.
Key Players
The reports cover vital organic and inorganic growth strategy developments in the reinforcement materials market. Various companies concentrate on organic growth strategies such as product launches, approvals, patents, and others. Inorganic growth strategies activities observed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the development of the business and customer base of market players. The market players in the reinforcement materials market are expected to have lucrative growth opportunities with the increasing demand for construction in the global market.
The report includes key companies’ profiles, SWOT analysis, and reinforcement materials market strategies. The report also focuses on leading market players with information including components and services offered, company profiles, financial information for the last three years, and critical development in the past five years.
Below is a list of companies engaged in the reinforcement materials market.
- TORAY INDUSTRIES, INC.
- BASF SE
- Dupont De Nemours, Inc.
- TEIJIN LIMITED
- Owens Corning
- Solvay SA
- SGL Carbon SE
- Hyosung Corporation
- 3B-The Fiberglass Company
- Mitsubishi Chemical Corporation
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
- Reinforcement Materials Market - By Material Type
- Reinforcement Materials Market - By End-User
- Reinforcement Materials Market - By Region
- By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. REINFORCEMENT MATERIALS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. ECOSYSTEM ANALYSIS
4.3. PEST ANALYSIS
4.3.1. North America - PEST Analysis
4.3.2. Europe - PEST Analysis
4.3.3. Asia Pacific (APAC) - PEST Analysis
4.3.4. Middle East & Africa (MEA) - PEST Analysis
4.3.5. South America (SAM)- PEST Analysis
5. REINFORCEMENT MATERIALS MARKET - KEY INDUSTRY DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. REINFORCEMENT MATERIALS MARKET - GLOBAL MARKET ANALYSIS
6.1. REINFORCEMENT MATERIALS - GLOBAL MARKET OVERVIEW
6.2. REINFORCEMENT MATERIALS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/ MARKET SHARE
7. REINFORCEMENT MATERIALS MARKET REVENUE AND FORECASTS TO 2028 - MATERIAL TYPE
7.1. OVERVIEW
7.2. MATERIAL TYPE MARKET FORECASTS AND ANALYSIS
7.3. GLASS FIBER
7.3.1. Overview
7.3.2. Glass Fiber Market Forecast and Analysis
7.4. CARBON FIBER
7.4.1. Overview
7.4.2. Carbon Fiber Market Forecast and Analysis
7.5. ARAMID FIBER
7.5.1. Overview
7.5.2. Aramid Fiber Market Forecast and Analysis
7.6. NATURAL FIBER
7.6.1. Overview
7.6.2. Natural Fiber Market Forecast and Analysis
7.7. STEEL REBAR
7.7.1. Overview
7.7.2. Steel Rebar Market Forecast and Analysis
8. REINFORCEMENT MATERIALS MARKET REVENUE AND FORECASTS TO 2028 - END-USER
8.1. OVERVIEW
8.2. END-USER MARKET FORECASTS AND ANALYSIS
8.3. CONSTRUCTION
8.3.1. Overview
8.3.2. Construction Market Forecast and Analysis
8.4. AEROSPACE & DEFENSE
8.4.1. Overview
8.4.2. Aerospace & Defence Market Forecast and Analysis
8.5. TRANSPORTATION
8.5.1. Overview
8.5.2. Transportation Market Forecast and Analysis
8.6. WIND ENERGY
8.6.1. Overview
8.6.2. Wind Energy Market Forecast and Analysis
8.7. CONSUMER GOODS
8.7.1. Overview
8.7.2. Consumer Goods Market Forecast and Analysis
8.8. INDUSTRIAL
8.8.1. Overview
8.8.2. Industrial Market Forecast and Analysis
8.9. MARINE
8.9.1. Overview
8.9.2. Marine Market Forecast and Analysis
8.10. SPORTING GOODS
8.10.1. Overview
8.10.2. Sporting Goods Market Forecast and Analysis
8.11. OTHERS
8.11.1. Overview
8.11.2. Other Market Forecast and Analysis
9. REINFORCEMENT MATERIALS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1. North America Market Overview
9.1.2. North America Market Forecasts and Analysis
9.1.3. North America Market Forecasts and Analysis - By Material Type
9.1.4. North America Market Forecasts and Analysis - By End-User
9.1.5. North America Market Forecasts and Analysis - By Countries
9.1.5.1. US market
9.1.5.1.1. US Market by Material Type
9.1.5.1.2. US Market by End-User
9.1.5.2. Canada market
9.1.5.2.1. Canada Market by Material Type
9.1.5.2.2. Canada Market by End-User
9.1.5.3. Mexico market
9.1.5.3.1. Mexico Market by Material Type
9.1.5.3.2. Mexico Market by End-User
9.2. EUROPE
9.2.1. Europe Market Overview
9.2.2. Europe Market Forecasts and Analysis
9.2.3. Europe Market Forecasts and Analysis - By Material Type
9.2.4. Europe Market Forecasts and Analysis - By End-User
9.2.5. Europe Market Forecasts and Analysis - By Countries
9.2.5.1. France market
9.2.5.1.1. France Market by Material Type
9.2.5.1.2. France Market by End-User
9.2.5.2. Germany market
9.2.5.2.1. Germany Market by Material Type
9.2.5.2.2. Germany Market by End-User
9.2.5.3. Italy market
9.2.5.3.1. Italy Market by Material Type
9.2.5.3.2. Italy Market by End-User
9.2.5.4. Russia market
9.2.5.4.1. Russia Market by Material Type
9.2.5.4.2. Russia Market by End-User
9.2.5.5. UK market
9.2.5.5.1. UK Market by Material Type
9.2.5.5.2. UK Market by End-User
9.2.5.6. Rest of Europe market
9.2.5.6.1. Rest of Europe Market by Material Type
9.2.5.6.2. Rest of Europe Market by End-User
9.3. ASIA PACIFIC (APAC)
9.3.1. Asia Pacific Market Overview
9.3.2. Asia Pacific Market Forecasts and Analysis
9.3.3. Asia Pacific Market Forecasts and Analysis - By Material Type
9.3.4. Asia Pacific Market Forecasts and Analysis - By End-User
9.3.5. Asia Pacific Market Forecasts and Analysis - By Countries
9.3.5.1. South Korea
9.3.5.1.1. South Korea Market by Material Type
9.3.5.1.2. South Korea Market by End-User
9.3.5.2. China market
9.3.5.2.1. China Market by Material Type
9.3.5.2.2. China Market by End-User
9.3.5.3. India market
9.3.5.3.1. India Market by Material Type
9.3.5.3.2. India Market by End-User
9.3.5.4. Japan market
9.3.5.4.1. Japan Market by Material Type
9.3.5.4.2. Japan Market by End-User
9.3.5.5. Australia market
9.3.5.5.1. Australia Market by Material Type
9.3.5.5.2. Australia Market by End-User
9.3.5.6. Rest of APAC market
9.3.5.6.1. Rest of APAC Market by Material Type
9.3.5.6.2. Rest of APAC Market by End-User
9.4. MIDDLE EAST AND AFRICA (MEA)
9.4.1. Middle East and Africa Market Overview
9.4.2. Middle East and Africa Market Forecasts and Analysis
9.4.3. Middle East and Africa Market Forecasts and Analysis - By Material Type
9.4.4. Middle East and Africa Market Forecasts and Analysis - By End-User
9.4.5. Middle East and Africa Market Forecasts and Analysis - By Countries
9.4.5.1. South Africa market
9.4.5.1.1. South Africa Market by Material Type
9.4.5.1.2. South Africa Market by End-User
9.4.5.2. Saudi Arabia market
9.4.5.2.1. Saudi Arabia Market by Material Type
9.4.5.2.2. Saudi Arabia Market by End-User
9.4.5.3. UAE market
9.4.5.3.1. UAE Market by Material Type
9.4.5.3.2. UAE Market by End-User
9.4.5.4. Rest of MEA market
9.4.5.4.1. Rest of MEA Market by Material Type
9.4.5.4.2. Rest of MEA Market by End-User
9.5. SOUTH AMERICA (SAM)
9.5.1. South America Market Overview
9.5.2. South America Market Forecasts and Analysis
9.5.3. South America Market Forecasts and Analysis - By Material Type
9.5.4. South America Market Forecasts and Analysis - By End-User
9.5.5. South America Market Forecasts and Analysis - By Countries
9.5.5.1. Brazil market
9.5.5.1.1. Brazil Market by Material Type
9.5.5.1.2. Brazil Market by End-User
9.5.5.2. Argentina market
9.5.5.2.1. Argentina Market by Material Type
9.5.5.2.2. Argentina Market by End-User
9.5.5.3. Rest of SAM market
9.5.5.3.1. Rest of SAM Market by Material Type
9.5.5.3.2. Rest of SAM Market by End-User
10. INDUSTRY LANDSCAPE
10.1. MERGERS & ACQUISITIONS
10.2. MARKET INITIATIVES
10.3. NEW DEVELOPMENTS
11. REINFORCEMENT MATERIALS MARKET, KEY COMPANY PROFILES
11.1. 3B - THE FIBERGLASS COMPANY
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products & Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. BASF SE
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products & Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. DUPONT
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products & Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. HONEYWELL INTERNATIONAL INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products & Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. JEC GROUP
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products & Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. NJR STEEL
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products & Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. OWENS CORNING
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products & Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SOLVAY
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products & Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. TEIJIN LIMITED
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products & Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TORAY INDUSTRIES, INC.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products & Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
- 3B - the fiberglass company
- BASF SE
- DuPont
- Honeywell International Inc.
- JEC Group
- NJR Steel
- Owens Corning
- Solvay
- TEIJIN LIMITED
- TORAY INDUSTRIES, INC.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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