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Reinforcement Materials Market Expected to Reach $22,826 Million by 2022

Global reinforcement materials market was valued at $13,020 million in 2015, growing with a CAGR of 8.4% to reach $22,826 million by 2022

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Reinforcement Materials Market Expected to Reach $22,826 Million by 2022

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  1. Reinforcement Materials Market

  2. Though glass fibers are widely used in construction and automotive applications due to their structural properties and versatile utility, with the decrease in prices and increase in technological advancements, coupled with the development of better recyclable procedures, the consumers are expected to align their preference towards carbon and aramid fibers. Reinforcement Materials Market is expected to garner $22,826 million by 2022 from $13,020 million in 2015, with a CAGR of 8.4% from 2016 to 2022. In terms of revenue, carbon fiber and aramid fiber material are expected to grow ata CAGR of 12.0% and 8.8%, respectively, during the forecast period. Get Sample Report

  3. The factors driving the reinforcement materials market include light weight of carbon fibers, low cost of glass fiber, particle reinforcement materials production, and rise in demand for light weight fibers from the aviation & automotive sector. Glass fibers accounted for around two-thirds of the reinforcement materials industry revenue in 2015. The roving materials segment dominated the market, generating nearly one-fourth of the total reinforcement materials industry revenue in the same year. Sporting goods end-user segment is expected to witness the fastest growth, owing to the rise in demand for lightweight and durable materials in the various sports.

  4. Germany dominated in the European reinforcement Europe accounted for more than one-fourth share of the reinforcement materials market, in volume terms, with a CAGR of 8.2% during the forecast period. Though Asia-Pacific is projected to continue to dominate the global reinforcement materials market, North America will grow at a high CAGR of 8.4% from 2016 to 2022.

  5. Key Findings of the Reinforcement Material Market: • Though Asia-Pacific is projected to continue to dominate the global reinforcement materials market, North America will grow at a high CAGR of 8.4% from 2016 to 2022. • Europe accounted for more than one-fourth share of the reinforcement materials market, in volume terms, with a CAGR of 8.2% during the forecast period. • Germany dominated in the European reinforcement materials market, and is expected to grow at a CAGR of 8.2% during the forecast period. • Construction and transportation end user segments dominated the reinforcement materials industry together with over half the revenue share in 2015. • Thermoset UD Prepreg materials segment dominated the carbon fiber reinforcement materials market in 2015, and is estimated to grow at a CAGR of 11.9% during the forecast period. • Construction and transportation end user segments dominated the reinforcement materials industry together with over half the revenue share in 2015.

  6. The prominent players profiled in this report include 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, BASF SE, Owens Corning, 3B-The Fiberglass Company, Jushi Group Co., Ltd., Bast Fiber LLC, AgroFiber SAS, NFC Fibers GmBh, and NJR Steel Holdings (PTY) Ltd.

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