Reinforcement Material Market- Industry Insights and Opportunity Analysis, Forecast 2024

Reinforcement provides improved and tailored material properties with manufacturing flexibility. Particulate composite reinforcements are also used in conventional engineering methods such as injection molding, which has resulted in overall reduction in operational costs. Natural fibers such as flax, jute, kenaf, hemp, and sisal offer various benefits such as reduction in weight, cost, and recyclability. Reinforcements are used in composite materials to enhance properties such as stiffness and strength. Depending on the alumina-lime-borosilicate composition, glass fibers are considered the major reinforcements for polymer matrix composites, owing to properties such as low susceptibility to moisture, high electrical insulating properties, and superior mechanical properties.
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Sheet structures of reinforced materials are used as heat shields, insulation shields for spark plug leads, and turbocharger hoses. Reinforcement materials are used in tires for trucks and cars, owing to properties such as superb abrasion, puncture and tear resistance resulting in long life. Military applications of reinforcement include a lightweight armor solution for protection against ballistic attacks. Continuous reinforcements are used in non-prestressed reinforced concrete for improving the load-carrying capability of the structure by providing high tensile strength and discontinuous reinforcements are added to improve the toughness needed to alter crack paths and cracking mechanisms.
Reinforcement Material Market Taxonomy
On the basis of material, the global market is segmented into:

• Carbon fiber
  
• Glass fiber
  
• Natural fiber
  
• Aramid fiber
  
• Steel rebar
  

On the basis of end use industry, the global market is segmented into:

• Automotive
  
• Aerospace
  
• Consumer goods
  
• Construction
  
• Transportation
  

In automotive application, glass reinforced plastics are widely used in bumpers, dashboards, body panels and intake manifolds. Brakes are manufactured from particulate composite consisting of carbon or ceramics particulates. Various plastic components are used in consumer products such as appliances, computer housings, toys, electrical products, cell phone casings, helmets, and office furniture. Natural fiber composites consisting of thermoplastic and thermoset matrices are used for door panels, seat backs, headliners, package trays, dashboards, and interior parts. Carbon fibers are made from organic precursors, including PAN (polyacrylonitrile), rayon, and pitches and offer highest stiffness, and strength among all the reinforcement materials.
Reinforcement Material Market Outlook – Need for Robust materials Expected to Boost Demand
Asia Pacific is one of the major contributors to the global reinforcement material market. Rapidly flourishing urbanization and modern infrastructure coupled with increasing investments in high end for products for defense sector in emerging economies such as India and China has boosted the growth of reinforcement material in the region. According to IBEF, the Indian construction industry is associated with many foreign investors such as Hines (USA), Emaar Properties (UAE), Veolia (France), Alstom (France), Aqualyng AS (Norway), Ascendas (Singapore), Tishman Speyer (USA), The Trump Organization (USA), Hydro-Comp Enterprises (Cyprus), GIZ (Germany). This will give rise to new opportunities for the manufacturers in the reinforcement material market. India Brand Equity Foundation (IBEF) is a Trust established by the Ministry of Commerce and Industry, Department of Commerce in collaboration with the Government of India with the purpose of promoting and creating international awareness of goods manufactured in India.
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High initial price is one of the restraining factors for the reinforcement material market globally. Product innovation and increasing global reach are some of the strategies adopted by the top players in the reinforcement material industry. Research is being made on developing conductive reinforcements in plastics. Some of the companies operating in the global reinforcement material market are Teijin Limited, Toray Industries, Inc., Cytec Industries Inc., Honeywell International, Inc., Bast Fiber LLC, AgroFiber SAS, NFC Fibers GmBh, E. I. du Pont de Nemours and Company, 3B-The Fiberglass Company, Owens Corning, BASF SE, Jushi Group Co., Ltd., Mitsubishi Rayon Co. Ltd., Hyosung Corporation, and NJR Steel Holdings (PTY) Ltd.
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