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.

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.

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.

Key Developments

  1. Major companies in the global market are adopting various business strategies such partnership and collaboration, in order to expand their market presence. For instance, in Teijin Limited, a Japanese automotive composites specialty company, and Continental Structural Plastics Holdings Corporation launched extra-light automotive side-door module. The module is made from carbon fiber sheet molded compound (SMC), unidirectional glass reinforced plastics, glass fiber SMC.
  2. Key players in the market are focused on various growth strategies such as marketing, in order to gain competitive edge in the market. For instance, in March 2018, Owens Corning, a global producer of glass fiber reinforcements, participated in JEC World 2018 and showcased its products namely composites made of glass fiber reinforcement at ‘Make Things Impossible’ event.
  3. Key companies in the market are involved in various growth strategies such as new product launches, in order to enhance their product portfolio. For instance, in July 2018, HighFlow Industries, launched HighFlow wind reinforcement fabrics for blade manufacturing. According to the company, it is made up of high-performance reinforcement fabrics.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users