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Vietnam Reinforcement Materials Market Growth Analysis towards 2024
Vietnam Reinforcement Materials Market
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Reinforcement materials form composites where a homogeneous matrix component is fortified by a robust additive that is usually fibrous in nature. Sustainability and structural strength of reinforcement materials has made it ideal for use in automotive, consumer goods, marine products, and construction among other markets. Reinforcement materials are lighter in weight as compared to individual components, resulting in increased applications in the automotive, aerospace & defense, and construction industries. However, the high production cost of reinforcement materials could hamper the growth of the market. Technological advancements in the carbon and aramid fiber molding processes, have created numerous growth opportunities for the market players.
Based on material type, market is divided into glass fiber (roving, woven roving, fabrics, CSM/CFM, chopped strand, and others), carbon fiber (woven fabric, thermoset UD prepreg, thermoset fabric prepreg, thermoplastic prepreg, raw fiber, and molding compounds), and others. Glass fibers accounted for around two-thirds of the reinforcement materials industry revenue in 2017. The roving materials segment dominated the glass fibers market, generating nearly one-fourth of the total reinforcement materials industry revenue in the same year.
Key end user industries include construction, and others. Construction segment further sub classified as residential, infrastructure and industrial. Construction segment will show fastest market growth over the forecast period, owning to rapid urbanization, industrialization and developing economic conditions.
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Key Benefits
•This report provides an extensive analysis of the current trends and forecasts estimations and dynamics in the reinforcement materials industry in Vietnam.
•Comprehensive analysis of factors that drive and restrain the growth of the Vietnam reinforcement materials market share is provided in the report.
•It offers a quantitative analysis from 2017 to 2024, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
Vietnam Reinforcement Materials Market Key Segments:
By Material Type
•Glass Fiber
oRoving
oWoven Roving
oFabrics
oCSM/CFM
oChopped Strand
oOthers
•Carbon Fiber
oWoven Fabric
oThermoset UD Prepreg
oThermoset Fabric Prepreg
oThermoplastic Prepreg
oRaw Fiber
oMolding Compounds
•Others
By End User
•Construction
oResidential
oInfrastructure
oIndustrial
•Others
Vietnam reinforcement materials market is dominated by medium and large-scale manufacturers such as Vietnam Steel Corporation, vibuma, Central Glass Co., Ltd., Lanxess AG, International Standards Trading Vietnam Co. ltd., Posco SS-Vina, Co. Ltd., and QH Plus Corporation.
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