Reinforcement Material Market Size, Business Trends, Competitive Outlook, Emerging Dynamics and Forecast to 2030 | Teijin Limited, Toray Industries, Inc.

Market Overview:

Reinforcement materials such as steel rebars, fibers, mesh, and other alloys are widely used in concrete structures for strengthening and improving their tensile strength. They are used in various applications such as buildings, roads, bridges, and other infrastructural developments.

Market Dynamics:

The reinforcement material market is expected to witness significant growth owing to rapid infrastructural developments across both developed and developing nations. Governments around the world are investing heavily in infrastructure projects such as roads, bridges, affordable housing, and commercial buildings which is fueling the demand for reinforcement materials. Additionally, growing construction of infrastructure to support green building initiatives is also driving the need for reinforcement materials made from recycled materials. The rising population has increased urbanization which is further propelling the construction activities and boosting the reinforcement material market growth during the forecast period.

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Major market players included in this report 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
★ NJR Steel Holdings (PTY) Ltd.

*Disclaimer: Major Players are sorted in no particular order.

Detailed Segmentation:

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

Regional Analysis:

⦿ North America (U.S. and Canada)
⦿ Latin America (Mexico, Brazil, Peru, Chile, and others)
⦿ Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
⦿ Eastern Europe (Poland and Russia)
⦿ Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
⦿ The Middle East and Africa (GCC, Southern Africa, and North Africa)

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✤ Two major market drivers for the reinforcement material market

• Increased demand from construction industry: The construction industry has seen tremendous growth over the past few years due to rapid urbanization and industrialization across major developing economies. Major infrastructure projects underway related to roads, highways, housing, commercial buildings etc. are driving up the demand for concrete and cement where reinforcement materials like rebars and mesh are essential ingredients. Their ability to enhance the strength and durability of structures continues to make reinforcement materials an integral part of the construction sector.

• Growth of renewable energy industry boosting wind energy installation: Renewable energy especially wind energy has seen massive investments globally as countries look to reduce their carbon footprint and dependence on fossil fuels. Wind turbines require strong reinforcement materials like fiberglass to withstand heavy loads and harsh weather conditions over their operational life of 20-25 years. Fiberglass reinforced polymer rebars are increasingly being used in constructing wind turbine foundations and towers owing to their corrosion resistance. The ambitious targets for installing new wind power capacity in both onshore and offshore areas are positively impacting the reinforcement materials market.

✤ One major market restrain for the reinforcement material market

• Volatility in raw material prices: Reinforcement materials rely heavily on raw materials like steel, concrete, fiberglass etc. which are subject to fluctuating prices depending on global demand-supply and economic conditions. Steel is a major raw material for conventional rebars whose prices saw upticks during the pandemic and ongoing Ukraine crisis hurting the margins of reinforcement manufacturers. Similarly, concrete prices tend to rise during construction booms. Any increase in key input costs puts pressure on the overall profitability of reinforcement producers unless passed on fully to customers which could impact their competitiveness. Price volatility in commodities remains a challenge for this industry.

✤ One major market opportunity for the reinforcement material market

• Growing use of fiber reinforced polymer (FRP) bars: Traditionally steel has been the dominant reinforcement material. However, FRP or fiber reinforced polymer bars made of fiberglass, carbon or aramid fiber are emerging as viable substitutes especially in highly corrosive environments. Their corrosion resistance, light weight, non-magnetic properties make FRP bars suitable for marine structures, wastewater treatment plants etc. Application areas are widening from bridges to parking garages to oil & gas industry infrastructure. Countries are funding research to develop affordable FRP rebar variants which will provide new growth opportunities amid growing infrastructure development across industries.

✤ One key market trend in the reinforcement material market

Rise of eco-friendly and sustainable reinforcement materials: With increasing focus on sustainability and reduction of carbon footprint across industries, reinforcement material producers are investing in R&D to develop green alternatives. Nature-based reinforcement made from agricultural waste biomass, alkali-activated cement using industrial byproducts are gaining attention. Materials like basalt fiber rebar have better thermal properties than steel without environmental impacts. Use of recycled plastics and post-consumer waste as aggregates in concrete is another area. Governments providing incentives for green building certifications will accelerate deployment of eco-reinforcement solutions paving way for a greener reinforcement market in coming years.

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FAQ'S:

👉 What is the expected growth rate of the market for the forecast period of 2023-2030? What will the market size be in the anticipated time frame?

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Table of Contents with Major Points:

1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2023-2030 (USD Billion)
1.2.1. Reinforcement Material Market, by Region, 2023-2030 (USD Billion)
1.2.2. Reinforcement Material Market, by Type, 2023-2030 (USD Billion)
1.2.3. Reinforcement Material Market, by Application, 2023-2030 (USD Billion)
1.2.4. Reinforcement Material Market, by Verticles, 2023-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

2. Global Reinforcement Material Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

3. Global Reinforcement Material Market Dynamics
3.1. Reinforcement Material Market Impact Analysis (2023-2030)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities

4. Global Reinforcement Material Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2023-2030)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion

5. Global Reinforcement Material Market, by Type
5.1. Market Snapshot
5.2. Global Reinforcement Material Market by Type, Performance - Potential Analysis
5.3. Global Reinforcement Material Market Estimates & Forecasts by Type 2023-2030 (USD Billion)
5.4. Reinforcement Material Market, Sub-Segment Analysis

6. Global Reinforcement Material Market, by Application
6.1. Market Snapshot
6.2. Global Reinforcement Material Market by Application, Performance - Potential Analysis
6.3. Global Reinforcement Material Market Estimates & Forecasts by Application 2023-2030 (USD Billion)
6.4. Reinforcement Material Market, Sub-Segment Analysis
6.4.1. Others

7. Global Reinforcement Material Market, by Verticles
7.1. Market Snapshot
7.2. Global Reinforcement Material Market by Verticles, Performance - Potential Analysis
7.3. Global Reinforcement Material Market Estimates & Forecasts by Verticles 2023-2030 (USD Billion)
7.4. Reinforcement Material Market, Sub-Segment Analysis

8. Global Reinforcement Material Market, Regional Analysis
8.1. Reinforcement Material Market, Regional Market Snapshot
8.2. North America Reinforcement Material Market
8.3. Europe Reinforcement Material Market Snapshot
8.4. Asia-Pacific Reinforcement Material Market Snapshot
8.5. Latin America Reinforcement Material Market Snapshot
8.6. Rest of The World Reinforcement Material Market

9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Keyplayer1
9.2.1.1. Key InDurationation
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments

10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes

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