Vietnam Reinforcement Materials Market Size, Sales Volume, Price, Growth Rate Analysis Report 2018-2024

According to the Vietnam Reinforcement Materials Market report published by the Allied Market Research, the study presents impending revenue forecast of the industry for the next few years coupled with imminent market trends and opportunities. Moreover, the study also doles out different logical tables and graphs to identify the complexities of the market.

The Vietnam reinforcement materials market was $49,453 thousand in 2017 and is expected to reach $84,478 thousand by 2024, expanding at CAGR of 7.9% from 2018-2024.

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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.

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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.

Key Findings of the Vietnam Reinforcement Materials Market:

- 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.

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The market report is analyzed across Type, Application, End-Use, and Region. By Type Glass Fiber, Roving, Woven Roving, Fabrics, CSM/CFM, Chopped Strand, Others, Carbon Fiber, Woven Fabric, Thermoset UD Prepreg, Thermoset Fabric Prepreg, Thermoplastic Prepreg, Raw Fiber, Molding Compounds, Others other By Application, The Market Is Construction, Residential, Infrastructure, Industrial, Others.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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