Reinforced Compounds Market is Forecasted to Reach US$ 25 Billion in 2027, Says Stratview Research

Stratview Research, a global market research firm, has launched a report on the global reinforced compounds market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more

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Market Statistics:

Market Size in 2027: US$ 25 billion

Growth (CAGR): 7.7% during 2022-2027

Leading Material Type: SFT (Short Fiber Thermoplastic)

Leading End-Use Industry Type: Transportation

Leading Resin Type: Polyamide

Leading Region: Asia-Pacific

Forecast Period: 2022-2027

Trend Period: 2016-2020

Base Year: 2021

Number of Segments Covered: 5

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights on the Reinforced Compounds Market:

The global reinforced compounds market is segmented based on material type, end-use industry type, resin type and region.

Based on material type – The market is segmented as GMT (Glass Mat Thermoplastic), BMC (Bulk Molding Compound), SMC (Sheet Molding Compound) LFT (Long Fiber Thermoplastic), SFT (Short Fiber Thermoplastic), and CFT (Continuous Fiber Thermoplastic). SFT holds the market dominance and is estimated to maintain its lead in the years to come, in terms of both, value and volume. SMC is the next largest market after SFT, followed by LFT. LFT is projected to record the fastest long-term growth during the forecast period, driven by an increased acceptance in the automotive industry. Some of the advantages offered by LFT are high strength (particularly at high temperatures), excellent resistance to long-term loads, and high fatigue resistance.

Based on end-use industry type - The market is classified into aerospace & defense, transportation, consumer goods, electrical & electronics, construction, and others. Transportation is expected to remain the biggest demand generator of reinforced compounds in terms of both value and volume in the foreseen future. The past decade has been the most evolving for automakers with the industry rapidly moving ahead in several directions, mainly triggered by several macro-environmental factors, such as carbon emission reduction targets. The impact of such trends was quite visible on the market dynamics of material content per vehicle. There has been a paradigm shift towards the use of lightweight materials, more specifically composites, in vehicles across regions. Reinforced compounds have been the choice of materials in several applications.

Based on resin type – The market is segmented as polyester, PP (polypropylene), PA (Polyamide), PBT (polybutylene terephthalate), PPS (Polyphenylene sulfide), PC (Polycarbonate), and others. Polyamide is expected to remain the most preferred resin type in the reinforced compounds market during the forecast period. PA resin is widely used in SFT, whereas polyester in SMC and BMCs. PA resin offers excellent temperature- and electrical-resistant properties and is widely used in major markets, such as transportation, consumer goods, and electrical & electronics. Some commonly used polyamides are PA11, PA12, PA46, PA6, and PA66.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest as well as the fastest-growing market for reinforced compounds over the forecast period. This growth outlook is majorly attributed to the following–

·      China, Japan, South Korea, and India are the major markets for reinforced compounds in the region and are anticipated to maintain their dominance in the region’s market in the years to come.

·      The introduction of stringent regulations is leaving no options before automakers except to incorporate lightweight materials in their vehicles. Reinforced compounds remain the priority of all the leading automakers.

Likewise, North America and Europe are also likely to create significant demand during the forecast period. The USA and Mexico are the major markets in North America, whereas Germany, France, the UK, and Russia are the major markets in Europe.

Reinforced Compounds Market Drivers:

Some of the key drivers listed in the report are given below.

·      Expected recovery of the major end-use markets in the post-pandemic developments paired with an incessant increase in the penetration of reinforced compounds favored by stringent regulations remains the market driver.

Top Companies in the Reinforced Compounds Market:

Reinforced compounds comprise several sets of products. Most of them compete with each other in specific applications but are entirely different in terms of product type, raw materials, manufacturing process, etc. Most of the companies have a presence in one or two types of reinforced compounds, again, sticking to either thermoset compounds or thermoplastic compounds. It is extremely important to understand the competitive landscape of each compound type in order to understand the overall market competitive landscape. Stratview Research has identified the following companies as the top market players:

• SABIC
• DuPont
• BASF SE
• DSM N.V.
• Covestro AG
• Hanwha Corporation
• Huayuan Advanced Materials Co., Ltd. (HAMC)
• Teijin Limited
• Polynt S.p.A.
• Solvay S.A.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the market, answering critical questions like

-      How big is the sales opportunity?

-      Which regions offer the best sales opportunities?

-      Which are the most attractive market segments?

-      Which are the top players and their market positioning?

-      How complex is the business environment?

-      What are the factors affecting the market?

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Related Reports:

-      Long Fiber Thermoplastics Market

-      Short Fiber Thermoplastic Market

About us –

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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