DUBLIN--(BUSINESS WIRE)--The "Vietnam Reinforcement Materials Market by Material Type, and End User - Opportunity Analysis and Industry Forecast, 2018-2024" report has been added to ResearchAndMarkets.com's offering.
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.
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.
- Vietnam Steel Corporation
- Central Glass Co., Ltd.
- Lanxess AG
- International Standards Trading Vietnam Co. ltd.
- Posco SS-Vina, Co. Ltd.
- QH Plus Corporation
Key Topics Covered:
2 Executive Summary
3 Vietnam Reinforcement Materials Market, By Material Type
4 Vietnam Reinforcement Materials Market, By End User
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