Europe Reinforcement Materials Market Forecast 2019-2028KEY FINDINGS
The Europe reinforcement materials market is predicted to grow with a CAGR of 5.94% in terms of revenue, and 4.03% in terms of volume, over the forecast period of 2019 to 2028. The key factors propelling market growth include the rising adoption of personal protective equipment, the penetration of new aircraft manufacturers, and the increased use of aramid fiber.
The United Kingdom, Russia, France, Poland, Belgium, Germany, Italy, and the rest of Europe are studied for evaluating the Europe reinforcement materials market growth. Strict regulations established by the EU Commission for protective equipment, to ensure the protection and safety of work personnel across numerous end-use industries in Germany, are expected to fuel the need for reinforcement materials in general, and aramid fibers in particular. The country’s regulations mandate using protective clothing in divisions, such as, construction, military, and chemical, as well. Moreover, the increasing use of aramid fiber as an alternative to steel and asbestos further augments the demand, thereby fuelling market growth.
On the other hand, the rising need for protection and security measures in Italy, integrated with continual research and development activities for manufacturing advanced personal protective equipment (PPE), especially by local and regional market players, are expected to propel the demand for reinforcement materials. Besides, the nation’s companies are largely investing in financial and energy resources, under the program termed, ‘Made in Italy.’ Thus, such factors are predicted to drive the region’s reinforcement materials market growth.
Some of the prominent companies operating in the market are, BASF, Honeywell International Inc, Toray Industries Inc, NFC Fibers GmbH, Bast Fibers LLC, etc.
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