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High Performance Fibers Market 2020: Global Industry Analysis By Size, Share, Growth, Trends And Forecast To 2026

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the High Performance Fibers market.

Trusted Business Insights presents an updated and Latest Study on High Performance Fibers Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the High Performance Fibers market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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Industry Insights, Market Size, CAGR, High-Level Analysis: High Performance Fibers Market

The global high performance fibers market size was estimated at USD 12.2 billion in 2018, and is expected to exhibit a revenue-based CAGR of 11.0% from 2019 to 2025. Increasing usage of high performance fibers (HPF) in reinforcement of composites for applications in military vehicles, aircrafts, electronics, and sports goods is projected to the drive the industry growth over the forecast period.
Some of the high performance fibers provide superior features such as high thermal and chemical resistance to most of the organic solvents, high abrasion resistance, non-conductivity and good fabric integrity at elevated temperatures. In addition, the product offers superior strength to weight ratio and offer high rigidity, thereby providing high utility in aerospace applications.

The HPF market is subjected to the stringent rules and regulations regarding the use of materials followed by the aircraft manufacturers. The regulations regarding usage of materials, processing and transportation, and waste disposal are implied by authorities such as Federal Aviation Association (FAA), Federal Aviation Regulations (FAR), EPA, REACH, and OSHA
Increasing technological advancements in use of additive manufacturing in aerospace production is expected to open new avenues for high performance fiber market. Players in the market are focusing on research and development of HPF reinforced composites in order to increase their strength owing to growing demand for lightweight materials.
The HPF is increasingly substituting asbestos in bullet proof jackets, tires, belts, concrete reinforcing, and heat resistant cushions. In addition, they also find applications in wind power generator blades, ropes, and fishing nets. The cut, thermal, chemical, and abrasion resistance offered by these fibers also enhances its utility in the manufacturing of protective gloves and mooring ropes.
Toxicity issues concerning the production of carbon reinforced fiber composites (CFRC) may negatively influence the market. However, enhancement of fuel efficiency and emission reduction in vehicles and aircrafts owing to application of high performance fiber is expected to benefit the industry over the next seven years.

Product Insights of High Performance Fibers Market

Carbon fiber dominated the overall market in 2018, accounting for 25.2% of the industry owing to wide range of applications in the aerospace industry including aircrafts, rockets, satellites, and missiles. In addition, rising penetration of carbon fiber reinforced composites across several aircrafts components owing to lightweight and rigidity properties is expected to drive the demand.
Carbon fiber structures weigh half of its steel counterparts and around one third of aluminum. However, usage of CFRC costs significantly more than metals. Exorbitant cost linked with this product variant has restricted its consumption primarily to performance vehicles such as jet fighters, spacecraft, racing cars, sports cars, racing yachts, and notably Airbus and Boeing airlines.
The polybenzimidazole (PBI) fibers segment is expected to register a revenue-based CAGR of 14.5% over the forecast period, owing to superior properties offered by the product such as increased glass transition temperature, no melting point, and extremely increased heat deflection temperature. PBI fibers are finding applications in several products including heat and safety garments such as firefighter uniforms and safety gloves.
PBI fibers are widely used for several applications with other fibers like Kevlar. These variants exhibit high flexibility, low moisture regain, low tenancity, superior strength to weight ratio and doesnot melt and burn. They are also used in plastic reinforcements for chemical and heat resisstant filters and also for several civil engineering applications.

Application Insights of High Performance Fibers Market

The aerospace and defense application segment is expected to witness a revenue-based CAGR of 12.1% from 2019 to 2025 as the industry is moving towards lightweight materials in an attempt to improve the cost-efficiency and environmental performance of the aircraft. In addition, growing production of aircrafts in the wake of rising passenger traffic is expected to drive growth.
Lightweight materials and structures provide an advantage in aerospace applications as it offers high strength and stiffness at a reduced weight, substantially reducing the fuel consumption. These materials enable to carry more fuel and payload, thereby increasing mission duration and idle time for aircraft in case of military aircrafts.

Increasing carbon fiber demand in the automotive industry is expected to drive market for HPF over the forecast period. Increasing fuel prices have triggered the need for fuel-efficient vehicles. Presently, a substantial number of vehicles/cars run on conventional fuel technology, which has stimulated an escalation in fuel efficient vehicles demand.
The automotive application segment is projected to register a revenue-based CAGR of 11.5% over the forecast period on account of rising use of fiber reinforced composite materials in the industry due to curb weight reduction trends. Reduction in curb weight drastically increases fuel efficiency and reduces vehicular pollution.

Regional Insights of High Performance Fibers Market

The North America market was valued at USD 3.6 billion in 2018, as the region contributes immensely to the demand for the product owing to the presence of key aircraft manufacturers. Also, the industry in the region is expected to witness positive growth trends owing to rising defense expenditure in the region, especially in the U.S.
Stringent regulations laid down by various regulatory bodies such as HSE, ANSI, and state bodies pertaining to the security and protection measures of workers in various industries are driving the demand for protective clothing since past few years. This is likely to be a key factor for the growth of the market over the forecast period.
Asia Pacific is also projected to register a revenue-based CAGR of 11.3% over the forecast period owing to the rise in the demand for the fiber reinforced composites materials in the automotive, electronics, and construction industry. Also, the product developments, availability of the raw materials at affordable prices and setting up of manufacturing facilities by market leaders is expected to drive the market.
Growing need for security and protection measures in various end-use industries such as oil and gas, mining, manufacturing, healthcare/medical, military and building and construction, are fueling the product use in major economies such as China and India. Also, increasing usage of high performance fibers as an alternative to asbestos and steel is likely to drive the market.

Market Share Insights of High Performance Fibers Market

Competitive rivalry among manufacturers of HPF is increasing as the market is characterized by the presence of a large number of global and regional players. Raw material suppliers play a crucial role in the value chain as they provide basic raw materials required to initiate the manufacturing process of various fibers.
The high production cost of PBO, PBI, M5/PIPD, and aramid fibers is challenging the growth and profitability of the market for HPF across the world. Other than notable production cost, initial capital investment, and monomer supply are further anticipated to pose a challenge to capacity expansion of the aforementioned fibers over the forecast period.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of High Performance Fibers Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global high performance fiber market report on the basis of product, application, and region:

Product Outlook (Volume, Tons; Revenue, USD Million, 2019 – 2030)

Carbon Fiber

Polybenzimidazole (PBI)

Aramid Fiber

M5/PIPD

Polybenzoxazole (PBO)

Glass Fiber

High Strength Polyethylene

Others

Application Outlook (Volume, Tons; Revenue, USD Million, 2019 – 2030)

Electronics & Telecommunication

Textile

Aerospace & Defense

Construction & Building

Automotive

Sporting Goods

Others

 

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High Performance Fibers Market Current Situation And Growth Forecast to 2015 to 2021

The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.

They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.

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High performance fibers are those fibers which offer exceptional strength, heat and chemical resistance. High performance fibers are niche products but some of them are manufactured in large quantities according to the demand from end-user industries. High performance fibers offer various properties such as fire resistance, high elongation, high tension and insulation among others. High performance fibers include various fibers such as aramid fibers, carbon fibers, melamine fibers, polybenzimidazole fibers (PBI), fluoropolymer fibers, polyphenylene sulfide fiber (PPS), ceramic fibers and HDPE fibers among others. Due to unique properties of high performance fibers they are used in various end-user industries such as aerospace, automotive, buildings & construction, marine, energy, defense & military, electronics & telecommunications and medical & healthcare among others. Glass and carbon fibers are commonly preferred high performance fibers across various end-user segments.

The market for high performance fibers was mainly driven by end-user industries such as aerospace, automotive, buildings and construction and electronics among others. In aerospace industry, high performance fibers such as carbon fibers, aramid fibers and ceramic fibers are used to enhance the performance of the engine. High performance fibers offer lighter weight to the components thus increasing the fuel efficiency of the engine. High performance fibers also increase the durability of the components. In defense and industry, high performance fibers such as aramid fibers and carbon fibers are used in manufacturing of composites which are used in vehicles and vessels. High performance fibers are also used in manufacturing of armors and jackets. In textile industry, high performance fibers are used in manufacturing of technical textiles which requires fire and chemical resistance. In electronics & telecommunication, high performance fibers are used in fiber optics and electronic circuits. In spite of so many applications in various industries, higher prices and recycling issues associated with high performance fibers are expected to hider the growth of the market in next few years.

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In 2013, Asia Pacific had the highest demand for high performance fibers market. Asia Pacific is also anticipated to be the fastest growing markets for high performance fibers due to increasing demand from aerospace, electronics & communication and textiles among others. China led the demand for high performance fibers in Asia Pacific region. India, Taiwan, Japan and South Korea are likely to exhibit higher demand for high performance fibers over the forecast period. Asia Pacific was followed by North America. Huge demand from defense & military and aerospace industry has been driving the market for high performance fibers in this region. In 2013, U.S. exhibited the highest demand for high performance fibers in North America. Europe had the third-largest demand for high performance fibers market in 2013. Rising demand for high performance fibers from defense & military industry has been driving the market for high performance fibers in Europe. Germany, Italy, the UK are one of the largest consumers of high performance fibers in this region. Rest of the World market is anticipated to show stable demand for the high performance fibers market in near future. Latin America and the Middle East are projected to show encouraging signs for the high performance fibers market in upcoming years.

Some of the key manufacturers in the high performance fibers market are

  • I. du Pont de Nemours and Company
  • Toray Industries Inc.
  • Zoltek Companies Inc.
  • Teijin Ltd.
  • Kamenny Vek and Koninklijke Ten Cate nv

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