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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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