The global high-performance fiber market size was US$ 5.9 billion in 2021. The global high-performance fiber market size is estimated to reach US$ 8.3 billion by 2030, growing at a compound annual growth rate (CAGR) of 4% during the forecast period from 2022 to 2030.
High-performance fibers have high tensile modulus and strength. Many of them are also known for their thermal resistance; they do not catch fire and protect against heat. Therefore, fabrics constructed from these fibers can be used for applications where protection against fire is required.
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Factors Affecting Marketing Growth
The increasing demand for the development of organic high-performance fibers is leading to the production of materials for different industries such as the automotive and aerospace industry that offer high tensile strength and higher thermal resistance driving the growth of the global market.
The increasing trend for the use of carbon fibers for turbine blades that help the blades to withstand higher pressure that is leading to the growing adoption of high-performance fibers driving the growth of the global market.
The non-biodegradable nature of high-performance fibers and the high manufacturing cost of the materials are limiting the adoption of these materials. This hinders the growth of the global market.
Increasing usage of high-performance fibers (HPF) in the reinforcement of composites for applications in military vehicles, aircraft, electronics, and sports goods is projected to drive the growth of the global market.
Impact on COVID-19 Analysis
COVID-19 had a negative impact on the growth of the global market as the demand for applications and end users that it is used by also declined. However, new R&D advancement in technology was hindered for some time. The global market started recovering after the vaccination was introduced and manufacturing activities were back on track.
Regional Analysis
Asia Pacific region led the market and accounted for the highest share of global revenue in 2021. It is also projected to register the highest CAGR over the forecast period due to the increase in demand for fiber-reinforced composite materials in the automotive, electronics, and construction sectors. Also, product developments, availability of raw materials at affordable prices, and setting up of manufacturing facilities by market leaders are anticipated to drive the global market in the region.
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Leading Competitors
The prominent players in the global high-performance fiber market are:
Yantai Tayho Advanced Materials Co. Ltd
Toray Industries
Toyobo Co. Ltd
Teijin Ltd
PB Performance Products
Sarla Performance Fiber Ltd
Mitsubishi Rayon Co. Ltd.
Freudenberg Performance Materials
INDORAMA VENTURES
Cytec Industries Inc.
Others
Segmentation Analysis
The global high-performance fiber market segmentation focuses on Product, Application, End User, and Region.
Segmentation on the basis of Product
Polybenzimidazole
Carbon fiber
Aramid
Others
Segmentation on the basis of Application
Sporting goods
Aerospace and defense
Automotive
Others
Segmentation on the basis of End User
Personal
Public
Others
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Segmentation on the basis of Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of High Performance Fibers market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the High Performance Fibers market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the High Performance Fibers market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate High Performance Fibers business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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