High Performance Fibers Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2147
High Performance Fibers Market Size is expecting noticeable growth owing to increasing applications in end use industries such as building and construction, defense, automotive, electronics & communication and textile industry. Strong application outlook for products offering superior strength, heat and chemical resistance will drive the overall high performance fibers market growth.
High performance fibers are technically driven products as compared to conventional counterparts offering enhanced tensile strength and higher modulus of elasticity. Owing to superior properties the product is widely utilized in various applications requiring continuous and strong axial bonding.
Growing demand for products with wide range of operating temperature along with offering superior chemical resistance along with light weight requirement will propel the high performance fibers market growth. Production capacity of these are highly dependent on the application requirement whereas conventional products are highly price competitive.
Expansion of product outlook in circuit boards, ballistics, sports equipment and composites offering superior durability, flexibility, interactive polymer chains and enhanced rigidity to the structure will drive the product demand. In addition to this, easy reinforcement of the products with composites will further support the high performance fibers market growth.
Recycling issues along with fluctuating raw material prices may affect the industry growth. Industry players are focusing on increasing production capacity along with reducing the procurement cost of the raw material and cost involved in production.
High performance fibers market can be segmented based on the product as glass, PBI, carbon fiber, ceramics, PPS, PE and aramid. Carbon fibers is expected to witness strong growth during forecast timeframe owing to increasing application scope of the product in various industries such as aerospace, defense and automotive industries.
Depending on the applications, high performance fibers market can be segmented as aerospace and defense, automotive, electronics and communication, construction, sport goods, textile and construction industries. Aerospace and defense applications is estimated to hold major share during the forecast timeframe. The product is widely utilized in manufacturing internal and external aircraft components owing to higher weight to strength ratio.
Aramid exhibit higher tensile strength and thermal resistance owing to superior chemical linkage similar to benzene structure. In addition to this, these are easily blended with other products offering enhanced properties. Aramid are utilized in textile for manufacturing body armor and bullet proof vests owing to superior impact resistance property.
Increasing application scope in automotive industry owing to properties such as light weight and superior strength offering will drive further drive the high performance fibers market growth. Stringent regulation regarding weight reduction required in automotive application with superior fuel efficiency will positive influence the high performance fibers penetration.
Asia Pacific is estimated to dominate overall high performance fibers market owing to wide usage of the products in automotive, construction, aerospace & defense and electronics & telecommunication industries. Strong product outlook offering superior strength and temperature resistance properties will boost the overall industry growth.
North America is expected to witness significant growth during the forecast timeframe owing to strong presence of manufacturers in the region focusing on the business expansion. Moreover, presence of end-user industries dealing in aerospace and defense such as Boeing will further support the high performance fibers market demand.
Europe driven by Germany, UK, France, Italy and Russia is expected to observe steady growth during the forecast timeline owing to increasing advancement in automotive applications. In addition to this, stringent government regulations focusing on increasing efficiency will influence the product penetration.
Few key high performance fibers market players include Toray Industries Inc., E. I. Du Pont De Nemours and Co., Owens Corning, Kureha Corporation, PBI Performance Products, Inc., Zoltek Companies Inc., Teijin Ltd., Mitsubishi Rayon Co., Ltd., Cytec Industries Inc., Yantai Tayho Advanced Materials Co., Ltd. and Koninklijke Ten Cate NV. Manufacturers are focusing on improving the supply chain sufficing the product demand.
Other notable high performance fibers market include PHP, Bally Ribbon Mills, Intertech Group, W. L. Gore & Associates Inc, Bluestar Company Ltd., Honeywell International, AGY Holding Corp., Binani Group and Taekwang Industries Co. Ltd. Improving the regional presence along with investing in research and development improving the application scope are among the key strategies adopted by the manufacturers.
Manufacturers are focusing on the recycling issues of the product. Higher investment regarding new product development and optimum manufacturing process are among the major strategies implemented by the manufacturers. Long term supply contract along with optimized product development sufficing the application requirement will further boost the foothold of the industries.
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