The High Performance Fibers Market was valued at $14.23 Billion in 2018 and is forecast to grow at a modest 11.6 % CAGR between 2018 and 2025, culminating in 2026 global sales of $22.92 Billion.
Industry at a Glance
High-performance fibers are those fibers that are processed for specific uses that require exceptional weight to strength ratio, stiffness, heat resistance, robustness, resistance to tear, electrical conductivity, and also chemical resistance. High-Performance Fibers are better than synthetic fibers as the former have more suitable chemical and physical properties.
This market is propelled by factors, such as the rising demand for lightweight and fuel-efficient materials, increasing usage of high-performance fibers in the renewable energy market, and growing demand for greater safety & security.
It is playing a crucial role in the global manufacturing sector such as high temperature exhibited and resistance to corrosion. Owing to its properties of high-performance fibers they are used in different end-users’ industries like buildings & construction, aerospace, automotive, defense & military, marine, energy, medical and healthcare, and electronics & telecommunication.
Due to some toxicity issues regarding the production of carbon boosted fiber composites may adversely affect the market. However, the development of fuel efficiency and emission reduction in vehicles and aircraft due to the application of high- performance fiber is anticipated to help the industry over the forecast period.
“Optimal Price Point (OPP) for Global High- Performance Fibers”
Estimated Average product/ service cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Due to the wide array of products available in the market, pricing, positioning, and sales channel optimization play a vital role in the success of a product. On average, in Global High- Performance Fibers are available at USD xxx- USD xxxx. However, high-end products are available at much higher prices. The prices in emerging countries and developed countries vary significantly due to the difference in purchasing power and availability of the latest products.
Global High- Performance Fibers Market by “Product Categories”
We have segmented the Global High- Performance Fibers-based on Product categories as Carbon, Polybenzimidazole (PBI), Aramid, M5/PIPD, polybenzoxazole (PBO), Glass, High Strength Polyethylene, and Other Fibers.
We have observed the rapid growth of High- Performance Fibers followed by carbon fiber has led the market with a share of 28.3% in 2018 and is expected to propel the market growth over the forecast period. This segment widely used in rockets, missiles, aircraft, and satellites owing to its lightweight and stiffness properties.
We also noticed the Polybenzimidazole (PBI) segment anticipated to drive the market with a CAGR of 15.8% from 2018 to 2026.
Global High- Performance Fibers Market by “Application Categories”
We have segmented the Global High- Performance Fibers-based on Application Categories as Aerospace & Defense, Construction & Building, Electronics & Telecommunication, Textile, Automotive, Sporting Goods, and Others.
We have observed the rapid growth of High- Performance Fibers followed by the Aerospace & Defense segment with a CAGR of 13.21% in 2018 and is estimated to grow during the prediction period. Basically, the fighter plane material is made of lightweight, high strength and stiffness at a reduced weight, significantly reducing the fuel consumption.
We also noticed the automotive segment anticipated to drive the market with a CAGR of 12.7% from 2018 to 2026.
North America and Asia Pacific accounted for the maximum revenue share of over xx% in 2018 due to increased demand for Global High- Performance Fibers followed by EU- Top 5 countries contribute $X.9 Billion in 2018 and expected to reach $x.5 Billion by 2026.
The North America market was accounted for $ 4.2 billion in 2018, due to the high demand for these fibers from its established automotive and aerospace and defense sectors. Aerospace and defense are expected to remain dominant and one of the fastest-growing segments in the high-performance fibers market during the forecast period.
The Asia-Pacific high-performance fiber market is projected to grow at the highest CAGR of 12.45% from 2018 to 2026. This region is a major consumer of high-performance fibers, which are used in varied applications, such as electronics & telecommunication, textiles, aerospace & defense, construction & building, automotive, and sporting goods, among others. The demand for high-performance fibers is increasing in different countries, such as Japan, Hong Kong, China, India, and Indonesia.
“Competitive Landscape” and “Merger & Acquisition Insights”
The key market participants are Teijin Ltd., E. I. du Pont Nemours and Company, Yantai Tayho Advanced Materials Co., Ltd., Cytec Industries Inc., Mitsubishi Rayon Co., Ltd., Owens Corning, PBI Performance Products, Inc., Koninklijke Ten Cate NV, Kureha Corporation, and Toray Industries, Inc. are few major players in Global High-Performance markets. The Global High- Performance Fibers market is fragmented with a large number of global & local players. Merger &Acquisitions, collaborations & new products launch are some of the major strategies adopted by key market players. Apart from this innovation & new product development are major focus areas for dominant companies.
Global High- Performance Fibers Market by End-Use categories (Revenue, Million, 2018 – 2026)
- Polybenzimidazole (PBI)
- Polybenzoxazole (PBO)
- High Strength Polyethylene
- Other Fibers
Global High- Performance Fibers Market by Application Categories (Revenue, Million, 2018 – 2026)
- Aerospace & Defense
- Construction & Building
- Electronics & Telecommunication
- Sporting Goods
Global High- Performance Fibers Market Regional Outlook (Revenue, USD Million, 2018-2026)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
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