High Performance Fibers Market Research, 2031
The global high performance fibers market size was valued at $11.3 billion in 2021, and is projected to reach $23.2 billion by 2031, growing at a CAGR of 7.4% from 2022 to 2031. 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 provide protection against heat. Therefore, fabrics constructed from these fibers can be used for applications where protection against fire is required.
The growing demand for the development of organic high performance fibers is leading to production of materials for different industries such as automotive and aerospace industry that offers high tensile strength and higher thermal resistance. Hence, this is the major factor driving the high performance fibers market growth. In addition, growing trend for the use of carbon fibers for the turbine blades that help the blades to withstand higher pressure that is leading to growing adoption of the high performance fibers.
However, non-biodegradable nature of high performance fibers and the high manufacturing cost of the materials are limiting the adoption of these materials. This is a major restraint of high performance fibers industry.
Furthermore, during the outbreak of the COVID-19 pandemic, construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were halted or restricted. This led to decline in manufacturing of various equipment used for high performance fibers as well as their demand in the market, thereby restraining the growth of the high performance fibers market share. Conversely, industries are gradually resuming their regular manufacturing and services. This is expected to lead to re-initiation of high performance fibers companies at their full-scale capacities that helped the market to recover by end of 2021.
On the contrary, growing presence of the Steller industry is leading to adoption of high performance fibers for development of semiconductors. Thus, this is expected to offer new high performance fibers market opportunity.
The high performance fibers market is segmented into Product, Application and End user. On the basis of product, it is classified into carbon fiber, aramid, polybenzimidazole and others. By application, it is divided into aerospace & defense, automotive, sporting goods and others. By end user, it is segmented into personal, public and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of product, in 2021 the carbon fiber segment dominated the high performance fibers market, in terms of revenue, and others segment is expected to witness growth at the highest CAGR during the forecast period. As per application, in 2021, the others segment led the market, and is expected to exhibit highest CAGR in the near future. By end user, the others segment led the market in 2021, in terms of revenue and personal segment is anticipated to register highest CAGR during the forecast period. Region wise, Europe garnered the highest revenue in 2021; however, LAMEA is anticipated to register highest CAGR during the forecast period.
COMPETITION ANALYSIS
The major players profiled in the global high performance fibers market analysis include, Cytec Industries Inc., E.I.du Pont Nemours and Company, Freudenberg Performance Materials, Huvis Corporation, Indorama Ventures, Kermel S.A, Kolon Industries, Koninklike Ten Cate NV (Netherlands), Kureha Corporation (Japan), Mitsubishi Rayon Co., Ltd. (Japan), Owens Corning, PB Performance Products, Inc. (U.S.), Sarla Performance Fiber Ltd, Teijin Ltd., Toray Industries, Inc. (Japan), Toyobo Co. Ltd., and Yantai Tayho Advanced Materials Co.Ltd.
Major companies in the market have adopted product launch, partnership, business expansion, and acquisition, as their key developmental strategies to offer better products and services to customers in the high performance fibers market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the high performance fibers market forecast.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the high performance fibers market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global high performance fibers market trends, key players, market segments, application areas, and market growth strategies.
High Performance Fibers Market Report Highlights
| Aspects | Details |
 By Product |
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 By Application |
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 By End user |
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 By Region |
|
 Key Market Players | Cytec Industries Inc., INDORAMA VENTURES, Mitsubishi Rayon Co., Ltd., PB Performance Products, Inc., E.I.du Pont Nemours and Company, Teijin Ltd., Kermel S.A., Yantai Tayho Advanced Materials Co. Ltd, Toyobo Co. Ltd, Freudenberg Performance Materials, Koninklike Ten Cate NV, Kureha Corporation, OWENS CORNING, Sarla Performance Fiber Ltd, Toray Industries, Inc., Huvis Corporation, Kolon Industries |
Analyst Review
The high performance fibers market has observed significant growth in the past few years, due to rise in automotive, aerospace and defense sectors. High performance steel products are employed in the automotive sector for a variety of ablative applications such as reentry vehicle nose tips, heat shields, and solid-rocket motor nozzles.
High performance fibers are important engineering products and widely used due to their outstanding mechanical property along with dimensional stability. They have found extensive use as fiber reinforcement and can be utilized in many applications such as cords, ropes, performance fabrics, electronic packaging, sports equipment and fiber optics.
Moreover, companies are acquiring other companies to improve their product portfolio and to boost their production unit due to rapid rise in aerospace and defense sector.
The global high performance fibers market was valued at $112.5 billion in 2021, and is projected to reach $231.5 billion by 2031, registering a CAGR of 7.4% from 2022 to 2031.
The forecast period considered for the global high performance fibers market is 2022 to 2031, wherein, 2021 is the base year, 2022 is the estimated year, and 2031 is the forecast year.
To get latest version of global high performance fibers market report can be obtained on demand from the website.
The base year considered in the global high performance fibers market report is 2021.
The top companies holding the market share in the global high performance fibers market report include Cytec Industries Inc., E.I.du Pont Nemours and Company, Freudenberg Performance Materials, Huvis Corporation, Indorama Ventures, Kermel S.A, Kolon Industries, Koninklike Ten Cate NV (Netherlands), Kureha Corporation (Japan), Mitsubishi Rayon Co., Ltd. (Japan), Owens Corning, PB Performance Products, Inc. (U.S.), Sarla Performance Fiber Ltd, Teijin Ltd., Toray Industries, Inc. (Japan), Toyobo Co.LTD, Yantai Tayho Advanced Materials Co.Ltd.
The top 17 market players are selected based on two key attributes - competitive strength and market positioning.
The report contains an exclusive company profile section, where leading 17 companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
By product, the carbon fiber segment is the highest share holder of high performance fibers market.
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