ID: MRFR/CnM/6019-HCR | February 2021 | Region: Global | 140 pages
$25
8%
North America
2022 - 2030
According to the MRFR analysis, the global high-performance fiber is estimated to grow at a healthy CAGR of more than 8% to reach over USD 25 billion in 2030. The major factors favoring this growth of the market are surging demand from major end-use industries namely automotive, aerospace & defense, and electronics & telecommunication. The global market for aerospace core material is projected to reach over 40 billion USD by 2023, which is expected to fuel the demand of high-performance fibers. Surging demand of light-weight materials in modern automobiles is projected to propel growth market in coming years. In the coming years, wind energy is anticipated to witness a rapid adoption as an important source of renewable energy by many developing countries owing to an increasing environmental concern. The global sports industry is set to grow at considerable CAGR of 8% on the backdrop of the forthcoming Olympic Games in 2020, which is likely boost demand for the product in sports equipment and sportwear. Moreover, the major market players are manufacturing the product are heavily investing in capacity expansion production to meet an increasing demand from diverse end-use industries. However, the high production cost for carbon and other high-end fibers is likely to limits the market growth.
High-performance fibers are the specialty fibers that confer a higher value in wide range of applications. These types of fibers are mainly differentiated from the commodity fiber on the basis of the special technical functions that require specific performance properties. In addition, it is commonly referred to as a fiber with some unique characteristics which fits properly for a particular application. In general, the high-performance fibers exhibit remarkably high tensile strength and modulus, resistance to heat, flame, resistance to chemical agents which can easily degrade conventional fibers. The major applications of the product can be found in automotive and aerospace & defense industries and construction, energy and telecommunication sectors.
Key Players
Some of the key players in the high-performance fiber market are TEIJIN LIMITED (Japan), Mitsubishi Chemical Corporation (Japan), Corning Incorporated (US), Solvay (Belgium), Kureha Corporation (Japan), PBI Performance Products, Inc. (US), Honeywell International Inc. (US), AGY (US), ZOLTEK Corporation (US), Yantai Tayho Advanced Materials Co.,Ltd. (China), PHP Fibers GmbH (Germany), Bally Ribbon Mills (US), The InterTech Group, Inc. (US), Binani Industries Ltd. (India), and Sarla Performance Fibers Limited (India), among others.
Market Segmentation
The high-performance fiber market has been segmented on the basis of type, application, and region.
Based on type, the high-performance fiber market has been segregated into carbon fiber, aramid fiber, ceramic fiber, glass fiber, polybenzimidazole (PBI), polyphenylene sulfide (PPS), PE fiber, and others.
On the basis of application, the market is categorized into automotive, aerospace & defense, building & construction, electronics & telecommunication, energy, textiles, sports & leisure, and others.
The high-performance fiber market has been studied with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Global High-Performance Fiber Market Share, by Application, 2017 (%)
Source: MRFR analysis
Regional Analysis
Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa are the five regions studied for the global High-Performance Fiber market. Asia-Pacific held largest share of the global high-performance fiber market in 2017 and is also projected to grow at the highest CAGR during the forecast period. The market for the high-performance fiber in this region is witnessing robust growth during review period on account of the surging demand for the product form the major end-use industries such automotive, construction, electronics & telecommunication, and textiles. Additionally, rapid growth of the aerospace and energy sector in this region is expected to drive the market growth for high-performance fiber in this region.
North America is closely following Asia-Pacific and held the second largest market share in 2017. The US is the largest market in this region due to the significant presence of well-established end use industries such as aerospace & defense, along with sports industry.
Europe is another substantial regional market, wherein the demand for the product from in automobile industry is increasing at the healthy CAGR. The major contributors to the regional market France, Germany, UK and Italy. The aerospace and automotive industries in Europe are the major consumers of the high-performance fiber.
The Middle East & African and Latin American markets are estimated to grow at a healthy CAGR owing to high investment potential and robust availability raw.
Intended Audience
Report Attribute/Metric | Details |
---|---|
Market Size |
|
CAGR | 8% (2022–2030) |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2019 & 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Type, Application and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | TEIJIN LIMITED (Japan), Mitsubishi Chemical Corporation (Japan), Corning Incorporated (US), Solvay (Belgium), Kureha Corporation (Japan), PBI Performance Products, Inc. (US), Honeywell International Inc. (US), AGY (US), ZOLTEK Corporation (US), Yantai Tayho Advanced Materials Co.,Ltd. (China), PHP Fibers GmbH (Germany), Bally Ribbon Mills (US), The InterTech Group, Inc. (US), Binani Industries Ltd. (India), and Sarla Performance Fibers Limited (India) |
Key Market Opportunities | Surging demand of light-weight materials in modern automobiles is projected to propel growth market in coming years |
Key Market Drivers | Surging demand from major end-use industries namely automotive, aerospace & defense, and electronics & telecommunication |
Frequently Asked Questions (FAQ) :
The global high-performance fiber market can touch a value of USD 25 billion by 2023.
The global high-performance fiber market can expand at a CAGR exceeding 8% from 2018 to 2023.
Massive demand from burgeoning industries of electronics, telecommunication, aerospace & defense, and automotive is the major driver of the global high-performance fiber market.
The global high-performance fiber market growth is restrained by high production costs of carbon.
PBI Performance Products, Inc., AGY, The InterTech Group, Inc., TEIJIN LIMITED, Yantai Tayho Advanced Materials Co.,Ltd., ZOLTEK Corporation, Honeywell International Inc., Sarla Performance Fibers Limited, Kureha Corporation, Solvay, Bally Ribbon Mills, Corning Incorporated, PHP Fibers GmbH, Binani Industries Ltd., and Mitsubishi Chemical Corporation are major players of the global high-performance fiber market.