High-Performance Fibers Market To Offer Numerous Opportunities At A CAGR Of 8.7% through 2033

Source: Market.Us

April 27, 2023 09:00 ET

High-Performance Fibers Market Size is Expected to Surpass US$ 34.7 Billion Through 2032 | Market.us Study

Market.us reports that key players in the ber manufacturing sector are now utilizing advanced technologies such as 3D printing and nanotechnology to produce high-performance bers that possess enhanced properties while simultaneously reducing production costs. This is expected to drive demand for high-performance bers in the future.

New York, April 27, 2023 (GLOBE NEWSWIRE) -- In 2022, the Global High-Performance Fibers Market accounted for USD 15.4 billion and is expected to reach USD 34.7 billion in 2032. This market is estimated to register a CAGR of 8.7% between 2023 and 2032 Composite materials will be reinforced with high-performance bers for aircraft, electronic products, sports goods & military vehicles. These sectors prefer high-performance bers due to they offer superior mechanical properties to conventional materials like metals & polymers.

High-performance bers have many top characteristics, including strong abrasion resistance, nonconductivity, and a good fabric structure when heated to high temperatures. A high rigidity, exceptional strength-to-weight ratio, as well as excellent stiffness, make this product ideal for aircraft applications The growing demand for materials with higher tensile strengths and greater heat resistance in various sectors such as automotive and aerospace is driving the production of these materials.

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Key Takeaway:

By product, the Polybenzimidazole (PBI) segment generated the largest revenue share of 14% in 2022.

By application, the aerospace and defense segment has dominated the market, and it accounted for the most prominent global revenue of 44% in 2022.

By end-user, the personal segment was dominant in the market, with the largest market revenue share in 2022

In 2022, Asia Pacic dominated the market with the highest revenue share of 43%.

The North America region is expected to grow at a signicant CAGR from 2023 to 2032.

Factors affecting the growth of the High-Performance Fibers Market

There are several factors that can affect the growth of the High-Performance Fibers Market Some of these factors include:

Increasing demand from various end-use industries: High-Performance bers are used by various industries, including aerospace, automotive, and defense These industries are growing, and this directly affects the demand for High-Performance Fibers.

Technological advances: The development of High-Performance Fibers that have improved properties like strength, durability, and chemical resistance has been a result of technological advancements.

Competition from alternative materials: High-Performance Fibers are competing with alternative materials, such as metals, composites, and plastics. These materials are available at lower costs, which can affect the demand for High-Performance Fibers.

Increased investments in R&D: Companies invest heavily in R&D activities to develop innovative High-Performance Fibers. This leads to improved bers, which are driving market growth.

Carbon ber technology advances: Carbon ber has been one of the most commonly used highperformance bers In recent years, major advancements in carbon ber technologies have occurred. Carbon ber is more appealing for a wide range of applications because these advances have increased its strength, stiffness, and fatigue resistance.

Growing demand in the aerospace sector: In recent years, the use of high-performance bers in aircraft production has increased. High-performance bers are used by the aerospace industry. Demand for lightweight materials which can improve fuel efciency and reduce emissions.

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Market Growth

Market growth is driven by the increasing demand for High-Performance Fibres in various industries such as aerospace and automotive. High-Performance Fibers are the perfect solution for these industries, which require lightweight materials with high strength. The market is also expected to grow due to the increased demand for sustainable materials, as well as growing investments in research and development. High-Performance Fibers that have enhanced properties including increased strength, durability, and resistance to chemicals and heat are likely to provide new opportunities to market players

Regional Analysis

In 2022, the Asia Pacic region was dominant and generated over 43% of global revenue. An increase in demand for ber-reinforced composite materials in the construction, electronics, and automotive industries is expected to make it the market with the faster CAGR during the projection period. The market is also anticipated to be driven by product advancements, the availability of raw materials at reasonable rates, and the establishment of production facilities by industry players In developed countries like China and India, the increasing demand for security and protective measures in a variety of end-use industries, such as mining, oil and gas, manufacturing, healthcare/medical, and building and construction, is driving product sales Market expansion is expected to be fuelled by the increasing use of high-performance bers as an alternative to asbestos and steel. North America will also represent a large portion of the market by 2022, due to its signicant impact on the product demand caused by the presence of major aircraft manufacturers

Competitive Landscape

High-Performance Fibers Market is highly competitive and dynamic, with many major players in the market The companies engage in various growth strategies, such as mergers and purchases, partnerships, collaborations, and new product launches to increase their market presence. Companies are also focusing their efforts on the innovation of sustainable and eco-friendly high-performance bers in order to meet the growing demand for environmentally friendly products This will create new opportunities and propel market growth over the next few years.

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Market Drivers

New manufacturing technologies: Using advanced technologies like 3D printing and nanotechnology, it is now possible for manufacturers to produce high-performance bers with improved properties while lowering costs This will increase the demand for high-performance bers in the future.

Demand for electric vehicles is increasing: Electric vehicles will continue to gain in popularity. This will increase the demand for high-performance bers By using these bers, electric vehicles can reduce their weight and increase their fuel efciency.

Growing demand in emerging economies: Demand from developing countries has increased. The need for high-performance bers has increased These countries invest heavily in infrastructure, which drives the market for high-performance bers. As a result, the market for high-performance bers will expand in the coming years due to technical improvements, growing sustainability awareness, and increasing demand from emerging economies.

Market Restraints

Substitute materials are available: Substitute materials can provide high-performance bers that have similar performance characteristics at a lower price. In automobile applications, steel and aluminum are often used to replace carbon bers. High-performance bers may be stronger and lighter than traditional materials, but for some producers, the cost savings of alternative materials are more appealing.

High Cost of Production: High-performance bers manufacture is a difcult, expensive process that requires specialized tools and expertise. High-performance bers are made from expensive raw materials including aramid, carbon ber, and glass ber. These elements raise the cost of manufacture relative to conventional bers, which might prevent some businesses from adopting them. The failure of manufacturers to scale up results due to the high cost of production may hinder market expansion.

Market Opportunities

Product Development and Innovation: The development of high-performance bers that have improved qualities such as durability, strength, and heat resistance can help to grow the industry. Research and development projects on high-performance bers could lead to new applications and an increase in demand. Customers of high-performance bers often have very specic requirements for bers. Fibers can be customized to meet customer needs, either by changing ber properties or by creating brand-new ber

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Report Segmentation of the Global High-Performance

Product Insight

Fibers Market

Polybenzimidazole (PBI) is expected to achieve the highest CAGR of more than 14% due to its superior properties. These include a high glass transition, no melting temperature, and an extremely high temperature for heat deection PBI bers are used in many products including gloves and safety garments, such as those worn by reghters and police ofcers. PBI bers are suitable for a wide range of applications. They can also be combined with high-performance bers like Kevlar. PBI bers have a low moisture gain and low tenacity, as well as exhibiting a superior strength-to-weight ratio These bers do not melt or burn. These bers can be used as plastic reinforcements, heat-resistant lters, and chemical-resistant lters. These bers are also used in civil engineering.

Application Insight

In 2022 the aerospace and defense application sector have the largest market, accounting for more than 44% of the global revenue share. The sector will continue to grow as it moves towards lighter materials to improve the cost-efciency of aircraft The production of aircraft is dependent on lightweight, high-strength, and ber-reinforced composite materials. In aircraft applications, lightweight materials and structures are a huge advantage because they offer strength and stiffness at a lower weight Fuel consumption is reduced signicantly These materials enable aircraft, particularly military aircraft, to carry more fuel and payload. This extends their missions and reduces downtime.

End-user Insight

Based on end-user, the market is segmented into Personal, Public, and Other End-User. Among these types, the personal segment is expected to be the most lucrative in the global high-performance ber market, with the largest revenue share during the forecast period. High-performance bers used in personal protection equipment are often referred to as the personal segment of the high-performance bers market.

Recent Development of the High-Performance Fibers Market

Carbon bers have advanced in development signicantly since 2021. New production techniques are being developed for a lower price and greater availability Scientists at Japan's National Institute for Materials Science have developed a new method for producing high-quality carbon bres using a readily-available, cheap precursor material.

In 2020, the aramid industry launched new products with improved performance in areas such as heat resistance and durability. Teijin, for example, unveiled Twaron Black, a novel aramid material that is heat resistant and can tolerate temperatures up to 260 degrees Celsius.

For more insights on the historical and Forecast market data from 2016 to 2032 - download a sample report at https://market.us/report/high-performance-ber-market/request-sample/

Market Segmentation

By Product

Carbon Fiber

Polybenzimidazole (PBI)

Aramid Fiber

M5/PIPD

Polybenzoxazole (PBO)

Glass Fiber

High Strength Polyethylene

Other Products

By Application

Electronics & Telecommunication

Textile

Aerospace & Defense

Construction & Building

Automotive

Sporting Goods

Other Applications

By End-User

Personal

Public

Other End-User

By Geography

North America

The US

Canada

Mexico

Western Europe

Germany

France

The UK

Spain

Italy

Portugal

Ireland

Austria

Switzerland

Benelux

Nordic

Rest of Western Europe

Eastern Europe

Russia

Poland

The Czech Republic

Greece

Rest of Eastern Europe

APAC

China

Japan

South Korea

India

Australia & New Zealand

Indonesia

Malaysia

Philippines

Singapore

Thailand

Vietnam

Brazil

Colombia

Chile

Argentina

Costa Rica

Rest of Latin America

Middle East & Africa

Algeria

Egypt

Israel

Kuwait

Nigeria

Saudi Arabia

South Africa

Turkey

United Arab Emirates

Rest of MEA

Key Market Players

Toray Industries, Inc

Dupont

Teijin Limited

Toyobo Co. Ltd

DSM

Kermel S A

Kolon Industries, Inc.

Huvis Corp.

E I du Pont de Nemours and Company

Zoltek Companies Inc.

Kamenny Vek

Koninklijke Ten Cate NV

Other Key Players

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Activated Carbon Fiber Market size is expected to be worth around USD 791 million by 2032 from USD 409.7 million in 2022, growing at a CAGR of 6.8% during the forecast period 2023 to 2032.

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