The High-Performance Fibers Market is forecast to be worth US$12.91 billion in 2022 and US$29.19 billion in 2032, with a CAGR of 8.5 % from 2022 to 2032. The growth of the global market share for high-performance fibers was supported by a strong electronic equipment manufacturing sector.
The use of high-performance fibers in the manufacture of reliable and efficient semiconductors is a key element driving sales of high-performance fibers. Another factor driving the demand for high-performance fibers is the use of carbon, Aramid, and glass in manufacturing. As a result, the global high-performance fiber market is expected to witness significant growth during the forecast period.
Due to its numerous essential properties of, such as chemical resistance to most organic solvents, high abrasion resistance, and non-conductivity, the sales of High-performance fibers are expected to increase.
The high stiffness and exceptional strength-to-weight ratio of high-performance fibers make them ideal for aerospace applications, which is why the demand for high-performance fibers is increasing. Given the above advantages, a large number of end users consider HPF to be the ideal product.
In addition, high-performance fibers are also used in the manufacture of composite materials for vehicles and boats used in the defense industry. These factors are expected to drive the market prospects for high-performance fibers between 2022 and 2032.
High-performance fiber market share expansion is hampered by high-quality product shortages. Also, unlike other metals and non-metals, carbon fiber is not biodegradable and will not degrade in landfills. Carbon fiber recycling is energy-intensive and extremely difficult.
Long-life carbon fiber waste hurts the environment and hampers the growth of the high-performance fiber market.
Key Segments
By Product:
- Carbon Fiber
- Polybenzimidazole (PBI)
- Aramid Fiber
- M5/PIPD
- polybenzoxazole (PBO)
- Glass Fiber
- High Strength Polyethylene
- Others
By Application:
- Electronics & Telecommunication
- Textile
- Aerospace & Defense
- Construction & Building
- Automotive
- Sporting Goods
- Others
Competitive landscape
Major players in the high-performance fiber market with extensive distribution networks and strong positions in the market are driving their R&D spending. Thanks to their strong technical and market development skills, they can improve current items for new uses. Supplying the essential raw materials needed to start the manufacturing process of various fibers, raw material suppliers play an important role in the value chain.
The expansion and profitability of the global market are constrained by the high cost of production of PBO-, PBI, M5/PIPD, and Aramid fibers. The following companies are among the major players in the global high-performance fibers market: Toray Industries, Inc., DuPont; Teijin Ltd., Toyobo Co. Ltd. Ltd. GmbH. Ltd., DSM; Kermel S.A., Columbus Industries, Inc., Huvis Corp.
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