The global high performance fibers market size is expected to reach USD 25.4 billion by 2025, expanding at a revenue-based CAGR of 11.0%, according to a new report by Grand View Research, Inc. Increased strength to weigh ratio coupled with superior rigidity offered by such fibers to the components in the aerospace and automotive industries is projected to drive the market.
Growth in the use of such products to increase fuel efficiency and aerodynamics of an aircraft is encouraging the manufacturers to replace traditional metal alloys with composite materials in the manufacturing of primary and secondary parts of an aircraft. In addition, the incorporation of these fibers in aerospace components offer excellent flexibility and damage resistance is expected to drive growth.
Strong regulations imposed by the various government bodies to reduce CO2 emissions is also expected to emerge as one of the driving factors for the growth of lightweight materials in the aerospace and automotive applications. These regulations are forcing OEMs to seek for alternatives to reduce the emissions and increase the fuel efficiency.
The industry is characterized by the presence of multiple raw material suppliers such as BASF and Dow that provide quality feedstock for the production of such high performance fibers. However, high volatility in the price for feedstock used in the manufacture of such products is expected to restrain the production, which in turn, is expected to limit the industry growth.
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https://www.grandviewresearch.com/industry-analysis/high-performance-fibers-market
Further key findings from the report suggest:
- Aramid was recorded to be the largest product segment in 2018 and is estimated to generate revenue over USD 5.7 billion by 2025 owing to high demand in security applications due to superior product properties such as high strength, thermal, and chemical resistance
- The global demand in aerospace and defense application was over USD 5.2 billion in 2018 and is anticipated to witness the highest growth over the forecast period owing to rapid penetration in manufacturing of aerospace components
- The industry in Asia Pacific is projected to witness substantial growth at a revenue-based CAGR of 11.3% over the coming years, primarily due to the growing infrastructure development and construction activities in the region
- The demand for such product in China is expected to generate a revenue of USD 4.4 billion by 2025 on account of high penetration in the application industries coupled with the increasing substitution of the conventional materials
- Key industry players are involved in intensive R&D aimed at the production of advanced grade products in a bid to increase the high performance fiber market share.
Grand View Research has segmented the global high performance fibers market on the basis of product, application, and region:
High Performance Fibers Product Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- Carbon Fiber
- Polybenzimidazole (PBI)
- Aramid Fiber
- M5/PIPD
- Polybenzoxazole (PBO)
- Glass Fiber
- High Strength Polyethylene
- Others
High Performance Fibers Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- Electronics & Telecommunication
- Textile
- Aerospace & Defense
- Construction & Building
- Automotive
- Sporting Goods
- Others
High Performance Fibers Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- North America
- US.
- Canada
- Mexico
- Europe
- Germany
- UK.
- France
- Asia Pacific
- China
- Japan
- India
- South Korea
- Central & South America
- Brazil
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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