The high performance fibers market size is expected to be worth US$ 12.91 billion in 2022 and US$ 29.19 billion by 2032, with a CAGR of 8.5 % from 2022 to 2032. The growth of the global high performance fibers market share has been aided by the robust electronic equipment manufacturing sector.
The usage of high performance fibers in the creation of dependable and efficient semiconductors is a significant element driving the sales of high performance fibers. Another factor propelling the demand for high performance fibers is the use of carbon, aramid, and glass in their manufacture.
As a result, it is predicted that the global high performance fibers market is likely to experience significant growth during the forecast period. Due to their numerous essential characteristics, such as strong fabric integrity at good temperatures, high thermal and chemical resistance to most organic solvents, high abrasion resistance, and non-conductivity, the sales of high performance fibers are projected to increase.
High stiffness and an extraordinary strength-to-weight ratio of high performance fibers make them ideal for aeronautical applications, that’s why the demand for high performance fibers is rising. Given the aforementioned advantages, a range of end users considers the HPF to be the ideal product.
Competitive Landscape
Key players in the high performance fibers market with wide distribution networks and strong market positions are boosting their RD expenditure. They can enhance current items for new uses thanks to their strong technical and market development capabilities.
As they provide the essential raw materials required to start the manufacturing process of different fibers, raw material suppliers play a significant role in the value chain. The expansion and profitability of the global market are being constrained by the high cost of producing 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., DSM; Kermel S.A., Kolon Industries, Inc., Huvis Corp.
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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
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