High-Performance Fibers Market - Forecast(2021 - 2026)

 High-Performance Fibers Market size is forecast to reach $25 billion by 2025, after growing at a CAGR of 9% during 2020-2025. High performance fibers have high strength and excellent corrosion resistance owing its use in various end use industries like automotive, aerospace & defense and electronics. Increasing demand for high quality product with good durability and strength is driving the growth of high-performance fibers market globally. Moreover, government regulations for safety and minimal road accidents has increased the demand of high-performance fibers in automotive sector which augmented their market growth.

Report Coverage

The report: “High-Performance Fibers Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the High-Performance Fibers Industry.
By Type: Carbon Fiber (PAN carbon Fiber, Pitch Carbon Fiber), Aramid Fiber (Para-Aramid Fiber, Meta Aramid Fiber), Glass Fiber, Polypropylene Sulfide (PPS) Fiber, Polybenzimidazole (PBI) Fiber and Others.
By Application: Aerospace and Defense (Engine Compartment, Propellers, Ballistic Missiles, Tanks, Bulletproof Jackets and Others) Automotive (Automotive Body, Tires and Others), Sporting Goods, Electronics (Optical Fibers, Antennas, Others), Construction & Infrastructure, Power and Energy (Turbine Blades, Nacelle), and Others
By Geography: North America, South America, Europe, APAC, and RoW.


Key Takeaways:
  • U.S has shown significant growth in the high-performance fibers market owing to increasing demand from applications such as automotive, defense and aviation industries. 

  • Properties such as durability, high tensile strength, flame and solvent resistant are the major factors driving the growth of high-performance fiber market.

  • Increasing awareness for safety and security among people has also accelerated the growth of high-performance fiber market.

High-Performance Fibers Market Segment Analysis - By Type

Carbon fibers segment holds the largest share of more than 25% in high performance fibers market in 2019. Carbon fibers have twice the stiffness and fatigue resistance as compared to steel and act as a driving factor for the growth of high-performance fiber market. Carbon fibers provide strength and stiffness to the composites owing its use in wind blades, aero planes and antennas.
Coronavirus has badly impacted the high-performance fibers market. Due to the lockdown industries are being shuttered all around the world. People stuck in their houses resulting in major problems for aerospace industries. All flights are suspended, and manufacturers are facing huge losses. According to Bloomberg news, shares of Boeing Co. fell nearly 6.63% to $ 128.98 on 24 March 2020. The decrease in production and sales of aircrafts has lowered the demand for high performance fibers market. Furthermore, decrease in purchasing power also reduced the sales of automotive which in turn lower the production and usage of high-performance fibers in automotive sector.


High-Performance Fibers Market Segment Analysis - By Application
On the basis of application aerospace & defense segment he;d  the largest share of more than 25% in high performance fibers market in 2019. They are extensively used in aerospace industries due to light weight and thermally insulating behavior. Due to abrasion and aging resistant high-performance fibers are used for making pressure vessels, fishing rods, turbine blades, skis and snowboards. Additionally, use of carbon fibers in automotive frames lowers the weight of vehicles, which in turn reduces the fuel consumption and lowers the emission of greenhouse gases.


High-Performance Fibers Market Segment Analysis - By Geography

APAC dominated the high-performance fibers market with a share of more than 33%, followed by North America and Europe. Rapid industrialization coupled with increase in aeronautical research and activities has driven the growth of high-performance fibers in these regions. High performance fibers have shown significant growth in developing nations like China, Japan and India due to the expansion and strengthening of defense sector. Moreover, rise in disposal income and high standard of living has accelerated the use of high-performance fibers in automotive and sports industry. In September 2019, Boeing forecasted that China would need 8,090 new airplanes over 20 years that worth approximately $1.3 trillion. Increasing demand of airplanes and fighter jets may boosts the growth of high-performance fibers market.

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