SAN FRANCISCO, June 7, 2022 /PRNewswire/ -- The global high performance fibers market size is expected to reach USD 25.32 billion by 2030 with CAGR of 8.7% from 2022 to 2030 , according to a new report by Grand View Research, Inc. High strength to weight ratio coupled with rigidity offered to the aerospace and automotive components by these fibers is projected to drive the market.
Key Insights & Findings from the report:
- The global market is expected to grow significantly during the forecast years due to the rising application scope in the aerospace & defense industries.
- Aramid fiber was the largest product segment in 2021 and is estimated to remain dominant over the forecast years owing to superior product properties, such as high strength and thermal & chemical resistance.
- The aerospace & defense application held a considerable share in 2021 and is anticipated to witness the fastest CAGR over the forecast period due to high penetration in the manufacturing of aerospace components.
- The market in Asia Pacific is projected to witness the fastest growth rate over the forecast years due to the growing infrastructure development and construction activities in the region.
Request a free sample copy or view the report summary, "High Performance Fibers Market Size, Share & Trends Analysis Report By Product (PBI, Carbon, Aramid), By Application (Aerospace & Defense, Construction & Building), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
High Performance Fibers Market Growth & Trends
Technologically, the key factor is the level of fiber properties that can be controlled in this product through modifications in polymer composition, the molecular weight of the polymer, ingredients choice, and method of fiber formation. However, from the business point of view, the critical factors are high manufacturing costs, initial investment, and limited monomer supply. The drive to increase fuel efficiency and aerodynamics performance of aircraft is encouraging the manufacturers to replace traditional metal alloys with composite materials in the manufacturing of primary and secondary parts of aircraft.
Also, the incorporation of these fibers in aerospace components offers excellent flexibility and damage resistance to the same. Strong regulations imposed by the various government bodies to reduce CO2 emissions are also among the key factors responsible for the high usage of lightweight materials in aerospace and automotive applications. These regulations are forcing OEMs to seek for alternatives to reduce emissions and increase fuel efficiency. The economic viability of ultra-high-performance fiber-reinforced concrete in pre-stressed concrete wind towers and other commercial buildings is being tested. The carbon-reinforced composites are also being made technologically advanced with the view of making them economically viable, which would result in reduced production cost and increased profit margin.
High Performance Fibers Market Segmentation
Grand View Research has segmented the global high performance fibers market based on product, application, and region:
High Performance Fibers Market - Product Outlook (Volume, Kiloton, Revenue, USD Million, 2017 - 2030)
- Carbon Fiber
- Polybenzimidazole (PBI)
- Aramid Fiber
- M5/PIPD
- Polybenzoxazole (PBO)
- Glass Fiber
- High-strength Polyethylene
- Others
High Performance Fibers Market - Application Outlook (Volume, Kiloton, Revenue, USD Million, 2017 - 2030)
- Electronics & Telecommunication
- Textile
- Aerospace & Defense
- Construction & Building
- Automotive
- Sporting Goods
- Others
High Performance Fibers Market - Regional Outlook (Volume, Kiloton, Revenue, USD Million, 2017 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- Japan
- India
- South Korea
- Central & South America
- Middle East & Africa
List of Key Players in High Performance Fibers Market
- Toray Industries, Inc.
- Dupont
- Teijin Limited
- Toyobo Co. Ltd
- DSM
- Kermel S.A.
- Kolon Industries, Inc.
- Huvis Corp.
Check out more related studies published by Grand View Research:
- Aramid Fiber Market - The global aramid fiber market size is expected to reach USD 6.8 billion by 2027, expanding at a revenue-based CAGR of 8.2% during the forecast period, according to a new report by Grand View Research, Inc. Superior properties such as strength and heat-resistance of aramid fiber has promoted its utilization in the production of body armor fabric.
- Concrete Reinforcing Fiber Market - The global concrete reinforcing fiber market size is expected to reach USD 3.96 billion by 2030, registering a CAGR of 6.8% during the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for lightweight non-corrosive materials in the construction industry is expected to boost product demand in the forecast period.
- Glass Fiber Reinforced Concrete Market - The global glass fiber reinforced concrete market size is expected to reach USD 244.2 million by 2027, expanding at a CAGR of 5.76% from 2020 to 2027, according to a new report by Grand View Research, Inc. The rising demand for non-corrosive materials in the construction industry is projected to propel the demand for glass fiber reinforced concrete (GFRC).
Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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