In 2022, North America dominated the high-performance fibers market, primarily driven by its pivotal role in satisfying the demand for these advanced materials, owing to its concentration of major aircraft manufacturers. Anticipated is an 8.8% Compound Annual Growth Rate (CAGR) for high-performance fibers in the region during the forecast period. Moreover, the regional high-performance fibers market is poised for optimistic expansion, buoyed by the increasing defense investments, notably in the United States.
The global high performance fibers market size is expected to attain a valuation of US$ 14.01 billion in 2023 and is projected to reach USD 32.46 billion by 2033, trailing a CAGR of 8.7% during the forecast period. The growing utilization of high-performance fibers (HPF) for reinforcing composites in military vehicles, aircraft, electronics, and sporting goods is expected to fuel industry growth in the forecast period.
The market is anticipated to witness new opportunities as technological advancements in additive manufacturing for aerospace production continue to rise. Market players are dedicating their efforts to research and development of high-performance fiber (HPF)-reinforced composites, aiming to enhance strength and cater to the increasing demand for lightweight materials.
The aerospace and defense sectors are expected to generate significant demand for carbon fiber, primarily due to its impressive strength-to-weight ratio. Carbon fiber finds extensive use in military aircraft and helicopters, as its lightweight properties contribute to reducing overall weight. In recent years, the aerospace and defense industries in Europe and North America have witnessed notable growth, and this trend is expected to persist in the coming years.
The carbon fiber demand in Europe and North America has been driven by the prominent presence of global aerospace leaders such as Airbus and Boeing. The expansion of the commercial aviation sector, driven by increased globalization and a rising number of aviation users, is also contributing to market growth. This trend is expected to fuel the demand for carbon fiber in the development of new aircraft, thereby creating lucrative opportunities for the high-performance fibers market.
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In recent years, high-performance organic fibers have gained significant importance. An example is Polybenzimidazole (PBI), developed by Celanese for the NASA Apollo space mission, renowned for its chemical stability and flame resistance. Aramid fibers, known for their flexibility in aromatic rings and durable amide bonds, exhibit higher tensile strength and heat resistance than aliphatic polyamides. Para-aramids, relying on terephthalic acid and p-phenylenediamine or p-amino benzoic acid, offer exceptional strength and temperature endurance. They are highly valued for applications such as bulletproof body armor due to their excellent impact resistance. The demand for high-performance fibers is expected to be driven by increasing demand and advancements in organic high-performance fibers in the coming years.
Key Takeaways in High Performance Fibers Market
- The market in Asia Pacific is projected to grow with a promising CAGR of 9% during the forecast period.
- The sales of high performance fibers in North America are expected to rise with a CAGR of 8.8% during the forecast period.
- By product, Polybenzimidazole (PBI)segment is expected to generate demand with a CAGR of 14.4% during the forecast period.
- By application, aerospace and defense segment is expected to generate demand for high performance fibers with a CAGR of 10.2% during the forecast period.
“Growing demand for high performance fibers from aviation and defense industry is expected to fuel market expansion during the forecast period,” comments an FMI Analyst
Competitive Landscape in High Performance Fibers Market
The market for high performance fibers is characterized by extreme competition, as key industry players are making significant investments to improve their manufacturing capabilities.
The top 11 Key Players are
- Toray Industries Inc.
- Dupont
- Teijin Limited
- Toyobo Co. Ltd
- DSM
- Kermel S.A.
- Kolon Industries, Inc.
- Huvis Corp.
- Indorama Ventures
- Kureha Corporation
- Sarla Performance Fiber Ltd
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Some recent developments in the high-performance fibers market are:
- Honeywell International Inc. and DENSO announced a collaborative effort in 2022 to jointly develop an electric motor for the Lilium Jet.
- Toray Industries, Inc. announced in July 2023 that their wholly owned Korean subsidiary, Toray Advanced Materials Korea Inc., has achieved ISCC PLUS certification for the production of polyphenylene sulfide (PPS) resin at their Gunsan plant.
- In March 2021, Zayo Group Holdings, Inc., a privately held corporation headquartered in Boulder, Colorado, announced the signing of a definitive agreement to acquire Intelligent Fibre Network (IFN).
- In April 2021, Braskem, America’s leading thermoplastic resin manufacturer, introduced the New Carbon Fibre Reinforced Polypropylene Filament.
High Performance Fibers 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
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global high performance fibers market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the high performance fibers market, the market is segmented on the basis of product, application, and region.
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