A recent report published by Infinium
Global Research on high-performance fiber market provides in-depth analysis of
segments and sub-segments in the global as well as regional high-performance
fiber market. The study also highlights the impact of drivers, restraints, and
macro indicators on the global and regional high-performance fiber market over
the short term as well as long term. The report is a comprehensive presentation
of trends, forecast and dollar values of the global high-performance fiber market.
According to the report, the global high-performance fiber market is projected
to grow at a CAGR of 10.2% from USD 14.6 billion in 2020 to over USD 26 billion in 2026 during the forecast period of 2020-2026.
High-performance fibers are being
increasingly used for a broad range of applications such as geotextiles and
geomembranes and for construction and civil engineering projects. It is also
used in specialist fibers in compound materials where their capability to
fulfill demanding roles makes high-performance fiber an effective choice for
the engineer and materials scientist. These fibers have characteristics such as
higher tenacity and higher modulus than typical fibers.
The rapidly growing use of
high-performance fiber in aerospace and spacecraft for the manufacturing of
various parts is the primary factor driving the growth of the high-performance
fiber market. Versatile properties offered by high-performance fiber-based
components they are used in various industries such as aerospace and defense,
automotive, construction and infrastructure, wind energy, sporting goods, and
so on. The high-performance fiber-reinforced composite materials are used to
make the aircraft, spacecraft parts, and automotive parts as they need high
strength and low weight. The high-performance fiber fulfills the requirements
as they offer high strength with a relatively low weight with high corrosion
resistance. However, the high cost of production of high-performance fibers is
restraining the market growth. Moreover, increasing demand for lightweight but
strong material from the automotive and aerospace industries is anticipated to
create more opportunities in the forecasted years. COVID-19 has impacted
consumer spending across a range of end-use sectors of the high-performance
fiber as the global economy goes into decline. The fiber end-user sectors such
as apparel, homes textiles, automotive, and beyond are negatively impacted due
to the spread of coronavirus over the world. However, some new sectors such as
Personal Protection Equipment (PPE) will see increasing demand for
high-performance fiber in the market.
Among the region, The Asia-Pacific
market is the leading market of high-performance fiber, owing to the growing
demand of high-performance fiber in numerous sectors as automotive, wind
energy, electrical and electronics, and the construction and infrastructure
industry. China is the leading market in the Asia-Pacific region. North America
holds a significant market share of the high-performance fiber market. The
presence of the largest aircraft makers in this region results in increased
demand for high-performance fiber in this region. Many automotive manufacturers
are focusing on the production of lightweight cars that is likely to boost the
growth of the high-performance fiber market in this region.
The report on global
high-performance fiber market covers segments such as product, and application.
On the basis of product, the sub-markets include carbon fiber,
polybenzimidazole (PBI), aramid fiber, polybenzoxazole (PBO), glass fiber, high
strength polyethylene, and others. On the basis of application, the sub-markets
include electronics & telecommunication, textile, aerospace & defense,
construction & building, automotive, sporting goods, and others.
The report provides profiles of
the companies in the market such as Teijin Ltd., E. I. du Pont Nemours and
Company, Yantai Tayho Advanced Materials Co., Ltd., Cytec Industries Inc.,
Mitsubishi Rayon Co., Ltd., Owens Corning, PBI Performance Products, Inc.,
Toray Industries, Koninklijke Ten Cate NV, and Kureha Corporation.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the market
using analytical tools such as Porter's five forces analysis and DRO analysis
of high-performance fiber market. Moreover, the study highlights current market
trends and provides forecast from 2020-2026. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an
insight into the market share of the leading players.