New York, Oct. 18, 2022 (GLOBE NEWSWIRE) -- The value of the high performance fibers market is US$ 12 Bn in 2022, which is likely to increase to US$ 27.5 Bn by the end of 2032, expanding at a high-value CAGR of 8.6% through 2032.
Based on product, demand for polybenzimidazole (PBI) is likely to progress at the highest CAGR of 14.1% from 2022 to 2032 due to its superior properties such as no melting point and high glass transition temperature.
High performance fibers include various fibers such as aramid fibers, carbon fibers, melamine fibers, polybenzimidazole fibers (PBI), fluoropolymer fibers, polyphenylene sulfide fiber (PPS), ceramic fibers and HDPE fibers among others.
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Due to the unique properties of high performance fibers, they are used in various end-user industries such as aerospace, automotive, buildings & construction, marine, energy, defense & military, electronics & telecommunications, and medical & healthcare among others. Glass and carbon fibers are commonly preferred high performance fibers across various end-user segments.
Increased Use of High Performance Fibers in Defense and Textile Industries
The high performance fibers are used at an increased rate to increase the durability of different components. In the defense industry, these high performance fibers, such as carbon fibers and aramid fibers are used to manufacture composites that are used in vessels and vehicles. In addition, the high performance fibers are also sued to manufacture jackets and armors.
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In the textile industry, these fibers are used for the manufacturing of technical textiles that needs chemical and fire resistance. Moreover, in the electronics & telecommunication industry, these are used in electronic circuits and fiber optics.
Growing Application of High Performance Fibers in Aerospace Industry
At present, many end-user industries, for instance, electronics, buildings and construction, automotive, and aerospace are increasing demand for high performance fibers. Among these, the aerospace industry uses these fibers, such as aramid fibers & ceramic fibers, and carbon fibers for the enhancement of the performance of engines. High performance fibers provide lighter weight to components and thus increase the fuel efficiency of the engines in the aerospace industry.
High Performance Fibers Industry Research by Category
By Product:
- Carbon Fiber
- Polybenzimidazole (PBI)
- Aramid Fiber
- M5/PIPD
- Polybenzoxazole (PBO)
- Glass Fiber
- High-strength Polyethylene
- Others
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By Application:
- Electronics & Telecommunication
- Textile
- Aerospace & Defense
- Construction & Building
- Automotive
- Sporting Goods
Key Market Players
Some of the key manufacturers of high performance fibers are E. I. du Pont de Nemours and Company, Toray Industries Inc., Zoltek Companies Inc., Teijin Ltd., Kamenny Vek, and Koninklijke Ten Cate NV, among several others.
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