High Performance Fibers Market - Forecast(2024 - 2030)

Report Code: CMR 75089 Report Format: PDF + Excel
High Performance Fibers Market Overview
High Performance Fibers Market size is forecast to reach $27641.2 million by 2026, after growing at a CAGR of 9.5% during 2021-2026. High-performance fibers provide outstanding corrosion resistance and high strength due to which it is used in various end-use applications such as aerospace & defense, automotive, and electronics. The growth in the global market for high-performance fibers is led by increased demand for high-quality goods with strong longevity and durability. Government safety laws and minimal traffic injuries have also raised demand in the automobile industry for high-performance fibers and driven the growth of the high performance fibers industry over the forecast period.

Report Coverage
The report “High Performance Fibers Market– Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the high performance fibers market.

By Type: Carbon Fiber (PAN Carbon Fiber and Pitch Carbon Fiber), Aramid Fiber (Meta Aramid and Para Aramid), Glass Fiber, Polyphenylene 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, and Others), Construction and Infrastructure, Power and Energy (Turbine Blades, Nacelle, and Others), and Others
By Geography: North America, South America, Europe, Asia Pacific, and Rest of World.

Key Takeaways
  • In the Asia Pacific region, emerging regions such as China and Japan are set to drive the market demand for high performance fibers in the forecast period.
  • Increase in demand from various end use industries for their high impact resistant, non-abrasive, vibrations and shock absorbent properties has boosted the growth of high performance fibers market.
  • It is expected that rising technical developments in the use of additive manufacturing in aerospace production would open up new opportunities for the demand for high-performance fibers in the forecast period.
  • Due to lockdown and various other issues regarding production, the demand of high performance fibers in automotive and aviation industry is reducing drastically, which tends to reduce the consumption of high performance fibers, and thus constraining the growth of the market. 

High Performance Fibers Market Segment Analysis - By Type
Glass fiber held the largest share in the high performance fibers market in 2020. The glass fibers of today provide a much broader variety of properties and can be used in many end applications, such as batting insulation, fire-resistant garments, and composite reinforcement materials. Things such as bathtub enclosures and boats, also referred to as 'fiber glass,' are simply plastics with glass fiber reinforcement (often cross-linked polyesters). In most end-market applications, glass fibers are the oldest and by far the most widespread reinforcement. Thus, the increasing demand of glass fibers from various end-use industries for various applications would drive the market for high performance fibers in the forecast period.

High Performance Fibers Market Segment Analysis - By Application
Aerospace and Defense held the largest share in the high performance fibers market in 2020 and is expected to rise at a CAGR of 8.4% in terms of revenue during the forecast period from 2021-2026. Almost 10 percent of the domestic market is identified by the military use of advanced polymer matrix composites (PMC), a resin matrix strengthened by high-performance carbon or organic fibers. Nonetheless, advanced composites are expected to play a much greater role in future weapons systems and DOD (Department of Defense) will continue to require access to accessible suppliers of affordable high-performance fibers such as raw materials and production processes. Also, the role of carbon fiber in the aerospace and defense industry looks promising with its potential in commercial aircraft, regional aircraft, aircraft, general aviation, UAVs and others.  

High Performance Fibers Market Segment Analysis - By Geography
Asia Pacific dominated the high performance fibers market in terms of revenue with a share of 54% in 2020 and is projected to dominate the market during the forecast period (2021-2026). China, Japan, India, and South Korea are the major countries that are driving the market growth of high performance fibers in this region. In countries such as China high performance fibers are widely used in the automotive and aerospace and defence sector as they provide strength, endurance, and stability as required. According to Boeing forecasts, China will need around 7,600 new commercial aircraft, estimated at US$1.2 trillion over the next two decades. Also, according to China’s 13th Five Year Plan, by 2020, China is estimated to have more than 4,500 civil aircraft. Increasing use of carbon fibres, because of its considerable increased rigidity and strength and fatigue tolerance, have been beneficially improved for lowering wind turbine blade weights and growth towards the wind industry in India. According to the International Renewable Energy Agency, wind power, after hydropower, has dominated the renewable sector for many decades among all renewable energy technologies. By the end of 2018, onshore wind power had exceeded 542 GW of global cumulative installed capacity. Thus, the increasing demand for high performance fibers from various end use industries will drive the market in the forecast period. 

High Performance Fibers Market Drivers
  • Increasing Demand and Development of Organic High Performance Fibers 
In recent years, high-performance organic fibers have become very relevant as well. Aramids are one of the high-performance, synthetic organic fibers that are best known. Aramids exhibit greater tensile strength and thermal resistance than aliphatic polyamides due to the flexibility of the aromatic rings and the additional strength of the amide bonds (nylons). Higher strength and thermal tolerance are found in para-aramids, dependent on terephthalic acid and p-phenylenediamine, or p-amino benzoic acid. The high impact resistance of the para-aramids makes them favoured for bullet-proof body armour. In turn, increasing demand and development of organic high performance fibers would fuel the market demand for high-performance fibers in the coming years. 

  • Rising Popularity of Power Generation by Renewable Resources.
With the rise in environmental concerns and the lack of resources for non-renewables, wind and water power generation is increasing. Wind or water turbine blades are made from carbon fibers as they can withstand high pressure and are resistant to dust, chemicals or flames. Therefore an increase in the usage of renewable resources has also increased the growth of the demand for high-performance fibers. Modern wind turbines are increasingly cost-effective and more efficient, with multi-megawatt power ratings scaled up in size. New wind developments in the U.S. economy account for annual investments of over $10 billion. In order to drive the global wind industry, emerging markets and offshore markets will play a larger role. It is projected that offshore wind will rise from 6 GW in 2019 to almost 80 GW in 2024, taking its market share in new global installations from 10 percent in 2019 to 20 percent by 2024.

High Performance Fibers Market Challenges
  • High Manufacturing Cost and Non-Biodegradability Of High-Performance Fibers 
High performance fibers need tons of energy for its production, which further increases their cost relative to steel or aluminum. The cost of carbon fibers is directly related to the cost and yield of the precursor and the cost of conversion from which it is derived. Polyacrylonitrile (PAN) is actually based on carbon fiber, with a conversion efficiency of just 50 percent. Moreover, carbon fibers are non-biodegradable and will not decompose in the landfill, unlike other metals and non-metals. Carbon fiber recycling is very difficult and requires a lot of resources. Thus, long-lasting carbon fiber scraps have a poor environmental impact and serve as a limiting factor in the development of the demand for high-performance fibers.


High Performance Fibers Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the high performance fibers market. In 2020, the market of high performance fibers has been consolidated by the top ten players accounting for 64% of the share. Major players in the high performance fibers market are Teijin Ltd., Taishan Fiberglass Inc. (CTG), DuPont de Nemours, Inc., Chongqing Polycomp International Corp. (CPIC), Owens Corning, Toray Industries Inc., Mitsubishi Chemical Holdings Corp, Hexcel Corporation, Solvay, Nippon Electric Glass Co. Ltd., and others. 

Acquisition/Product Launches
  • In August 2019, Teijin acquired Renegade Materials Corp. to expand its carbon fiber business in aerospace.
  • In January 2016, as part of its global business expansion, Toyobo Co., Ltd. announced its decision to invest in expanding the production of high-performing polyethylene fibers currently available on the Dyneema® and Tsunooga™ trade mark. 

1. High Performance Fibers Market - Overview
        1.1 Definitions and Scope
2. High Performance Fibers Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. High Performance Fibers Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. High Performance Fibers Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. High Performance Fibers Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. High Performance Fibers Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. High Performance Fibers Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. High Performance Fibers Market - By Product Type(Market Size -$Million / $Billion)
        8.1 Market Size and Market Share Analysis
        8.2 Application Revenue and Trend Research
        8.3 Product Segment Analysis
9. High Performance Fibers Market - By Type(Market Size -$Million / $Billion)
10. High Performance Fibers - By Application Type(Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
11. High Performance Fibers- By Geography (Market Size -$Million / $Billion)
        11.1 High Performance Fibers Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 High Performance Fibers- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 High Performance Fibers- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 High Performance Fibers - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 High Performance Fibers - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. High Performance Fibers Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. High Performance Fibers Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. High Performance Fibers Market - Key Company List by Country Premium
15. High Performance Fibers Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Braj Binani Group
        15.3 Cytec Solvay Group
        15.4 E. I. du Pont de Nemours and Company
        15.5 Honeywell International, Inc.
        15.6 Mitsubishi Rayon Co., Ltd.
        15.7 Morgan Advanced Materials
        15.8 Royal DSM
        15.9 Teijin Limited
        15.10 Toray Industries, Inc.
        15.11 Zoltek Companies, Inc.
        15.12 Company 12
        15.13 Company 13 & More
*Financials would be provided on a best efforts basis for private companies
16. High Performance Fibers Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. High Performance Fibers Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

LIST OF TABLES

LIST OF FIGURES

1.US High Performance Fibers Market Revenue, 2023-2030 ($M)
2.Canada High Performance Fibers Market Revenue, 2023-2030 ($M)
3.Mexico High Performance Fibers Market Revenue, 2023-2030 ($M)
4.Brazil High Performance Fibers Market Revenue, 2023-2030 ($M)
5.Argentina High Performance Fibers Market Revenue, 2023-2030 ($M)
6.Peru High Performance Fibers Market Revenue, 2023-2030 ($M)
7.Colombia High Performance Fibers Market Revenue, 2023-2030 ($M)
8.Chile High Performance Fibers Market Revenue, 2023-2030 ($M)
9.Rest of South America High Performance Fibers Market Revenue, 2023-2030 ($M)
10.UK High Performance Fibers Market Revenue, 2023-2030 ($M)
11.Germany High Performance Fibers Market Revenue, 2023-2030 ($M)
12.France High Performance Fibers Market Revenue, 2023-2030 ($M)
13.Italy High Performance Fibers Market Revenue, 2023-2030 ($M)
14.Spain High Performance Fibers Market Revenue, 2023-2030 ($M)
15.Rest of Europe High Performance Fibers Market Revenue, 2023-2030 ($M)
16.China High Performance Fibers Market Revenue, 2023-2030 ($M)
17.India High Performance Fibers Market Revenue, 2023-2030 ($M)
18.Japan High Performance Fibers Market Revenue, 2023-2030 ($M)
19.South Korea High Performance Fibers Market Revenue, 2023-2030 ($M)
20.South Africa High Performance Fibers Market Revenue, 2023-2030 ($M)
21.North America High Performance Fibers By Application
22.South America High Performance Fibers By Application
23.Europe High Performance Fibers By Application
24.APAC High Performance Fibers By Application
25.MENA High Performance Fibers By Application
26.Teijin Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.E. I. du Pont de Nemours and Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Royal DSM, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Toray Industries, Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Honeywell International, Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Mitsubishi Rayon Co., Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Zoltek Companies, Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Cytec Solvay Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Morgan Advanced Materials, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Braj Binani Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)