High Performance Fibers Market Size, Trends, Share, Growth | Report 2022-2030
The global high performance fibers market was valued at USD 11.97 billion in 2021 and it is predicted to surpass around USD 25.5 billion by 2030 with a CAGR of 8.77% from 2022 to 2030.
High strength to weight ratio coupled with rigidity offered to the aerospace and automotive components by these fibers is projected to drive the market. 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.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 11.97 billion |
| Revenue Forecast by 2030 | USD 25.5 billion |
| Growth rate from 2022 to 2030 | CAGR of 8.77% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Product, application, region |
| Companies Covered | Toray Industries, Inc.; Dupont; Teijin Ltd.; Toyobo Co. Ltd.; DSM; Kermel S.A.; Kolon Industries, Inc.; Huvis Corp. |
Product Insights
The Polybenzimidazole (PBI) fibers segment is expected to register the fastest CAGR of more than 14.00% from 2022 to 2030 owing to superior properties offered by the product, such as high glass transition temperature, no melting point, and extremely high heat deflection temperature. PBI fibers are finding applications in several products including heat and safety garments, such as firefighter uniforms and safety gloves. PBI fibers are widely used for several applications with other high-performance fibers like Kevlar. PBI fibers exhibit high flexibility, low moisture regains, low tenacity, superior strength to weight ratio, and do not melt & burn. They are also used in plastic reinforcements, for chemical and heat resistant filters, and also for several civil engineering applications.
Carbon fiber was the second-largest product segment and accounted for over 22% share of the global market revenue in 2021 owing to a wide range of applications in the aerospace industry including aircraft, rockets, satellites, and missiles. In addition, the rising penetration of CFRCs in aircraft components, owing to their lightweight and rigidity properties, is expected to drive the demand. Carbon fiber structures weigh half of their steel counterparts, and around one-third of aluminum. However, the usage of CFRC costs significantly more than metals. The high cost linked with carbon fiber has restricted its consumption to performance vehicles, such as jet fighters, spacecraft, racing cars, sports cars, racing yachts, and notably Airbus and Boeing airliners.
Application Insights
The aerospace and defense application segment led the market and accounted for over 44% share of the global revenue in 2021. It is expected to register a steady CAGR from 2022 to 2030as the industry is moving towards lightweight materials in an attempt to improve the cost-efficiency and environmental performance of the aircraft. Hence, high-strength, lightweight, and fiber-reinforced composite materials are vital to the aircraft manufacturing industry. Lightweight materials and structures provide an advantage in aerospace applications as it offers high strength and stiffness at a reduced weight, substantially reducing the fuel consumption. These materials enable to carry more fuel and payload, thereby increasing mission duration and idle time for aircraft in the case of military aircraft.
Increasing carbon fiber demand in the automotive industry is expected to drive market growth over the forecast period. Increasing fuel prices have triggered the need for fuel-efficient vehicles. Presently, a substantial number of vehicles/cars run on conventional fuel technology, which has stimulated the demand for fuel-efficient vehicles. The automotive application segment is projected to register a significant CAGR over the forecast period on account of the rising use of fiber-reinforced composite materials in the industry due to curb weight reduction trends. Reduction in curb weight drastically increases fuel efficiency and reduces vehicular pollution.
Regional Insights
The Asia Pacific region led the market and accounted for more than 43.00% share of global revenue in 2021. It is also projected to register the fastest CAGR over the forecast period owing to the rise in demand for fiber-reinforced composite materials in the automotive, electronics, and construction sectors. Also, the product developments, availability of raw materials at affordable prices, and setting up of manufacturing facilities by market leaders are expected to drive the market. The growing need for security & protection measures in various end-use industries, such as oil & gas, mining, manufacturing, healthcare/medical, military, and building & construction, are fuelling product usage in major economies, such as China and India.
Also, increasing usage of high-performance fibers as an alternative to asbestos and steel is likely to drive market growth. North America also held a considerable market share in 2021 as the region contributes immensely to the product demand owing to the presence of key aircraft manufacturers. Also, the regional market is expected to witness positive growth trends owing to the rising defense expenditure in the region, especially in the U.S. Stringent regulations laid down by various regulatory bodies, such as HSE, ANSI, and state bodies, pertaining to the security and protection measures of workers in various industries are driving the demand for protective clothing over the past few years. This is likely to be a key factor driving the regional market during the forecast period.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on High Performance Fibers Market
5.1. COVID-19 Landscape: High Performance Fibers Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global High Performance Fibers Market, By Product
8.1. High Performance Fibers Market, by Product, 2022-2030
8.1.1. Carbon Fiber
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Polybenzimidazole (PBI)
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Aramid Fiber
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. M5/PIPD
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.6. Polybenzoxazole (PBO)
8.1.6.1. Market Revenue and Forecast (2017-2030)
8.1.7. Glass Fiber
8.1.7.1. Market Revenue and Forecast (2017-2030)
8.1.8. High Strength Polyethylene
8.1.8.1. Market Revenue and Forecast (2017-2030)
8.1.9. Others
8.1.9.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global High Performance Fibers Market, By Application
9.1. High Performance Fibers Market, by Application, 2022-2030
9.1.1. Electronics & Telecommunication
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Textile
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Aerospace & Defense
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Construction & Building
9.1.4.1. Market Revenue and Forecast (2017-2030)
9.1.5. Automotive
9.1.5.1. Market Revenue and Forecast (2017-2030)
9.1.6. Sporting Goods
9.1.6.1. Market Revenue and Forecast (2017-2030)
9.1.7. Others
9.1.7.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global High Performance Fibers Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.2. Market Revenue and Forecast, by Application (2017-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
Chapter 11. Company Profiles
11.1. Toray Industries, Inc.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Dupont
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Teijin Limited
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Toyobo Co. Ltd
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. DSM
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Kermel S.A.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Kolon Industries, Inc.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Huvis Corp.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers