High Performance Fibers Market (By Product: PBI, Carbon, Aramid; By Application: Aerospace & Defense, Construction & Building) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030.

Published Date : Jun 2022 | No. of Pages : 150+ Pages | Category : Advanced Materials

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 Performance Fibers Market Size 2021 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

  • Toray Industries, Inc.
  • Dupont
  • Teijin Limited
  • Toyobo Co. Ltd
  • DSM
  • Kermel S.A.
  • Kolon Industries, Inc.
  • Huvis Corp.

Market Segmentation

  • By Product Outlook 
    • Carbon Fiber
    • Polybenzimidazole (PBI)
    • Aramid Fiber
    • M5/PIPD
    • Polybenzoxazole (PBO)
    • Glass Fiber
    • High Strength Polyethylene
    • Others
  • By Application Outlook
    • Electronics & Telecommunication
    • Textile
    • Aerospace & Defense
    • Construction & Building
    • Automotive
    • Sporting Goods
    • Others
  • By Regional Outlook
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • U.K.
      • France
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
    • Central & South America
    • Middle East & Africa

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