Product Code: 56845
The global high-performance fibers market is estimated to witness a healthy growth, at an estimated CAGR of over 8%, over the forecast period. The major factors driving the growth of the market studied are increasing usage in renewable energy market and rising demand for greater safety & security.
- Need for high investment in research and development is likely to hinder the markets growth.
- New avenues in wind energy sector are likely to create opportunities for the market in the coming years.
- Asia-Pacific region is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.
Key Market Trends
Increasing Demand from the Aerospace and Defense Sector
- The high-performance fibers are a perfect choice for numerous aerospace and defense applications as they provide strength, endurance, and stability as required.
- These fibers are designed for specialized use, based on the requirement of specific applications. These fibers are credited with exceptional weight to strength ratio, robustness, resistance to tear, electrical conductivity, and also chemical resistance. However, these attributes may vary from product to product.
- In the defense industry, the use of high-performance fiber-reinforced plastics are present in missile defense, ground defense, and military marine.
- In Asia-Pacific, the aerospace industry is growing at a fast rate, as many of the countries have increased their spending on defense platforms and technologies. In addition, Southeast Asia continues to be the fastest-growing region in terms of passenger travel.
- Increasing use of high-performance fiber in aircraft, coupled with the increasing number of aircraft launched in the market, annually, is expected to provide a huge growth opportunity for the high-performance fiber market in the aerospace industry in the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy, in terms of GDP. China is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country's manufacturing sector is one of the major contributors to the country's economy.
- The Chinese aircraft industry depicted significant growth over the years. According to Boeing, China is estimated to require around 7,600 new commercial aircraft, valued at USD 1.2 trillion, over the next two decades.
- Foreign investment in China has also been extended into the aviation sector, which is projected to register a CAGR of 6%, owing to China's geographical location, which provides easy access to the industrial goods markets in the neighboring countries, as well as, other countries globally, making it a major access point for manufacturers and suppliers.
- China is the largest manufacturer of automobiles in the world. The country's automotive sector has been shaping up for product evolution, with the country focusing on manufacturing products, in order to ensure fuel economy, and to minimize emissions (owing to the growing environmental concerns due to mounting pollution in the country).
- The production is expected to reach 30 million units by 2020, owing to the "Made in China 2025" initiative support in upgrading the existing low-cost mass production to higher value-added advanced manufacturing. "Automobile Mid and Long-Term Development Plan", was released in 2017, with an objective to make China a strong auto power in the next ten years.
- Due to all such factors, the market for high-performance fibers in the region is expected to have a steady growth during the forecast period.
The high-performance fibers market is consolidated in nature. Some of the major players in the market include DuPont, Owens Corning, TEIJIN LIMITED, TORAY INDUSTRIES, INC., and Hexcel Corporation, among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
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TABLE OF CONTENTS
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Increasing Usage in Renewable Energy Market
- 4.1.2 Rising Demand for Greater Safety & Security
- 4.1.3 Other Drivers
- 4.2 Restraints
- 4.2.1 Need for High Investment in R&D
- 4.2.2 Impact of COVID-19 Pandemic
- 4.3 Industry Value-Chain Analysis
- 4.4 Porters Five Force Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5 MARKET SEGMENTATION
- 5.1 Type
- 5.1.1 Carbon Fiber
- 220.127.116.11 Composite Materials
- 18.104.22.168.1 Carbon Fiber Reinforced Polymer (CFRP)
- 22.214.171.124.2 Reinforced Carbon-Carbon (RCC)
- 126.96.36.199 Textiles
- 188.8.131.52 Microelectrodes
- 184.108.40.206 Catalysis
- 5.1.2 Aramid Fiber
- 220.127.116.11 Meta-Aramid
- 18.104.22.168 Para-Aramid
- 5.1.3 Glass Fiber
- 5.1.4 Polyphenylene Sulfide (PPS)
- 5.1.5 Other Types
- 5.2 End-user Industry
- 5.2.1 Aerospace and Defense
- 5.2.2 Automotive
- 5.2.3 Sporting Goods
- 5.2.4 Alternative Energy
- 5.2.5 Electronics and Telecommunications
- 5.2.6 Construction and Infrastructure
- 5.2.7 Other End-user Industries
- 5.3 Geography
- 5.3.1 Asia-Pacific
- 22.214.171.124 China
- 126.96.36.199 India
- 188.8.131.52 Japan
- 184.108.40.206 South Korea
- 220.127.116.11 Rest of Asia-Pacific
- 5.3.2 North America
- 18.104.22.168 United States
- 22.214.171.124 Canada
- 126.96.36.199 Mexico
- 5.3.3 Europe
- 188.8.131.52 Germany
- 184.108.40.206 United Kingdom
- 220.127.116.11 Italy
- 18.104.22.168 France
- 22.214.171.124 Rest of Europe
- 5.3.4 South America
- 126.96.36.199 Brazil
- 188.8.131.52 Argentina
- 184.108.40.206 Rest of South America
- 5.3.5 Middle-East and Africa
- 220.127.116.11 Saudi Arabia
- 18.104.22.168 South Africa
- 22.214.171.124 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 AGY
- 6.4.2 Bally Ribbon Mills
- 6.4.3 Braj Binani Group
- 6.4.4 DSM
- 6.4.5 DuPont
- 6.4.6 Hexcel Corporation
- 6.4.7 Honeywell International Inc.
- 6.4.8 Jushi Group Co., Ltd.
- 6.4.9 KUREHA CORPORATION
- 6.4.10 Mitsubishi Chemical Corporation
- 6.4.11 Owens Corning
- 6.4.12 PBI Fibers International
- 6.4.13 Sarla Performance Fibers Limited
- 6.4.14 SHANGHAI SRO PROTECTIVE EQUIPMENT CO.,LTD.
- 6.4.15 Solvay
- 6.4.16 TEIJIN LIMITED
- 6.4.17 TORAY INDUSTRIES, INC.
- 6.4.18 TOYOBO CO., LTD.
- 6.4.19 W. L. Gore & Associates, Inc.
- 6.4.20 Yantai Tayho Advanced Materials Co.,Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 New Avenues in Wind Energy Sector