The High Performance Fibers market is expected to be worth US$12.91 billion in 2022 and US$29.19 billion in 2032, with a CAGR of 8.5 % from 2022 to 2032. The growth of global market share for high-performance fibers was supported by a strong electronic equipment manufacturing sector.
The use of high-performance fibers in the manufacture of reliable and efficient semiconductors is a key element driving sales of high-performance fibers. Another factor driving the demand for high-performance fibers is the use of carbon, Aramid and glass in manufacture.
As a result, the global high-performance fibers market is expected to witness significant growth during the forecast period. Due to its numerous essential properties of, such as chemical resistance to most organic solvents, high abrasion resistance and non-conductivity, the sales of High-performance fibers are expected to increase.
The high stiffness and excellent strength-to-weight ratio of high-performance fibers make them ideal for aerospace applications, hence demand is increasing for high-performance fibers. Given the above advantages, HPF is the ideal product for a wide range of end users.
In addition, high-performance fibers are also used in the manufacture of composite materials for vehicles and boats in the defense industry. These factors are expected to drive the high performance fiber market outlook between 2022 and 2032.
The expansion of high-performance fiber market share is hampered by a lack of high-value products. Also, unlike other metals and non-metals, carbon fiber is not biodegradable and will not degrade in landfills. Carbon fiber recycling is energy-intensive and extremely difficult. Long-life carbon fiber waste has a negative impact on the environment and hampers the growth of the high-performance fiber market.
Competitive landscape
Key players in the high performance industry The fiber optic market with Extensive sales networks and strong market positions drive their investments in research and development. Thanks to their strong technical and market development skills, they can improve current items for new uses.
As they provide the essential raw materials needed to start the manufacturing process of various fibers, the raw material suppliers play an important role in the value chain. The expansion and profitability of the global market is limited by the high production costs of PBOb-, PBI, M5/PIPD and Aramid fibers.
The following companies are among the major players in the global high-performance fibers market: Toray Industries, Inc., DuPont; Teijin Ltd., Toyobo Co. Ltd. Ltd. Ltd. GmbH. Ltd., DSM; Kermel S.A., Columbus Industries, Inc., Huvis Corp.
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