Global High Performance Fibers Market By Product (Carbon Fiber, Aramid Fiber, Polybenzoxazole (PBO), Polybenzimidazole (PBI), M5/PIPD, Glass Fiber, High Strength Polyethylene and Others) By Application (Aerospace & Defense, Textile, Sporting Goods, Construction & Building, Electronics & Telecommunication, Automotive and Others) By Region, Industry Analysis and Forecast, 2019 - 2025
Special Offering: Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
Get in-depth analysis of the COVID-19 impact on the High Performance Fibers Market
Market Report Description
The Global High Performance Fibers Market size is expected to reach $23.9 billion by 2025, rising at a market growth of 10.5% CAGR during the forecast period. High-performance fibers are engineered for a particular use, based on the demands of specific applications. Such fibers are credited with an outstanding weight-to-strength ratio, tear resistance, robustness, electrical conductivity, as well as chemical resistance. Nevertheless, these features can differ from product to product.
Global High Performance Fibers Market Size
The accelerated use of high-performance fiber (HPF) to strengthen composites for use in military vehicles, aircraft, electronics, and sports goods is expected to boost industry growth over the forecast period. Some of the high-performance fibers have advantageous features such as high thermal and chemical resistance to most organic solvents, high abrasion resistance, non-conductivity and good fabric quality at high temperatures. In addition, the good strength-to-weight ratio ensures high rigidity, thereby offering a high level of efficiency in aerospace applications.
High Performance Fibers Market Share
The HPF industry is subject to strict rules and regulations over the use of materials adopted by aircraft manufacturers. Regulations related to the use of materials, processing, and transport and disposal of waste are laid down by agencies like the Federal Aviation Regulations (FAR), the Federal Aviation Association (FAA), the EPA, REACH and OSHA. Increasing technological innovations on the use of additive manufacturing in aerospace production are set to open up new opportunities for the high-performance fiber industry. Companies and industries are concentrating on research and development of HPF reinforced composites to enhance their strength, while addressing the growing demand for lightweight materials.
Based on Product, the market is segmented into Carbon Fiber, Aramid Fiber, Polybenzoxazole (PBO), Polybenzimidazole (PBI), M5/PIPD, Glass Fiber, High Strength Polyethylene and Others. Based on Application, the market is segmented into Aerospace & Defense, Textile, Sporting Goods, Construction & Building, Electronics & Telecommunication, Automotive and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Free Valuable Insights: Global High Performance Fibers Market to reach a market size of $23.9 billion by 2025
High Performance Fibers Market Cardinal Matrix
The major strategies followed by the market participants are Partnerships, Product launches and Acquisitions. Based on the Analysis presented in the Cardinal matrix, Honeywell International, Inc., and Sinopec Limited are some of the forerunners in the High Performance Fibers Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Toray Industries, Inc., Teijin Limited, Honeywell International, Inc., Mitsubishi Chemical Holdings Corporation, Koninklijke DSM N.V., Toyobo Co., Ltd., Bally Ribbon Mills, Binani Industries Limited, Sarla Performance Fibers Limited, and Sinopec Limited.
Recent Strategies Deployed in High Performance Fibers Market
» Partnerships, Collaborations, and Agreements:
- Aug-2019: Toray signed a manufacturing and supply agreement with BASF. This agreement was focused on producing continuous fiber-reinforced thermoplastic (CFRT) tapes for industrial and automotive markets. This agreement enhanced the manufacturing capacity by providing wider commercial availability of CFRT materials.
- Apr-2019: Honeywell collaborated with Heathcoat Fabrics, a manufacturer of technical textiles. In this collaboration, Honeywell provides its Spectra fibre to the latter company for helping it in producing a new range of industrial and military applications.
- Jan-2019: Teijin extended its contract with Bombardier Aerostructures and Engineering Services. Under this contract, Teijin supplies Tenax carbon fiber material to the latter company.
- Nov-2018: Honeywell teamed up with Kinis, a barefoot footwear company. In this collaboration, the latter company launched Nomad 804, a new line of high-performance sock-like footwear. This footwear comes with Honeywell's Spectra fibre capabilities, which helps the athletes in building stronger market presence during training sessions and minimizes injury risk.
- Oct-2018: Sinopec signed a MoU with BASF for expanding its upstream and downstream chemical production in China. The partnership was aimed at further expanding its 50:50 joint venture company; BASF-YPC Company, Limited (BASF-YPC).
» Acquisition and Mergers:
- Sep-2019: Teijin acquired Benet Automotive s.r.o., a supplier of automotive composites and components. The acquisition strengthened the company's solution development capabilities as a component supply partner of automotive OEM customers in Europe.
- Aug-2019: Teijin took over Renegade, a supplier of highly heat-resistant thermoset prepreg for the aerospace industry. The acquisition accelerated the aerospace business of Teijin to include production capabilities for high-temperature prepreg materials. These materials are used for manufacturing engine parts in next-generation aircraft.
- Dec-2018: PHP Fibers, a Toyoba Group JV company, agreed to acquire UTT Technische Textilien GmbH & Co. KG, a producer of fabrics for airbags. The acquisition helped the company in supplying everything from yarn to fabrics.
- Jul-2018: Toray completed the acquisition of TenCate Advanced Composites Holding BV, a manufacturer and distributor of carbon fiber composite material. The acquisition helped the former company in offering a wider product lineup to customers.
» Geographical expansions:
- Jun-2018: Teijin opened a new carbon fiber production facility in Greenwood for marking the expansion in the United States. The new facility operates through its subsidiary, Teijin Carbon Fibers. The expansion was aimed at evolving its carbon fiber business further.
» Product Launches and Product Expansions:
- Oct-2019: Honeywell introduced Spectra Shield® 6472, an addition to its high- performance hard armor suite of products. The new shield fulfills the stringent needs of military protection.
- Oct-2019: Bally Ribbon launched E-WEBBINGS® e-textile product base. This serves as a customizable base for textile applications. These E-Webbings narrow woven fabrics are made from a wide variety of fibers and conductive elements.
- May-2019: Bally Ribbon introduced its line of safety webbing and tapes. These tapes are ideal for rescue and demanding fire applications.
Scope of the High Performance Fibers Market Analysis
- Carbon Fiber
- Aramid Fiber
- Polybenzoxazole (PBO)
- Polybenzimidazole (PBI)
- Glass Fiber
- High Strength Polyethylene
- Aerospace & Defense
- Sporting Goods
- Construction & Building
- Electronics & Telecommunication
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Toray Industries, Inc.
- Teijin Limited
- Honeywell International, Inc.
- Mitsubishi Chemical Holdings Corporation
- Koninklijke DSM N.V.
- Toyobo Co., Ltd.
- Bally Ribbon Mills
- Binani Industries Limited
- Sarla Performance Fibers Limited
- Sinopec Limited
Unique Offerings from KBV Research
- Exhaustive coverage
- Highest number of market tables and figures
- Subscription based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
High Performance Fibers Market Related Reports:
What would be the size of high performance fibers market in 2025?
According to a new report published by KBV Research, The global high performance fibers market size is expected to reach $23.9 billion by 2025.
What are the key factors drive high performance fibers industry?
The major factors that are anticipated to drive the high performance fibers industry include growing demand of the fibers industry, recent developments in carbon fiber production, investments in fiber technology.
What is the CAGR of high performance fibers market by 2025?
The expected CAGR of high performance fibers market is 10.5% from 2019 to 2025.
What CAGR is the North America high performance fibers market projected to grow in the forecast period (2019-2025)?
North America High performance fibers Market would witness market growth of 10% CAGR during the forecast period (2019-2025).