Global High performance Fibers Market is segmented by product type (Carbon fibre, Polybenzimidazole (PBI), Aramid fiber, M5/PIPD, High Strength Polyethylene, Glass fiber, Polybenzoxazole (PBO) and Others), By Application(Flexible technical textiles, High-strength ropes, Rigid composites, others), by end user (Aerospace & Defense, Construction & Building, Electronics & Telecommunication, Automotive industry, Textile and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031.
High-performance Fibers Market Size
Global High-Performance Fibers Market reached USD 11 billion in 2022 and is expected to reach USD 23 billion by 2031, growing with a CAGR of 7.4% during the forecast period 2024-2031. During the forecast period, high-performance fibers (HPF) will increasingly reinforce composite materials for use in military vehicles, aviation, electronics and sporting goods.
Some high-performance fibers have unique properties such as strong abrasion resistance, non-conductivity, high thermal and chemical resistance to a wide range of organic solvents and good fabric integrity when exposed to high temperatures.
There are strict guidelines governing the use of aircraft manufacturers' materials related to the high-performance fibers market. Authorities such as the Federal Aviation Association (FAA), Federal Aviation Regulations (FAR), EPA, REACH and OSHA effectively implement rules regulating the use of materials, their processing and transportation and their disposal.
High performance Fibers Market Summary
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Metrics |
Details |
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CAGR |
7.4% |
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Size Available for Years |
2022-2031 |
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Forecast Period |
2024-2031 |
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Data Availability |
Value (USD) |
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Segments Covered |
Product, Application, End-User and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Region |
North America |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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High performance Fibers Market Dynamics
Rising Demand for Organic High Performance Fibers
High-performance organic fibers have also gained significant importance in recent years. For instance, the high-performance organic fiber Polybenzimidazole (PBI) was initially created by Celanese for the NASA Apollo space mission due to its inherent chemical stability and flame resistance. Aramid fibers have higher tensile strength and heat resistance than aliphatic polyamides due to the aromatic rings' flexibility and the amide bonds' durability.
Para-aramids, which depend on terephthalic acid and p-phenylenediamine or p-amino benzoic acid, have higher strength and temperature endurance. It has great impact resistance, making them a preferred material for bulletproof body armor. The demand for high-performance fibers in the upcoming years will be driven by rising demand and the development of organic high-performance fibers.
High Costs and Non-biodegradibility
In addition to their high energy requirements during production, high performance fibers are more expensive than steel or aluminium. The price of carbon fibers closely correlates with the price, yield and cost of conversion of the precursor from which it is formed. The conversion efficiency of polyacrylonitrile (PAN), which has a carbon fiber basis, is just 50%.
In contrast to other metals and non-metals, carbon fibers are non-biodegradable and won't break down in landfills. Recycling carbon fiber is very labor-intensive and expensive. Therefore, long-lasting carbon fiber scraps negatively influence the environment and function as a barrier to the growth of the market for high-performance fibers.
High performance Fibers Market Segmentation Analysis
The Global High-Performance Fibers Market is segmented based on product, application, end-user and region.
Rising nunber of New Aircraft Deliveries
During the forecast period, carbon fibers are anticipated to account for approximately 1/3rd of the global high-performance fiber market. Due to a large range of high-performance fiber applications in the aerospace industry, such as aeroplanes, rockets, satellites and missiles, carbon fibers are expanding far faster than other market segments.
In addition, due to the lightweight and rigidity of carbon fiber-reinforced composites, demand is anticipated to be fueled by their growing use in a range of aviation components. For instance, the Boeing Commercial Outlook 2022-2041 projects that by 2041, there would have been 41,170 commercial airliner deliveries worldwide.
Owing to the massively anticipated deliveries, it is expected that there would be an increase in the demand for carbon fibre on a global scale for the production of aircraft.
Global High performance Fibers Market Geographical Penetration
Presence of Key Aircraft Manufacturers in North America
North America is projected to account for around 1/3rd of the global market for high performance fibers in 2022. Due to the existence of important aircraft manufacturers, the region significantly contributes to the rising demand for the product. North America is predicted to cover around 22% of the global fleet at the end of 2041, according to Boeing’s commercial outlook for 2022-2041.
It is also estimated that 9,310 fleet deliveries will be made overall during the next 20 years, with single-aisle deliveries making up nearly 70% of all deliveries in the area. The aerospace industry is relying more on composite materials for everything from helicopter rotor blades to aeroplane or jet cabins. Approximately 3.3% of North America’s total GDP in 2021 was spent on the military, according to a World Bank report.
High performance Fibers Companies
The major global players include Hyosung Advanced Materials, Bally Ribbon Mills, 3B – the fiberglass company, Honeywell International Inc, The InterTech Group, Inc, JEC Group, Koninklijke DSM N.V, Sarla Performance Fibers Limited, KUREHA CORPORATION and SRO Group.
COVID-19 Impact on High performance Fibers Market
COVID Impact
The impacts of the pandemic were severe globally and the high performance fibre market was not exempt. Certain markets for the material were hit really hard. International air travel, for instance, was less than 10% of what it would have been in the commercial aviation industry in mid- to late 2020 and it is likely to return to pre-covid levels until at least 2024.
Therefore, there has been some slowdown in the production of commercial aircraft. Prior to the pandemic, the CFRP-intensive A350 was produced at an average of 12 per month; post-COVID, only five are produced monthly. Six 787s are being produced each month as opposed to 14 previously. Because of this, the aerospace sector only used about 14 kt of carbon fibre in 2021, compared to its annual consumption of over 20 kt in 2019.
AI Impact
Researchers and engineers can optimize the design and development of high performance fibers owing to the enhanced modelling and simulation techniques made possible by AI. To find the best fiber compositions and production methods, machine learning algorithms may analyze enormous volumes of data, including material qualities, molecular structures and processing factors.
It quickens the development of new fiber materials with higher performance qualities, like increased tensile strength, improved heat resistance and superior chemical resistance. AI plays a crucial role in supporting research and development within the continuous fiber composites field by assisting researchers in navigating scientific literature, identifying potential areas for further exploration.
Russia-Ukraine War Impact
Several nations have implemented trade limitations and export prohibitions as tensions between Russia and Ukraine rise. The steps are intended to stop the transfer of technological and strategic resources to armed rivals. However, they also have an impact on the high performance fibers market since businesses could have trouble getting access to crucial raw materials or production-critical technology.
The fibre sector in the region has traditionally been highly dependent on imports. The majority of product and accessories are still bought from imported Western brands, despite the fact that numerous local enterprises have been attempting to meet all domestic demand. Export limitations can disrupt the global supply chain and raise the price and accessibility of high-performance fibres.
Key Developments
- In March 2021, Boulder, Colorado-based Zayo Group Holdings, Inc., a privately held corporation, stated it has signed a binding contract to buy Intelligent Fibre Network (IFN). IFN serves over 400 clients with fiber-based connection solutions and runs a 5,000 route-mile network in several Indiana regions, including Indianapolis, Fort Wayne, Columbus, Terre Haute and South Bend.
- New Carbon Fibre Reinforced Polypropylene Filament from Braskem (America’s leading thermoplastic resin manufacturer), which was launched in April 2021, is lightweight and incredibly rigid, making it perfect for automotive, aerospace, nautical and sporting goods applications.
- In December 2020, Boeing, an American multinational corporation that develops, produces and sells aircraft, helicopters, rockets, satellites, telecommunications gear and missiles internationally and ELG Carbon Fibre, a top global recycler of carbon fiber reinforced plastics (headquartered in Coseley in the West Midlands), announced a partnership to recycle surplus aerospace-grade composite material.
Why Purchase the Report?
- To visualize the Global High-Performance Fibers Market segmentation based on product, application, end-user and region and understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of high-performance fibers market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The Global High-Performance Fibers Market Report Would Provide Approximately 61 Tables, 66 Figures And 204 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
