High-Performance Fibers Market Trends, Growth, & Share-2031

(MENAFN- Straits Research) Introduction

High-performance fibers are developed for applications that require exceptional tensile strength, stiffness, heat resistance, or chemical resistance. Typically, these fibers are more durable and flexible than typical fibers. Carbon fiber is one of the most essential high-performance fibers in aerospace and military applications. There are variations in the chemical, thermal, and electrical conductivity of carbon fiber, despite its design for strength and stiffness. The performance of produced textiles is strongly dependent on the fiber's qualities. They are the origin of high-performance fibers due to their unusual molecular and phase configurations.

Market Dynamics Demand for Security & Protective Equipment to Drive the Global High-Performance Fibers Market

High-performance fibers are often utilized in two specific applications, including reinforcement in composites found in military vehicles, sporting goods, and airplanes and fabrics used in flame-resistant clothing and bulletproof vests. They are also utilized in a variety of other applications, including the reinforcement of circuit boards, jet engine enclosures, tennis strings, hockey sticks, protective gloves, sailcloth, flame- and cut-resistant clothing, snowboards, helmets, filament wound pressure vessels, body armor, optical fiber cable systems, ropes, and cables, among many others. Every application has distinct requirements, but they all align with the product's essential properties, which include high strength, toughness, modulus, little creep, thermal dimensional stability, and low weight.

During the anticipated period, it is envisioned that demand for security and protection measures will rise in a range of end-use industries, such as the military and construction. Due to its excellent fiber, chemical, mechanical, and thermal properties, high-performance fibers are frequently employed in producing protective clothing, equipment, and accessories. The penetration of high-performance fibers in security and protection applications has expanded dramatically in recent years, and this trend is anticipated to continue over the forecast period. Numerous end-use industries, including healthcare/medical, mining, oil & gas, manufacturing, building & construction, and the military, require protective clothing regularly.

Numerous textile manufacturers incorporate materials such as Nomex, Kevlar, and nylon into military protective apparel. Due to their exceptional durability, flame resistance, and anti-ballistic properties, these fibers are ideally suited for security and protection applications. Personal protection equipment penetration is predicted to expand soon due to the rising workplace fatalities rate and employee safety consciousness. The expansion of the industrial sector in developing nations like India, China, Brazil, Japan, and Singapore is predicted to increase demand for PPE goods over the forecast period. This will boost the high-performance fibers market.

Aerospace and defense applications account for the majority of carbon fiber demand. Due to its excellent strength-to-weight ratio, the aerospace and defense industries are avid carbon fiber consumers. Due to its ability to dramatically reduce an object's weight, carbon fiber is commonly used in military aircraft and helicopters. The aerospace and defense industries in Europe and North America have developed in recent years, and this growth is expected to continue in the coming years.

The presence of global aerospace heavyweights such as Airbus and Boeing in Europe and North America has increased the demand for carbon fiber in the region. Commercial aviation's rise has also contributed to the growth of the market. Due to globalization, the number of persons using aviation services has expanded dramatically. This trend is predicted to increase demand for carbon fiber in developing new aircraft. Consequently, offering significant potential for the market for high-performance fibers.

Regional Insights

The Asia Pacific will likely command the market and account for a revenue holding of around 42.8%. The increasing usage of high-performance fibers as a substitute for asbestos and steel, as well as the rising demand for security and protection measures across various end-use industries, are expected to substantially impact market growth throughout the forecast period. Two of the world's largest economies, China and India, are propelled by safety and protection measures. Consequently, this will likely create a considerable growth opportunity for the market in the following years. These businesses include healthcare/medical, mining, oil & gas, manufacturing, building & construction, and the military.

Increasing investments in the construction, manufacturing, and healthcare sectors will fuel product demand throughout the forecast period. In addition, the need for high-performance fibers is anticipated to increase in the following years due to increased internet usage in developing countries, rapid industrialization, and robust growth in the telecom industry. Due to the demand for fiber-reinforced composite materials in the automotive, electronics & telecommunications, building & construction, and wind energy industries, the Asia Pacific high-performance fibers market is expected to expand quickly. The predicted increase is attributed to the creation of new products, the affordable supply of raw materials, and the installation of production facilities by industry leaders. Rising demand for fibers from regional manufacturers of electronics and telecommunications, cars, and aircraft contributes to the region's dominance.

North America is expected to hold a revenue share of around 28.5% during the forecast period. North America considerably contributes to the need for high-performance fibers due to its sizable aviation manufacturing industry and the presence of major aircraft manufacturers. Since a few years ago, the market has been expanding due to the stringent criteria imposed by numerous regulatory authorities, such as the HSE, ANSI, and state bodies, regarding the safety and protection of workers in various industries. This is projected to play a vital influence in the growth of the North American high-performance fibers market throughout the forecast period.

The American National Standards Institute (ANSI) in the United States has produced safety standards for a wide range of personal protective equipment, such as protective gloves, to ensure workers' safety in various industries. In addition, it is anticipated that the market will witness substantial growth throughout prediction due to the soaring demand for aramid fibers in numerous application sectors, such as tire reinforcement, electrical insulation, aerospace, frictional materials, and optical fibers. The market for high-performance fibers is driven by the increased need for passenger transportation and rising environmental concerns due to rising carbon emissions, projected to increase demand for lightweight materials over the forecast period.

Key Highlights

• The global high-performance fibers market had a revenue holding of USD 11.95 billion in 2021. It is expected to reach USD 25.42 billion by 2030, growing at a CAGR of 8.75% during the forecast period (2022-2030).
• Based on the material type, the carbon fiber section is envisioned to expand at a CAGR of 7.87% and hold the largest market share.
• Based on the application, the aerospace & defense section is envisioned to advance at a CAGR of 8.7% and hold the largest market share.
• Based on regional analysis, the Asia Pacific will likely command the market and account for a revenue holding of around 42.8%.