High Performance Fiber Market

High Performance Fiber Market Study by Carbon, Polybenzimidazole, Aramid, M5/PIPD, Polybenzoxazole, Glass, and High-strength Polyethylene Fiber from 2024 to 2034

Analysis of High Performance Fiber Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

High Performance Fiber Market Outlook (2024 to 2034)

The valuation of the global high-performance fiber market size is set to reach US$ 13.86 billion in 2024. As per this detailed study by Fact.MR, the market is projected to climb to a value of US$ 31.92 billion by the end of 2034, expanding at a CAGR of 8.7%.

High-performance fibers are designed for certain applications requiring extraordinary stiffness, heat resistance, chemical resistance, or strength. In comparison to optimum categories, there is a large range of fibers available with a wide range of attributes. Compared to normal fibers, these fibers often have higher modulus and toughness.

Production of glass, the earliest recognized high-performance fiber, dates back to the 1930s. The glass fibers of today are used in applications including insulation, materials that withstand flames, and reinforcement for fiberglass composites used in boats and bathtub enclosures.

High-performance fibers also possess superior heat resistance, flame retardancy, chemical resistance, operating temperature, and modulus in addition to having high tensile strength and modulus. These properties are contributing to the expansion of the high performance fiber market size.

Key Market Growth Drivers

  • Most high-performance fibers are strong and have a high tensile modulus. Many of them are also known for having strong thermal resistance, meaning they resist heat and do not catch fire. As a result, garments made of these fibers can be used in situations where fire safety is necessary.
  • High-performance fibers are designed to offer attributes like superior strength, high modulus, thermal stability in elevated temperatures, and resilience against chemicals and solvents. These qualities are driving their increasing utilization across diverse sectors including aerospace, automotive, electronics, and textiles.
  • Manufacturers are looking to develop bio-based and sustainable products to meet the increasing demand for eco-friendly products.
  • Increasing need for lightweight solutions in the aerospace and automotive sectors is contributing to market growth.
  • Lightweight structure and excellent strength of high-performance fiber are boosting their utilization in the manufacturing of sporting goods such as bicycle frames, golf shafts, and tennis and badminton rackets.
Report Attribute Detail
High Performance Fiber Market Size (2024E) US$ 13.86 Billion
Forecasted Market Value (2034F) US$ 31.92 Billion
Global Market Growth Rate (2024 to 2034) 8.7% CAGR
East Asia Market Share (2024E) 21.7%
North America Market Value (2024E) US$ 1.68 Billion
Electronics & Telecommunication Segment Value (2034F) US$ 7.25 Billion
Key Companies Profiled Mitsubishi Corporation; 3B Fiberglass; Toray Industries Inc.; AGY Holdings; DuPont; Honeywell International; PBI Performance Products; BASF SE; GuangWei Group; Teijin Ltd.; Merck KGaA; Kolon Industries, Inc.; Kordsa; HUVIS Corp.; Zhongfu Shenying Carbon Fiber Co. Ltd.

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Which High Performance Fiber Market Trends are Manufacturers Capitalizing On?

“Introduction of Hybrid Fibers, Nanofiber Reinforcement, and Functionalized Fibers”

Continuous advancements in material technologies remain fundamental in driving market expansion. Recent advancements in manufacturing processes, material compositions, and composite technologies are creating fresh prospects across various industries by enhancing the properties and adaptability of high-performance fibers.

Key innovations in recent times include hybrid fibers, which combine materials for enhanced performance, nanofiber reinforcement to bolster durability and strength, and functionalized fibers tailored with application-specific properties. These developments are pivotal in contributing to market expansion and facilitating exploration into new industries and opportunities.

What are the Hindrances to High Performance Fiber Market Growth?

“Challenges Associated with Recycle and Disposal of High Performance Fibers”

Carbon fiber, a well-known high-performance material, is difficult to recycle because of its intricate composition and production methods. Sustainability initiatives are hampered by the difficulty of recovering and recycling carbon fiber resources, which raises environmental issues.

One key difficulty facing manufacturers is finding efficient ways to recycle carbon fiber products. The huge waste produced by the widespread usage of carbon fibers leads to environmental concerns. Despite obstacles, recycling programs are investigating ways to increase quality, strength, safety, and durability in future applications by utilizing polymers, nanoparticles, and hybrid materials.

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Country-wise Insights

The East Asia region is estimated to account for a high performance fiber market share of 21.7% in 2024. Also, the North American region is projected to hold a significant market share by 2034 due to the increasing application of high-performance fibers in the automotive and aerospace sectors.

Why is China Attracting Manufacturers of High Performance Fibers?

“China Gaining Attention of Manufacturers Due to Extensive Production Capability”

Attribute China
Market Value (2024E) US$ 1.74 Billion
Growth Rate (2024 to 2034) 10.2% CAGR
Projected Value (2034F) US$ 4.6 Billion

In the East Asia region, China is estimated to hold 57.7% revenue share in 2024. China is well known as a manufacturing powerhouse with a well-established infrastructure attracting manufacturers from all over the world. The excellent production capacity and capabilities enable manufacturers to produce high-performance fibers on a large scale to meet increasing demand from various industries. Also, expenditures related to production are less as the cost of labor and raw materials is budget-friendly compared to many nations.

What Makes the United States a Key Market in This Business Space?

“Growth of Automobile and Aerospace Sectors Creating Lucrative Opportunities”

Attribute United States
Market Value (2024E) US$ 1.34 Billion
Growth Rate (2024 to 2034) 10.3% CAGR
Projected Value (2034F) US$ 3.59 Billion

In North America, the United States is poised to account for 80.1% market share in 2024. The United States is one of the leading players in the aerospace defense and automotive sectors. The rising need for lightweight and innovative materials in these sectors is boosting sales of high-performance fibers in the country.

High-performance fibers are being used extensively in the United States’ automotive sector to help with energy efficiency and emissions reduction issues. Specifically, carbon fibers are used in the production of lightweight parts, which helps advance the broader movement toward environmentally friendly and sustainable automobiles.

Another industry in the United States that highly demands high-performance fibers is the sports and leisure industry. Sportswear, footwear, and equipment all use high-performance fibers, which is in line with the need for innovative and high-performing goods.

Category-wise Insights

Based on product type, the market is segmented into carbon fiber, polybenzimidazole fiber, aramid fiber, M5/PIPD fiber, polybenzoxazole fiber, glass fiber, and high-strength polyethylene fiber. The carbon and glass fiber segments are collectively estimated to hold a significant market share.

What are the Benefits of High Performance Fibers in Military Hardware and Aircraft Production?

“Key Role of High Performance Fibers in Weight Reduction and Expansion of Cargo Capacity”

Attribute Aerospace & Defense
Segment Value (2024E) US$ 1.33 Billion
Growth Rate (2024 to 2034) 8.6% CAGR
Projected Value (2034F) US$ 3.05 Billion

Demand for high-performance fibers in the aerospace and military sectors is on the rise because of their remarkable strength, low weight, and longevity. These fibers, which include aramid and carbon fibers, offer significant benefits in the production of military hardware and aircraft. They also help reduce weight, which improves overall performance and is essential for aerospace and defense applications because of their durability in harsh circumstances, including as high temperatures and impacts.

Sales of high-performance fibers are projected to rise at a noteworthy pace in the aerospace and military sectors because these fibers help strengthen aircraft structures, boost cargo capacity, and improve defensive systems' overall performance. All these benefits of high-performance fibers are boosting their application in these sectors specifically.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Competitive Landscape

Key players in the high performance fiber market include Mitsubishi Corporation, 3B Fiberglass, Toray Industries Inc., AGY Holdings, DuPont, Honeywell International, PBI Performance Products, BASF SE, GuangWei Group, Teijin Ltd., Merck KGaA, Kolon Industries, Inc., Kordsa, HUVIS Corp., Zhongfu Shenying, and Carbon Fiber Co. Ltd.

  • In October 2023, the high-performance fiber and material portfolio of Innegra Technologies (Greenville, S.C., U.S.) was acquired by Quantum Materials LLC (Quantum, Colfax, N.C., U.S.), a vertically integrated manufacturer of multifilament and monofilament yarns, elastomeric woven suspension fabrics, and industrial textiles. To assist Quantum's expansion into the technical and industrial textile solutions market for composites and textiles, Innegra will act as a cornerstone product.
  • In March 2023, a novel carbon fiber (50k carbon fiber) for high-strength pressure vessels was introduced by SGL Carbon, expanding its range of materials.
  • In November 2022, to build bridges and other infrastructure projects, scientists at the Indian Institute of Technology (Hyderabad) created an inexpensive material called Ultra-High Performance Fiber Reinforced Concrete (UHPFRC). UHPFRC, created at IITH, is almost twice as expensive as proprietary goods that are sold commercially.
  • In October 2022, a significant improvement to Toray Composite Materials America, Inc.'s carbon fiber facility in Decatur, Alabama, was revealed. The US$ 15 million investment is intended to double the production capacity of the high-performance TORAYCATM T1100 carbon fiber and add critical redundancy.
  • In October 2022, with the introduction of TORAYCATM T1200 carbon fiber, Toray Industries, Inc. broke the world record for strength at 1,160 Ksi. By making carbon fiber-reinforced polymers lighter, this breakthrough not only promotes environmental sustainability but also creates new opportunities for high-strength applications. Its many uses in consumer goods, defense, aerospace constructions, and alternative energy demonstrate its versatility across a wide range of sectors.

Fact.MR provides detailed information about the price points of key manufacturers of high performance fibers positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.

Segmentation of High Performance Fiber Market Research

  • By Product Type :

    • Carbon Fiber
    • Polybenzimidazole Fiber
    • Aramid Fiber
    • M5/PIPD Fiber
    • Polybenzoxazole Fiber
    • Glass Fiber
    • High-strength Polyethylene Fiber
  • By Application :

    • Electronics & Telecommunication
    • Textiles
    • Aerospace & Defense
    • Construction & Buildings
    • Automotive
    • Sporting Goods
  • By Region :

    • North America
    • Western Europe
    • Eastern Europe
    • Latin America
    • East Asia
    • South Asia & Pacific
    • Middle East & Africa

- FAQs -

How much is the high performance fiber market valued at in 2024?

The global high performance fiber market is estimated at US$ 13.86 billion in 2024.

What is the future of the high performance fiber business?

Sales of high performance fiber are projected to reach US$ 31.92 billion by 2034.

At what rate is the demand for high performance fibers set to increase?

Global demand for high performance fibers is projected to rise at a CAGR of 8.7%.

How is the market anticipated to perform in South Korea?

The market in South Korea is forecasted to reach US$ 1.3 billion by 2034-end.

At what rate is the Mexico market forecasted to expand?

Sales of high performance fiber in Mexico are projected to rise at 11.5% CAGR through 2034.

Who are the leading companies providing high performance fiber?

Leading market players are Mitsubishi Corporation, 3B Fiberglass, Toray Industries Inc., and BASF SE.

Which application segment holds a leading market share?

Based on application, the electronics & telecommunication segment is projected to hold 22.8% market share in 2024.

- Also of Interest -

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Carbon Fiber Market

Carbon Fiber Market Study by PAN-, Pitch-, and Rayon-Based for Aerospace & Defense, Sporting Goods, Automotive, Electrical & Electronics, Wind Energy, and Civil Engineering from 2024 to 2034

High Performance Fiber Market

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