Global Specialty Fibers Market Outlook (2014-2022)

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Sep 28, 2015, 04:51 ET

NEW YORK, Sept. 28, 2015 /PRNewswire/ -- The global market for specialty fibers totaled $11.26 billion in 2014 and is estimated to approach $28.25 billion by 2022, registering a compound annual growth of 12.19% through 2022. Specialty fibers market is expected to witness considerable growth on account of increasing demand of light weight and high strength composite materials. High strength to weight ratio of specialty fibers is expected to fuel the market demand over the estimate period. Consumer friendly qualities of the material such as stain resistance, water proofing and stretching are also estimated to drive the specialty fibers market over the forecast period. Excellent mechanical properties, durability and thermal stability than the conventional materials are expected to augment specialty synthetic fibers demand over the forecast period. Various industries such as transportation, marine, aerospace and automotive are also expected drive specialty synthetic fibers demand over the forecast period. Growing need of optical fiber cables and expansion of electronic industry is anticipated to shoot up demand of specialty synthetic fibers. Numerous innovative applications of glass fibers and synthetic fibers such as adding metallic properties in cloth, usage in battery separators and in the process of filtration are also expected to augment the glass fibers and specialty fibers demand over next seven years. Increasing usage of these materials for ballistic equipments manufacturing is expected to augment the market demand as well.

Specialty fibers are segmented into meta aramids, para aramids and Partially Oxidized Polyacrylonitrile Fibers, High-Strength Polyethylene Fibers, Polybenzimidazole (Pbi) Fibers. Glass fiber accounts for maximum share in the global glass fiber and specialty fibers market. Carbon Fiber is expected to witness highest growth rate over the forecast period on account of its high strength to weight ratio. Significant carbon fiber demand from automotive and aerospace industries is expected to drive the global glass fibers and specialty synthetic fibers market over the forecast period.

Key market players operating in the specialty synthetic fibers include NV Bekaert SA, Compagnie De Saint-Gobain SA, 3M Company, Advanced Composite Materials Llc, Aerocell Corporation, Albany International Corp.

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