High Performance Fiber Market by Type, Application, Region - Global Forecast to 2021
NEW YORK, March 6, 2017 /PRNewswire/ -- "The high performance performance fiber market is projected to reach USD 16.46 billion by 2021."
The high performance fiber market is projected to grow from USD 10.73 billion in 2016 to USD 16.46 billion by 2021, at a CAGR of 8.9% between 2016 and 2021. Factors such as emerging demand for lightweight vehicles across the globe, rising concerns over the emission of greenhouse gases, and increasing penetration of high performance fibers in different new applications are the key factors expected to contribute towards increased demand for high performance fibers. However, the high cost of production of carbon fibers limits their use to premium products. This acts as a major restraint for the growth of the high performance fiber market.
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"The automotive application segment of the high performance fiber market is projected to grow at the highest CAGR from 2016 to 2021."
Among applications, the automotive segment of the high performance fiber market is projected to grow at the highest CAGR during the forecast period, 2016 to 2021. The growth of the automotive application segment can also be attributed to increased use of high performance fibers in the automotive sector to ensure fuel efficiency of automobiles by using high performing, lightweight materials in their manufacturing.
"Among types, the glass fiber segment is expected to lead the high performance fiber market during the forecast period, 2016 to 2021."
Based on type, the high performance fiber market has been segmented into include aramid, glass fiber, carbon fiber, ceramics, high-strength PE fiber, polybenzimidazole, and polyphenylene sulfide, among others. The glass fiber segment is estimated to be the largest segment of the high performance fiber market during the forecast period, 2016 to 2021 as these fibers are stronger and lighter than traditional materials, such as aluminum and wood. Demand for glass fibers is increasing across varied industries, owing to strong heat resistance, good insulation, and high corrosion resistance offered by them.
"The Asia-Pacific high performance fiber market is projected to grow at the highest CAGR during the forecast period."
The Asia-Pacific high performance fiber market is projected to grow at the highest CAGR between 2016 and 2021. The region is a major consumer of high performance fibers, which are used in varied applications, such as electronics & telecommunication, textiles, aerospace & defense, construction & building, automotive, and sporting goods, among others. Demand for high performance fibers is increasing in various countries, such as Japan, China, India, and Indonesia, among others of the Asia-Pacific region. In order to meet this growing demand for high performance fibers, top fiber manufacturers from the U.S. and Europe are now focusing on the Asia-Pacific region to expand their businesses.
Breakdown of profile of primary participants:
- By Company Type: Tier 1 – 10%, Tier 2 – 40%, and Tier 3 – 50%
- By Designation: C Level – 45%, Director Level – 23%, and Others – 32%
- By Region: Europe – 21%, North America – 16%, Asia-Pacific – 53%, and the Middle East & Africa –10%
The key companies profiled in this report include Teijin Ltd. (Japan), E. I. du Pont Nemours and Company (U.S.), Yantai Tayho Advanced Materials Co., Ltd. (China), Cytec Industries Inc. (U.S.), Mitsubishi Rayon Co., Ltd. (Japan), Owens Corning (U.S.), PBI Performance Products, Inc. (U.S.), Koninklijke Ten Cate NV (Netherlands), Kureha Corporation (Japan), and Toray Industries, Inc. (Japan), among others.
Research Coverage
This report offers an overview of the market trends, drivers, and challenges with respect to the high performance fiber market. It also provides a detailed overview of the market across five regions, namely, Asia-Pacific, Europe, North America, the Middle East & Africa, and South America. The report categorizes the high performance fiber market on the basis of type, application, and region. A detailed analysis of leading players, along with key growth strategies adopted by them, is also covered in the report.
Reasons to Buy the Report
This report covers following key aspects:
- What will be the size of the high performance fiber market by 2021 and what will be the growth rate of the market during the forecast period, 2016 to 2021?
- What are key market trends?
- What are factors expected to drive the growth of the high performance fiber market during the forecast period?
- What are challenges that impact the growth of the high performance fiber market during the forecast period?
- Who are the key players in the high performance fiber market?
- The report covers not only key regions, such as North America, Europe, and Asia-Pacific, but also major countries in these regions, such as the U.S., China, India, Russia, and Germany.
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