VANCOUVER, Washington, July 30, 2015 /PRNewswire/ --
The report "High Temperature Fiber Market by Fibers Type (Aramid (Para-aramid, Meta-aramid, others), Ceramic (Refractory Ceramic Fibers, Low Bio-persistent and others), and other fibers (Basalt, and others)), by Application (Security & Protection, Automotive, Aerospace, Industrial, Electrical & Electronics, and others) and by Region - Global Trends and Forecasts to 2020" published by MarketsandMarkets, The global High Temperature Fiber Market is expected to reach at USD 8,308.46 Million in 2020 at a CAGR of 8.74% during the period between 2015 and 2020.
Browse 74 market data Tables and 60 Figures spread through 153 Pages and in-depth TOC on "High Temperature Fiber Market"
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The market report defines and segments the High Temperature Fiber Market with analysis and forecasting of consumption volume and value
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High Temperature Fibers have good tolerance to extreme temperature along with other unique characteristic such as high strength, low weight, and so on. The global High Temperature Fiber Market is expected to reach at USD 8,308.46 Million in 2020 at a CAGR of 8.74% during the period between 2015 and 2020. The high temperature fibers market can be classified into three types, such as aramid, ceramic, and others fibers type. The most widely used high temperature fibers are aramid and ceramic fibers. Increasing demand for high temperature fibers in the industrial application is expected to further drive the market. The high cost of production is resulting in the slow growth of the market and is posing a challenge to key global players such as E. I. du Pont de Nemours and Company (U.S.), Teijin Limited (Japan), and so on.
Asia Pacific is the key market for high temperature fibers
Asia-Pacific and Europe dominated the High Temperature Fiber Market in 2014 and accounted for over 64% of the global market, by volume and value. Country-wise, China is the top market of high temperature fiber globally. North America is the second-largest High Temperature Fiber Market in the world. High temperature fibers have various applications such as security & protection, automotive, aerospace, industrial, and electrical & electronics, and others. The future growth of the global market is heavily dependent on the market in the developing economies, especially in Asia-Pacific and RoW. The mass exodus of production activities (automotive & industrial) from the developed countries to low-cost Asian countries and the consequent increase of foreign investments in the region will drive the high temperature fibers market.
Industrial and security & protection application to drive the high temperature fibers market
Industrial application enjoys the lion share in the high temperature fibers market, accounting for around 49% of the market share by value in 2014. The increasing industrial development around the world is expected to sustain the demand of high temperature fibers in the coming years. The fastest growth rate in the High Temperature Fiber Market is projected to come from the automotive and industrial applications.
Increase in demand from emerging countries
Due to increasing industrial development in developing countries such as India, China, and Brazil, the demand for high temperature fibers is expected to get a boost. Most of the demand for high temperature fibers in these developing countries is expected to come from industrial and security & protection application. Various key players in the global high temperature fibers market are investing in the emerging countries to tap the unexplored market. This helps the market players to maintain a leading position in the global High Temperature Fiber Market.
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