From GlobeNewswire: 2024-11-12 08:28:00

The high-performance fibers market is booming, with a value of USD 13.42 billion in 2023 set to reach USD 26.53 billion by 2032, growing at a CAGR of 7.90%. The demand is driven by sectors like defense, aerospace, and automotive, highlighting the importance of these fibers for safety and performance.

Carbon fibers lead the market at over 21% of global revenue, crucial for aerospace, automotive, and sports equipment. Polybenzimidazole (PBI) fibers are projected to grow rapidly due to their thermal stability and flame resistance, essential in firefighting gear and military uniforms.

The aerospace and defense sector dominated the market in 2023, with a 42.34% revenue share. Carbon and aramid fibers play a key role in manufacturing aircraft parts, improving fuel efficiency and range. The automotive sector is expected to see strong growth as automakers focus on lightweighting for fuel efficiency.

Asia Pacific leads the high-performance fibers market, capturing over 44% of global revenue in 2023. The region is expected to experience the highest CAGR from 2024 to 2032 due to rapid industrialization and the increasing use of lightweight materials in key sectors like automotive and aerospace. In July 2024, China launched the world’s first passenger train made entirely of carbon fiber, a major advancement in high-speed rail technology, solidifying its industry leadership. This innovation earned the company an ISE Innovators Award. Technical Fibre Products (TFP) announced a breakthrough in battery technology with high-performance carbon fiber nonwovens.

The High Performance Fibers Market report provides in-depth analysis, research methodology, and statistical insights from 2020-2023. It includes demand & supply metrics, innovation & technology metrics, manufacturing facilities, and supply chain metrics by region. The report also covers market segmentation, competitive landscape, regional analysis, company profiles, and use cases for high-performance fibers.

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