Increase in use of high performance fibers for numerous aerospace, electronics & communication, and defense applications due to their exceptional strength, stiffness and heat resistance properties drive the growth of the global high performance fibers market.
PORTLAND, Ore., Aug. 30, 2022 /PRNewswire/ — Allied Market Research published a report, titled, ‘High Performance Fibers Market by Product (Carbon fiber, Aramid, Polybenzimidazole, Others), by Application (Aerospace and defense, Automotive, Sporting goods, Others), by End user (Personal, Public, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031.’ According to the report, the global high performance fibers industry generated $11.3 billion in 2021, and is estimated to reach $23.2 billion by 2031, witnessing a CAGR of 7.4% from 2022 to 2031. The report offers a detailed analysis of the changing market trends, top segments, key investment pockets, value chain, regional landscape and competitive scenario.
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Drivers and Opportunities
Increase in use of high performance fibers for numerous aerospace, electronics & communication, and defense applications due to their exceptional strength, stiffness and heat resistance properties drive the growth of the global high performance fibers market. However, high production costs and non-biodegradable nature of high performance fibers hamper the market growth. On the other hand,…
