HIGH PERFORMANCE FIBERS MARKET ANALYSIS

High Performance Fibers MarketSize and Trends

Market Outlook

Global high performance fibers market size was valued at US$ 10.72 billion in 2016, and is projected to register a CAGR of 8.89% over the forecast period (2019-2027). Growing use of high performance fibers in the aerospace and defense industry is expected to be the major driving factor during the forecast period. Carbon fibers, ceramic fibers, and aramid fibers find major application in aerospace, in order to augment the engine performance. These high performance fibers lightweight, due to which it augments engine’s fuel efficiency. Furthermore, in the defense sector, high performance fibers are widely used to manufacture armors and jackets. Moreover, they also improve durability of component. Furthermore, increasing the use of high performance in electronics & telecommunication industry is expected to drive growth of the market in the near future. As high performance fibers exhibit chemical & fire resistance, they are majorly used in textile industry for production of technical textiles.