Global High Performance Fiber Market to Exceed USD 16.4 Bn by 2021, Projects M&M in Its New Research Report Now Available at MarketPublishers.com17 Mar 2017 • by Natalie Aster
LONDON – Spurred mainly by such growth driving factors as surging demand for lightweight vehicles, expanding concerns about greenhouse gases footprints and wide acceptance of high performance fibers in numerous emerging applications, the global market for high performance fiber is expected to demonstrate robust growth in the next 5 years and is likely to surpass USD 16.4 billion. The market is likely to post a CAGR of almost 9% through 2021. As of 2016, the market stood at 10.73 billion. Yet, the market growth could be significantly hampered by high production costs of carbon fibers.
Based on applications, the automotive segment is expected to keep on gaining traction at the fastest pace, due to rising usage of high performance fibers in the production of lightweight materials. In the meantime, the glass fiber segment is anticipated to dominate the overall market through 2021 on the basis of fiber types.
Region-wise, the APAC high performance fiber market is set to dominate the global market, rising at the highest CAGR during 2017-2021. Japan, China, India and Indonesia are amongst the key consumers of high performance fibers in the region.
Topical research report “High Performance Fiber Market by Type, Application, Region - Global Forecast to 2021” prepared by MarketsandMarkets (M&M) offers a reader a detailed overview of the marketplace, highlights the market current and emerging trends, examines the market dynamics, sheds light on growth drivers and limiters, looks at historical and present market performance. The report draws a detailed picture of the market scenario across five major regions (APAC, Europe, North America, South America, the Middle East and Africa), and contains the market segmentation analysis on the basis of the product types and applications. The review of top market participants and their key growth strategies is available. Granular future forecasts for the possible market development up till 2021 are at hand in this insightful research study.
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