According to latest study by Future Market Insights (FMI), the demand for polyimide fibers will increase at 4.9% CAGR between 2021 and 2031.
Increasing use of polyimide fibers in filter media, protective clothing, and insulation materials will drive sales in the market. Owing to its excellent heat resistance and flame retardant capacity, polyimide fibers application is expected to increase across diverse industries.
Polyimide fibers are extensively used in manufacturing of protective clothing such as outer shell of suits in the army, jackets of fire fighters, and industrial protective gears. Considering this, FMI has identified application in protective clothing to account for maximum sales in the market through the forecast period.
However, limited availability of the product and complexity in manufacturing process owing to concentration of technology know how with few players is restraining the growth opportunities.+
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Key Takeaways from Polyimide Fibers Market Study
- Global polyimide fibers market is expected to reach a valuation of US$ 486.6 Mn by the end of the forecast period, 2031.
- Protective clothing will remain the dominant segment in terms of applications in the polyimide fiber market.
- The U.S. will account for maximum polyimide fiber sales in North America.
- The extraordinary growth in chemical industry of Asia Pacific is augmenting the sales of polyimide in the region.
- China will emerge as one of the leading exporters of polyimide fibers. The China market is forecast to exhibit growth at 6.7% CAGR through the forecast period
“Various governmental regulations imposed over emission control from vehicles, factories, and other sources are expected to increase the demand for materials used for filtration products such as polyimide fibers over the forecast period,” said an analyst at FMI.
Polyimide Fibers Market: Participant Insights
According to the Market Research analysis, Evonik Industries AG, Jiangsu Shino New Materials Technology Co., Ltd, Jiangsu Aoshen Hi Material Co. Ltd, Changchun Hipolyking Co., Ltd. and Ningbo Yide Fine Chemical Co., Ltd are identified as key players in the Polyimide Fibers market.
Among these companies Jiangsu Aoshen Hi Material Co., Ningbo Yide fine Chemical Co., Ltd, Evonik Industries AG, Changchun Hipolyking Co., Ltd., and Jiangsu Shino New Materials Technology Co., Ltd have emerged dominant. They are expected to account for maximum sales of polyimide through 2031.
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Future Market Insights has published a market research report on the Polyimide Fibers market that contains global analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides insightful analysis of the Polyimide Fibers market through three different segments-by Application, by End Use and by Region.
About Chemicals & Materials division of FMI
The Chemicals & Materials division at FMI offers distinct and pin-point analysis about the chemicals & materials industry. Coverage of the chemicals and materials market extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.