In 2023, the polyimide fibers market is poised for significant growth, with projected revenues surpassing US$ 517.5 million. Anticipated to exhibit a robust compound annual growth rate (CAGR) of 5.4% from 2023 to 2033, the market is set to witness substantial expansion. This growth can be attributed to the increasing demand for polyimide fibers across various industries, driven by their exceptional heat resistance, mechanical strength, and chemical stability. As technological advancements continue to enhance the application scope of polyimide fibers, their prominence in sectors such as aerospace, electronics, and automotive is expected to fuel sustained market development over the next decade.
Polyimide fibers are increasingly used in the manufacture of protective apparel due to their outstanding flame-retardant potential. Polyimide fibers are now widely utilized in the production of protective equipment, such as the outer shell of army uniforms, firefighters’ jackets, industrial protective gear, and others.
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The increase in the number of space research activities and space launches throughout the world has continually boosted polyimide fiber sales. Growth in the number of space launches necessitates the production of tones of materials and components for rockets and space shuttles.
According to NASA, ISRO, and other space research organizations, several space launches are expected to increase significantly during the forecast period, creating a huge demand for portable, superior materials that can withstand high temperatures. Moreover, polyimide fibers are employed for multilayer insulations of space shuttles and astronaut space suits due to their outstanding heat resistance property, which is projected to drive demand throughout the forecast period.
The existence of numerous space organizations such as NASA, as well as their substantial plans to launch various space shuttles, are projected to drive demand for polyimide fibers. As a result, the market value in the United States is estimated to rise during the projection period.
Key Takeaways
- In the last five years, the market has expanded at a CAGR of 3.5%.
- In 2023, the United States polyimide fibers market is predicted to rise 4.5% year on year, with Germany accounting for about 30% of the income earned by polyimide fiber sales in Europe.
- Filter media is the large user of polyimide fibers by application, accounting for 60% of total polyimide fiber output globally.
- The power & utilities segment is expected to be worth US$ 250 million by the end of the forecast period.
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Competitive Landscape
The key players have focused on increasing their manufacturing units in their respective regions. Innovation, cooperation with important actors, partnerships, strategic alliances, and the strengthening of regional and worldwide distribution networks are examples of strategies. Among the significant developments are:
- In May 2023, Solvay, a global market leader in specialized materials, introduced KetaSpire® KT-857, a revolutionary polyetheretherketone (PEEK) extrusion substance designed exclusively for copper magnet wiring insulation in electric motors.
- In April 2022, Kolon Industries, a chemical company in South Korea, partnered with SKC to supply polyimide sheets to Taiwan’s Asus for its folding notebook, Zenbook 17-Fold OLED. In exchange for support in the development of Asus’s device, the companies agreed to supply PI to the Chinese display panel manufacturer BOE.
Key Companies Profiled
- Jiangsu Shino New Materials Technology Co., Ltd.
- Jiangsu Aoshen Hi Material Co.
- Changchun Hipolyking Co., Ltd.
- Ningbo Yide Fine Chemical Co., Ltd.
- Lirsot Ltd.
- Swicofil
- Shandong Xingye Environmental Technology Corp.
- Jiangsu Jinqiao Salt International Trade Co. Ltd.
- Baoding Sanyuan Textile Technology Co. Ltd.
- Shanghai Easun Group Imp & Exp Co., Ltd.
- Xiamen Meidasi Environmental Protection Industry Co. Ltd.
- Evonik Industries AG
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Polyimide Fibers Market Segmentation by Category
By Application:
- Filter Media
- Protective Clothing
- Insulation Material
- Others
By End Use:
- Construction
- Power & Utilities
- Chemical & Processing
- Mining
- Others
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and the Pacific
- East Asia
- The Middle East and Africa
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