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.
According to latest study by Future Market Insights (FMI), the demand for polyimide fibers will increase at 4.9% CAGR between 2021 and 2031.
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.
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
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Key Drivers
- Increasing number of space research activities and space launches by organizations such as the National Aeronautics and Space Administration (NASA) is propelling the demand for polyimide fibers.
- Surging demand for filter bags made of polyimide fibers for separation of flue gasses such as carbon monoxide, sulfur oxides, and nitrogen oxides in various municipal solid waste incineration is spurring the sales of polyimide fibers across the filter media segment.
Key Restraints
- High cost and complex manufacturing process of polyimide fibers are the factors posing challenge to the market.
- Availability of low-cost substitutes such as synthetic fiber composites, polyamide, and durethan among others is hampering the sales of polyimide fibers
Competitive Landscape
As per FMI, top market players in the global market are 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 are. These leading companies are estimated to account for nearly 60% of sales through 2021.
Key players are emphasizing to launching innovative products to expand their market share. Some of the manufacturers are focusing on adopting strategies such as partnerships, strategic alliances, collaboration, and acquisition to strengthen their regional and global distribution networks. For instance,
- In August 2017, Honeywell resins and chemicals announced expanding its Nylon polymer production capacity at its Chesterfield facility to address the demand for high-grade for packaging, and other applications. The expansion strategy will assist the company to increasing in production capacity by 40,000 metric tons per year for its PA6 and PA66 products.
- Jiangsu Aoshen Hi-tech material Co., Ltd., a leading exporter and supplier of polyimide fiber, announced developed a new type bladder fabric made using Suplon. The new product launch will assist the company to expand its product portfolio and market revenue share. Besides this, the hi-tech fabric is been used as forest protection clothing bladder by China Police.
Some of the key players operating in the market profiled by FMI are:
- 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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More Valuable Insights on Polyimide Fibers Market
FMI, in its new report, offers an unbiased analysis of the global polyimide fibers market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in polyimide fibers market with detailed segmentation:
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 & Middle East & Africa (LAMEA)
- Europe
- Southeast Asia and Other APEJ
- China
- Japan
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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