Polyimide Fibers Market Will Reach US$ 433.6 Mn by 2026
Persistence Market Research has published a new research report on polyimide fibers. The report has been titled, “Polyimide Fibers Market: Global Industry Trend Analysis 2013-2017 and Forecast 2018-2026.” The global polyimide fibers market is expected to witness moderate growth prospects over the years ahead.
The complex manufacturing procedure and premium prices for these fibers have resulted in their restricted use for highly specific conditions. According to the report, the global polyimide fibers market is expected to witness a CAGR of 5.0% from 2018 to 2026.
In 2017, the market was worth US$ 279.2 Mn and is expected to touch a valuation of US$ 433.6 Mn by the end of 2026.
The presence of a limited number of players has made this market a consolidated one. The companies are continuously focusing on the development of new and cost-effective ways of production in order to cater to the growing needs of the consumers and the vertical industries.
The companies are also expanding their production capacities.
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The companies operating in the market are Jiangsu Shino New Materials Technology Co., Ltd, Jiangsu Aoshen Hi Material Co. Ltd, Ningbo Yide Fine Chemical Co., Ltd., and Evonik Industries AG.
The main six companies have a per annum consolidated capacity of 7000 tons.
Use of Polyimide Fibers for Protective Clothing to Boost Market Growth
Filter media by far holds the core application area for polyimide fibers. However, over in the recent past, there has been a rise in the use of polyimide fibers in the garment industry for the manufacturing of protective clothing in order to make the outer shell of suits and jackets for fire fighters, army, and industry.
Polyimide fibers are characterized by excellent flame retardant properties and good chemical resistance. Additionally, the fiber has good mechanical strength and are thus durable for being used in clothing.
Moreover, these fibers are also used in the spacecraft for sealing and thermal insulation.
The growing number of space launches requires a large number of space vehicle fleet. Space research organizations such as NASA and ISRO to name a few are continuously sending their space shuttles into space.
With this rise in the launch of activities across the globe, the demand for light weight and high performance material is also surging which can withstand exceptionally high temperature.
All the space shuttle manufacturers are using polyimide fiber as a potential material for multilayer insulations. The external layer of the space craft is generally PI coated with a minute layer of aluminum along with it.
Moreover, these fibers are used in the spacesuits of astronauts as well, thus supplementing the market growth.
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Premium Pricing and a Handful of Players to Threaten Future Market Prospects
Owing to the exceptional properties it inherits, polyimide fibers are primarily used in the manufacturing of dust filters. Furthermore, with growing sophistication in industrial infrastructure, the demand for filter is also increasing.
Owing to the availability of limited vendors in the marketplace and the complex manufacturing procedure, these fibers are only used in areas with specific demands and low emissions.
There are only a few market players, which limited production capacity. Sudden disruption in the throughput or in the production output from these players disturbs the whole value chain of polyimide fiber market.
Expensive pricing is another key concern estimated to hamper market growth.
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