The Latin America, Middle East and Africa High Performance Fibers Market would witness market growth of 12.2% CAGR during the forecast period (2019-2025).
The improved strength-to-weight ratio coupled with the superior rigidity provided by such fibers to components in the aerospace and automotive industries is expected to drive the market. Growth in the use of these products to increase fuel efficiency and aircraft aerodynamics allows manufacturers to replace traditional metal alloys with composite materials in the development of primary and secondary aircraft components. In addition, the integration of these fibers into aerospace components offers excellent versatility and the damage tolerance is expected to drive production.
The stringent regulations implemented by various government bodies to minimize CO2 emissions are also projected to appear as one of the driving factors for the growth of lightweight materials in aerospace and automotive applications. Such regulations require OEMs to seek alternatives to reduce emissions and enhance fuel efficiency. The industry is distinguished by the presence of several raw material suppliers, such as BASF and Dow, providing quality feedstock for the manufacture of such high-performance fibers. Nonetheless, high price volatility for feedstock used in the manufacture of such products is anticipated to restrict production, which, in turn, is anticipated to restrict the growth of the industry.
Based on Product, the market is segmented into Carbon Fiber, Aramid Fiber, Polybenzoxazole (PBO), Polybenzimidazole (PBI), M5/PIPD, Glass Fiber, High Strength Polyethylene and Others. Based on Application, the market is segmented into Aerospace & Defense, Textile, Sporting Goods, Construction & Building, Electronics & Telecommunication, Automotive and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: High Performance Fibers Market in LAMEA is expected to register a CAGR of 12.2% during the forecast period (2019-2025)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Toray Industries, Inc., Teijin Limited, Honeywell International, Inc., Mitsubishi Chemical Holdings Corporation, Koninklijke DSM N.V., Toyobo Co., Ltd., Bally Ribbon Mills, Binani Industries Limited, Sarla Performance Fibers Limited, and Sinopec Limited.
Market Segmentation:
By Product
By Application
By Country
Companies Profiled
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