High Temperature Fiber Market size is forecast to reach $15 billion by 2025, after growing at a CAGR of 9% during 2020-2025. As the name itself suggests high temperature fiber can withstand with extreme temperature and possesses high strength. With increasing demand from optical cable industries for good durability and strength fibers is driving the growth of high temperature fiber market globally. Besides, the growing uses of high temperature fibers from thermal process, oil and gas, and geothermal industries is also driving the growth of this market during the forecast period. Whereas, in oil and gas and geothermal industries these fibers are used for the measurement of real-time down hole temperature and pressure, data transmission, acoustic, seismic and imaging applications. Moreover, rising concerns for the safety and security among people has also augmented the growth of high temperature fiber market.
Type- Segment Analysis
The ceramic fibers segment is projected to grow at a substantial rate with a CAGR of 9% during the forecast period due to growing uses of glass fibers from the automotive and aviation sector. Furthermore, ceramic fibers are mainly employed in high temperature applications instead of metals because of their high thermal tolerance and resistance to corrosion. Ceramic fibers are made from precursor fibers or very thin tungsten core wire that provide them high strength and modulus properties in both tension and compression applications, giving them an edge over other high temperature fibers for wide industrial applications.
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Application – Segment Analysis
Based on the application aerospace and defense segment holds the largest share of more than 30% of high temperature fiber market in 2019. High temperature fibers are used in aerospace industries for manufacturing turbine combustors, compressors, and exhaust nozzles whereas they are used for making ballistic missiles and tanks in the defense sector. The rise in security concerns and the need of people for better transportation has escalated the uses of temperature resistance fibers in the aircraft that further boosting the growth of high temperature fiber market. For instance, according to Boeing, air cargo traffic grew 10.1% in 2017 and is expected to more than double in the next 20 years. Thus, increase in the production of aircraft will fuel the growth of high temperature fiber market industry.
Whereas, the coronavirus pandemic has badly impacted the aerospace industries. Due to the lockdown, industries are being shuttered all around the world. People stuck in their houses resulting in major problems for aviation industries. All flights are suspended, and manufacturers are facing huge losses. According to International Air Transport Association (IATA), airlines can lose in passenger revenues of up to $113Bn globally due to the COVID-19 crisis. Huge losses in airlines have resulted decrease in aircrafts production, substantially hampering the growth of high temperature fiber.
Geography- Segment Analysis
APAC dominated the high temperature fiber market with a share of more than 35%, followed by North America and Europe. Increase in aeronautical activities coupled with rapid industrialization has driven the growth of high temperature fiber market in APAC region. High temperature fiber market has shown significant growth in developing nations like China and India due to the expansion and strengthening of the defense sector. For instance, in 2018, Airbus has estimated that the world total demand for aircraft and freighters is over 37,000 in the next 20 years and China will need 7,400 new aircrafts from 2018 to 2037. Increase in aircrafts demand increases the use of high temperature fibers for making engine components. Additionally, high temperature fibers are also used in optical fiber cables (OFC) and the rapid expansion of the telecommunication sector in emerging economies is accelerating the growth of high temperature fiber market share over the forecast period.
Drivers –High Temperature Fiber Market
Exceptional properties of high temperature fiber
The rise in demand from various end-use industries for their ability to withstand extreme temperature, high abrasion, and solvent resistance is driving the growth of high temperature fiber market. They find applications in heat exchangers, gas turbines, hot gas filters, aircraft’s exhaust and linings of blast furnaces. For instance, according to the International Civil Aviation Organisation (ICAO), the “global air transport network” doubles in size at least once every 15 years, and that is expected to do so again by 2030. This growth in the air transport network propel the growth of this market during the forecast period. Whereas, increase in terrorist attacks and conflicts between nations has also raised the people’s concern for safety, further accelerating the use of high temperature fibers in the defense sector for making ballistic missiles, tanks, and fighting aircraft.
Use of high temperature fiber in optical fiber cables
Optical fibers cables are insulated with high temperature fiber that provides better resistance to extreme temperature in addition to higher strength and durability. Use of optical fiber cables by telecom industries for transmitting information at a faster rate is contributing to the growth of high temperature fiber. Regular developments and introduction of 5G technology have boosted the use of optical cable, which in turn boosts the high temperature fiber market share during the forecast period. According to Global System for Mobile Communication Association (GSMA), 5G will account for as many as 1.2 billion connections globally by 2025 and China alone will have more than 600 million 5G subscribers in 2025.
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Challenges – High Performance Fibers Market
High Manufacturing Cost and non-degradability
Production of high temperature fibers is difficult and requires huge amount of resources which further increases their cost. Due to their high cost, they are only used in high quality products such as aircraft, turbine blades, automotive, and defense equipment’s for better efficiency. Additionally, high temperature fibers are non-degradable, and their disposal affects the environment to the greater extent which in turn inhibits the growth of market. Furthermore, trade war between two largest economies, China and the U.S have greatly impacted the market. The imposition of high taxes has brought many struggles for aircraft manufacturers to compete in the market, further hampering the growth of high temperature fiber market size.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the high temperature fiber market report. Major players in the high temperature fiber market outlook are, E.I. Du Pont De Nemours & Company, Kamenny Vek, Kolon Industries Inc., Morgan Thermal Ceramic, Royal Tencate N.V., Teijin Limited, Toray Industries Inc., Toyobo Co., Ltd, Unifrax Corporation, Yantai Tayho Advanced Materials Co., Ltd., among others.
In September 2019, Evonik has launched a polyimide fiber, P84HT. It has excellent thermal resistance properties and is used for high temperature filtration and as sealing material for space vehicles.
In February 2019, Teijin has acquired Renegade Materials Corporation and expanded carbon fiber intermediate material business for aerospace applications.
In April 2018, Teijin expanded its carbon fiber operations in China and Taiwan with the establishment of Teijin Carbon Shanghai Co., Ltd. in Shanghai, China and Teijin Carbon Taiwan Inc. in Taipei, Taiwan.
The U.S has shown significant growth in high temperature fiber market due to its rapid expansion in aerospace and defense industries.
The outbreak of COVID-19 and trade war between China and the U.S has greatly affected the market growth.
Growing demand in security and protection application and increasing uses as a potential substitute product for steel and asbestos across various end-use industry is driving the market growth.
Degradability of high temperature fibers is a major concern and acts as a restraint for the growth of market.
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B. High Temperature Grease Market
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