Scienza e Tecnologia
Polyimide Fibers Market to Top US$ 302.2 Mn in 2021 amid Soaring Demand for Protective Clothing: Future Market Insights
Historically, the market grew at a CAGR of 1.8% from 2016 to 2031. Increasing adoption of polyimide fibers in automotive vehicles and aircrafts owing to their lightweight, durability, and heat resistance is favoring the market growth. Polyimide fibers are extensively used in manufacturing multilayer insulations of space shuttles and rockets. On account of these factors, the market is expected to expand at a 4.9% CAGR over the forecast period 2021-2031.
High-performance materials with excellent flame retardant properties such as polyimide fibers are also gaining traction in the production of protective clothing such as army suits, astronaut spacesuits, firefighter's jackets, and industrial protective gears. Thus, increasing investment in the military and defense sector intended to offer greater safety to armed forces in countries such as China, India , the U.S., and others are expected to create growth opportunities for the market.
Among application verticals, protective clothing is estimated to emerge as one of the highly remunerative segments, exhibiting sales growth at 3.6% in 2021, as per FMI.
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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,
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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:
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai , and has delivery centers in the UK, U.S. and India . FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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