Polyimide fibers due to its excellent heat resistance property is used for multilayer insulations of space shuttles, and astronaut space suits which is expected to elevate the demand during the forecast period.
According to latest study by Future Market Insights (FMI), the demand for polyimide fibers will increase at 4.9% CAGR between 2021 and 2031.
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.
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.
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Key Takeaways from Polyimide Fibers Market Study
“Various governmental regulations imposed over emission control from vehicles, factories, and other sources are expected to increase the demand for materials used for filtration products such as polyimide fibers over the forecast period,” said an analyst at FMI.
Polyimide Fibers Market: Participant Insights
According to the Market Research analysis, Evonik Industries AG, Jiangsu Shino New Materials Technology Co., Ltd, Jiangsu Aoshen Hi Material Co. Ltd, Changchun Hipolyking Co., Ltd. and Ningbo Yide Fine Chemical Co., Ltd are identified as key players in the Polyimide Fibers market.
Among these companies 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 have emerged dominant. They are expected to account for maximum sales of polyimide through 2031.
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Polyimide Fibers Market by Category
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Future Market Insights has published a market research report on the Polyimide Fibers market that contains global analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides insightful analysis of the Polyimide Fibers market through three different segments-by Application, by End Use and by Region.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient 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.
May 21, 2023