Specialty Fibers Market is Expected to Grow at a CAGR of 6.62% through 2030

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Specialty Fibers Market is Expected to Grow at a
CAGR of 6.62 through 2030
According to ChemAnalyst report, Specialty
Fibers Market Analysis Plant Capacity,
Production, Operating Efficiency, Technology,
Demand Supply, End- User Industries,
Distribution Channel, Regional Demand,
2015-2030. Specialty Fibers market witnessed a
strong demand in the past five years and is
projected to achieve a CAGR of 6.62 in the next
ten years. Growth in the market can be
attributed to increasing demand for fibers
exhibiting properties like lightweight,
toughness, high strength and tenacity, superior
insulation, thermal, corrosion, flame and high
chemical resistance. Fibers with above mentioned
characteristics are witnessing increased demand
across various end-user industries, such as
Aerospace, Automotive, Defence, Sports
Equipments, Construction, Textile, and Others,
which is driving the global specialty fibers
market through 2030. Read Full Report Here
https//www.chemanalyst.com/industry-
report/specialty-fibers-market-320 Specialty
Fibers are high-performance fibers that are
highly desirable in global aerospace industry
from manufacturing aircraft cabin floors,
overhead bins, walls, ceilings, and bulkheads to
landing gear doors, leading and trailing edges on
wings and helicopter rotor blades. Similarly,
these fibers are used in making military soft
body armors that offer protection against combat
hazards such as ballistic shells and explosive
fragmentation. Since, these fibers are light
weight and comfortable enough therefore, help
to improve mobility and reduce fatigue for
soldiers in the field. Additionally, increased
investments in automotive to improve automotive
filters, belts, gaskets and other automotive
components and increasing investment
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in defence space application are the key
factors driving the growth of the Specialty
Fibers market in the forecast period. Based on
type, Specialty Fibers are segmented into
Spandex, Carbon Fiber, Aramid Fiber,
High-strength Polyethylene, Others. An
exponential rise in the consumption of Specialty
Fibers in textile industry for manufacturing of
various fiber products following shifting
consumer preferences and fashion trends such as
waterproof, stretchability, stain resistant and
other parameters are likely to boost the demand
for Specialty Fibers market in the forthcoming
years. Insufficient supply, and availability of
natural fibers such as cotton also drive the
demand for Specialty Fibers globally. In textile
industry, Spandex fiber holds a significant share
among other Specialty Fibers fueled by the
surging demand for sportswear, swimwear, ski
pants golf jackets, and athleisure clothing for
other athletic activities like aerobics etc. Due
to its extended application, spandex fiber is
projected to continue dominance until 2030. Read
Free Request Sample Online https//www.chemanaly
st.com/ChemAnalyst/RequestForm In 2020, the
sudden outbreak of COVID-19 pandemic across the
globe, declined the growth rate of Specialty
Fiber total global demand, owing to the numerous
restrictions imposed by the government of global
economies to prevent spread of the
life-threatening virus that resulted into raw
material scarcity because of lockdowns and trade
restrictions. A huge slump in overall Specialty
Fiber market across the globe was witnessed amid
covid however, a rise in the demand for
Specialty Fibers has been witnessed since
relaxation in the lockdown and upliftment of
restrictions which can be ascribed to high demand
from various end use industries. Since Specialty
Fibers are derivatives of crude oil and hence
their prices are directly linked to the
fluctuations in crude oil prices internationally.
Volatility in the prices of crude oil is a major
challenge for Specialty Fibers manufacturers.
Moreover, surging Specialty fibers demand from
the aerospace and automotive sectors is expected
to propel the global specialty synthetic fibers
market over the forecast period. Region wise,
Europe and North America holds the major share of
the market for Specialty Fibers owing to the
huge investment on Aviation sector in the region
along with the shifting focus towards defense
sector for making body armors as well as vehicle
armors. Moreover, it is perceived to witness a
significant growth in the Asia Pacific region
owing to the growing automotive, defense, textile
and
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construction sectors in the upcoming years. South
America and MEA are expected to witness lower
market growth over the forecast period. According
to ChemAnalyst report, Specialty Fibers Market
Analysis Plant Capacity, Production, Operating
Efficiency, Technology, Demand Supply, End-
User Industries, Distribution Channel, Regional
Demand, 2015-2030, Some of the major players
operating in Global Specialty Fibers market
include DowDuPont, Teijin Limited, Jushi Group,
Honeywell International Inc, Royal DSM, Toray
Industries Inc., Formosa Plastics Corp, Sinopec
Yizheng Chemical Fibre, Bluestar Fibres, Teijin
Limited, Guangdong Charming and others. Being
directly linked to Automotive, Aerospace and
Textile, global Specialty Fibers market has
shown a robust growth alongside urbanization,
rise in per capita income and changing customers
preferences. A significant growth is witnessed in
the demand for carbon fibers that are the
Specialty Fibers used in Aerospace and Aircraft
as an alternative to steel. Moreover, rapid
industrialization and construction activities
further augment the consumption of Specialty
Fiber where they are used as an adhesive in
concrete and paints ensuring proper sticking of
the respective materials. With the increasing
popularity of Specialty Fibers as one of the
most desirable commodities, new competitors
emerging across the Asian Specialty Fibers
market, players anticipate that there will be
sufficient supply demand gaps in future. At
this, it is extremely important to keep an eye
which region will grab the biggest market share
in the upcoming years. said Mr. Karan Chechi,
Research Director with TechSci Research, a
research based global management consulting firm
promoting ChemAnalyst. About Us ChemAnalyst is a
one stop digital platform that offers
comprehensive market intelligence data and
in-depth analysis of the Indian chemical and
petrochemical industry. ChemAnalysts team of
100 analysts are engaged in tracking chemical
prices daily, production capacity, demand and
supply outlook, manufacturing plant locations,
foreign trade data and news/deals for more than
400 major chemicals produced in India.
ChemAnalyst is promoted by TechSci Research which
is an award winning research based management
consulting firm providing market research and
advisory solutions to the customers worldwide,
spanning a range of industries including
Chemicals Material, Automotive, Consumer
Retail, ICT, Energy Power, Aerospace
Defense, Water and Waste Management, BFSI and
more.
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