Governments in emerging countries are strengthening their guidance to the polyimide industry by increasing emphasis on the sector and extending investments in R&D polyimide fibers. Increasing promotion of research and development of polyimide fiber will reportedly fuel the growth of polyimide fibers market on a global level. The recent past has been seeing improved production process for polyimide fibers, which is another factor foreseen to be supporting market growth in near future.
The global market for polyimide fibers is likely to experience moderate growth between 2018 and 2026. According to a recent study conducted by Persistence Market Research, the global polyimide fibers market will thrive at a CAGR of 5.0% over 2018-2026. In 2017, the market was worth US$ 279.2 Mn and is expected to touch a valuation of US$ 433.6 Mn by the end of 2026.
Power and Utilities to Emerge As Lucrative End-users of Polyimide Fibers
Surging government initiatives for efficient disposal of waste and protecting the environment from polluting and unsustainable practices such as landfilling have led to significant growth in the waste to energy generation industries. According to the World Energy Council, the global waste to energy market was valued at US$25.32 billion in 2013. Waste to energy technologies based on thermal energy conversion is at present one of the leading industries under the power and utilities industry utilizing polyimide fibers. There has been an increase in consumption of polyimide fibers by manufactures of filter bags, which are used in separation of flue gases in the municipal solid waste incinerators. The advantage of using bags made from polyimide fibers is that it provides high thermal stability and resistivity to chemicals. Moreover, the multilobal cross sectional area in these fibers also provides higher specific area for filtration, thus accounting for significant growth.
Advanced features of polyimide fibers also make it a suitable material for being used in the power and utilities sector. Chemical decomposition of fiber starts at 450 degree Celsius, thus ensuring its deployment across high temperature exposed environment. As a result of the high thermal stability, these fibers are progressively being used in manufacturing of filter bags for the filtration of flue gases in municipal waste incinerators, cement plants, steel plants, and coal fired boilers. Moreover, polyimide fibers also provide good chemical stability to solvents such as hydrocarbons, ketones, alcohols amongst others. These fibers also offer high resistance to fat, fuels, and oil.
Chemical Industry to Register Significant Consumption of Polyimide Fibers with Altering Needs
With gushing demand arising from numerous end users, the chemical industry plant owners are increasing their throughput in order to fulfill the demand of their consumers. In order to increase the productivity of plants, major plant owners implementing new process and technological infrastructure. These newly designed process implements the series of chemical processes and mechanism that performs in high pressure and high temperature atmosphere. Conventional filter material used in the chemical industry degrades very fast and shows very less efficacy in these type of HTHP environment. In order to increase the life of filter and reduce operating cost, leading chemical plant owners are using the filter that are made of high performance synthetic fibers such as PI fiber. With a surging number of chemical plants in the globe, the demand for polyimide fiber-based products is also projected to increase over the next few years.
Persistence Market Research (PMR) analyzes the global polyimide fibers market in a new publication titled “Polyimide Fibers Market: Global Industry Analysis, 2013-2017 and Forecast, 2018–2026”. This study provides historical data for 2013-2017 along with the forecast for the period (2018-2026). The main objective of the report is to identify dynamics in the market and provide recent updates and insights affecting various segments of the global polyimide fibers market. To provide better understanding of the market, the report also includes the analysis of drivers, restraints, trends on all six regions/countries, namely, North America, Europe, Latin America and Middle East & Africa (LAMEA), South East Asia (SEA) and other APAC, China, Japan which influence the current market scenario and future status of the global polyimide fibers market over the forecast period.
To understand and assess market opportunities and trends, the global polyimide fibers market report is categorically split into different sections based on market segmentation – by application, by end use, and by region. The report starts with the market overview and provides market definition and taxonomy along with value chain, pricing analysis region wise, drivers, restraints, and trends in the market. The sections that follow highlights the global polyimide fibers market overview by the respective segments i.e. application, end use and region. The middle section of the report includes regional polyimide fibers market analysis – by application, end-use, and regional/country level analysis. All the above sections evaluate the market on the basis of various factors affecting the market. Each section discusses the qualitative and quantitative aspects of the regional polyimide fibers market. To give a brief idea about revenue opportunities from application, end-use and region/country-wise segments, the report also provides volume (Tons) data, absolute $ opportunity, and total incremental opportunity for each segment over the forecast period (2018-2026).
Under the last section of the report, we have provided the global polyimide fibers market structure and a detailed competition landscape with company market share and performance, to provide report audiences with a dashboard view of key players operating in the global polyimide fibers market along with their business strategies. This would enable clients to assess strategies deployed by market leaders and help them develop effective strategies accordingly.
For market data analysis, we have considered 2017 as the base year, with market numbers estimated for 2018 and forecast made for 2019–2026. We have also studied the historical trend of the market for the year 2013-2017 in order to have a better understanding of the market. To calculate the market size, the report considers the weighted average price of polyimide fibers across key geographies on a regional basis. The forecast assesses the total revenue (US$ Mn) as well as volume (Tons) of the global polyimide fibers market. To deduce market volume size, consumption of polyimide fibers has been considered. In order to provide an accurate forecast, we have started by sizing up the current market, which forms the basis of how the global polyimide fibers market is expected to develop in the future. The critical market data, including the base number and segment splits, has been devised through in-depth secondary research. This data is then triangulated on the basis of different verticals, considering both supply side and demand side drivers and other dynamics of the various regional markets, along with primary interviews of manufacturers and industry experts operating in the global polyimide fibers market. The forecast presented in the report evaluates the actual consumption of polyimide fibers and expected consumption in the global polyimide fibers market over the forecast period.
We have also analyzed the different segments of the global polyimide fibers market in terms of basis point share (BPS) to understand individual segments’ relative contribution to market growth. This detailed level of information is important for identifying the various key trends governing the global polyimide fibers market. The report also analyses the global polyimide fibers market based on the absolute dollar opportunity. This usually overlooked while estimating the market forecast. However, from a sales perspective, it is essential to identify absolute dollar opportunity is essential to identify potential resources in the polyimide fibers market.
PMR has developed a market attractiveness index to understand the key segments in terms of their performance and growth in the global polyimide fibers market. This market attractiveness index would help clients to identify real market opportunities in the global polyimide fibers market.
The global polyimide fiber is a niche market with a few number of manufacturers on the global level. Evonik Fibers GmbH is one of the prominent manufacturer along with some China based and local players. China leads the global polyimide fibers market both in terms of supply and demand throughout the forecast period.
Polyimide fibers are characterized by their high thermal and chemical stability as compared to the conventionally used fibers, hence they are deployed at high temperature exposed environment. These fibers are extensively being used for the manufacture of dust bags for the filtration of flue gases. Polyimide fibers are increasingly being used at waste incinerators, cement industries, steel and metallurgical processing industries and coal-fired boilers. Polyimide fibers have unique cross sectional area which provides higher specific area for filtration and has significantly improved the filtration efficiency.