A recent technical market research report states that BCC Research’s global market for specialty fibers titled ‘Specialty Fibers Technologies and Global Markets’ was evaluated $6.3B in 2011 and is estimated to grow by $10.3 B in 2016 that amounts to 10.1% of five-year compound annual growth rate (CAGR).
THE GLOBAL MARKET FOR SPECIALTY FIBERS, 2007-2016 (THOUSANDS OF POUNDS)
The market for specialty fibers can be classified into four major disciplines including automotive, sporting goods, aviation and aerospace, and other industrial segments.
The automotive segment of the market amounted to € 47.3M in 2011 and has been predicted to reach €63.3Min in 2016 by growing at a CAGR of 6%.
The sporting goods segment was € 16 M in 2011 and anticipates achieving €21.3M in 2016 with a CAGR of 5.9%.
The market’s aviation and aerospace segment was evaluated to be around € 52.8M in 2011 and forecast to achieve nearly € 80.4M in 2016 with a CAGR of 8.8%.
The other industrial segment was large and evaluated to be €321M in 2011and expected to reach € 468.6M by 2016 with a CAGR of 7.9%.
Following global recession and financial crisis, alterations were observed in the specialty fibers industry in the last 10 years. In contrast, its capacity was increased as a result of expansions by existing producers and new entrants in China. The chief components that promote success to this industry include technical servicing new product development, and marketing. Specialty fiber companies implement either special strategy of product differentiation along fiber material for instance boron, or a strategy of focus such as market segmentation on a product-type basis like aircraft brakes.