Global Polybenzimidazole Fiber Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Polybenzimidazole Fiber Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global polybenzimidazole fiber market report has been segmented on the basis of type, application, and region.

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Global Polybenzimidazole Fiber Market: Overview

Polybenzimidazole (PBI) fiber is a synthetic fiber with high chemical and thermal stability. It is widely used to fabricate protective apparels such as astronaut space suits, welder’s apparel, firefighter's gear, high-temperature protective gloves, and aircraft wall fabrics. Polybenzimidazole fiber is prepared by condensation reaction of 3,3’,4,4’-tetraaminodiphenyl and diphenyl isophthalate. It is further processed by polymerization and high temperature dry-spinning process in order to achieve desired mechanical properties and produce PBI staple fiber using conventional cutting and crimping techniques.

Global Polybenzimidazole Fiber Market: Dynamics

Increasing industrialization, coupled with growing automotive and aerospace & defense industries, increasing demand for polybenzimidazole fibers in textile and energy sector are major factors expected to fuel growth of the polybenzimidazole fiber market in years to come. Additionally, increasing government initiatives and investments in various industries such as aerospace & defense is another factor projected to drive revenue growth of the target market. Moreover, increasing demand for polybenzimidazole fibers in industrial and medical sectors owing to its various properties is a factor expected to support growth of the global polybenzimidazole fiber market.

However, high production cost of polybenzimidazole fiber is a factor which may hamper growth of the polybenzimidazole fiber market.

Increasing adoption of PBI fiber as a membrane for ultrafiltration, electrodialysis owing to its properties such as very low gas permeability, rigid structure, and strong hydrogen bonding is a factor expected to create revenue opportunity for manufacturers operating in the target market. Increasing demand for PBI fiber as PBI membrane and in protective apparels is an ongoing trend observed in the target market.

Global Polybenzimidazole Fiber Market: Segment Analysis

Among the type segments, the PBI staple fiber segment is projected to register significant revenue share in the target market, owing to its various properties. Among the application segments, the automotive segment is expected to account for major revenue share in the target market in the next coming years, followed by aerospace & defense segment. Increasing demand for PBI fiber in manufacturing of various parts such as electrical connectors, high heat insulator bushings, valve seats, etc. is a factor driving growth of the target market.

Global Polybenzimidazole Fiber Market: Region Analysis

The PBI fiber market in North America is estimated to account for significant revenue share, and is projected to dominate in the global polybenzimidazole fiber market in the next 10 years. Increasing demand for polybenzimidazole fibers in aerospace & defense, automotive, and medical sectors owing to its various properties is a factor expected to drive growth of the target market in the North America region. The market in Asia Pacific is projected to grow at significant CAGR in the next coming years. This is attributable to rapid industrialization, coupled with increasing textile and automotive industries, and government initiatives and funding in countries such as China and India in the region.

Global Polybenzimidazole Fiber Market Segmentation:

Segmentation on the Basis of Type:

PBI Filament
PBI Staple Fiber

Segmentation on the Basis of Application:

Aerospace & Defense
Automotive
Medical
Energy
Textile
Others (Industrial, Chemical, and Petrochemical)