FOR IMMEDIATE RELEASE
January 27, 2012
GLOBAL MARKET FOR SPECIALTY FIBERS TO EXCEED $10.2 BILLION IN 2016
Wellesley, Mass. – According to a new technical market research report, SPECIALTY FIBERS: TECHNOLOGIES AND GLOBAL MARKETS (AVM060B) from BCC Research (www.bccresearch.com), the global market for specialty fibers was valued at $6.3 billion in 2011 and is expected to increase to nearly $10.3 billion in 2016, a five-year compound annual growth rate (CAGR) of 10.1%.
The market for specialty fibers can be broken down into four segments: aviation/aerospace, automotive, sporting goods, and other industrial.
The aviation/aerospace segment of the market totaled a volume of nearly 52.8 million pounds in 2011 and is expected to increase at a CAGR of 8.8% to reach nearly 80.4 million pounds in 2016.
The automotive segment of the market, which totaled nearly 47.3 million pounds in 2011, is expected to increase at a CAGR of 6% to reach 63.3 million pounds in 2016.
The segment made up of sporting goods totaled nearly 16 million pounds in 2011 and, by 2016, that number should reach 21.3 million pounds, a CAGR of 5.9%.
The other industrial segment, by far the largest, totaled 321 million pounds in 2011. By 2016, this segment should reach 468.6 million pounds, a CAGR of 7.9%.
A small yet strategic global market, specialty fibers are a critical and essential element in many advanced technologies. The specialty fibers industry, however, has changed significantly in the past 10 years. The financial crisis and a severe global recession particularly affected industrial and other end-use markets for specialty fibers, leading to diminished demand. At the same time, new entrants in China and expansions by existing producers have resulted in additional capacity. This has led to lower operating rates for many producers, a more competitive market, and pricing pressures. These drivers will continue.
New product development, marketing, and technical servicing are keys to success in this industry. Many suppliers compete in the same market segments, and corporate recognition or reputation gained through advertising and promotion have become important factors. Most specialty fiber companies have adopted either a strategy of product differentiation along fiber material (e.g., boron) or a strategy of focus (market segmentation) that is usually based on a product-type basis (e.g., aircraft brakes). Product differentiation has also been achieved via corporate image.
Audiences for this study include marketing executives, business unit managers, commercial development directors, and other decision-makers in specialty fiber companies. Technology suppliers, fabricators and assemblers, suppliers of competing and ancillary materials, suppliers of plastic resins, end-use product manufacturing companies, and other companies peripheral to this business also represent a key audience.
THE GLOBAL MARKET FOR SPECIALTY FIBERS, 2007-2016
(THOUSANDS OF POUNDS)
Source: BCC Research
Specialty Fibers: Technologies and Global Markets( AVM060B )
Target Date: January 2012 Price: $5450.00
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