The polybenzoxazole fibers market size is likely to grow due to the increasing use of polybenzoxazole fibers in firefighting suits, and other protective gear is projected to drive market expansion. Fortune Business InsightsTM has presented this information in its upcoming report titled, “Polybenzoxazole Fibers Market, 2022-2029”. These fibers are employed in sports clothes because of their great qualities, such as high elasticity and low weight. Furthermore, they are utilized in motorsport racing to attach tires to the chassis using these fibers, limiting airborne wheel movement in the event of a high-speed collision.
COVID-19 Impact –
The COVID-19 epidemic has impacted all productive sectors to varying degrees. The scarcity of personal protective equipment (PPE), particularly masks (UNICEF, 2020), which were previously obligatory for health professionals, but are now an essential item for the rest of the population as a means of containing the spread of the virus, is prompting efforts to manufacture this equipment from alternative materials. Companies and volunteers are attempting to meet the demand for such products by utilizing unconventional resources, resulting in a major economic circularity movement. Corrêa and Corrêa (2020) examined some of these projects focused on face shields and masks in a recent study. There was one thing they all had in common: they all utilized polymer material, either in its virgin state (as a raw material that had not yet been processed) or as recycled or reused material.
On the basis of type, the market is bifurcated into 4,6-Diammino Resorcinol and Terephthaloyl Chloride. On the basis of application, the market is divided into military applications, conductive textiles, motorsport applications, space elevators, and others. Geographically, the market is classified into Europe, Asia Pacific, Latin America, North America, and the Middle East & Africa.
The Russia-Ukraine war could change the market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
Report Coverage –
The report includes strategic analyses of the market’s competitors, a macro and micro analysis of market trends and scenarios, as well as a detailed overview of market conditions for the projected period. Furthermore, the report provides extensive information on primary and secondary drivers, leading segments, market share, geographical analysis, and the impact of COVID-19 in the industry.
Drivers & Restraints –
Use of Polybenzoxazole Fibers in Protective Gear to Drive the Market Growth
Polybenzoxazole fibers are employed in sports clothes because of their great qualities, such as high elasticity and low weight. Furthermore, they are utilized in motorsport racing to attach tires to the chassis using these fibers, limiting airborne wheel movement in the event of a high-speed collision. The demand for these fibers is predicted to rise owing to their increasing use in firefighting suits, and other protective gear is projected to drive market expansion.
However, the demand for these fibers is harmed as a result of mechanical and chemical degradation, limiting the polybenzoxazole fibers market growth.
Regional Insights –
North America to Hold a Huge Share due to Increased Use of PolybenzoxazoleFibers in Space Applications
North America is likely to hold a considerable polybenzoxazole fibers market share in the global market because of the increased use of these fibers in space applications. Due to rising demand and increased usage of fibers in space and military applications, Europe and Asia Pacific are projected to see substantial growth. In Latin America and the Middle East and Africa, the enhanced strength-to-weight ratio along with the greater stiffness supplied by such fibers to components in the aerospace and other industries is likely to boost market expansion.
Key Players To Employ Business Expansion Strategies
During the forecast period, the market is expected to grow at a significant rate. Market players such as Toyobo, Fiber-Line, and EuroFiber are adopting various strategies to expand their business, such as major collaborations, mergers & acquisitions, as well as trending innovation and business policies.
December 2019:Lumat Group announced a merger with Dominion Fiber Technologies (DFT) and EuroFibers. From January 2020, the new organization will be known as FibrXL. FibrXL would be in charge of producing high-performance fibers such as Dyneema, Twaron, Technora, Vectran, and Zylonfibers The corporation would also alter the size, packaging, and weight of the products, among other things.
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.