Global market for specialty fibers is expected to be worth $5.6 bln in 2007. This is expected to increase to over $9.2 bln by 2012, a compound average annual growth rate (CAGR) of 10.5%. The market is broken down into applications of carbon fibers, aramid fibers, partially oxidized polyacrylonitrile, polybenzimidazole, and other specialty fibers. Of these, aramid fibers have the largest share of the market. Valued at $3.2 bln in 2007, this segment is expected to be worth $5.1 bln by 2012, a CAGR of 9.8%. The second largest segment, carbon fibers, was worth an estimated $1.4 bln in 2007 and will reach $2.5 bln by 2012, for a CAGR of 12.7%, BCC Research says.