Market Overview:
Aramid fibers are synthetic fibers known for their high strength-to-weight ratio and heat resistance properties. They are used in the manufacturing of various industrial protective fabrics, ballisticprotection equipment, aerospace & defense, and automotive & transportation.
Market key trends:
One of the major trends driving growth in the aramid fibers market is the increasing demand for industrial protective fabrics across several applications. Aramid fibers find widespread adoption in manufacturing industrial protective clothing owing to their lightweight yet durable properties. They help safeguard workers from various extreme hazards like slashes, punctures, heat, and electricity sparks which makes them a preferred choice for manufacturing protective apparel for workers in industries like oil & gas, electronics and electrical, firefighting etc. This growing demand from the industrial protective fabrics segment is fueling significant growth in the global aramid fibers market.
The global Aramid Fibers Market Demand is estimated to be valued at US$ 4447.55 Bn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Segment Analysis
The global aramid fibers market can be segmented based on type and application. Based on type, the meta-aramid fibers segment dominates the global market. Meta-aramid fibers have phenomenal tensile strength and heat resistance properties, which makes them suitable for applications requiring high strength and thermal protection. By application, the security segment accounts for the largest market share. Aramid fibers are widely used in ballistic-rated body armor for military and law enforcement personnel due to their ability to effectively stop bullets, fragments, and slashes.
Key Takeaways
The global aramid fibers market is expected to witness high growth, exhibiting CAGR of 3.8% over the forecast period, due to increasing demand from the automotive and defense industries.
Regional analysis: Asia Pacific dominates the global aramid fibers market and is expected to continue its dominance over the forecast period. This is attributed to growing automotive, electronics, and construction industries in China, India, and Southeast Asian countries. North America is the second largest market for aramid fibers owing to high demand from the defense and aerospace sectors in the US and Canada.
Key players analysis: Key players operating in the aramid fibers market are China National Bluestar (Group) Co. Ltd, DuPont, Hebei Silicon Valley Chemical Co Ltd, Huvis, Hyosung, Kermel, Kolon Industries Inc., Shenma Industrial Co. Ltd, Sinopec Yizheng Chemical Fibre Limited Liability Company, Suzhou Zhaoda Specially Fiber Technical Co.,Ltd., Teijin Limited, Toray Industries Inc., Wuxi, Heshengyuan Carbon Fiber Technology Co. Ltd, X-FIPER New Material Co. Ltd, Xiamen Chao Yu Environmental Protection Technology Co. Ltd, and Yantai Tayho Advanced Materials Co. Ltd. These players are focusing on capacity expansion and new product launches to strengthen their position in the global market.
For More Insights, Read- https://www.newsanalyticspro.com/aramid-fibers-to-boost-the-global-aramid-fibers-market-growth-trends-and-forecast-analysis/
The Global Aramid Fibers market research report provides an insightful analysis of the current market, along with a futuristic perspective on the growth of the market.
The report offers valuable insights into the market size, market share, revenue, sales volume, and CAGR.
The information offered by the report gives an idea about the scope, potential, and profitability of the market.The recent COVID-19 pandemic has drastically changed the dynamics of the market and resulted in an economic slowdown.
They are the major companies for aramid fibers.The forecast estimation states the global Aramid Fibers market is expected to dominate the economic sphere of the world with significant growth in the coming years.
The current and emerging trends are expected to shape up the industry and help in gaining a strong foothold in the global market to contribute to the revenue generation.The Global Aramid Fibers market is further analyzed on the basis of key companies operating in the business sphere and major geographical regions where the market has a substantial size and growth rate.Spinning Process Outlook (Revenue, USD Billion;Volume, Kilo Tons; 2017-2027)Wet SpinningDry SpinningOther Spinning ProcessType Outlook (Revenue, USD Billion; Volume, Kilo Tons 2017-2027)Para-AramidMeta-AramidApplication Outlook (Revenue, USD Billion; Volume, Kilo Tons 2017-2027)Security & ProtectionFrictional MaterialsOptical FibersTire ReinforcementsElectrical InsulationOthersZonal Partition of the Market: North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.To read more about the report @ https://www.reportsanddata.com/report-detail/aramid-fibers-marketThe report covers extensive analysis of market segments that are anticipated to lead by the end of the forecast period (2020-2027).
The report puts a special emphasis on the upstream raw materials, downstream buyers, industrial chain analysis, technological and product advancements, and production and manufacturing capacities of the Aramid Fibers market.
“Industry Overview of the Report 2026:The market intelligence report on the Global Aramid Fibers Market offers the readers a 360° market overview with definitions, market segments, applications, raw material used, product details, cost structures, production processes, and other essential data.
The study evaluates the global market landscape, with an in-depth analysis of product pricing, production and consumption volume, cost, value, production capacity, supply and demand dynamics, annual market growth rate, and market estimation till 2026.Market Size – USD 3.32 billion in 2018, Market Growth - CAGR of 8.5%, Market Trends –Global rise in the automotive industryCheck out the Sample Report here: https://www.reportsanddata.com/sample-enquiry-form/1179The Global Aramid Fibers Market Can Be Segmented By:Leading Players: DowDuPont, Toray Industries Inc., Hyosung Corp. , Kolon Industries Inc., China National Bluestar (Group) Co. Ltd., Huvis Corp., Yantai Tayho Advanced Material Co., Teijin Ltd., Kermel, Taekwang Industrial Co., Ltd.Product Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)Para-aramid FiberMeta-aramid FiberTechnology Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)Wet spinningDry spinningApplication Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)Aerospacesecurity and protectionAerospaceAutomotiveTelecommunicationOptical fibersProperty Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)High tensile strengthHigh melting pointNon conductiveGo For Interesting Discount Here: https://www.reportsanddata.com/discount-enquiry-form/1179Regional Outlook (Revenue in USD Million; 2016–2026)North America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)Asia-Pacific (China, Japan, Korea, India and Southeast Asia)South America (Brazil, Argentina, Colombia)This investigative report on the Global Aramid Fibers Market gives a comprehensive overview of the current market development, highlighting key market dynamics.
The study also provides a meticulous evaluation of the key threats faced by the pioneers of the market, which allows the participants to comprehend the challenges they may encounter in the future as part of the global market in the forecast duration.The Market Report Contains The Following Chapters: Chapter 1: This report on the Global Aramid Fibers Market brings in one place all the vital information pertaining to the sector.
Chapter 2: The report comprises of a detailed analysis of players that account for a significant portion of the global market share in the Aramid Fibers industry, highlighting the company’s latest technological advancement in the market, and the product profile currently available in the market, as well as the regions where they predominantly operate.
Chapter 3: It helps understand the major product segments and the future of the Global Aramid Fibers Market.
Chapter 4: The report also provides an eight-year forecast survey predicting the growth of the market in the forecast duration.The Aramid Fibers industry research report outlines aspects like production, demand and supply, sales, and the contemporary market scenario exhaustively.
Adroit Market Research launched a report on, “Global Aramid Fibers Market Size 2017 Product (Meta-aramid, Para-aramid, Others), Application (Aerospace, Frictional Materials, Security & Protection, Electrical Insulation, Tire Reinforcement, Optical Fiber, Rubber Reinforcement, and Others), By Region and Forecast 2018 to 2025”.
The report includes the global aramid fibers market analysis, such as Porter’s Five Forces, and key market trends (drivers, opportunities, and restraints) along with the value chain.
For instance, a new radial tire has been developed by AkzoNobel and Dunlop that uses aramid fibers instead of conventional steel belt.
This new design eradicates expensive cryogenic crushing and is 30% lighter in weight.
For instance, Kolon Industries, a Korean company developed a super para-aramid fiber that is expected to be six times stronger than steel.
Kolon’s groundbreaking new para-amid fiber can be used in cable, hard hats, and armor.The Asia Pacific dominates the global aramid fiber market share owing to the presence of potential economies, such as China, South Korea, and India.
