The Asia Pacific The region is expected to grow at a rate of 6% CAGR, mainly driven by the Chinese aramid fiber market. The future of the global aramid fiber market is bright as it will be served by advanced robotic devices in logistics and warehousing operations that reflect established trends in America, such as labor-free warehouses.
NEWARK, Del., July 19, 2022 /PRNewswire/ — The World aramid fiber market is expected to witness an impressive growth rate of 5.3% during the forecasted years from 2022 to 2032. The global aramid fiber market size is expected to reach a valuation of approximately US$6.4 billion by the end of the year 2032 from the current assessment of US$3.8 billion in 2022.
The global aramid fiber market is driven by the growing need for extremely lightweight polymers from the automotive, military and defense industries for a variety of applications. Additionally, restrictions on reducing carbon emissions are forcing a number of industrial players to look for substitute reinforced fibers, which has further fueled the growth of the aramid fiber market.
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Several industrial protection products constitute the main application segment of the global aramid fibers market, which is also expected to increase positively, thanks to the increasing use of aromatic polyamides in personal protective equipment, especially those that are also resistant to bullets and stab wounds if used in surgical helmets and gloves. The need for protective equipment is fueled by stringent safety regulations for workers in industries such as oil and gas, construction, aluminum and steel, which would drive opportunities in the global fiber market aramids worldwide.
Due to its growing demand for several modern industrial applications, para-aramid fiber type is expected to see the greatest expansion among all product types. On the other hand, opportunities in the global aramid fiber market are expected to be limited by substantial R&D expenditures and the non-biodegradability of aramid fibers.
Key insights from market research
- The absolute growth of the global aramid fibers market in dollars is estimated at around US$3.4 billion over the next decade following the average CAGR of 5.3%.
- The para-aramid fibers group holds the major part of the world market for aramid fibers, contributing nearly 75% of sales made worldwide.
- While the group of meta-aramid fibers is expected to experience the highest growth rate due to its better thermal resistance capabilities.
- Within the application categories, the safety and protection segment remains the dominant sector for the global aramid fiber market share.
- On the other hand, recent developments in the automotive industry have made application segments of friction materials a lucrative option for several players in the global aramid fiber market.
- Traditionally, Europe has retained the leading market for aramid fiber composites, which has been disrupted in recent years due to industrialization and the gradual development of trade towards the Asia Pacific savings.
- The Asia Pacific The region is expected to grow at a CAGR rate of 6%, mainly driven by the Chinese aramid fiber market.
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Some of the major global players in the aramid fiber market are Teijin Ltd., Yantai Tayho Advanced Materials Co, EI du Pont de Nemours and Company (DowDuPont), Hyosung & Hyosung Corp., Toray Chemicals South Korea, Inc., Kermel SA, Kolon Industries. , Inc., Huvis Corp., China National Blue Star (Group) Co., Ltd., and SRO Aramid (Jiangzu) Co., Ltd., among others.
Recent Developments in the Global Aramid Fiber Market:
- The planned 25% improvement for TEIJIN LIMITED’s Twaron Aramid Fibers entered its next phase in November 2019. This key aramid fiber company operations should benefit from the increased production, which is expected to occur by 2022 at its two Dutch plants in Delfzijl and Emmen.
- Teijin Ltd. has achieved the development of high performance para-aramid fibers using environmentally friendly raw materials in 2020. Many products, such as vehicle tires, air transport ships and personal protective clothing, use these fibers.
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Key Segments Covered by Aramid Fiber Industry Research
By product type:
- Security Protection
- Friction materials
- Rubber reinforcement
- Optical fiber
- Tire reinforcement
- Electrical insulation
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa
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1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis of the technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Market Context
3.1. Market dynamics
3.2. Scenario forecast
3.2.1. Demand in the optimistic scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in the conservative scenario
3.3. Opportunity Map Analysis
3.4. Product life cycle analysis
3.5. Supply chain analysis
3.5.1. Supply-side participants and their roles
188.8.131.52. Mid-level participants (traders/agents/brokers)
184.108.40.206. Wholesalers and distributors
3.5.2. Value added and value created at the node of the supply chain
3.5.3. List of raw material suppliers
3.5.4. List of existing and potential buyers
3.6. Investment Feasibility Matrix
3.7. Value chain analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and distributors
3.8. PESTLE and Porter’s analysis
3.9. Regulatory landscape
3.9.1. By key regions
3.9.2. By key countries
3.10. Regional Parent Market Outlook
3.11. Production and consumption statistics
3.12. Import and export statistics
4. Global Aramid Fiber Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size (USD Million) and Volume (Tons) Value Analysis, 2017-2021
4.2. Current and Future Value Projections of Market Size (USD Million) and Volume (Tons), 2022-2032
4.2.1. Analysis of annual growth trends
4.2.2. Analysis of opportunities in absolute dollars
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