Aramid Fiber Market Size

Aramid Fiber Market Size

Aramid fiber market size was USD 3.5 billion in 2020 and is estimated to exhibit a CAGR of over 9% from 2021 to 2027. Rapidly growing safety products demand across the globe is anticipated to fuel the industry growth over the forecast period.

Aramid fibers have been highly desirable industrial fibers in the recent years for their unique characteristics such as high strength, dimensional stability, and heat resistance. These are long chain synesthetic polyamides in which at least 85% amide linkage are attached between two aromatic rings

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Aramid fiber consumption is likely to witness robust growth with the growing demand for disaster readiness materials. Technological advances aimed at reduction of soldiers’ load and improved personal protection are estimated to drive the need for lightweight and soft body armor in the near future. This will in turn have a positive influence on the aramid fiber market by 2027.

Aramid fibers prove to be a suitable replacement to asbestos, particularly in case of composite materials. Rising anti-asbestos norms will bring brighter prospects for aramid fibers across various industries in the near future. The market has witnessed consistent technological upgrades, especially in military equipment, in order to address the rising asymmetry in warfare. Industry players have been striving to improve their cost competitiveness by increasing productivity and manufacturing capacities with the automation of production processes.