Aramid Fiber Market size to surpass $5 bn by 2024

Aramid Fiber Market size is likely to exceed USD 5 billion by 2024; according to a new research report by Global Market Insights, Inc.
 

The global aramid fibers market is expected to achieve significant growth rates in the foreseeable future owing to increasing demand from automobile and aerospace industry. These fibers are used in manufacturing components which are subjected to high stress. For instance, its extensively used to manufacture gliders. Aramid fibers are also used in vehicle armors, as the structures of its chain molecules is in a way that all the bonds are properly aligned along axis of fiber providing excellent strength, abrasion tolerance and flexibility to the product. Global aircraft production has also increased in 2017 as a result of increasing demand from the commercial aircraft sector led by narrow body, single aisle aircrafts. With the growing aerospace and defense industry worldwide, demand for the aramid fiber market is expected to rise in future.



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Aramid fibers are increasingly gaining importance in defense industry owing to unique characteristics possessed by them such as high strength coupled with low density. Moreover, increasing policies regarding safety and protection of workers in mines and building and construction sites is triggering the product demand in manufacturing protective clothing and equipment. Heightened security threats all across the globe, recovering US military and defense budgets together with increasing defense expenditure from countries like China, India and Japan is likely to generate high aramid fiber market share from these countries.
 

Aramid Fiber Market

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Non-biodegradable nature of these fibers coupled with high production cost acts as a major restraint to market growth. The production process generally requires high research and development activities and advanced technologies.
 

Browse key industry insights spread across 196 pages with 258 market data tables & 25 figures & charts from the report, “Aramid Fiber Market Size By Product (Para Aramid, Meta Aramid, Copolyamide), By Application (Safety Applications, Optical Fibers, Frictional Materials, Tire Reinforcement, Rubber Reinforcement, Electrical Insulation), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Thailand, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/aramid-fiber-market
 

Para aramid fibers are extensively used in the industry followed by meta aramid and. Copolyamide. Copolyamide fibers have strongly oriented chemical structure having both meta and para linkages. It is produced by polymerization of various copolymers yielding low creep, high modulus as well as thermally stable fibers. These categories of fibers find use in membranes and films. Moreover, para and meta fibers are used in ballistic protection and in composite applications like in lorries/trucks and aircrafts.
 

The product has found its applications in many fields, but safety application segment holds the major aramid fiber market share in the industry. It is used in production of protective clothing and armor owing to its high strength, high modulus and low flammability. Optical fiber also grabs a significant share among all the application segments. Aramid fibers are used to provide safeguard against mechanical stress with the aim to ensure optical performance. It is normally applied to optical cables to provide necessary protection. The product also provides additional functionalities addressing weight, dielectric, flexibility, and handling in optical fiber cable.
 

North America and Europe registered themselves as the top two aramid fiber market owing to increasing demand from end user industries. European countries have shown a remarkable increase in its defense budget from the last few years. For instance, UK’s budget for 2017 grew by 1.4% to USD 1.2 billion occupying fourth position worldwide. The country is even expecting an investment of around USD 38.6 billion in order to strengthen its military and defense sector.
 

Asia Pacific also have a high growth potential for aramid fiber market size due to increasing defense expenditure from countries like India, Japan and China. Indian government has introduced various policies to attract FDI in aerospace and defense industry. The government has also eased norms for defense sector in 2016 allowing foreign companies to have full domestic ventures by government approval. In 2017, Government of India introduced a strategic partnership policy in which Indian firms will be permitted to enter into partnership with foreign OEMs to enhance nation’s self-reliance in defense sector.
 

Significant players in aramid fiber market include Teijin Aramid B.V., Hyosung, DowDuPont Yantai Tayho Co., Huvis Corporation, Kolon Industries, Inc., Kermel, JSC Kamenskvolokno, etc. The major players are highly competitive to gain an additional edge with strategic innovation or capacity expansion. For instance, DuPont has undergone a joint venture with Toray Corporation, where it manufactures the ‘Arawin’ range of aramid fibers to expand its product portfolio.
 

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Aramid fiber market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons & revenue in USD million from 2013 to 2024, for the following segments:
 

Aramid Fiber Market, Product By Application

  • Para Aramid
    • Safety applications
    • Optical fibers
    • Frictional materials
    • Tire reinforcement
    • Rubber reinforcement
    • Electrical insulation
    • Others
  • Meta Aramid
    • Safety applications
    • Optical fibers
    • Frictional materials
    • Tire reinforcement
    • Rubber reinforcement
    • Electrical insulation
    • Others
  • Copolyamide
    • Safety applications
    • Optical fibers
    • Frictional materials
    • Tire reinforcement
    • Rubber reinforcement
    • Electrical insulation
    • Others

Aramid Fiber Market, By Application

  • Safety applications
  • Optical fibers
  • Frictional materials
  • Tire reinforcement
  • Rubber reinforcement
  • Electrical insulation
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Thailand
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • South Africa
    • GCC

 

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