The new report by Expert Market Research titled, 'Global Aramid Fibre Market Price, Trends, Growth, Analysis, Report and Forecast 2021-2026', gives an in-depth analysis of the global aramid fibre market, assessing the market based on its segments like type, application and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD 3.8 billion
• Forecast CAGR (2021-2026): 8%
• Forecast Market Size (2026): USD 6.1 billion
The market for aramid fibre has seen substantial growth due to factors such as rising demand in the safety and security industry for personal protective equipment and the use of aramid fibre . Also, increased knowledge across different industries offers an enormous market opportunity for key players in the aramid fibre market. The growth of the industry has been helped by the growing demand for lightweight materials for personal protective equipment and clothing that protects an individual from physical, electrical or biological risks. Aramid fibre is commonly adopted in safety and defense applications due to its characteristics. In addition, aramid fibre is also seeing expanded usage in sectors such as construction, automotive, aerospace, and defense. The rising industrialization and urbanization around the world and the rapid developments in technology have greatly contributed to the industry's expansion. The emerging applications of aramid fibers in the optical fibre industry and the increasing investment in R&D activities are expected to further boost the growth of the industry over the forecast period.
Industry Definition and Major Segments
Aramid fibre is part of a class of synthetic fibres that are heat-resistant and strong. It is formed by spinning, in concentrated sulphuric acid, a liquid crystalline solution of aromatic polyamide or long-chain polyamide. Known for its tremendous mechanical strength and low molecular weight, it is highly resistant to abrasion, heat and organic solvents. It has many uses, including protective clothing manufacturing, ballistic-rated fabric for body armour, and ballistic composites. It is commonly used and is frequently used for electrical insulation in the military, aerospace, and construction industries.
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Based on the type, the industry is divided into:
• Meta-Aramid Fibre
• Para-Aramid Fibre
Based on the application, the industry is divided into:
• Optical Fibres
• Frictional Materials
• Security and Protection
• Industrial Filtration
• Tyre Reinforcement
• Rubber Reinforcement
The regional markets for aramid fibre include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Geographically, because of the increased focus of governments on improving the security and military sectors in their respective countries, developed regions like North America account for a large share of the industry. Within North America, because of the high spending on military and defense equipment and the increasing oil and gas industry, the United States contributes significantly to the development of the industry. In the automotive industry, because of its properties such as high thermal resistance and tremendous tensile strength, aramid fibers are commonly used in the manufacture of reinforcement materials for tires, brake pads, clutches, seat fabrics and gaskets, among others. These characteristics make aramid fibres a popular alternative for automotive manufacturers to prepare heat shields and for applications under the bonnet. Meanwhile, the increasing demand in the military and defense sectors for lightweight personal protective equipment is also contributing to the growth of the aramid fiber industry. Aramid fibres may be used to prepare items like gloves and helmets that are bullet-proof and stab resistant. In the coming years, this is projected to fuel the development of the industry further.
Key Market Players
The major players in the market are Teijin Limited, DuPont de Nemours, Inc., Huvis Corporation, Shenma Industrial Co., Ltd., Kolon Industries, Inc., Kermel, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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