Aramid Fibers Market Revenue, Product Launches, Regional Share Analysis & Forecast Till 2030
According to the latest
report by Reports and Data, the global Aramid Fibers Market size is
expected to reach USD 8,569.4 Million in 2030 and register a revenue CAGR of
6.0% over the forecast period. Growing automotive, aerospace, defense, and
construction industries are among the key factors driving the market revenue
growth. In addition, the growing need for lightweight materials for personnel
protection equipment that protects the wearer from thermal, physical,
electrical, and biological dangers is fueling the market revenue growth.
The report also provides
a comprehensive analysis of the competitive landscape and studies the key
competitors of the Aramid Fibers industry. The report focuses on company
overview, financial standing, global market position, revenue contribution,
production and manufacturing capacity, and business expansion plans. It also
focuses on recent mergers and acquisitions, joint ventures, collaborations,
partnerships, agreements, product launches, and brand promotions, among others.
The study includes SWOT analysis and Porter’s Five Forces analysis to provide a
comprehensive overview of the competitive landscape.
Aramid fibers are
man-made fibers characterized by relatively rigid polymer chains. Strong
hydrogen bonds connect the molecules, efficiently transferring mechanical
strength despite their low molecular weight. These fibers have high strength,
better abrasion resistance, better resistance to organic solvents, high melting
points, non-conductivity, good fabric integrity, and low flammability at high
temperatures.
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Companies
profiled in the market report:
DuPont, Toray Industries,
Inc., Hyosung Corporation, Kolon Industries Inc., and China National Bluestar
(Group) Co. Ltd, Teijin Limited, Kermel, Ibiden Co., Ltd., SRO Aramid (Jiangsu)
Co., Ltd., and Yantai Tayho Advanced Materials Co., Ltd.
Market
Dynamics:
The global Aramid Fibers
markets are projected to register robust revenue CAGR during the forecast
period between 2022 and 2030. Increasing awareness about green energy and
eco-friendly biodegradable products and the environmental impact due to carbon
emissions are a few key factors supporting market growth. High demand for
various chemicals and raw materials in various industrial sectors such as food
and technology, pharmaceutical and biotechnology, manufacturing, paint and
coating, paper, and plastic among others. In addition, increasing research and
development activities, growing demand for products like perfumes, soaps, and
detergents for daily usage along with rising disposable income across the globe
are further boosting the market growth.
Some
Key Highlights From the Report:
·
Para-aramid fiber segment is expected to
register a considerable revenue growth rate over the forecast period.
Para-aramid fiber is high-performance aramid fiber, with molecules that are
characterized by relatively rigid polymer chains. It is produced by p-phthaloyl
chloride (TPC) and p-phenylenediamine (PPD) and is used for protective apparel,
tires, rubber goods, fiber-optic cable tension members, friction material, and
construction reinforcement among others.
·
The security & protection segment is
expected to register a significant revenue growth rate over the forecast period,
due to the unique set of qualities that cause these fibers to thicken when
exposed to extreme heat, such as flashover. They are widely used in security
& protection applications. This fiber also increases the protective shield
between the heat source and the skin when firefighters need it the most. This
tough barrier remains supple and flexible until it cools, providing extra
minutes of protection without impairing mobility.
·
The automotive segment accounted for the
largest revenue share in the aramid fibers market in 2020. Aramid fibers are
utilized in the production of tires reinforcement materials, powertrain
components, turbocharger hoses, brake pads, belts, gaskets, seat textiles,
clutches, electronics, seat sensors, and hybrid motor materials in the
automobile industry. Moreover, aramid fibers' exceptional thermal resistance
makes them perfect for use in heat shields and under bonnet applications.
·
The market in Europe is expected to
register the highest revenue share in the global aramid fibers market during
the forecast period. Europe is a hub for the world's largest automotive
manufacturers, which influences the tires market, which in turn influences the
aramid fibers market. Government health and safety standards, low loan rates,
the presence of large manufacturing organizations, expanding end-use
industries, and the rise of the automotive industries are all driving market
growth in this region.
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For the purpose of this
report, Reports and Data has segmented the global aramid fibers market based on
type, spinning process, application, end-use, and region:
Regional
Outlook (Revenue, USD Million; 2018-2030)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
Type
Outlook (Revenue, USD Million; 2018-2030)
·
Para-Aramid Fiber
·
Meta-Aramid Fiber
·
Others
Spinning
Process Outlook (Revenue, USD Million; 2018-2030)
·
Wet Spinning
·
Dry Spinning
Application
Outlook (Revenue, USD Million; 2018-2030)
·
Security & Protection
·
Frictional Materials
·
Optical Fibers
·
Tire Reinforcement
·
Electrical Insulation
·
Others
End-Use
Outlook (Revenue, USD Million; 2018-2030)
·
Aerospace & Defense
·
Automotive
·
Electronics & Telecommunication
·
Sports Goods
·
Others
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Key Points Addressed in the Report:
·
A detailed
analysis of the global Aramid Fibers market through assessment of key market
aspects such as technology, product type, application, end-use, and overall
industry dynamics.
·
Qualitative and
quantitative analysis of the market estimation and CAGR calculation for the
forecast period.
·
All-inclusive
assessment of market dynamics with emphasis on drivers, restraints,
opportunities, and limitations.
·
Extensive
profiling of key companies operating in the market including company overview,
financial standing, product offerings, product portfolio, recent product and
technological advancement, and business expansion plans.
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you for reading this article. You can also get chapter-wise sections or
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