Aramid Fiber Market Expected to See Incredible Growth USD 6.84 billion by 2029, at a 9.2% CAGR | Teijin Ltd., DuPont De Numerous, Inc., Yantai Tayho Advanced Materials Co., Ltd

PRESS RELEASE
Published April 8, 2023

 

Exactitude Consultancy Market Research analyses that the Aramid Fiber market will witness a CAGR of 9.2% for the forecast period of 2023-2029 and is likely to reach at USD 6.84 billion by 2029 from USD 3.10 billion in 2022.

The Aramid Fiber Market Research Report includes in-depth research and insights into the market size, revenues, important categories, growth drivers, limiting factors, and regional industrial presence. The goal of the market research study is to extensively explore the Chemical and Material industry and obtain an understanding of the business and its economic potential. As a consequence, the client gains wide information about the industry and business from the past, present, and future viewpoints, allowing them to spend money and deploy resources wisely. This report is 85 pages long and includes a detailed table of contents, a list of figures, tables, and charts, as well as significant analysis.

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Years considered for this report:

Historical Years: 2018-2021

Base Year: 2022

Estimated Year: 2023

Forecast Period: 2023-2029

Market Dynamics:

Driver: Surge in demand for personnel protection equipment and potential substitutes for asbestos

Aramid fiber is widely used in safety and security applications, including military, private security, and private contractors involved in government projects. Furthermore, not only does defense sector benefit from the use of this fiber, but the demand for protective apparel is increasing as a result of increased demand from industrial organizations. These fibers are utilized for making fire-proof, stab-proof, and cut-proof protective clothing such as gloves, footwear, helmets, and coveralls. Recent technological advancements in armors have helped to reduce the excess weight for soldiers, and improvement in personal protective equipment is leading to a rise in demand for soft and lightweight armor material, and therefore aramid fibers, in the near future.

Restraint:

Poor resistance to ultraviolet radiation and high cost of aramid fibers Aramid fiber is sensitive to UV light, which causes significant deterioration. It has been discovered that exposing the fiber to UV radiation causes significant damage, including color changes, deterioration of mechanical properties, mass loss, and changes in the morphology and structure, which leads to a decrease in performance, premature failure, and a limit on the material’s potential for outdoor use.

Aramid is a costly material as compared to carbon fiber. Therefore, it is utilized for specific purposes where high impact/abrasion resistance and low finished product weight are required. One sqm of finished prepreg with a weight of 200 g/m2 for composite manufacture costs around USD 30-45 per sqm. Aramid fibers have a lesser compression strength than carbon fibers or glass fibers hybrid fabrics, which are generally used in components subjected to extreme compressions.

Aramid Fiber Market: Demand Analysis and Opportunity Outlook to 2023-2029

The Aramid Fiber study defines the market size of various segments and countries by historical years and forecasts the value for the next 7 years. The report brings together qualitative and quantitative elements of the Aramid Fiber industry, including: market share, market size (value and volume 2017-2022, and forecast to 2023-2029), in the highly competitive market for each country concerned Express appreciation. Furthermore, the study also caters and provides in-depth statistics on the key elements of Aramid Fiber, which includes drivers and restraints that help in estimating the future growth prospects of the market.

The study pays attention to the loftiest revenue-generating and highest growing segments of the Aramid Fiber market. This makes the research document accurately organized and systematic alongside encouraging a simpler understanding of each facet covered in this report. Major Key players profiled in the report include: Teijin Ltd., DuPont De Numerous, Inc., Yantai Tayho Advanced Materials Co., Ltd., Hyosung Corp., Toray Industries, Inc., Kolon Industries Inc., Huvis Corporation, Kermel, China National Bluestar Co., Ltd., and SRO Aramid (Jiangsu) Co. Ltd. and others.

Aramid Fiber Market Recent Developments

  • June 2022: Teijin Aramid B.V. introduced the Woven Matrix concept for the easy manufacturing of various ballistic protection solutions. The company’s high-performance para-aramid, Twaron, is used to create the woven matrix. The new fabric-based matrix technology would help the company assist its defense and security customers in streamlining their manufacturing processes by reducing the need for pre-pegging activities.
  • May 2022: Taekwang Industry announced an investment of USD 112 million to boost aromatic polyamide (aramid) production from 1,500 tons to 5,000 tons per annum by 2025.

Aramid Fiber Market Segmentation:

Aramid Fiber Market By Product, 2023-2029, ( USD Million) (Kilotons)

  • Para-Aramid
  • Meta-Aramid

Aramid Fiber Market By Application, 2023-2029, (USD Million) (Kilotons)

  • Security & Protection
  • Frictional Materials
  • Rubber Reinforcement
  • Optical Fibers
  • Tire Reinforcement
  • Electrical Insulation
  • Aerospace

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Geographically, the following regions were investigated:

  • North America (United States, Canada and Mexico)
  • Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
  • Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
  • South America (Brazil, Argentina, Colombia, and Rest of South America)
  • Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

Key market aspects are illuminated in the report:

Executive Summary: It covers a summary of the most vital studies, the Aramid Fiber market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.

Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Aramid Fiber market, the years measured, and the study points.

Company Profile: Each Firm well-defined in this segment is screened based on a product, value, SWOT analysis, their ability and other significant features.

Manufacture by region: This Aramid Fiber report offers data on imports and exports, sales, production and key companies in all studied regional markets

What is the purpose of this report?

  • A thorough review of the Aramid Fiber market, including regional markets.
  • Comprehensive coverage of all segments of the Aramid Fiber market to assess trends, developments and market size forecasts till 2023-2029.
  • A thorough examination of deals involved in the Aramid Fiber market including product portfolio, revenue, SWOT analysis and recent company advancements are examined in the company profile.
  • The growth matrix analyzes the product categories and geographic regions in which market companies should focus their efforts to invest, consolidate, expand and/or diversify.

There are 13 Sections to show the Aramid Fiber market:      

Chapter 1: Aramid Fiber Market Overview, Drivers, Restraints and Opportunities, Segmentation overview

Chapter 2: Market Competition by Manufacturers

Chapter 3: Production by Regions

Chapter 4: Consumption by Regions

Chapter 5: Production, By Types, Revenue, and Market share by Types

Chapter 6: Consumption, By Applications, Market share (%), and Growth Rate by Applications

Chapter 7: Complete profiling and analysis of Manufacturers

Chapter 8: Manufacturing cost analysis, Raw materials analysis, Region-wise manufacturing expenses

Chapter 9: Industrial Chain, Sourcing Strategy, and Downstream Buyers

Chapter 10: Marketing Strategy Analysis, Distributors/Traders

Chapter 11: Market Effect Factors Analysis

Chapter 12: Aramid Fiber Market Forecast

Chapter 13: Aramid Fiber Market Research Findings and Conclusion, Appendix, methodology, and data source

Key questions answered in the report include:

  • What is the growth potential of the Aramid Fiber market?
  • Which regional markets will emerge as leaders in the next few years?
  • What are the key challenges facing the Aramid Fiber market in the future?
  • Who are the most prominent players in the global Aramid Fiber market?
  • What are the key trends positively impacting market growth?

Key Points from TOC:

  1. Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  2. Executive Summary
  3. Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  4. Key Insights
    • Global Statistics — Key Countries
    • New Product Launches
    • Pipeline Analysis
    • Regulatory Scenario — Key Countries
    • Recent Industry Developments — Partnerships, Mergers and Acquisitions
  5. Global Market Analysis, Insights and Forecast
  6. Key Findings/ Summary
    • Market Analysis — By Product Type
    • Market Analysis — By Distribution Channel
    • Market Analysis — By Countries/Sub-regions
  7. Competitive Analysis
    • Key Industry Developments
    • Global Market Share Analysis
    • Competition Dashboard
    • Comparative Analysis — Major Players
  8. Company Profiles
    • Overview
    • Products and Services
    • SWOT Analysis
    • Recent developments
    • Major Investments
    • Regional Market Size and Demand
  9. Strategic Recommendations

TOC Continued……………….

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