Felton, 28 November
2019 - Aramid Fiber Market is anticipated
to reach US$ 5.90 billion by 2025. Aramid Fiber implies man-made
high-performance fiber; with particles that are characterized by relatively
rigid polymer chains. Factors such as surge in demand for self-protective
clothing from numerous applications such as defense and industrial sector,
strict regulations regarding carbon emissions, rising disposable income,
technological advancement, development of these end-user industries and rising
need of aramid fibers in different industries are likely to drive the aramid
fiber industry in the forthcoming period.
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On the other hand, the high cost of production is
anticipated to hinder aramid fibers market growth in the future. However, the
facts that these fibers are heat resistant, lightweight, highly durable, and
non-flammable are likely to create lucrative opportunities for the market.
Aramid fiber industry is predicted to expand at a significant CAGR of 8.2% in
the upcoming period as the scope, product types, and its applications are
increasing across the globe.
Aramid fiber market could be explored by product type,
application, and geography. Aramid fiber industry could be explored by product
type as Meta-Aramid, Para-Aramid, and Others. The “Para-aramid” segment accounted
for a prominent share in the market. It is likely to witness substantial growth
in the years to come.
The key factors that could be attributed to the growth of
the market include beneficial properties such as rigid molecular structure and
high strength that propel its application in protection and security
application. Moreover, increasing demand for protective headgear, protective
footwear, safety goggles, earplugs, safety harnesses, gloves, and others.
The key applications that could be explored in the aramid
fiber market include Rubber Reinforcement, Frictional Materials, Security &
Protection, Tire Reinforcement, Optical Fibers, Aerospace, Electrical
Insulation, and Others. The “Security & Protection” segment accounted for a
prominent share in the market. It is likely to witness substantial growth in
the years to come. The key factors that could be attributed to the growth of
the market include rising concerns over the protection of workers in the
industrial and military sectors. The “Security and Protection” segment is
followed by “Optical Fibers” segment.
Key players operating in the aramid fiber industry include
Teijin Aramid, E. I. du Pont de Nemours, and Company, Kolon Industries Inc.,
Yantai Tayho Advanced Materials Co. Ltd. Kermel, HYOSUNG Corporation, Guangdong
Charming Co., Ltd., Alchemie Group, China National Bluestar Co. Ltd., and SRO
Group Ltd. The leading companies are taking up partnerships, mergers and
acquisitions, and joint ventures in order to boost the inorganic growth of the
industry.
Market Segment:
Aramid Fiber Products
Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
• Para-Aramid
• Meta-Aramid
• Others
Aramid Fiber
Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
• Security &
Protection
• Frictional
Materials
• Rubber
Reinforcement
• Optical Fibers
• Tire
Reinforcement
• Electrical
Insulation
• Aerospace
• Others
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