Global Aramid Fiber Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global aramid fiber market in its upcoming report titled, “Global Aramid Fiber Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027”. The global aramid fiber market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global aramid fiber market report has been segmented on the basis of product type, application, and region.

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This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Aramid is short form of ‘aromatic fiber’, that is made from high performance fiber. This fiber has high strength, low flammability, good resistance to organic solvents and abrasion. It is used for military clothing, body armor, bicycle tier, sports goods, optical cables and many more.

Increasing demand for protection gear in industrial and defense sector is a major factor driving growth of the global aramid fiber market. Stringent rules set by government for compulsion on use of protection wear in many industries is another factor fueling growth of the global market. Increasing use of meta aramid fiber for electrical insulation is also a factor propelling growth of the target market. Increasing military budget of developing countries, due to rising instances of terrorism and political unrest has also given rise to gears made using aramid fiber such as ballistic related body armor, hunting gators and gloves. Use of aramid belts as alternative for steel belts that are used in conveyors and increasing use of aramid in aerospace sector are factors expected to support growth of the global market over the forecast period.

However, high cost of aramid fiber and wide availability of other low cost substitute materials are major factors expected to hamper growth of the global aramid fiber market.

Development of cost-effective aramid fiber and increasing research and development to expand application of aramid fiber can create high revenue opportunities for major players in the target market.

The market in Europe accounts for largest market share in terms of revenue and is expected to maintain its dominance over the forecast period, owing to government rules regarding safety and increasing use of aramid fiber in the automotive sector in the region. The market in North America is expected to account for second-highest share in the market in terms of revenue over the forecast period, owing to increasing use of aramid for protection clothing in the region. The market in Asia Pacific is expected witness lucrative growth especially in China, India and Japan.

Global Aramid Fiber Market Segmentation:

Segmentation by product type:

• Para aramid
• Meta aramid

Segmentation by application:

• Aerospace
• Electrical and electronics
• Defense
• Telecommunication
• Automotive

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

• I. du Pont d e Nemours & Co.
• DowDuPont Inc.
• Kolon Industries, Inc.
• Teijin Limited
• Honeywell International Inc.
• Hyosung Corporation
• Toray Industries, Inc.,
• SRO Aramid (Jiangsu) Co., Ltd
• Yantai Tayho Advanced Materials Co. Ltd
• Huvis Corporation