Aramid Fibers Market Will Hit USD 8,569.4 Million at a CAGR of 6.0% by 2030 | Reports and Data

Aramid Fibers Market Will Hit USD 8,569.4 Million at a CAGR of 6.0% by 2030 | Reports and Data

September 22
21:49 2022
Aramid Fibers Market Will Hit USD 8,569.4 Million at a CAGR of 6.0% by 2030 | Reports and Data
Aramid Fibers Market | Reports and Data
Increasing demand for protective clothing from the military & defense, and industrial sectors are key factors driving market revenue growth

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, according to the latest report by Reports and Data. Growing automotive, aerospace, defense, and construction industries are among the key factors driving the market revenue growth. In addition, 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. Aramid fiber is also used for the production of stab-resistant and bullet-proof products, including gloves, helmets, and clothing material. 

Aramid fibers can be utilized for structural applications in various types of aircraft, including spacecraft, hot air balloons, passenger airlines, fighter planes, and space shuttles. Commercial flights are always innovating to improve performance and increase fuel efficiency as fuel prices increase. As aramid fiber is lightweight, it has been proposed as the best option for improving fuel efficiency. Consequently, the use of aramid fiber in airplanes is growing, as it provides both corrosion and impact resistance. It also offers temperature stability, as well as improved vision systems.

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Leading Players–  DuPont, Toray Industries, Inc., Hyosung Corporation, Kolon Industries Inc., China National Bluestar (Group) Co. Ltd, Teijin Limited, Kermel, Ibiden Co., Ltd., SRO Aramid (Jiangsu) Co., Ltd., and Yantai Tayho Advanced Materials Co., Ltd.

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.
  • 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.
  • Automotive segment accounted for 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.
  • Market in Europe is expected to register highest revenue share in 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.

Key Regional Markets Covered in the Report:

  • North America (U.S.A., Canada, Mexico)
  • Europe (Italy, U.K., Germany, France, Rest of Europe)
  • Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
  • Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Type Outlook (Revenue, USD Million; 2019-2030)

  • Para-Aramid Fiber
  • Meta-Aramid Fiber
  • Others

Spinning Process Outlook (Revenue, USD Million; 2019-2030)

  • Wet Spinning
  • Dry Spinning

Application Outlook (Revenue, USD Million; 2019-2030)

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

Frequently Asked Questions Addressed in the Report:

  • What is the estimated market revenue growth over the forecast period?
  • What are the major factors driving the global Aramid Fibers market revenue growth?
  • Which regional market is expected to account for the largest revenue share in the global Aramid Fibers market over the forecast years?
  • Which are the leading players in the global Aramid Fibers market?
  • What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?

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