The new report by Expert Market Research titled, ‘Global Aramid Fibre Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global aramid fibre market, assessing the market based on its segments like types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 8.5%
The global market for aramid fibres is expected to be driven by uses in multiple sectors, including defence, automotive, aerospace, and personal protection, among others. The growing demand for lightweight materials for personnel protective equipment that protects the wearer from physical, biological, thermal, electrical hazards is also providing a thrust to the market growth. Aramid fibre is also used for the production of bullet-proof and stab-resistant products, including helmets, gloves, and clothing material. Additionally, it is widely utilised for the manufacturing of products, such as fishing and golf rods, bows, skis, and wall materials of aeroplanes. Various properties, such as superior corrosion, humidity, and heat resistance in extreme environments are expected to drive the demand for para-aramid fibres in the near future.
Aramid Fibre Industry Definition and Major Segments
Aramid fibre is an organic synthetic polymer made by spinning a liquid crystalline solution of long-chain polyamide in strong sulfuric acid. Strong hydrogen bonds connect the molecules of this fibre, giving it incredible strength and resilience to abrasion, heat, and chemical solvents, along with a low melting point in the end product.
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By type, the market is segmented into:
• Meta-Aramid Fibre
• Para-Aramid Fibre
By application, the market is divided into:
• Optical Fibres
• Frictional Materials
• Security and Protection
• Industrial Filtration
• Tyre Reinforcement
• Rubber Reinforcement
• Others
On the basis of region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Aramid Fibre Market Trends
The increasing industrialisation and urbanisation across the globe is a major factor favouring the market growth. The need for aramid fibre as an asbestos and steel alternative is being catalysed by rising urban migration, which is enhancing the construction of new infrastructure projects. In the coming years, other factors, such as significant research and development (R&D) and growing applications in the optical fibre industry are expected to drive the market. Industry players have been striving to improve their cost competitiveness by increasing productivity and manufacturing capacities with the automation of production processes. Rising defence investments by various nations will drive the aramid fibres demand in safety applications.
Key Market Players
The major players in the market are Teijin Limited, DuPont de Nemours, Inc., Huvis Corporation, Shenma Industrial Co., Ltd., Kolon Industries, Inc., and Kermel, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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