The global aramid fiber market is expected to exhibit moderate growth during 2021-2026. Aramid fiber is a synthetic organic polymer, which is produced by spinning a liquid crystalline solution of long-chain polyamide in concentrated sulfuric acid. The molecules of this fiber are linked by strong hydrogen bonds that provide immense strength and resistance against abrasion, heat and organic solvents, along with a low melting point to the end product. It is majorly utilized for electrical insulation, producing protective clothing for firefighters, racers and military personnel, and heat shields in automotive and aerospace equipment. In the construction industry, aramid fiber is used for manufacturing fiber-reinforced concrete and corrosion-resistant thermoplastic pipes, which prolong the life of the pipeline and reduce the overall maintenance costs.
The growing automotive, aerospace, defense and construction industries are among the key factors driving the growth of the market. Furthermore, the growing demand for lightweight materials for personnel protective equipment that protect the wearer from physical, thermal, electrical and biological hazards, is also providing a thrust to the market growth. Aramid fiber is also used for the production of bullet-proof and stab-resistant products, including helmets, gloves and clothing material. Additionally, it is widely utilized for the manufacturing of products such as fishing and golf rods, bows, skis and wall materials of airplanes. The increasing industrialization and urbanization across the globe is another factor favoring the market growth. Rising urban migration is augmenting the construction of new infrastructural projects, which is catalyzing the demand for aramid fiber as an asbestos and steel substitute. Other factors, including extensive research and development (R&D) and emerging applications in the optical fiber industry, are projected to drive the market in the upcoming years. Looking forward, IMARC Group expects the global aramid fiber market to grow at a CAGR of around 5% during the forecast period (2021-2026).
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The report has also analysed the competitive landscape of the market with some of the key players being Teijin, DowDuPont, Yantai Tayho Advanced Materials Company, Hyosung Corporation, Toray Chemical Korea, Kolon Industries, Huvis, China National BlueStar Group Company, Taekwang Industrial, JSC Kamenskvolokno, Guangdong Charming Company, etc.
Key Questions Answered in This Report:
According to the estimates by IMARC Group, the global aramid fiber market is expected to witness a CAGR of 5% from 2021 to 2026.
The growing demand for lightweight materials with high tensile strength and heat resistance, across the automotive, aerospace, construction, and defense sectors is one of the key drivers for the global aramid fiber market.
Extensive R&D activities pertaining to the adaptability of aramid fiber in the optical fiber industry represent one of the key trends in the global aramid fiber market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halt of numerous construction activities, thereby limiting the demand for aramid fiber.
On the basis of the product type, the market has been bifurcated into meta-aramid fiber, para-aramid fiber and others. At present, para-aramid fiber exhibits a clear dominance in the market.
On the basis of the application, the market has been classified into protective fabrics, frictional materials, optical fibers, tire reinforcement, rubber reinforcement, composites and others. Currently, protective fabrics represent the largest segment.
Region-wise, the market has been divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.
The key companies in the global aramid fiber market are Teijin, DowDuPont, Yantai Tayho Advanced Materials Company, Hyosung Corporation, Toray Chemical Korea, Kolon Industries, Huvis, China National BlueStar Group Company, Taekwang Industrial, JSC Kamenskvolokno, Guangdong Charming Company, etc.
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