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We expect the global aramid fiber market to exhibit a CAGR of around 5% during 2021-2026.
The global market for aramid fiber experienced a negative impact on account of the sudden outbreak of COVID-19 due to the implementation of stringent lockdown regulations resulting in disrupted product supply chains and temporary halt of numerous construction activities.
The growing demand for lightweight materials with high tensile strength and heat resistance, across the automotive, aerospace, construction, and defense sectors, represents one of the factors driving the global aramid fiber market.
Based on the product type, the global aramid fiber market has been divided into meta-aramid fiber, para-aramid fiber, and others, where para-aramid fiber currently accounts for the largest segment.
Based on the application, the global aramid fiber market can be segmented into protective fabrics, frictional materials, optical fibers, tire reinforcement, rubber reinforcement, composites, and others. Among these, protective fabrics hold the largest market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.
Some of the major players in the global aramid fiber market include Teijin, DuPont de Nemours Inc., 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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