The latest report by IMARC Group, titled “Aramid Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” finds that the global aramid fiber market size reached US$ 3.5 Billion in 2019. Aramid fibers are a class of high-performance organic polymers made up of aromatic polyamides. They comprise rigid polymer chains that provide these fibers their characteristic high strength-to-weight ratio, abrasion resistance, and structural rigidity. On account of these favorable properties, aramid fibers have gained preference as a raw material in the manufacturing of products such as fishing and golf rods, bows, skis and wall materials of airplanes.
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Global Aramid Fiber Market Trends:
Aramid fibers offer low flammability, resistance against heat and organic solvents, and can be made waterproof when combined with other materials like epoxy. Owing to these properties, they are utilized in an array of equipment, ranging from body armor, fire protection clothes and bulletproof vests to vehicle armor, military helmets, protective gloves, and fireproof suits for firefighters. In the construction industry, the demand for aramid fibers has escalated as they are employed in the manufacturing of fiber-reinforced concrete and corrosion-resistant thermoplastic pipes, which help in extending the life of the pipeline and reducing the overall maintenance costs. Other than this, they are used in the production of aerospace components, such as primary wings, fuselage structures in new-generation aircraft, trailing edge panels and landing gear doors. Moreover, the leading manufacturers are engaging in extensive research and development (R&D) activities to produce high-quality aramid fibers at a lower cost. Owing to these factors, the market value is projected to reach US$ 5.7 Billion, exhibiting a CAGR of around 8% during 2020-2025.
- Based on the product type, the market has been segmented into meta-, para-, and other aramid fibers.
- On the basis of the application, the market has been categorized into protective fabrics, frictional materials, optical fibers, tire reinforcement, rubber reinforcement, composites and others.
- The market has been divided based on the end use industry into aerospace and defense, automotive, electronics and telecommunication, sports goods and others.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, Indonesia, South Korea, Australia and others), Europe (Germany, France, the United Kingdom. Russia, Spain, Italy and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Teijin limited, DuPont de Nemours, Inc., Yantai Tayho Advanced Materials Co., Ltd., Hyosung Corporation, Toray Industries, Inc., Kolon Industries, Inc., Huvis Corporation, China National Bluestar Group Co, Ltd., Taekwang Industrial Co. Ltd., JSC Kamenskvolokno and Guangdong Charming Co., Ltd.
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