Global Aramid Fiber Market to Reach US$ 5.0 Billion by 2032, Propelled by Significant Growth in Military and Defense Sector

November 28, 2022 | Chemical & Materials

According to the latest report by IMARC Group, titled “Aramid Fiber Market Report by Product Type (Meta-Aramid Fiber, Para-Aramid Fiber, and Others), Application (Protective Fabrics, Frictional Materials, Optical Fibers, Tire Reinforcement, Rubber Reinforcement, Composites, and Others), End-Use Industry (Aerospace and Defense, Automotive, Electronics and Telecommunication, Sports Goods, and Others), and Region 2024-2032”, the global aramid fiber market size reached US$ 3.9 Billion in 2023. Aramid fiber refers to a high-performance organic fiber that is made from aromatic polyamides. These fibers are manufactured from man-made molecules with relatively stiff polymer chains held together by hydrogen bonds, which effectively transfer mechanical stress, thus allowing low molecular weight chains to be used. The elastic modulus of aramid fiber is much greater than that of conventional polyamide fiber, offering superior mechanical properties than steel or glass fiber on an equal basis. The fiber has numerous excellent properties, including high strength, good abrasion resistance, and high resistance to organic solvents, as well as low flammability and nonconductivity. Several end-use industries use aramid fiber for reinforcement in composite materials, such as sports goods, aircraft, and military vehicles, as well as fabric in the production of fire safety garments or bulletproof jackets.

Global Aramid Fiber Market Trends:

The global market is majorly driven by the rising usage of lightweight and flexible materials in the manufacturing of protective armor and shields. This can be attributed to the increasing domestic and international conflicts resulting in considerable growth in the military and defense sector. In addition to this, the widespread adoption of advanced robotic systems and material handling equipment in warehousing is resulting in a higher product uptake. The rapid utilization of aramid fibers in developing lightweight aircraft and vehicles with high structural integrity is also providing an impetus to the market. Besides this, stringent government regulations promoting workplace safety are acting as a significant growth-inducing factor for the market. The market is further driven by the augmenting number of onshore and offshore drilling activities, along with the expanding shale oil and gas industry. The rapid product utilization as a substitute for fiberglass-reinforced plastic to avoid glass shatter and remnant debris during a crash in racing automobiles is further fueling the market. Apart from this, the expansion of 5G technology is propelling the demand for these fibers in the manufacturing of 5G cables, thereby creating a positive market outlook. Some of the other factors contributing to the market include considerable growth in the construction industry, continual technological developments and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 5.0 Billion by 2032, exhibiting a CAGR of 2.9% during 2024-2032.

Market Summary:

  • Based on the product type, the market has been segmented into meta-aramid fiber, para-aramid fiber, and others.
  • On the basis of the application, the market has been divided into protective fabrics, frictional materials, optical fibers, tire reinforcement, rubber reinforcement, composites, and others.
  • Based on the end-use industry, the market has been categorized into aerospace and defense, automotive, electronics and telecommunication, sports goods, and others.
  • On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players 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, and Guangdong Charming Company.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product Type, Application, End-Use Industry, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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 and Guangdong Charming Company
Customization Scope 10% Free Customization
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Global Aramid Fiber Market to Reach US$ 5.0 Billion by 2032, Propelled by Significant Growth in Military and Defense Sector
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