The latest report by IMARC Group, titled “Aramid Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the Aramid Fiber Market Share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global aramid fiber market size reached US$ 3.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.6 Billion by 2028, exhibiting a growth rate (CAGR) of 3.3% during 2023-2028. Aramid fiber, popularly known as aromatic polyamide, represents a class of robust synthetic fibers that are derived by spinning liquid crystalline solutions of long-chain polyamide in concentrated sulfuric acid. They are available in several types, such as meta-aramid fiber, para-aramid fiber, and others. The molecules of these aramid fiber variants are linked by strong hydrogen bonds that offer immense strength and resistance against abrasion and heat. They prove highly effective as heat shields in automotive and aerospace equipment and in offering electrical insulation, producing protective clothing for firefighters and military personnel, etc. Consequently, aramid fiber categories find extensive applications across various sectors, including aerospace and defense, construction, automobile, electronics, telecommunication, etc.
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Global Aramid Fiber Market Growth:
The growing construction industry and the elevating need for fiber-reinforced concrete and corrosion-resistant thermoplastic pipes and adequate substitutes for asbestos and steel are primarily driving the aramid fiber market. Besides this, the shifting preferences toward lightweight materials for personnel protective gear that safeguards the wearer from physical, electrical, thermal, and biological hazards are also positively influencing the global market. Additionally, the escalating product usage in the manufacturing of bullet-proof and stab-resistant products that include helmets, gloves, and clothing materials is acting as another significant growth-inducing factor. Apart from this, the rising demand from the aerospace industry to produce wall materials for airplanes is further catalyzing the global market. Moreover, the expanding research and development (R&D) activities and the increasing utilization of the product in the optical fiber segment are anticipated to augment the aramid fiber market in the coming years.
Competitive Landscape with Key players:
The report has also analyzed 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
Also, Read the Full Blog: Top Aramid Fiber Manufacturer Worldwide
Key Market Segmentation:
Breakup by Product Type:
- Meta-Aramid Fiber
- Para-Aramid Fiber
- Others
Breakup by Application:
- Protective Fabrics
- Frictional Materials
- Optical Fibers
- Tire Reinforcement
- Rubber Reinforcement
- Composites
- Others
Breakup by End-Use Industry:
- Aerospace and Defense
- Automotive
- Electronics and Telecommunication
- Sports Goods
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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