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DUBLIN , April 11, 2022 /PRNewswire/ -- The "Aramid Fiber Market by Type (Para-Aramid Fiber, Meta-Aramid Fiber), Application (Security & Protection, Frictional Materials, Industrial Filtration, Optical Fibers, Rubber Reinforcement, Tire Reinforcement), Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The aramid fiber market is projected to reach USD 6.3 billion by 2026, at a CAGR of 9.7% from USD 3.9 billion in 2021. The increased demand for lightweight and flexible materials from the automotive and military & defense industries for various applications is driving the market.
Furthermore, the regulations relating to reducing carbon emissions compel several industry players to look for alternative materials that are lightweight, strong, and fuel-efficient. This is expected to drive the aramid fiber market further during the forecast period. On the contrary, the high R&D costs and the non-biodegradable nature of aramid fibers are restraining the market growth.
The para-aramid fiber is the largest type of aramid fiber for aramid fiber market in 2020
Para-aramid fiber is primarily used in security & protection applications. The increased need for protective clothing in the military and industrial sectors is estimated to drive the para-aramid fiber market. However, meta-aramid fiber is estimated to witness substantial growth during the forecast period because of its increased usage in industrial filtration applications.
Security & protection is estimated to be the largest application of aramid fiber market between 2021 and 2026.
The security & protection application segment led the market in 2020. It is projected to maintain its leading position until 2026 because of the increasing demand from emerging economies such as China, Brazil , and India . They are primarily used for military, industrial, and civil purposes-the need for thermal and ballistic protection is rising in civil law enforcement and armed forces owing to increasing insurgency and terrorism.
Europe is expected to be the largest aramid fiber market during the forecast period, in terms of value.
Europe is the largest market for aramid fiber. Stringent safety regulations within industries such as oil & gas, construction, aluminum, and steel are fueling the demand for protective clothing, which is driving the aramid fiber market in Europe . Additionally, friction materials are required for high-end automotive as well as in other industrial sectors that also contribute to the growing aramid fiber market in the region.
4 Premium Insights 4.1 Attractive Opportunities in Aramid Fiber Market 4.2 Aramid Fiber Market, by Region 4.3 APAC: Aramid Fiber Market, By Application and Country, 2020 4.4 Aramid Fiber Market Size, by Application Vs. Region 4.5 Aramid Fiber Market, by Key Countries
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Increasing Demand for Lightweight Materials in Security & Protection Applications 5.2.1.2 Rising Need for Lightweight Materials Offering Significant Emission Reduction in Vehicles 5.2.1.3 Potential Substitute for Steel and Asbestos 5.2.2 Restraints 5.2.2.1 High R&D Costs 5.2.2.2 Non-Biodegradable Nature of Aramid Fibers 5.2.3 Opportunities 5.2.3.1 Increasing Demand for Homeland Security 5.2.3.2 Growing Aerospace and Defense Sector 5.2.3.3 Advancements in Aramid Materials Manufacturing Technology 5.2.4 Challenges 5.2.4.1 High Cost of Production 5.2.4.2 Available Alternatives with Similar Properties 5.3 Porter's Five Forces Analysis 5.4 Supply Chain Analysis 5.4.1 Raw Materials 5.4.2 Aramid Fiber Manufacturers 5.4.3 Distribution to End-Use Industries 5.5 Aramid Fiber Market: Realistic, Pessimistic, Optimistic, and Non-COVID-19 Scenarios 5.5.1 Non-COVID-19 Scenario 5.5.2 Optimistic Scenario 5.5.3 Pessimistic Scenario 5.5.4 Realistic Scenario 5.6 Technology Analysis 5.7 Trends/Disruptions Impacting Customer's Business 5.7.1 Revenue Shifts and Revenue Pockets for Aramid Fiber Manufacturers 5.8 Ecosystem/Market Map 5.9 Case Studies 5.9.1 A Case Study on Aramid Fiber Used for Lightweight Protective Racing Suits 5.9.2 A Case Study on Aramid Fiber Used for Flame-Resistant Comfort Wear 5.10 Tariff and Regulatory Landscape 5.11 Macroeconomic Indicators 5.12 Trade Data 5.13 Average Selling Price 5.14 COVID-19 Impact 5.15 Patent Analysis
6 Aramid Fiber Market, by Type 6.1 Introduction 6.2 Para-Aramid Fiber 6.2.1 Rising Demand for Protective Apparel Coupled with Growing Need from Aerospace Industry to Drive Market 6.3 Meta-Aramid Fiber 6.3.1 Growing Demand from Telecommunication and Automotive Industries to Drive Market
7 Aramid Fiber Market, by Application 7.1 Introduction 7.2 Security & Protection 7.2.1 Stringent Regulations Enforced by Government and Other Agencies in Developed Economies to Drive Market 7.3 Frictional Materials 7.3.1 Advancements in Technology in Transportation Industry to Drive Market 7.4 Industrial Filtration 7.4.1 Demand for High-Temperature Gas Filtration to Drive Market 7.5 Optical Fibers 7.5.1 Rise in Investments in Telecommunication to Drive Market 7.6 Rubber Reinforcement 7.6.1 Increasing Demand for Thermal Stability from Automotive and Industrial Sectors to Drive Market 7.7 Tire Reinforcement 7.7.1 Demand for Heavy-Duty Vehicles and Efficient Tires is Driving Market 7.8 Electrical Insulation 7.8.1 Demand for Insulation in Extreme Conditions to Drive Market 7.9 Others 7.9.1 Demand for High-Performance Materials from Transportation Industry to Drive Market 7.9.2 Composites 7.9.3 Aerospace 7.9.4 Recreational Goods 7.9.5 Ropes and Cables
8 Aramid Fiber Market, by Region
9 Competitive Landscape 9.1 Introduction 9.2 Strategies Adopted by Key Players 9.2.1 Overview of Strategies Adopted by Key Manufacturers of Aramid Fiber 9.3 Market Share Analysis 9.3.1 Ranking of Key Market Players, 2020 9.3.2 Market Share of Key Players 9.3.2.1 Dupont De Numerous, Inc. 9.3.2.2 Teijin Ltd. 9.3.2.3 Kolon Industries Inc. 9.3.2.4 Yantai Tayho Advanced Materials Co. 9.3.2.5 Toray Industries, Inc. 9.4 Revenue Analysis of Top 5 Players 9.5 Company Product Footprint Analysis 9.6 Company Evaluation Quadrant 9.6.1 Terminology/Nomenclature 9.6.1.1 Star 9.6.1.2 Emerging Leader 9.7 Start-Up/SMEs Evaluation Quadrant 9.7.1 Responsive Company 9.7.2 Dynamic Company 9.7.3 Starting Block 9.8 Competitive Situations and Trends 9.8.1 Product Launches 9.8.2 Deals 9.8.3 Other Developments
10 Company Profiles 10.1 Major Players 10.1.1 Teijin Ltd. 10.1.2 Dupont De Numerous, Inc. 10.1.3 Yantai Tayho Advanced Materials Co. 10.1.4 Hyosung Corp. 10.1.5 Toray Industries, Inc. 10.1.6 Kolon Industries Inc. 10.1.7 Huvis Corporation 10.1.8 Kermel 10.1.9 China National Bluestar (Group) Co. Ltd. 10.1.10 Sro Aramid (Jiangsu ) Co. Ltd. 10.2 Other Key Players 10.2.1 Taekwang Industrial Co. Ltd. 10.2.2 Aramid Hpm, LLC 10.2.3 Shanghai J&S New Materials Co. Ltd. 10.2.4 Jsc Kamenskvolokno 10.2.5 YF International Bv 10.2.6 Lydall Industrial Filtration Americas 10.2.7 Suzhou Zhaoda Specially Fiber Technical Co. Ltd. 10.2.8 Shenma Industrial Co. Ltd. 10.2.9 Sinopec Yizheng Chemical Fiber Co. Ltd. 10.2.10 Gangying Industry 10.2.11 Veplas Advanced Technologies Group 10.2.12 Pro-Systems Spa 10.2.13 X-Fiper New Material Co. Ltd. 10.2.14 Wuxi Heshengyuan Carbon Fiber Technology Co. Ltd. 10.2.15 Barnet Intelligent Materials
11 Adjacent & Related Markets 11.1 Introduction 11.2 Limitation 11.3 Protective Clothing Market 11.3.1 Market Definition 11.3.2 Market Overview 11.4 Protective Clothing Market, by Region 11.4.1 APAC 11.4.2 Europe 11.4.3 North America 11.4.4 Middle East and Africa 11.4.5 South America
For more information about this report visit https://www.researchandmarkets.com/r/l5pajv
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