Global Aramid Fiber Market Outlook 2018-2023

Global Aramid Fiber Market is expected to witness a massive growth in the forecast period. The synthetic high-performance fibers that consist of molecules and are described by rigid polymer chains are aramid fibers. These molecules are basically allied by hydrogen bonds, which later transfer’s mechanical stress effortlessly. Aramid fibers are notable from other synthetic fibers due to numerous characteristics such as low flammability, good resistance to organic solvents, high strength, good resistance to abrasion, non-conductivity, no melting point, and good fabric veracity at raised temperatures.

The aramid fiber market has witnessed an upsurge for industrial protective clothing due to the key properties linked with these fibers such as enormous strength, resistance to wear and tear and high resilience. This one of the key dynamics that is helping the aramid fiber market to experience growth tremendously. In addition to this, these fibers are used as a substitute for reinforced concrete for some curtain walls of a multistoried building. They are also used as a key composite material in bows, skis, fishing rods, golf clubs and other commodities. Looking at its demand, investors have started investing in their R&D activities and this is encouraging the manufacturers to come up with some innovations. This will aid the aramid fiber market to witness major progress during the estimated time span. 

The aramid fiber market is segmented on the basis of product (para-aramid, meta-aramid, others); by application (security & protection, frictional materials, rubber reinforcement, optical fibers, tire reinforcement, electrical insulation, aerospace, others) and by region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa). 

Considering the growth of the product, para-aramid fiber is anticipated to play a major role in the market and will hold the largest market share in the estimated time span. Owing to its advantages such as rigid molecular structure and high strength will drive the protection and security application. Also, the meta-aramid segmented is projected to register the highest CAGR in terms of value between the forecast tenure. The reason behind its development is the technological advancements in the transportation industry that is driving the meta-aramid segment. 

Geographically, Europe is estimated to hold the largest share in the market in terms of value during the forecast period. This region’s growth is supported by the rise in environmental and regulations of the government in the defense and automotive industries. Followed by this, North America is expected to witness decent progress in the forthcoming years. In the near future, the aramid fiber market will continue to come up with some extraordinary product innovations to attract new consumers and investors, for them to continue the domination.

Some of the prominent key players profiled in the aramid fiber market report are Huvis Corp., SRO Aramid (Jiangzu) Co. Ltd., Teijin Ltd., Toray Chemicals South Korea Inc., Kolon Industries Inc., Hyosung Corp., China National Bluestar (Group) Co. Ltd., Yantai Tayho Advanced Materials Co., Kermel and E. I. Dupont Nemours & Co. All the leading companies are including mergers and acquisitions, partnerships and joint ventures to enhance the growth of the market efficiently.

Global aramid fiber market is anticipated to grow at a CAGR of 7.56% by 2023, according to a new report published by Gen Consulting Company. The report segments the market and forecasts its size, by volume and value, on the basis of application, by products, and by geography (North America, Europe, Asia-Pacific, MEA and South America).

The Global Market for aramid fiber to 2023 offers detailed coverage of aramid fiber industry and presents main market trends. The market research gives historical and forecast market size, demand and production forecasts, end-use demand details, price trends, and company shares of the leading aramid fiber producers to provide exhaustive coverage of the aramid fiber.

Report contents include
- Analysis of the aramid fiber market including revenues, future growth, market outlook
- Historical data and forecast
- Regional analysis including growth estimates
- Analyzes the end user markets including growth estimates.
- Profiles on aramid fiber including products, sales/revenues, and market position
- Market structure, market drivers and restraints.

Key regions
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America

Key vendors
- DowDuPont Inc.
- Teijin Limited
- Yantai Tayho Advanced Materials Co., Ltd.
- X-FIPER New Material Co., Ltd
- Kolon Industries, Inc.
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