Global Aramid Fiber Market Projected to touch US$ 5,099.1 million by 2023

In order to study the various trends and patterns prevailing in the overall market for Aramid Fiber, Market Research Reports Search Engine (MRRSE) has included a new report titled “Aramid Fiber Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. Readers can access the regional as well as segment-wise analysis for acquiring precise information about the global market structure.

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Buoyed by growth in the automotive industry and an uptick in the demand for protective clothing, the global aramid fiber market is expected to report a high single-digit CAGR between 2015 and 2023, says a latest report by MRRSE. The report, titled ‘Aramid Fiber Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023’ says that the valuation of the market was US$ 2,598.2 million as of 2014 and will rise to US$ 5,099.1 million by 2023.

This translates to a 7.8% CAGR from 2015 to 2023 for the global aramid fiber market.This synthetic polymer, which is obtained via a reaction between the amine group and arboxylic acid halide group, is widely applied in industrial products and operations. Automotive components, electrical components, protective clothing, and body armor are just a few examples of the applications of aramid fiber.

The report segments the global aramid fiber market on the basis of product type, en-users, and geographic regions. Segmented thus, the aramid fiber market by products is classed into meta-aramid fiber and para-aramid fiber. The para-aramid fiber segment led the global aramid fiber market as it witnesses massive demand from industries such as automotive, defense, and aerospace. This factor plays a crucial role in making the para-aramid fiber segment the largest in the global aramid fiber market. With a market share of over 70%, the para-aramid fiber segment was not only the largest in 2014, but is also expected to remain the fastest-growing over the forecast period of this report.

Likewise, based on end-users, the following segments have been created: Automotive, aerospace and defense, electronics and telecommunications, electrical, and others. MRRSE analysts say that about 35% of all aramid fiber produced was consumed by the automotive segment in 2014, making this the largest end-user segment globally. The automotive segment will report a healthy growth rate over the report’s forecast period. However, in terms of rate of growth, the electrical end-use segment is expected to emerge as the fastest with an 8.3% CAGR from 2015 to 2023in revenue terms. The global aramid fiber market will continue to see a progressive increase in demand from the automotive and industrial protective clothing end-use industries.

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The report provides the market size of aramid fiber for 2014 and forecast for the next eight years. The global market size of aramid fiber is provided in terms of both volume as well as revenue. Market volume is defined in tons, while market revenue is in US$ Mn. Market numbers are estimated based on key product segments and end-user segments of aramid fiber. Market size and forecast for each major product and end-user is provided in terms of global and regional markets.

In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights and recognizing business opportunities.

Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, Plastemart magazine, TPE magazine, internal and external proprietary databases, and relevant patent and regulatory databases such as ICIS, Hoovers, oneSOURCE, Factiva, and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market.

Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen the secondary research findings. These also help develop the analysis team’s expertise and market understanding.

The report segments the global aramid fiber market as:

Aramid Fiber Market: Product Analysis

Para-aramid fiber
Meta-aramid fiber

Aramid Fiber Market: End-user Analysis

Aerospace & defense
Automotive
Electrical
Electronics & telecommunication
Others (including construction)

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