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Global Aramid Fiber Market Set for Rapid Growth During 2017 - 2026

10-27-2018 09:58 AM CET | Industry, Real Estate & Construction

Press release from: Polaris Market Research & Consulting

Aramid Fiber Market

Aramid Fiber Market

Global Aramid Fiber Market [By Type (Para Aramid Fiber, Meta Aramid Fiber, Other Aramid Fiber); By Application (Aerospace, Automotive, Telecommunication, Security and Protection, Frictional Materials, Others)], and Geography - Trend, Analysis and Forecast, 2017-2026

The global aramid fiber market is gaining traction due to the growing demand for higher fuel efficiency and increasing need for security. Aramid fiber is a synthetic high-performance fiber with rigid polymer chains molecules. It is a polyamide with its amide groups separated by para-phenylene groups. Aramid fiber offers features such as high strength, low flammability, resistance to abrasion, no melting point, and no conductivity. This fiber offers very high thermal resistance and does not melt or catch fire at a common level of oxygen. It has a very stable chemical structure and is extremely resistant to organic solvents. This fiber is used for varied applications such as automotive, aerospace, protective clothing, composites, telecommunication, and ballistics among others. This fiber is also used as a substitute for asbestos, excess of which causes lung diseases.

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Increasing demand for increased fuel efficiency and growing use as a replacement to asbestos boosts the Aramid Fiber market
The rising protective measures taken worldwide for enhanced safety and security have increased the demand for aramid fiber. Use of aramid fiber as substitute for substances such as asbestos, which if used in excess quantities cause diseases, has supported the market growth. Additionally, increasing use of aramid fiber in automotive and aerospace sectors augments market growth. Technological advancements in automotive sectors, and growing applications of aramid fiber is expected to accelerate its adoption worldwide.

However, high production cost, and non-biodegradable nature are some of the factors hampering the global market.

Global Aramid Fiber Market Taxonomy

The global Aramid Fiber market is segmented on the basis of product type, application, and geography.

By Product Type
• Para Aramid Fiber
• Meta Aramid Fiber
• Other Aramid Fiber

By Application
• Aerospace
• Automotive
• Telecommunication
• Security and Protection
• Frictional Materials
• Others

Geographically, the global Aramid Fiber market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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The rising demand for protective clothing and presence of established automotive industry boost the growth in Europe
On the basis of geography, Europe is expected to dominate the global market over forecast period. The increasing demand for protective clothing drives the growth of aramid fiber market in this region. Various industries have mandated the use of protective clothing for safety of personnel, thereby supporting market growth. Stringent government regulations regarding safety and security also boost the adoption of aramid fiber. The presence of established automotive and aerospace sectors also augments the growth of aramid fiber market in the region. Increasing demand from the aerospace sector is expected to provide growth opportunities in the region during the forecast period.

Key players in the global Aramid Fiber market are:

• Kolon Industries Inc.
• Toray Chemicals South Korea Inc.
• China National Bluestar (Group) Co. Ltd.
• Teijin Ltd.
• E. I. Dupont Nemours & Co.
• Yantai Tayho Advanced Materials Co.
• Hyosung Corp.
• Huvis Corp.
• SRO Aramid (Jiangzu) Co. Ltd.
• Kermel

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About us Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.

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