Aramid Fiber Market Predicted to grow at a CAGR of 5.78 billion By 2024 | Leading Market Players - Kermel Toray Chemical Korea Inc., E.I. du Pont de Nemours & Co., Kolon Industries Inc, Yantai Tayho Advanced Materials Co

Aramid Fiber Market Analysis Size, Growth rate and Overview:
According to our research report, the Aramid Fiber Market Size was projected to grow from USD 3.28 billion in 2018 to anticipate to reach USD 5.78 billion by 2024, at a CAGR of 9.9% during the forecast period 2018-2024.

Currently, aramid fibers are increasingly used in aerospace and defense, electronics and telecommunications, and electricity, among other industries, due to their various uses. Aramid fibers are synthetic high-performance fibers with molecules that are characterized by rigid polymer chains. These molecules are linked by hydrogen bonds, which enable the easy and efficient transfer of mechanical stress. Aramid fibers are distinguished from other synthetic ones by a number of characteristics such as good resistance to organic solvents, low flammability, high strength, non-conductivity, resistance to abrasion, no melting point, and good fabric integrity at high temperatures.

Browse details of 150 number of pages research report developed on Aramid Fiber Market Research Report @ https://www.researchcosmos.com/reports/aramid-fiber-market/29427742

Aramid Fiber Market Key Drivers, Challenges, and Opportunities:
Aramid fiber is a versatile product with low volatility and flexibility that makes it suitable for the construction, painting and textile industries. It is expected that the growing demand for aramid fibers in aerospace and defense applications will drive growth in this market worldwide. It is also expected that the growing automotive industry, which uses aramid fiber, will be a key driver for the growth of the market. In addition, the greater accessibility of raw materials should contribute even more to the overall growth of the market.

The high costs of raw materials and the change of the application market from developed to emerging countries are among the main obstacles to the growth of this market. In addition, the increase in production costs could also be another major obstacle to the global aramid fiber market. Manufacturing companies are focusing on the manufacture of innovative products, which should open new perspectives for the market in the coming years.

Ask Free Sample of the Report @ https://www.researchcosmos.com/request/aramid-fiber-market/29427742

Aramid Fiber Market – Regional Presence:
Europe was the main market for aramid fiber, which represented a market share of around 37% in 2017. In addition, in 2017, North America maintained the second largest market for aramid fibers with approximately 29% share. Asia-Pacific maintained around 23% of overall revenue. Asia Pacific is also expected to be the fastest growing market for aramid fiber in the near future. The markets in the Middle East, Africa and Latin America are backed by government rules and environmental factors. Brazil and South Africa are the emerging markets for aramid fiber in Latin America.

Some of the Key Players Profiled in this Aramid Fiber Market Report are:
Some of the major players of the world aramid fiber market include Kermel Toray Chemical Korea Inc., E.I. du Pont de Nemours & Co., Kolon Industries Inc., Yantai Tayho Advanced Materials Co., Hyosung Corporation, Teijin Limited, and SRO Aramid Co. Ltd., among others.

For any queries, inquire more @ https://www.researchcosmos.com/inquire/aramid-fiber-market/29427742

About Us:
Research Cosmos is a provider of standard and customized Industry research, business intelligence and consulting services across more than 100 domains in different industries of the world. We host the trending Industry reports of the world’s top-notch publishing companies, offering services to a wide range of customers from students to fortune 500 companies and discloses the hidden opportunities in every leading industry of the world.

Contact:
Kevin Stewart
kevin@researchcosmos.com
Global Sales Manager
Research Cosmos
www.researchcosmos.com
+1 888 709 8757
https://marketreportsweb.com/
https://acutemarketinsights.com/

This release was published on openPR.