Aramid Fiber Market to experience an impressive growth of 8.2% during 2016-2021

Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Aramid Fiber Market, answers all the important questions.

Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Aramid Fiber Market.

The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2016-2021.
The important questions the report answers are:
1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?

These questions and many more, big and small, are all discussed in the report in great detail.

The Global Aramid Fiber Market: Highlights
The global aramid fiber market offers very strong growth opportunity and is foreseen to grow at 8.2% CAGR during the forecast period of 2016 to 2021. Increasing automotive production, rising concerns of military personnel protection, stringent regulations such as OSHA regarding safety of workers, and need for strong and durable cables in the telecommunication industry are the major drivers of growth for aramid fiber market.

Para-aramid fiber is expected to remain the largest fiber type during the forecast period, driven by increasing demand in aerospace & defense and automotive industries. Para-aramid fiber offers high strength to weight ratio and better insulation properties that makes it a suitable fiber for use in electronics, automotive and aerospace & defense industries. It is the best suited material for protective fabrics based applications, such as helmets, bullet proof jacket vests, and vehicle armor.

The strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.

Dissection by Segments
• By Fiber Type : Para-Aramid Fiber and Meta-Aramid Fiber
• By Application Type : Protective Fabrics, Frictional Materials and Others
• By End Use Industries Type : Aerospace and Defense, Automotive and Others
• By Region : North America, Europe, Asia-Pacific, and RoW

Get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/165/aramid-fiber-market.html

Market Segments
Meta-aramid fiber is also expected to witness healthy growth during the forecast period driven by increasing penetration of honeycomb panel based composite structures in aerospace & defense industry and growing demand for thermal protective apparels.

Protective fabrics is the most dominant application of aramid fiber globally. Aramid fiber is highly suitable for fire-resistant and stab-resistant protective fabrics and is mainly used to manufacture helmets, bullet proof jacket vests, vehicle armor, footwear, and gloves for various industries, such as military and industrial. Strict regulations in developed countries such as the US, Germany, and the UK and rising concerns for protection of military personnel and industrial workers are some of the factors driving the aramid fiber demand in the protective fabrics market.

Optical fiber segment is expected to exhibit the highest growth during the forecast period, driven by increasing demand for strong and durable cables in the telecommunication industry. Reasonably good growth is also expected in the composites applications driven by increasing usage of aramid fiber in structural applications in the aerospace & defense and automotive industries.

Automotive and aerospace & defense are expected to remain the key end use industries in the global aramid fiber market during the forecast period. Increasing vehicle production, increasing usage of composites, and rising concern of protection of military personnel are fueling aramid fiber growth in the automotive and aerospace & defense industries.

Europe was estimated to be the largest aramid fiber market in 2015 and is expected to witness healthy growth in the next five years. Increasing automotive production and strict regulations regarding protection of workers in metal (steel & aluminum), energy (oil & gas), transportation (automotive and commercial vehicle), and building & construction industries in developed European countries, such as Germany, France and the UK are major growth drivers of aramid fiber in the region. The rising demand of aramid fibers in electrical insulation purpose and growing composites market are some of the additional growth drivers in the market.

Asia-Pacific region is likely to witness fastest growth during the forecast period. The increasing automotive production and rising demand of strong and durable cables in the telecommunication industry, mainly in China and India, are the major growth drivers in Asia-Pacific region. Additionally, the upcoming commercial, regional, and military aircraft in China, Japan, and India are likely to substantiate the growth of aramid fiber in coming years.

Players
The supply chain of this market comprises raw material suppliers, aramid fiber manufacturers, product manufacturers, distributors, and OEMs. The key aramid fiber manufacturers are E. I. DuPont Nemours & Co., Teijin Limited, Hyosung, Yantai Tayho Advanced Materials Co., and Toray Chemical South Korea Inc.

New product development, regional expansion, and strategic alliances are the key strategies adopted by the major players to gain competitive edge in the market.

Click Here for Other Reports from Stratview Research in the Advanced materials Industry:
https://www.stratviewresearch.com/market-reports/Advanced-Materials.html

Stratview Research
400 Renaissance Center,
Suite 2600,
Detroit, Michigan, MI 48243
United States of America
Phone No. +1-313-307-4176
sales@stratviewresearch.com

Stratview Research is a global market intelligence firm offering a wide range of services including syndicated market reports, consulting, sourcing intelligence, and customer research. We are a trusted brand in the research industry with capability of commissioning complex projects within a short span of time with high level of accuracy.

This release was published on openPR.