The Market of Aramid Fiber is to grow at CAGR 8.2% by 2021

The new report of Stratview Research analyses the Aramid Fiber Market over the trend period from 2010 to 2015 and forecast period from 2016 to 2021. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.

Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
• Strategic segmentation
• Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Detailed Competitive Rivalry landscaping
• Market trend and forecast analysis
• Future Growth Boulevards

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The Global Aramid Fiber Market: Highlights
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 Growth Prognosis & its Drivers
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.

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.
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.
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.

Market 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.

Comprehensive Market Coverage
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This release was published on openPR.