Aramid Fiber Market 2020 Will Grow at Significant CAGR of 10.20% by 2027 With Global Players - DowDuPont, TEIJIN LIMITED, TORAY INDUSTRIES INC., HYOSUNG

Market Insights
Global Aramid Fiber Market is set to rise from its initial estimated value of USD 3.19 billion in 2018 to an estimated value of USD 6.95 billion by 2026, registering a CAGR of 10.20% in the forecast period of 2019-2026. This rise in market value can be attributed to their unique properties and wide variety of applications in a number of industries.
Aramid fiber is a synthetic fiber, whose characteristics include heat resistance, strength, light-weight in nature. These characteristics help in their applications in a number of different products, and as substitute to steel and asbestos. Its main applications can be found in aerospace & defense, security (body armor), and others.
According to CIRFS European Man-Made Fibres Association, China was the largest producer of fibre (45458 kiloton) worldwide followed by India (5666 kiloton), this trend of production of fibre from the south asia region is expected to continue into the forecast period and the production of fibre is expected to be dominated by the asia-pacific region.

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Major Market Players Covered in the Aramid Fiber Market Are:
Few of the major market competitors currently working in the aramid fiber market are DowDuPont, TEIJIN LIMITED, TORAY INDUSTRIES INC., HYOSUNG, Kolon Industries Inc., Huvis, Yantai Tayho Advanced Materials Co.Ltd., Solvay, KERMEL, China National Bluestar (Group) CoLtd., TAEKWANG Industrial Co. ltd., Aramid Hpm LLC, FIBERMAX COMPOSITES, Bally Ribbon Mills, BlackSun Partners, Clarasonic.com, c-m-p gmbh, Coast-Line International, Composites One, Coats Group plc, Voith GmbH & Co. KGaA, and Vectorply.

Market Drivers:
• Increased need for lightweight and effective material from the defense and security industry is expected to drive the market growth
• Due to their unique and benefitting capabilities they can be used as a substitute for steel, with their characteristics as being cheaper and stronger than steel on an average. This factor is expected to drive the market growth
Market Restraints:
• High cost for research and development and any advancements in the market is expected to restrain the market growth
• Due to the non-biodegradable nature of these fibers, the market growth is expected to be restrained

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Global Aramid Fiber Market Scope and Market Size

• By Type
o Para-Aramid Fiber
o Meta-Aramid Fiber

• By Application
o Security & Protection
o Frictional Materials
o Industrial Filtration
o Optical Fibers
o Rubber Reinforcement
o Tire Reinforcement
o Electrical Insulation
o Others

Regional Analysis
• Middle East and Africa
• North America
• South America
• Europe
• Asia-Pacific

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Strategic Points Covered in Table of Content of Global Aramid Fiber Market:
1. Introduction
2. Market Segmentation
3. Market Overview
4. Executive Summary
5. Premium Insights
6. By Component
7. Product Type
8. Delivery
9. Industry Type
10. Geography
11. Company Landscape
12. Company Profiles
13. Related Reports

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