Aramid Fibre Market to represent a significant expansion at 5.4% CAGR by 2023

Global industry analysis

The Aramid Fibre Market is projected to grow at a CAGR of 5.4% during the forecast period from 2020-2023. Aramid fibres are heat resistant and have superior mechanical strength, which makes them ideal for use in a range of industrial applications from automotive parts to aerospace components.

In the field of high performance engineered fibers used in a variety of industries including aerospace and automotive, aramid fibers are rapidly gaining popularity. Solid fibers formed from a liquid chemical mixture are spun to produce aramid fiber, a man-made organic fiber.

Compared to other synthetic fibers, aramid has 5-10% better mechanical properties such as strength and tensile modulus. In high performance applications such as offshore oil rig ropes and body armor, these grades are replacing wire rope and inorganic fibers.

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There are many types of aramid in the global market, which can be classified into para-aramid, meta-aramid and other customized solutions to meet the good demand of end users in various industries.

Para-aramid lacks fatigue strength, low compressive strength but high tensile strength, low elongation at break and excellent chemical resistance, making it suitable for strong composite parts. . On the other hand, meta-aramid has excellent heat resistance properties that can be used in various applications such as gaskets and jet engine casings.

The global market for aramid fibers is growing rapidly due to their increasing use in various industries such as automobiles and apparel. Some of the key factors identified are the growing demand for aramid fibers for fiber reinforcement and safety applications. Additionally, macroeconomic factors such as GDP growth and rising income levels are driving the growth of the global aramid fiber market. However, the high cost of materials and competition from alternative products can pose some significant challenges to the growth of the global aramid fiber market.

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Market segmentation

• By product type
• Para-aramid
• Meta-aramid
• Others (Nylon, Vectran, etc.)

End use
• Protection and safety
• Glass fiber
• Tire reinforcement
• Electrical insulation
• Rubber reinforcement
• Rope and cable
• Composition
• Other apps

Geographically
• North America
• South America
• Eastern Europe
• Eastern Europe
• Pacific Asia
• Japan
• Middle East and Africa

The global aramid fiber market is expected to grow at a considerable rate during the forecast period 2015 to 2025. Emerging countries like India and China are expected to boost demand for the aramid fiber market due to increasing manufacturing of various products like automobiles. components and sportswear.

Among the product type segments, the para-aramid segment dominated the global aramid fiber market in 2014 and is expected to expand at the highest CAGR during the forecast period. The growing communications infrastructure is expected to drive the fiber end-use segment faster than the rest of the end-use applications.

As of 2014, Asia Pacific dominates the global aramid fiber market, followed by North America and Europe. On the other hand, the BRIC countries are forecast to grow at a higher CAGR compared to other countries in the region.

The major players in the global aramid fiber market include EI Dupont de Nemours, Yantai Tayho Advanced Materials Co. Ltd., Teijin Limited, Hyosung Corporation, Kolon Industries (Korea) and Toray Chemical Korea Inc.

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