Aramid Fiber Market 2023 - Size, Share, Segments, Drivers, Research, And Forecast
As per the aramid fiber market report by The Business Research Company, the rising need for lightweight materials offering significant emission reduction in vehicles is contributing to the growth of the aramid fiber market.
The global aramid fiber market size grew from $4.33 billion in 2022 to $4.83 billion in 2023 at a compound annual growth rate (CAGR) of 11.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aramid fiber market size is expected to grow to $6.89 billion in 2027 at a CAGR of 9.3%.
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Major competitors in the aramid fiber market include Teijin Ltd., DuPont De Numerous Inc., Yantai Tayho Advanced Materials Co. Ltd., Hyosung Corp., Toray Industries Inc., Kolon Industries Inc., Huvis Corporation, Kermel, China National Bluestar (Group) Co. Ltd., SRO Aramid Co. Ltd., JSC Kamenskvolokno, X-FIPER New Material Co. Ltd., Toyobo Co. Ltd., Taekwang Industrial, Jiaxing Newtex Composites Co. Ltd., Guangdong Charming Company, Bally Ribbon Mills, Coats Group plc, Vectorply, and Solvay.
The aramid fiber market is segmented -
• By Type: Para-Aramid Fiber, Meta-Aramid Fiber
• By Application: Protective Fabrics, Frictional Materials, Optical Fibers, Tire Reinforcement, Rubber Reinforcement, Composites, Other Applications
• By End-Use Industry: Aerospace And Defense, Automotive, Electronics and Telecommunication, Sports Goods, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the aramid fiber market in 2022.
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Aramid fibre refers to a long-chain synthetic polyamide fibre made of synthetic linkages that are at least 85% directly connected to two aromatic rings. Aramid fibre is mostly used for reinforcement in composites such as sports goods, aviation, and military vehicles, as well as fabrics in apparel such as fire safety garments or bulletproof jackets.
The Table Of Content For The Aramid Fiber Market Include:
1. Executive Summary
2. Aramid Fiber Market Characteristics
3. Aramid Fiber Market Trends And Strategies
4. Aramid Fiber Market - Macro Economic Scenario
5. Aramid Fiber Market Size And Growth
6. Aramid Fiber Market Segmentation
26. Africa Aramid Fiber Market
27. Aramid Fiber Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Aramid Fiber Market
29. Aramid Fiber Market Future Outlook And Potential Analysis
The "Global Aramid Fiber Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies aramid fiber and camperificant trends and strategies that companies can leverage for business expansion.
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