Aramid Fiber Market Size in 2023 To 2029 | Teijin Limited (Japan), DuPont de Numerous, Inc. (US), Yantai Tayho Advanced Materials Co., Ltd. (China), Hyosung Corporation (South Korea), Toray Industries, Inc. (Japan), Kolon Industries Inc. (South Korea), Hu

The report offers a detailed measurement of the drivers, development, and prospects that have a direct impact on the Aramid Fiber Market. The market study contains an in-depth analysis of the international Aramid Fiber Market based on the key boundaries that take in the drives, sales inquiry, market limits & share. The report more highlights assessing the market size of four key regions, namely North America, Europe, Asia-Pacific, and Rest of World. The research study is considered to guide the readers with an intensive valuation of the current industry trends and breakdown. The report spans the global Aramid Fiber market research data of different companies, benefits, gross margin, calculated decisions of the worldwide market, and more through tables, charts, and infographics. Other significant aspects studied in this report include demand and supply dynamics, import & export scenarios, R&D development activities, industry developments, and cost structures. In addition, consumption demand and supply figures, cost of production, and selling price of products are also estimated in this report.

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The key market players illustrated in the report include Teijin Limited (Japan), DuPont de Numerous, Inc. (US), Yantai Tayho Advanced Materials Co., Ltd. (China), Hyosung Corporation (South Korea), Toray Industries, Inc. (Japan), Kolon Industries Inc. (South Korea), Huvis Corp. (South Korea), Kermel (France), China National Bluestar (Group) Co., Ltd. (China), and X-FIPER New Material Co., Ltd. (China).

This report will help new entrants or stakeholders to acknowledge the complete market dynamics. Aramid Fiber market report examines the competitive scenario along with the future market landscape with the help of various restrictions such as Porter's five forces and parent/peer market. Consider the portfolios of the key market players working in the market united with the complete detailed study of the products and services they offer. This report will help readers understand the impact of government rules during the Covid-19 pandemic and estimate the market throughout the global pandemic. The Global Aramid Fiber Market also spotlights the main players working in the sector. Their product portfolio, business policies, company profiles, and revenue share are also thoroughly described in the report. In the end, the study defines the strategies such as partnership, development, collaboration, joint projects, and others executed by the leaders to enhance their status in the sector.

"lightweight and flexible materials from the automotive and military & defense industries helps to growth the aramid fiber market"

The aramid fiber market is poised for significant growth, with a projected value of USD 7.6 billion by 2028, exhibiting a robust CAGR of 9.9% from its 2023 value of USD 4.7 billion. This growth is primarily attributed to the escalating demand for lightweight and flexible materials, particularly in the automotive and military & defense sectors. These industries are increasingly seeking versatile materials for diverse applications. Furthermore, stringent regulations aimed at carbon emissions reduction are compelling industry stakeholders to explore alternatives that are not only lightweight and durable but also fuel-efficient. This trend is expected to propel the aramid fiber market even further in the forecast period. However, it's important to note that the high costs associated with research and development, as well as the non-biodegradable nature of aramid fibers, pose challenges to market growth.

"The para-aramid fiber was the largest type in aramid fiber market in 2022, in terms of value"

The para-aramid fiber segment finds its primary application in security and protection, driven by the growing demand for protective attire in both military and industrial settings. Meanwhile, the meta-aramid fiber sector is expected to experience notable expansion in the forecasted period, largely attributed to its increasing use in industrial filtration applications. This diversification in applications within the aramid fiber market presents promising opportunities for business growth and innovation.

"Security & protection is projected to be the largest application of aramid fiber market during the forecasted period"

The security and protection segment asserted its dominance in the market throughout 2022 and is expected to sustain its leadership position until 2028. This enduring prominence is underpinned by the surging demand emanating from emerging economies like China, Brazil, and India. These economies are pivotal consumers, employing aramid fibers for various military, industrial, and civil applications. The escalating need for thermal and ballistic protection in civil law enforcement and armed forces, driven by the rising challenges of insurgency and terrorism, further reinforces the segment's market leadership, heralding significant growth potential in this domain.

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Reasons to buy this report

This research report is focused on various levels of analysis - industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the aramid fiber market; high-growth regions; and market drivers, restraints, opportunities, and challenges.

Research Coverage

This report segments the market for aramid fiber on the basis of type, application, and region, and provides estimations for the overall volume (Ton) and value (USD Million) of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for aramid fiber.

This release was published on openPR.