Aramid Fiber market forecast 2023-2032 - major trends, lucrative segments and fastest growing regions

As per The Business Research Company's Aramid Fiber Opportunities And Strategies Market Report 2023, The aramid fiber market reached a value of nearly $4,350.36 million in 2022, having grown at a compound annual growth rate (CAGR) of 6.58% since 2017. The market is expected to grow from $4,350.36 million in 2022 to $7,083.13 million in 2027 at a rate of 10.24%. The market is then expected to grow at a CAGR of 11.45% from 2027 and reach $12,180.09 million in 2032.

Increasing populations and urbanization globally is expected to drive the demand for aramid fibers going forward. An increase in urbanization and population boosts the need for different fibers, driving demand for aramid fibers. For example, according to data from the United Nations, the world population is expected to reach 9.8 billion by 2050. By 2050, it is estimated that around 68% of the total world population will live in urban areas, up from the 55% of the world's population living in urban areas currently.

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Aramid fibers companies are increasingly shifting to the production of sustainable and eco-friendly fabrics. Companies are choosing environmentally friendly and recycled raw materials for the production of eco-friendly fibers that cause less or no damage to the environment.

The top opportunities in the aramid fiber market segmented by type will arise in the para-aramid fiber segment, which will gain $2,152.28 million of global annual sales by 2027. The top opportunities in the aramid fiber market segmented by application will arise in the protective fabrics segment, which will gain $901.46 million of global annual sales by 2027. The top opportunities in the aramid fiber market segmented by end-use industry will arise in the automotive segment, which will gain $1,050.51 million of global annual sales by 2027. The aramid fiber market size will gain the most in USA at $659.15 million.

Aramid Fiber Market Segmentation:
The Aramid Fiber market is segmented by type, by application and by end user.
By Type -
a) Para-Aramid Fiber
b) Meta-Aramid Fiber

By Application -
a) Protective Fabrics
b) Frictional Materials
c) Optical Fibers
d) Tire Reinforcement
e) Rubber Reinforcement
f) Composites
g) Other Applications.

By End User -
a) Aerospace And Defense
b) Automotive
c) Electronics And Telecommunication
d) Sports Goods
e) Other End-Use Industries.

Major players in the Aramid Fiber market include DuPont, Teijin Ltd., Taekwang Industrial, Toray Industries, Inc,Hyosung.
The regions covered in the global Aramid Fiber market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Aramid Fiber Market Report Table Of Content
1. Aramid Fiber Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
……
18. Competitive Landscape And Company Profiles
19. Company Profiles
20. Key Mergers And Acquisitions
21. Opportunities And Strategies
22. Appendix

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The latest report from The Business Research Company, 'Global Aramid Fiber Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

This release was published on openPR.