Para-Aramid Fibers Market Size, Share, Growth, Forecast and Outlook (2024-2031)

Global Para-Aramid Fibers Market to Surpass US$ 4.4 Billion by 2031: Persistence Market Research

New York, April 3, 2024 - Persistence Market Research, a leading market intelligence firm, reports that the global para-aramid fibers market has reached a valuation of US$ 2.9 billion in 2023 and is anticipated to surge to US$ 4.4 billion by 2031, showcasing a robust CAGR of 5.3% during the forecast period from 2024 to 2031.

The steady growth of the global para-aramid fibers market is primarily attributed to the escalating demand for lightweight and high-strength materials across various end-use sectors. Para-aramid fibers find extensive applications, including in the manufacturing of bulletproof vests, body armor, and reinforced materials for automotive and aeronautical structures.

Major manufacturers in the para-aramid fibers industry are strategically expanding their footprint in the US market through strategic alliances, acquisitions, and investments in research and development facilities to meet evolving client expectations.

One such notable instance is the debut of Durak Tekstil Para Aramid Thread in the US market at the ISPA Expo on January 27, 2022. Renowned for its superior heat resistance, breaking strength, and non-conductive qualities, Durak Fire Safe Para Aramid sewing thread has gained traction among mattress manufacturers, contributing significantly to the regional market's growth, capturing over three-fourths of the market share.

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Market Dynamics

The market is witnessing a surge in usage in ballistics protection applications with the introduction of innovative technologies such as Kevlar EXO aramid fiber by DuPont. The Kevlar EXO aramid fiber offers unparalleled ballistics performance and durability, making it the preferred choice for soft body armor materials.

Furthermore, the emergence of high-performance para-aramid fibers like Technora and Twaron by Teijin Aramid is expanding the market's reach across various sectors including automotive, maritime, ballistic protection, civil engineering, protective apparel, optical fiber cables, and oil and gas.

Segment Analysis

The global para-aramid fibers market is segmented based on application, end-user, and region. The development of next-generation aramid fibers with electrical conductivity is opening up new avenues for innovation and market expansion by broadening application options and addressing rising trends.

Geographical Penetration

Asia-Pacific is emerging as a key market for para-aramid fibers, driven by enhanced supply chain reliability. Companies in the region are showcasing innovative para-aramid products tailored to meet the demands of sectors such as optical communication, contributing significantly to market growth.

Competitive Landscape

Key players in the global para-aramid fibers market include SIKA AG, Nuvoco Vistas, BASF SE, Euclid Chemical Company, Butterfield Color, W. R. Meadows, Inc., BRICKFORM, Interstar Materials, Cemstone Products Company, and L.M. Scofield Company.

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