Press release
Meta-aramid Fiber MarketSize, Opportunities, Share, Top Companies, Growth, Regional Trends, Key Segments, and Forecast to 2027
Browse 246 market data Tables and 56 Figures spread through 224 Pages and in-depth TOC on "Meta-aramid Fiber Market"
The meta-aramid fiber market [https://www.marketsandmarkets.com/Market-Reports/meta-aramid-fiber-market-166804023.html] is projected to reach USD 2.3 billion by 2027, at a CAGR of 10.6% from USD 1.4 billion in 2022. The increasing demand for weightless and flexible materials in security & protection application from end-use industries such as military & defense and automotive is driving the market. Moreover, the rules and regulations related to reduction of carbon emissions is driving several manufacturers to look for alternative materials that are fuel-efficient lightweight, and strong. This is expected further to drive the meta-aramid fiber market during the forecast period. On the flip side, increased R&D costs and the non-biodegradable nature of meta-aramid fibers are restraining the market growth.
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The key market players in the meta-aramid fiber [https://www.marketsandmarkets.com/Market-Reports/meta-aramid-fiber-market-166804023.html] market report include are Teijin Ltd. (Japan), DuPont De Numerous, Inc. (US), Yantai Tayho Advanced Materials Co., Ltd. (China), Toray Industries, Inc. (Japan), Huvis Corporation (South Korea), Kermel (France), X-FIPER New Material Co., Ltd. (China), Aramid HPM, LLC (US), Shanghai J&S New Materials Co., Ltd. (China) and Lydall Industrial Filtration (UK).
DuPont De Numerous, Inc. is a global leader with technology-based materials and solutions. It offers expertise and delivers essential innovations to a broad range of markets, including electronics, transportation, building and construction, healthcare, and worker safety. The company has a presence in about 60 countries worldwide and manufacturing operations in about 40 countries. As a part of its growth strategy, the company is engaged in partnerships and collaborations in various regions, owing to the growing demand for aramid fibers in the protective clothing and high-performance clothing industries. It is concentrating on growing its Safety & Construction business segment-it is the biggest supplier of aramid fibers for the US Department of Defense. Recently, it also collaborated with VF Workwear to develop a heat-resistant garment line.
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Teijin Ltd. offers services to the transportation, information & electronics, safety & protection, environment & energy, and healthcare industries. It manages its business through six segments, namely, High Performance, Composites, Healthcare, Fibres & Products Converting, IT and Others. Teijin Ltd. offers a wide range of aramid fibers, which helps the company maintain its position in the market. Apart from this, the company is expanding its production operations rapidly to cater to the increasing demand for high-quality products; increased product supply would help the company increase its revenue. Moreover, the company is aggressively partnering with various relevant companies to develop innovative solutions. Additionally, it expanded in various regions to take advantage of high-growth markets. For instance, in November 2019, the company announced a capacity increase of para-meta-aramid fiber for the Netherlands' facilities. It is also focusing on innovation and research and development (R&D) through the identification and development of future potential products.
Europe is projected to be the largest market for meta-aramid fibers during the forecast period. The region's industrial expansion and technological advancements are driving increased consumption of these fibers. Market growth is also supported by the improving global economy. Additionally, stringent safety regulations in industries such as oil & gas, construction, aluminum, and steel are boosting the demand for protective clothing, further fueling the demand for meta-aramid fibers in Europe.
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