Kevlar Fiber's Diverse Applications Drive Market Beyond Bulletproof Vests Expansion

Kevlar Fiber Market to reach over USD 682.65 billion by the year 2031 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Kevlar Fiber Market Size, Share & Trends Analysis Report by Application (Safety And Protection, Aerospace, Industrial Filtration, Frictional Materials, Rubber And Tire Reinforcement, Optical Fibers, Electronics And Telecommunication)- Market Outlook And Industry Analysis 2031"

The global kevlar fiber market is estimated to reach over USD 682.65 billion by 2031, exhibiting a CAGR of 4.92% during the forecast period.

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Kevlar , a member of the aramid family , boasts a unique chemical composition that sets it apart. Its exceptional features include robust tensile strength, low heat conductivity, lightweight nature, distinct stiffness, and high tenacity . These qualities make Kevlar a valuable material for a wide range of applications, particularly in the production of secure and cut-resistant accessories and clothing. The principal driver of the global kevlar market's expansion is the material's widespread application in everything from body armour to industrial machinery to consumer goods.

DuPont's state-of-the-art technology and continuous innovation in deploying Kevlar to a diversified and new range of opportunities in conjunction with industrial manufacturers, governments, and communities will aid in developing the global Kevlar market. The global market is driven by the growing use of body armour fibre in various applications such as optical fibres, industrial filtration, electrical insulation, and frictional materials.

The COVID-19 pandemic caused incalculable business losses and had a disastrous impact on the global electronic industry. Despite the COVID-19 pandemic causing incalculable losses in business and a disastrous impact on the global electronic industry, there is a silver lining. More people are opting for aeroplanes over other forms of transportation, showing a stronger preference for nonstop travel to lower their risk of catching the coronavirus. This shift in consumer behaviour is likely to lead to a rise in aircraft production and subsequent growth in the Kevlar fibre market, offering a glimmer of hope for post-pandemic recovery.

List of Prominent Players in the Kevlar Fiber Market:
• SRO Aramid (Jiangzu) Co., Ltd.
• Stern EWS
• Teijin Ltd.
• Toray Industries Inc.
• Yantai Tayho Advanced Materials Co. Lt
• Aramid Hpm LLC
• C.S.R. Inc.
• China National Bluestar (Group) Co., Ltd.
• CTech LLC
• DuPont De Numerous Inc.
• Final Advance Materials
• GAB Neumann Gmbh
• Hexcel Corporation
• Huvis Corporation
• Hyosung Advanced Materials
• Kermel
• Kermel S.A.
• Kolon Industries Inc.
• MiniFIBERS Inc.

Market Dynamics:
Drivers-
The market is anticipated that increasing product demand from various industries, including oil & gas, healthcare, manufacturing, and others, will propel the market's expansion. The epidemic also caused significant financial losses for several manufacturers, leading some to delay the deployment of new automation systems. However, the market benefited from a large increase in product demand from the medical business. Demand for the product is anticipated to be driven by a growth in onshore and offshore drilling activities as well as the expansion of the shale oil and gas sector.

Challenges:
Due to the absence of interest from the manufacturing sector during the COVID-19 crisis, the market saw a sharp fall in growth. Governmental limitations led to the temporary closure of many different industries, reducing the product market. The development of competing products like the carbon nanotube- and recycled polymer-based A.B.C. Matrix by Novana and Miralon by Nanocomp Technologies Inc. could impede the expansion of the global kevlar market.

Regional Trends:
The North America kevlar fiber market is expected to register a major market share. The region's developed automotive industry and strict laws to enhance industrial workers' safety are expected to increase the regional market share for kevlar. This region's contribution to the global kevlar market is anticipated to come from the rising demand for the material in the automotive sector and the production of optical fibers used in telephone networks. Besides, the Asia Pacific region had a substantial share of the market. Due to the increased use of security and protection solutions across several businesses, growth is anticipated. The demand for products in APAC is also projected to be influenced by growing internet usage in emerging economies, fast industrialization, and strong expansion in the telecom sector.

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Recent Developments:

• In November 2020-A deal for delivering 38 new Eurofighter aircraft, including 30 single-seaters and eight twin-seaters, to the German Air Force was signed by Airbus.

• In March, 2019-German airline Lufthansa placed orders for 20 brand-new Boeing 787-9 aircraft and 20 Airbus A350-900 long-haul airplanes, which will be delivered between late 2022 and 2027.

Segmentation of Kevlar Fiber Market-
By Application

• Safety and Protection
• Aerospace
• Industrial Filtration
• Frictional Materials
• Rubber and Tire Reinforcement
• Optical Fibers
• Electronics and Telecommunication
• Others

By Region-
North America-

• The US
• Canada
• Mexico

Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.