Para-Aramid Fiber Market is Forecasted to Reach US$ 2.7 billion in 2028, Says Stratview Research

The global para-aramid fiber market is projected to witness a growth rate of 3.9% annually from 2023 to 2028, with an anticipated size of US$ 2.7 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global para-aramid fiber market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 2.7 billion
Growth (CAGR): 3.9% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+

Segment Insights on the Para-Aramid Fiber Market:
The global para-aramid fiber market is segmented based on application type, end-use industry type, form type, and region.
Based on application type - The market is segmented into protection & safety, electrical transmission, tire reinforcement, rubber reinforcement, friction materials, and others.
Protection & safety is likely to maintain its dominance in the market throughout the forecast period. Various industries, including oil & gas, firefighting, military, and industrial sectors, are subject to strict safety and protection regulations. These regulations drive the adoption of advanced materials like aramid fibers that offer enhanced protection against hazards such as fire, heat, chemicals, and projectiles.

Based on the end-use industry type - The market is segmented into aerospace & defense, automotive, electrical & electronics, oil & gas, and industrial.
Automotive is expected to remain the largest market over the next five years, whereas electrical & electronics is likely to grow at the fastest pace. Aramid fibers possess excellent thermal resistance, making them suitable for applications that require effective heat management. In the electronics industry, where heat dissipation is critical to device performance and longevity, aramid fibers can be utilized in heat sinks, thermal pads, and other thermal management solutions.

Based on the form type - The market is segmented into filament, pulp, staple fiber, and others.
Filament to maintain an unwavering share in terms of value and volume, during the forecast period. The production of aramid filament fibers is well-established, and manufacturers have refined their processes over time. This stability in manufacturing contributes to the consistent availability and supply of filament-based aramid fibers.

To know the most attractive segments, visit:
https://www.stratviewresearch.com/1367/para-aramid-fiber-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is expected to remain the largest market, and Asia-Pacific is expected to be the fastest-growing region for para-aramid fiber during the forecast period. This growth outlook is majorly attributed to the following-
- North America has well-established industries that use aramid fibers across various applications, including aerospace, defense, automotive, and safety equipment. These industries contribute to a consistent and substantial demand for aramid fibers in the region.
- Asia-Pacific region, particularly countries like China and India, has been experiencing rapid industrialization and economic growth. This growth leads to increased demand for materials like aramid fibers in various industries, including automotive, protective clothing, and electronics..

Para-Aramid Fiber Market Drivers:

Some of the key drivers listed in the report are given below.
- Industries, such as aerospace, automotive, defense, and sports equipment, are increasingly seeking lightweight materials that offer high tensile strength. Para-aramid fibers, with their exceptional strength-to-weight ratio, are favored in applications where weight reduction and high performance are crucial.
- The need for protective clothing and equipment in various sectors, including the military, law enforcement, firefighting, industrial work, and sports, has driven the demand for para-aramid fibers.
- These fibers are used in manufacturing flame-resistant and cut-resistant textiles that offer excellent protection to personnel.

Top Companies in the Para-Aramid Fiber Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• DuPont de Nemours, Inc.
• Teijin Limited
• Kolon Industries, Inc.
• Yantai Tayho Advanced Materials Co.
• Hyosung Corporation
• China National Bluestar (Group) Co., Ltd.
• JSC Kamenskvolokno
• Toray Industries, Inc.
• Sinopec Yizheng Chemical Fibre Co., Ltd.
• TAEKWANG

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Para-Aramid Fiber Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:

• Aramid Fiber Market: https://www.stratviewresearch.com/165/aramid-fiber-market.html

• Meta-aramid Fiber Market: https://www.stratviewresearch.com/1368/meta-aramid-fiber-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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This release was published on openPR.