Press release
Aramid Fiber Market is Forecasted to Reach US$4.6 Billion in 2034, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm has launched a report on the global aramid fiber market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/165/aramid-fiber-market.html#form
Market Statistics
Market Size in 2023: US$3.3 billion
Market Size in 2034: US$4.6 billion
Growth (CAGR): 3.2% during 2024-2034
Leading Fiber Type: Para-Aramid Fiber
Leading Application Type: Electrical Transmission & Insulation
Leading Form Type: Filament
Leading End-Use Industry Type: Electronics & Communications
Leading Region: North America
Forecast Period: 2024-2034
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 5
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights & Market Share Analysis of the Aramid Fiber Market:
The global aramid fiber market is segmented based on Fiber type, Application type, Form type, End-Use Industry type, and Region.
Based on Fiber Type -
The aramid fiber market is segmented into para-aramid fiber and meta-aramid fiber. Para-aramid is expected to be the preferred fiber, while Meta aramid fiber is anticipated to be the fastest-growing during the forecast period. Para-aramid fibers, such as Kevlar®, have a long history of use in various industries, including ballistic protection, automotive, aerospace, and industrial applications. Their high strength, heat resistance, and exceptional durability make them suitable for a wide range of applications. Meta-aramid fibers, such as Nomex®, offer exceptional heat resistance and flame retardancy, making them suitable for applications such as protective clothing, insulation, and other industries where flame resistance is crucial.
Based on the Application Type -
The market is segmented into protection & safety, electrical transmission & insulation, tire reinforcement, rubber reinforcement, friction materials, filtration, paper, and other application types. Electrical transmission & insulation and honeycomb paper segments are expected to be the largest demand-generating applications during the forecast period. Aramid fibers exhibit high dielectric strength, making them excellent electrical insulators that can withstand high voltages without electrical breakdown, making them ideal for electrical transmission and insulation applications. Honeycomb paper structures require materials that can offer structural integrity along with lightweight construction. Aramid fibers provide the necessary strength-to-weight ratio, making them suitable for these applications.
Which Region Shows the Most Promising Growth Forecast and Opportunity?
By region, North America is expected to remain the largest market over the next ten years, whereas Asia-Pacific is likely to grow at the fastest rate. North America has well-established industries such as aerospace & defense, automotive, and industrial manufacturing that have a consistent demand for high-performance materials like aramid fibers. The Asia-Pacific is experiencing rapid economic growth, leading to increased industrialization and infrastructure development, which drives demand for advanced materials like aramid fibers for automotive and manufacturing applications.
Aramid Fiber Market Drivers:
Some of the key drivers listed in the report are given below.
- The rising demand for lightweight and high-performance materials in various industries is reshaping product designs and manufacturing practices.
- Aramid fibers, with their unique combination of strength, durability, and lightness, play a pivotal role in meeting these evolving demands and driving innovation across end-use industries.
- Increasing investments in wireless infrastructure, surging tire replacement demand coupled with a recovery in automotive production, an expected rebound in commercial and regional aircraft deliveries, and growing military expenditure.
Top Companies in the Aramid Fiber Market:
The global market for Aramid Fiber is highly concentrated, with the top four companies capturing a lion's share. Apart from technological expertise and financial capabilities, the growth of companies is directly dependent on government support and overall industry conditions. Stratview Research has identified the following companies as the top market players:
- DuPont de Nemours, Inc.
- Teijin Limited
- Yantai Tayho Advanced Materials Co.
- Kolon Industries, Inc.
- SRO Aramid (Jiangsu) Co. Ltd.
- Kermel
- Toray Industries, Inc.
- Huvis Corporation
- Hyosung Corporation
- China National Bluestar (Group) Co., Ltd.
Note: The above list does not necessarily include all the top players in the market.
What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the 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
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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.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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