The major factor accountable for the growth of the market is the increasing demand in automotive and aerospace applications. Beside this, the increasing demand for the product from various industries such as healthcare, oil and gas manufacturing and others due to strict government regulations related to workplace safety is also flourishing the growth of the aramid fiber market.
The rapidly increasing demand for lightweight materials in security and protection applications has highly influenced growth of the aramid fiber market. In line with this, the going up need for lightweight materials offering significant emission reduction in vehicles is also acting as a key determinant favouring the growth of the aramid fiber market over the forecast period of 2021 to 2028. Also the, potential substitute for steel and asbestos along with protective measures requirement led by increase in asymmetric warfare are also positively impacting the growth of the aramid fiber market.
However, the high R&D costs as well as the non-biodegradable nature of aramid fibers may act as key restraint towards aramid fiber market growth rate in the forecast period of 2021 to 2028, whereas the high cost of production have the potential to challenge the growth of the aramid fiber market.
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Aramid fiber market size is valued at USD 8.5 billion by 2028 and is expected to grow at a compound annual growth rate of 10.70% for the forecast period of 2021 to 2028. Data Bridge Market Research report on aramid fiber market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Competitive Landscape and Aramid Fiber Market Share Analysis
Aramid fiber market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to aramid fiber market.
The major players covered in the aramid fiber market report are DowDuPont, TEIJIN LIMITED, TORAY INDUSTRIES, INC., Huvis, Yantai Tayho Advanced Materials Co., Ltd., Solvay, KERMEL, China National Bluestar (Group) Co Ltd., TAEKWANG INDUSTRIAL CO., LTD., Aramid Hpm, LLC, FIBERMAX Ltd, Bally Ribbon Mills, HYOSUNG ADVANCED MATERIALS, Kolon Industries, Inc., c-m-p gmbh, TOYOBO CO., LTD., Coast-Line International, Composites One, Coats Group plc, and Vectorply among others
Global Aramid Fiber Market Scope and Market Size
Aramid fiber market is segmented on the basis of type, application and end user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, the aramid fiber market is segmented into para-aramid fiber and meta-aramid fiber.
- The application segment for aramid fiber market is segmented into security and protection, frictional materials, industrial filtration, optical fibers, rubber reinforcement, tire reinforcement, electrical insulation and others.
- Based on end user, the aramid fiber market is segmented into automotive, aerospace and defense, electronics and telecommunications, electrical and others.
Aramid Fiber Market Country Level Analysis
Aramid fiber market is analyzed and market size, volume information is provided by country, type, application and end user as referenced above.
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The countries covered in the aramid fiber market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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