Aramid Fiber Market Growth, Opportunities and Analysis By 2023


24th May 2019 –   Aramid fibers are derived for their superior strength and stiffness that allows its usage for efficient load transfer in heavy-duty industries. The growing number of wars and strains across international borders has hiked the demand for bulletproof vests, missiles, armored car, eye-guards, headgear, etc., which has propelled the progression of the market. Aramid fiber has registered moderately high cost and low compressive strength, thus hindering the market expansion.

The global aramid fiber market is estimated to gain huge traction in terms of value, during the forthcoming years.

Based on product, the market has been segmented into meta-aramid, para-aramid, and others. Aramid fiber market has found its application across ballistic security & protection, rubber reinforcement, optical fibers, frictional materials, tire reinforcement, aerospace, and electrical insulation, and others. Meta-aramid fibers are highly resistant to extreme temperature & adverse climatic condition, abrasion, and chemical degradation, which has encouraged this industry to generate the highest market share.

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In order to study the span of the industry, the global market has been geographically segmented into the five key regions of North America, Europe, the Asia Pacific, the Middle East, and Africa, and Latin America. The stringent regulatory norms for building strong airplane structures and demand for protective clothing is spurring the market growth across European countries like Germany, France, and the U.K. Also, the enormous proliferation of oil & gas, steel, and construction industry in Europe has impelled it to emerge as the fastest growing and the highest market share generating region. Swelling demand for aramid fibers in electrical, automotive, and construction end-user manufacturing sectors, across the emerging economies China and India, is likely to drive the market in Asia Pacific in the upcoming years.

The market offers a multitude of challenges for the industry participants and a decisive understanding of these challenges have impelled the players to pander strategic merger & acquisition activities with their fellow contenders. They have identified the sales volume, former growth statistics, cost of resources, and future prospects.

The competitive landscape showcases the profiles and business strategies of the major players, along with their recent developments. Some of the dominant players operating in this market include Teijin Aramid, Kolon Industries Inc., E. I. du Pont de Nemours and Company, Yantai Tayho Advanced Materials Co. Ltd., Alchemie Group, HYOSUNG Corporation, Kermel, China National Bluestar Co. Ltd., SRO Group Ltd., and Guangdong Charming Co., Ltd. Among others.

The emerging companies have registered the key raw material suppliers, buyers, research investors and distributors of the air quality monitoring systems market. Stakeholders and investors are increasing their spending on research and development activities to scale the latest technologies in their system engineering process. The competitors are profiling their business expansion strategies by incorporating collaborations, and joint ventures with the fellow contenders. They have inspected the assorted threats and evolving disruptive technologies to shape the supply and demand of aramid fiber market in the forthcoming years.

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