A review: Aramid Fiber Market Share, Size, Price trend, Application, Properties, improving impact resistance and residual compressive strength Forecast 2023

Aramid Fiber Market Information: By Type (Meta-Aramid, Para-Aramid), Application (Security & Protection, Frictional Materials, Rubber Reinforcement), End-Use Industry (Aerospace & Defense, Automotive, Consumer Goods, Marine), And Region- Forecast Till 2023

Pune, India - August 6, 2019 /MarketersMedia/ —

Aramid Fiber Market Overview:

Aramid Fiber Market will be showcasing a relentless growth trajectory owing to various factors, surging at a double digit CAGR during the forecast period (2017-2023), prognosticates Market Research Future (MRFR) in its latest report.

Market Drivers and Key Barriers:

Aramid fiber finds application in numerous industries owing to its beneficial mechanical properties, like impact resistivity, abrasion thermal degradation resistance etc. Meta-aramid fiber and Para-aramid fiber can be used in protective clothing, in addition to being used in stab-resistant products, for instance in protective gloves and helmets.

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These types of fibers are highly useful in clothing, as they impart various properties like lightweight, high strength, high energy absorption and cut-resistivity into the clothing material. Other than this, these fibers help provide resistance from heat as well as flames, without melting or adhering to the skin. These fibers are made use of widely in ballistic protective applications, like in protective apparel such as motorcycle protective clothing, hunting gaiters, gloves, pants and chaps. In the past couple of years, the defense expenditure has increased, which has resulted in an increased demand for aramid fiber.

As weight is a crucial aspect when it comes to the design and manufacture of heavier-than-air machines; numerous researchers and scientists are continuously making efforts in a bid to improve the lift-to-weight ratio. The same can be applied for defense uniforms, as less weight provides the soldiers greater mobility, subsequently allowing them the tactical benefit in the battleground or in any threatening situation.

With the increase in environmental lobbying and also the increased cost of fuel, there is constant pressure on commercial flying for improving the performance, with weight reduction being the only solution for the issue. Moreover, there can be decrease in the aircraft maintenance cost only if corrosion is eliminated. Apart from this, there is fierce competition in the military as well, as there is continuous pressure to increase the range and payload, in addition to performance characteristics alogn with survivability. The combination of these factors will leave a deep impact the usage rate of aramids in aerospace & defense applications. Thus, the augmented demand from all these sectors is poised to be an important factor behind growth of the aramid fiber market in the coming years.

Market Trends:

Few key trends penetrating the market include constant marketing strategies by numerous companies such as mergers, acquisitions, as well as others. Case in point, DuPont Protection Solutions, in March 2017, got into a two-year global agreement with Nitro Circus, which is an action sports company, influencing the product use in sporting goods.

Market Segmentation:

The market for aramid fiber is segmented on the basis of type, application, and end-user industries.

The global aramid fiber market, by type, is segmented into meta-aramid, para-aramid, and others. Para-aramid is expected to be the leading segment among the types of aramid fibers, as these are extensively used in numerous applications like wire and cables, ballistic protection, race cars, hose reinforcement, and protective gloves.

The various applications mentioned in the report include security & protection, frictional materials, rubber reinforcement, optical fiber, electrical insulation, and others. The security and protection application will present countless significant market opportunities for aramid fibers in the next few years, as aramid fibers are in high demand in this application on account of the increasing concerns over protection of personnel in military as well as industrial sectors.

Depending on the end-user industries, the global aramid fiber market is considered for aerospace & defense, automotive, consumer goods, marine, and others.

Regional Insight:

The global aramid fiber market is spread across the five key regions of Asia Pacific, Europe, Latin America, North America, as well as the Middle East & Africa.

Out of all the regions, the Asia Pacific is considered to be the fastest growing region in the global market backed by the developing industrial, aerospace, and military sectors in the region. The accelerated demand for lightweight, durable, and efficient automotive is adding on to the potential of the market in the region. Besides, the sales and production of the consumer goods in the area are high, furthering the market growth to a lucrative level.

Following Asia Pacific is the region of North America, which is considered to be the second largest market in the global aramid fiber market, as a result of the growing demand from the defense and automotive sector. The United States (U.S) is the leading country in the region, backed by the bonus of being one of the major military powers in the world. Also, the country will continue to dominate the region over the review period, which will most likely elevate the product demand. Apart from this, the growing demand for automotive along with the high disposable income will bear further good news for the regional market.

The market in Latin America is expanding at a moderate rate, benefitting largely due to the developing automotive sector in Mexico.

On the other hand, the high sales and production of different automotive parts in countries in western Europe like the United Kingdom (U.K), France, Germany, and others will elevate the market position for aramid fiber in the region.
Lastly, the Middle East & Africa market will show positive growth pattern in the near future on the back of increasing product demand from the construction sector as a replacement for asbestos and steel.

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Key Players:

The prominent players part of the global aramid fiber market include Huvis (South Korea), HYOSUNG (South Korea), SRO Aramid (Jiangzu) Co., Ltd. (China), TEIJIN LIMITED (Japan), IBIDEN CO. LTD. (Japan), Kolon Industries, Inc. (South Korea), KERMEL (France), China National Bluestar (Group) Co. Ltd. (China), Toray Chemicals Korea Inc. (South Korea), Yantai Tayho Advanced Materials Co., Ltd (China), and others.

Industry Update:

June 2018 – The soldiers of Singapore Armed Forces have been provided with new and faster-drying hybrid uniforms, to be worn during training in the field, thereby decreasing the risk of heat injuries. The uniform material has been made of a green T-shirt-like fabric, which is a combination of flame-resistant synthetic material as well as aramid.

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Organization: Market Research Future
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Website: https://www.marketresearchfuture.com/reports/aramid-fiber-market-5868

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