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Global Aramid Fiber Reinforcement Market Size, Share, Growth, Industry Trends and Forecast 2020-2030

Global Aramid Fiber Reinforcement Market was valued at USD 3974.8 million in 2020, and is projected to reach USD 9070 million by 2030, growing at a CAGR of 8.6% during the forecast period. Aramid fiber reinforcement materials are synthetic fibers known for their exceptional heat & fire resistance and strength properties. General characteristics of these fibers include low flammability, non-conductivity, and resistance to abrasion & organic solvents. It is a high-end line artificial product characterized by its improved heat resistance (more than 500°C) and tensile strength (five times stronger than steel on an equal weight basis) for various industrial applications, such as aerospace, defense (armoring fabric/bullet proof vest), automotive (brake pad/lining, high-end tire cord for racing car), and optical fiber cable system. Furthermore, it is widely used for making ballistic body armors, sporting goods, helmets, and other protective clothing, due to their high strength and heat resistant properties. DuPont was the first to produce and commercialize aramid fiber in the 1960s under the trade name nomex.
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Market Dynamics and Factors:
The factors that drive the global aramid fiber reinforcement market are growth in demand from rise in security concerns, aerospace and defense sector. Which increase the demand for exceptional properties of fibre including heat and fire resistance, strength, safety supporting materials. Moreover, growth in need for materials that contribute to lower energy & resource consumption and weight reduction that enhances the performance of finished products have augmented the growth of aramid fiber reinforcement market. Conversely, the non-biodegradable nature of aramid fiber and high product costs may hinder the market growth during the forecast period. Furthermore, innovation in existing technologies, expanding applications in the defense sector and development of aramid fibers with higher strength and durability are expected to create several growth opportunities for the market.
Market Segmentation:
Global Aramid Fiber Reinforcement Market – By Type
Para-Aramid Fibers
Meta-Aramid Fibers
Global Aramid Fiber Reinforcement Market – By End-User
Aerospace & Defense
Automotive
Consumer Goods
Marine
Others
Global Aramid Fiber Reinforcement Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
Regionally, North America accounted for highest revenue share in the global aramid fiber reinforcement market in 2019, and is projected to maintain its supremacy throughout the forecast period. Europe was the leading market for aramid fiber followed by North America and APAC, holding around 35% market share in 2017, while the APAC held around 22%. China was the highest revenue contributor in the Asia-Pacific aramid fiber reinforcement materials market in 2015 The Asia Pacific is further foretold to be the fastest mounting market for aramid fiber in the forecasted year.
Competitive Scenario:
The major players operating in the aramid fiber reinforcement market includes DuPont and Teijin Aramid, Hyosung Corporation, Toray Chemical Korea Inc., BASF SE, Yantai Tayho Advanced Materials Co. Kermel, China National Bluestar (Group) Co. Ltd., JSC Kamenskvolokno Guangdong Charming Co., Ltd.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Aramid Fiber Reinforcement industry, although key threats, opportunities and disruptive technologies that could shape the Global Aramid Fiber Reinforcement Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Aramid Fiber Reinforcement Market most.
The data analysis present in the Global Aramid Fiber Reinforcement Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Aramid Fiber Reinforcement Market business.
The 2021 Annual Global Aramid Fiber Reinforcement Market offers:
100+ charts exploring and analysing the Global Aramid Fiber Reinforcement Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Aramid Fiber Reinforcement Market type
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