Aramid Fiber Market Analysis by Global Segments, Growth, Size and Forecast 2023
Aramid Fiber Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015-2023. The market is anticipated to reach US$ 5,099.1 Mn by 2023.
Aramid Fiber Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015-2023. The market is anticipated to reach US$ 5,099.1 Mn by 2023.
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Transparency <strong>Market</strong><br />
Research<br />
<strong>Aramid</strong> <strong>Fiber</strong> <strong>Market</strong> (Para-aramid <strong>Fiber</strong> <strong>and</strong> Metaaramid<br />
<strong>Fiber</strong>) Aerospace & Defense, Automotive,<br />
Electrical, Electronics & Telecommunication, <strong>and</strong> Other<br />
End-users - <strong>Global</strong> Industry <strong>Analysis</strong>, <strong>Size</strong>, Share,<br />
<strong>Growth</strong>, Trends <strong>and</strong> <strong>Forecast</strong> 2015 - <strong>2023</strong><br />
Published Date<br />
2015-05-28<br />
157 Page Report<br />
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Press Release<br />
<strong>Aramid</strong> <strong>Fiber</strong> <strong>Market</strong> Dem<strong>and</strong> Stimulated <strong>by</strong> Automotive <strong>and</strong><br />
Protective Clothing Industries; <strong>Market</strong> to Hit US$ 5,099.1<br />
million <strong>by</strong> <strong>2023</strong><br />
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<strong>Aramid</strong> <strong>Fiber</strong> <strong>Market</strong><br />
REPORT DESCRIPTION<br />
<strong>Aramid</strong> fiber is a fiber with a long chain of synthetic polyamide. <strong>Aramid</strong> polymer is prepared <strong>by</strong> a<br />
reaction between carboxylic acid halide group <strong>and</strong> amine group. <strong>Aramid</strong> fiber is produced <strong>by</strong><br />
spinning the dissolved aramid polymer to a solid fiber from a liquid chemical blend. Depending<br />
on their components, aramid fibers have been divided into para-aramid fiber <strong>and</strong> meta-aramid<br />
fiber. As plastic composite materials, para-aramid fibers are used in body, floor, <strong>and</strong> wall<br />
materials of airplanes, fishing rod, golf club, bow, ski, etc. Additionally, these fibers are used as a<br />
substitute of reinforced concrete for curtain walls for multistoried building. Meta-aramid fibers<br />
are used in clothing for fire-fighters, filter cloth for high-temperature, uniforms for hightemperature<br />
workings, car racing suits, heat insulating materials, etc. <strong>Aramid</strong> fiber is employed<br />
in end-user industries such as aerospace & defense, automotive, electrical, electronics &<br />
communication, construction, <strong>and</strong> sports goods. In terms of revenue, the global aramid fiber<br />
market was valued at US$ 2,598.2 Mn in 2014 <strong>and</strong> is projected to reach US$ 5,099.1 Mn <strong>by</strong> <strong>2023</strong>,<br />
exp<strong>and</strong>ing at a CAGR of 7.8% from 2015 to <strong>2023</strong>.<br />
Browse <strong>Market</strong> Research Report:<br />
http://www.transparencymarketresearch.com/aramid-fiber-market.html<br />
Para-aramid fiber is extensively used in the automotive <strong>and</strong> aerospace & defense end-user<br />
industries. It was the largest product segment of the global aramid fiber market, accounting for<br />
more than 70% share in 2014. Para-aramid fiber is also expected to be the fastest growing<br />
product segment of the aramid fiber market in the next few years. In terms of end-users,<br />
automotive emerged as the largest segment of the aramid fiber market with a share of more<br />
than 35% in 2014. The segment is likely to witness considerable growth during the forecast<br />
period. Electrical is expected to be the fastest growing end-user segment of the aramid fiber<br />
market, exp<strong>and</strong>ing at a CAGR of 8.3% in terms of revenue from 2015 to <strong>2023</strong>. Rising dem<strong>and</strong> for<br />
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<strong>Aramid</strong> <strong>Fiber</strong> <strong>Market</strong><br />
industrial protective clothing <strong>and</strong> growth in global automotive market is expected to drive the<br />
global aramid fiber market during the forecast period.<br />
Based on region, the global aramid fiber market has been segmented into North America,<br />
Europe, Asia Pacific, Latin America, <strong>and</strong> the Middle East & Africa. Europe was the largest regional<br />
market for aramid fiber, constituting over 35% share in 2014. Increase in dem<strong>and</strong> for protective<br />
clothing <strong>and</strong> personal armor is anticipated to boost the aramid fiber market in Europe in the next<br />
few years. This rise in dem<strong>and</strong> can be primarily ascribed to the increase in export to developing<br />
countries. Asia Pacific is projected to be the fastest growing region in the global aramid fiber<br />
market during the forecast period. Rising dem<strong>and</strong> for aramid fiber in automotive, electrical, <strong>and</strong><br />
construction end-user industries in emerging economies such as China <strong>and</strong> India, <strong>and</strong> countries<br />
in ASEAN is likely to drive the aramid fiber market in Asia Pacific in the next few years. The<br />
aramid fiber market in North America is estimated to exp<strong>and</strong> at a significant rate over the next<br />
eight years, due to the slow but steady recovery of the economy in the U.S. The aramid fiber<br />
market in Latin America is anticipated to exp<strong>and</strong> at a significant rate over the next eight years,<br />
primarily due to growth in automotive <strong>and</strong> construction end-user industries. The aramid fiber<br />
market in the Middle East & Africa is projected to witness decent growth in the next few years,<br />
owing to rising dem<strong>and</strong> for protective clothing in the oil & gas industry in the Middle East.<br />
Get accurate market forecast <strong>and</strong> analysis on the <strong>Aramid</strong> <strong>Fiber</strong> market. Request a<br />
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Rising dem<strong>and</strong> for aramid fiber in the rapidly exp<strong>and</strong>ing automotive, aerospace &<br />
defense, <strong>and</strong> electrical end-user segments is anticipated to drive the global aramid<br />
fiber market in the next few years. Rapid commercialization of aramid nano-fiber is<br />
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<strong>Aramid</strong> <strong>Fiber</strong> <strong>Market</strong><br />
expected to act as an opportunity for the aramid fiber market in the next eight years. However,<br />
availability of application-specific substitutes <strong>and</strong> high cost of manufacturing associated with<br />
aramid fiber are estimated to hamper market growth of aramid fiber during the forecast period.<br />
Major manufacturers of aramid fiber include E. I. du Pont de Nemours <strong>and</strong> Company, Teijin<br />
<strong>Aramid</strong>, Kolon Industries Inc., HYOSUNG Corporation <strong>and</strong> Yantai Tayho Advanced Materials Co.,<br />
Ltd.<br />
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