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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<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 />
Transparency <strong>Market</strong> Research<br />
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