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