Aramid Fiber Market Size Worth $6.8 Billion By 2027

Asia Pacific is valued at USD 811.4 million in 2019 and is predicted to foresee noticeable growth from 2020 to 2027.
Factors such as increasing preference for security, growing penetration of the internet, and expansion of the telecom
industry are expected to fuel the market growth over the estimated duration. Further, increasing spending on military
and defense due to rising geopolitical tensions in emerging nations such as India and China are also expected to
accelerate the product demand. North America is projected to expand with a revenue-based CAGR of 8.8% from 2020 to
2027 and touch USD 2.1 billion by the end of 2027.
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Further key findings from the report suggest:
• Para-aramid division occupied for 75.6% market share in 2019, due to its several properties such as high tensile
strength and excellent chemical resistance.
• The security and protection segment led the aramid fiber market in 2019 and is expected to touch USD 2.6 billion by
the end of 2027, due to growing awareness relating to the safety of personnel in the industrial and military sectors.
• The Asia Pacific is predicted to ascend with a revenue-based CAGR of 9.1% over the forecast period owing to the
increasing requirement for security measures across defense and military industry.
• The U.S. market is expected to foresee substantial growth and touch USD 1.4 billion by the end of 2027 owing to the
growing demand for personal safety equipment.
• China was the leading market in the Asia Pacific in 2018 owing to the growth of automotive industries and surging
demand for personal safety equipment.