11-Apr-2022 | Facts and Factors
The global aramid fiber market was worth around USD 3,521.8 million in 2021 and is estimated to grow to about USD 6,070.8 million by 2028, with a compound annual growth rate (CAGR) of approximately 9.5% over the forecast period. The report analyzes the aramid fiber market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the aramid fiber market.
Aramid fibers have found a wide scope of application in the technologically advanced world that is focusing on changing the conventional operational trends. Aramid fibers are crucial in developing low-weight aircraft and vehicles and due to their high structural integrity and this factor is anticipated to boost the aramid fiber market potential in the long run.
Browse the full “Aramid fiber Market By End-Use Industry (Aerospace and Defense, Automotive, Electronics and Telecommunication, Sports Goods, Others), By Product Type (Meta-Aramid Fiber, Para-Aramid Fiber, Others), By Application (Protective Fabrics, Frictional Materials, Optical Fibers, Tire Reinforcement, Rubber Reinforcement, Composites, Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022 – 2028” report at https://www.fnfresearch.com/aramid-fiber-market
Aramid fibers are being used in multiple aerospace and automotive applications to reduce costs of manufacturing without compromising the structural integrity of the said model to make a more efficient end product. Increasing demand from the defense sector is also anticipated to boost the aramid fiber market potential over the forecast period as multiple nations across the world invest in advancing their defense infrastructure and increasing their defense spending to bolster security.
The high costs associated with the manufacturing and development of aramid fiber are expected to act as a major restraint for the aramid fiber market over the forecast period. Volatility in the costs of raw materials will also hamper the aramid fiber market potential in the long run. Aramid fiber companies are investing in the development of new products that are more cost-effective and are more sustainability compliant in order to boost their sales over the forecast period and in the long run.
Increasing demand from the automotive sector due to low weight structure requirements in electric vehicles is also expected to be a prominent trend driving the aramid fiber market growth over the forecast period.
The pandemic of 2020 led to a major downfall in the aramid fiber marketplace on a global level and this trend was mostly due to hampered research and development activity across the world as lockdowns were imposed to contain the spread of coronavirus infections. These restrictions made manufacturing and distribution activities hard for aramid fiber companies and hence resulted in major losses to the global marketplace.
The aramid fiber market is expected to make a good recovery in the post-pandemic era owing to the resumption of multiple industrial activities and the lifting of lockdown restrictions. The aramid fiber market will see quick recovery as the scope of application for aramid fiber widens and we witness a high demand for lightweight fiber alternatives across all industry verticals.
The global aramid fiber market is segregated based on end-use industry, product type, application, and region. Based on the end-use industry, the global market is distinguished into Aerospace and Defense, Automotive, Electronics and Telecommunication, Sports Goods, and Others. The aerospace and defense industry is expected to be the most lucrative one in the aramid fiber market landscape owing to rising investments in defense infrastructure development by multiple governments across the world over the forecast period.
Europe is known for its stringent mandates that require the companies to focus on sustainability and this is driving the demand for more lightweight materials in this region other than in any other region in the world. The focus of the government to reduce emissions and increase sustainability is also expected to boost the aramid fiber market demand through 2028. Increasing investments in defense and automotive sectors are also expected to positively impact the aramid fiber market potential through 2028.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 3,521.8 Million |
Projected Market Size in 2028 |
USD 6,070.8 Million |
CAGR Growth Rate |
9.5% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Teijin, DuPont de Nemours Inc., Yantai Tayho Advanced Materials Company, Hyosung Corporation, Toray Chemical Korea, Kolon Industries, Huvis, China National BlueStar Group Company, Taekwang Industrial, JSC Kamenskvolokno, Guangdong Charming Company., and Others |
Key Segment |
By End-Use Industry, Product Type, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Key players functioning in the global aramid fiber market include Teijin, DuPont de Nemours Inc., Yantai Tayho Advanced Materials Company, Hyosung Corporation, Toray Chemical Korea, Kolon Industries, Huvis, China National BlueStar Group Company, Taekwang Industrial, JSC Kamenskvolokno and Guangdong Charming Company.
Recent developments:
- In 2020, DuPont a leading chemical manufacturer and a multinational firm announced a new development of DuPont Kevlar MicroCore which is a unique material that will be used in high-performance lithium-ion batteries for electric vehicles.
The global aramid fiber market is segmented as follows:
By End-Use Industry
- Aerospace and Defense
- Automotive
- Electronics and Telecommunication
- Sports Goods
- Others
By Product Type
- Meta-Aramid Fiber
- Para-Aramid Fiber
- Others
By Application
- Protective Fabrics
- Frictional Materials
- Optical Fibers
- Tire Reinforcement
- Rubber Reinforcement
- Composites
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Reunion
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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