The Aramid Fiber Market is projected to grow at CAGR of 5.51% during the forecast period
The report published by Knowledge Sourcing Intelligence LLP titled “Aramid Fiber Market – Forecasts from 2018 to 2023” studies the various factors affecting the demand for various types of aramid fibers worldwide. The report has been segmented by type (para-aramid, meta-aramid), and end-user industry (aerospace and defense, automotive, others). In addition, the demand for an aramid fiber has been estimated based on the geography, covering five regions namely North America, South America, Europe, Middle East and Africa and the Asia Pacific, and some of the major economies in each of these regions. The demand for aramid fiber would primarily be driven by rising adoption of protective clothing in various industries like construction, aerospace, and military. Increasing defense expenditure and rapid expansion of the automotive industry is expected to propel the demand during the forecast period. Moreover, rising need for lightweight materials that are offering significant emission reduction in automobiles is further expected to drive the growth of the market.
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By type, Para-Aramid is projected to have a dominant share in the aramid fiber market in 2018.
It is estimated that the demand for para-aramid fiber will be stronger as compared to meta-aramid in 2018 and will grow at a significant rate. The demand for para-aramid will be directly affected by increasing demand for protective clothing in industries like construction, aerospace and military and its application in and the automotive industry. Superior properties of fibers make them suitable for an ample number of application that requires the product to be light weighted and powerful. The sudden rise in the adoption of para-aramid across industry verticals, especially defense and automotive, are the major factors driving the growth of the market during the forecast period.
The Asia Pacific region is estimated to hold a significant share in the Aramid Fiber market throughout the forecast period.
The demand for aramid fibers was comparatively high in the Asia Pacific region owing to the rising investment in aerospace and defense in various countries such as China, India, Japan, and South Korea, among others. Furthermore, an increase in automotive production due to the availability of labor at an economical price and favorable government policies is adding to the demand for aramid fiber. Increasing concern for health and safety of defense personnel and industrial workers in the developing countries is expected to have a positive effect on the demand for aramid fiber in this region. Moreover, growing infrastructure, aerospace, telecommunication, and automotive industries in the region are expected to drive the market during the forecast period.
This report also includes a study of strategies and product portfolios of some of the leading companies in the aramid fiber market. It consists of company profiles of the leading companies such as Du Pont de Nemours and Company, Teijin Ltd., Huvis Corp., Toray Chemicals, Kolon Industries, Yantai Tayho Advanced Materials Co., Hyosung Corp., China National Bluestar (Group) Co., X-Fiper (SRO Aramid) and Kermel S.A.
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About Us:
Knowledge Sourcing Intelligence (KSI) is a market research and consulting organization based out of India. KSI publishes research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centering on niche and latest technologies. We engage with key decision makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with whole market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.
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