Aramid Fiber Market 2018 Industry Analysis, Top Players, Revenue and Market Share Report 2023
The global aramid fiber market is segmented on the basis of the type, application, and end-user industries.
Based on the type, the global aramid fiber market is segmented as meta-aramid, para-aramid, and others.
The market is segmented on the basis of its application into security & protection, frictional materials, rubber reinforcement, optical fiber, electrical insulation, and others.
On the basis of the end-user industries, the global aramid fiber market is segmented into aerospace & defense, automotive, consumer goods, marine, and others.
- TEIJIN LIMITED (Japan),
- Yantai Tayho Advanced Materials Co., Ltd (China),
- HYOSUNG (South Korea),
- Toray Chemicals Korea Inc. (South Korea),
- KERMEL (France),
- Kolon Industries, Inc. (South Korea),
- Huvis (South Korea),
- China National Bluestar (Group) Co. Ltd. (China),
- SRO Aramid (China) Co., Ltd. (China),
- IBIDEN CO., LTD (Japan)
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Aramid fibers are polyamides containing at least 85% amide linkages directly attached to aromatic rings. Various types of aramid fibers include meta and para aramid fiber. Meta-aramid fiber is projected to be the leading segment due to its high use in electrical insulation and security & protection applications. These aramid fibers have properties such as high thermal, chemical resistance, and dielectric coefficient, which makes them suitable for fire resistant clothing and electric insulation.
Among the various applications of aramid fiber, the security & protection is the leading segment owing to the high demand for protective clothing in defense and industrial sectors. The optical fiber and electric insulation together hold a significant market share on account of the high demand for electronics and consumer goods along with the high disposable income and changing lifestyle. They find their use in major end-use industries such as aerospace, defense, and automotive. The increasing R&D in aerospace sector has augmented the market growth. Furthermore, the demand for lightweight, durable, and efficient automotive is projected to fuel the global market growth during the review period.
The global aramid fiber market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific is the largest region in the global aramid fiber market owing to the high growth pace of industrial and defense sectors. This drives the demand for protective clothing, thereby, propelling the aramid fiber market growth. The high production and exports of automotive in countries such as India, China, and Japan are expected to fuel the market growth. The extensive use of the product in electrical insulation of consumer goods is also influencing the market growth in Asia Pacific region. The demand for strong, lightweight, and safe automotive and consumer goods and the high disposable income has augmented the market growth.
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North America is the second largest region in the global aramid fiber market on account of the high demand for aramid fiber from the defense & military sector of the U.S. The high research & development of aerospace is fuelling the market growth further.
The European market is expected to witness a significant growth owing to the high production and exportation of automotive parts in Western Europe.
Latin American regional market is likely to grow owing to the high production and sales of automotive, especially in Mexico.
The Middle East & African market is expected to showcase considerable growth on account of the increasing use of the product in construction sector as a substitute of steel and asbestos.
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