Reports And Data
Increasing demand for protective clothing from the military & defense, and industrial sectors are key factors driving market revenue growth
NEW YORK CITY, NEW YORK, USA, July 5, 2022 /EINPresswire.com/ — According to the latest report by Reports and Data, the global Aramid Fibers Market size is expected to reach USD 8,569.4 Million in 2030 and register a revenue CAGR of 6.0% over the forecast period. Growing automotive, aerospace, defense, and construction industries are among the key factors driving the market revenue growth. In addition, the growing need for lightweight materials for personnel protection equipment that protects the wearer from thermal, physical, electrical, and biological dangers is fueling the market revenue growth.
The report also provides a comprehensive analysis of the competitive landscape and studies the key competitors of the Aramid Fibers industry. The report focuses on company overview, financial standing, global market position, revenue contribution, production and manufacturing capacity, and business expansion plans. It also focuses on recent mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches, and brand promotions, among others. The study includes SWOT analysis and Porter’s Five Forces analysis to provide a comprehensive overview of the competitive landscape.
Aramid fibers are man-made fibers characterized by relatively rigid polymer chains. Strong hydrogen bonds connect the molecules, efficiently transferring mechanical strength despite their low molecular weight. These fibers have high strength, better abrasion resistance, better resistance to organic solvents, high melting points, non-conductivity, good fabric integrity, and low flammability at high temperatures.
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Companies profiled in the market report:
DuPont, Toray Industries, Inc., Hyosung Corporation, Kolon Industries Inc., and China National Bluestar (Group) Co. Ltd, Teijin Limited, Kermel, Ibiden Co., Ltd., SRO Aramid (Jiangsu) Co., Ltd., and Yantai Tayho Advanced Materials Co., Ltd.
The global Aramid Fibers markets are projected to register robust revenue CAGR during the forecast period between 2022 and 2030. Increasing awareness about green energy and eco-friendly biodegradable products and the environmental impact due to carbon emissions are a few key factors supporting market growth. High demand for various chemicals and raw materials in various industrial sectors such as food and technology, pharmaceutical and biotechnology, manufacturing, paint and coating, paper, and plastic among others. In addition, increasing research and development activities, growing demand for products like perfumes, soaps, and detergents for daily usage along with rising disposable income across the globe are further boosting the market growth.
Some Key Highlights From the Report:
• Para-aramid fiber segment is expected to register a considerable revenue growth rate over the forecast period. Para-aramid fiber is high-performance aramid fiber, with molecules that are characterized by relatively rigid polymer chains. It is produced by p-phthaloyl chloride (TPC) and p-phenylenediamine (PPD) and is used for protective apparel, tires, rubber goods, fiber-optic cable tension members, friction material, and construction reinforcement among others.
• The security & protection segment is expected to register a significant revenue growth rate over the forecast period, due to the unique set of qualities that cause these fibers to thicken when exposed to extreme heat, such as flashover. They are widely used in security & protection applications. This fiber also increases the protective shield between the heat source and the skin when firefighters need it the most. This tough barrier remains supple and flexible until it cools, providing extra minutes of protection without impairing mobility.
• The automotive segment accounted for the largest revenue share in the aramid fibers market in 2020. Aramid fibers are utilized in the production of tires reinforcement materials, powertrain components, turbocharger hoses, brake pads, belts, gaskets, seat textiles, clutches, electronics, seat sensors, and hybrid motor materials in the automobile industry. Moreover, aramid fibers’ exceptional thermal resistance makes them perfect for use in heat shields and under bonnet applications.
• The market in Europe is expected to register the highest revenue share in the global aramid fibers market during the forecast period. Europe is a hub for the world’s largest automotive manufacturers, which influences the tires market, which in turn influences the aramid fibers market. Government health and safety standards, low loan rates, the presence of large manufacturing organizations, expanding end-use industries, and the rise of the automotive industries are all driving market growth in this region.
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For the purpose of this report, Reports and Data has segmented the global aramid fibers market based on type, spinning process, application, end-use, and region:
Regional Outlook (Revenue, USD Million; 2018-2030)
• North America
• Asia Pacific
• Latin America
Type Outlook (Revenue, USD Million; 2018-2030)
• Para-Aramid Fiber
• Meta-Aramid Fiber
Spinning Process Outlook (Revenue, USD Million; 2018-2030)
• Wet Spinning
• Dry Spinning
Application Outlook (Revenue, USD Million; 2018-2030)
• Security & Protection
• Frictional Materials
• Optical Fibers
• Tire Reinforcement
• Electrical Insulation
End-Use Outlook (Revenue, USD Million; 2018-2030)
• Aerospace & Defense
• Electronics & Telecommunication
• Sports Goods
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Key Points Addressed in the Report:
• A detailed analysis of the global Aramid Fibers market through assessment of key market aspects such as technology, product type, application, end-use, and overall industry dynamics.
• Qualitative and quantitative analysis of the market estimation and CAGR calculation for the forecast period.
• All-inclusive assessment of market dynamics with emphasis on drivers, restraints, opportunities, and limitations.
• Extensive profiling of key companies operating in the market including company overview, financial standing, product offerings, product portfolio, recent product and technological advancement, and business expansion plans.
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