Press "Enter" to skip to content

Aramid Fiber Market to Reach $7243.3 Million Upcoming Growth by 2027

The   aramid fiber market   size is projected to reach USD 7,243.3 million by the end of 2027. The presence of several large-scale companies will contribute to the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Aramid Fiber Market Size, Share & Industry Analysis, By Product Type (Para, Meta and Others), By Application (Security & Protection, Frictional Materials, Rubber & Tire Reinforcement, Optical Fiber, Electrical Insulation, Aerospace and Others), and Regional Forecast, 2020-2027” the market was worth USD 4,522.6 million and will exhibit a CAGR of 6.5% during the forecast period, 2020-2027.

Aramid fibers are widely used across diverse industry applications, mainly due to their exceptional physical properties. The product is characterized by mechanical strength and excellent resistance to external factors including pressure and humidity. As this is a manmade fiber, availability is not an issue. The increasing demand for the product has led to the presence of several large scale manufacturing units across the world. The presence of several large scale manufacturers will have a direct impact on the growth of the overall market in the forthcoming years. Besides this, properties such as low flammability and good fabric integrity will contribute to the growing adoption of aramid fibers across diverse industry verticals in several countries.

 

Covid-19 Pandemic has Limited Product Adoption in End-use Industries

The recent coronavirus outbreak has had a massive impact on several economies across the globe. The efforts taken to curb the spread of the disease have limited the growth of the businesses across the world. Due to the rapid spread of the disease, several countries are looking to implement strict measures with a view to controlling the spread of the disease.

 

Browse Summary of This Research:

www.fortunebusinessinsights.com/aramid-fiber-market-102183

 

The measures taken to curb the spread of the disease, including lockdown and social distancing practices have resulted in a shortfall of manpower and workforce. As a result, several production units have either been put on hold or being operated with limited resources. The demand for aramid fiber has gone down drastically in the past few months; a factor that will have a considerable impact on the overall market in the coming years.

 

Increasing Number of Product Innovations will Emerge in Favor of Market Growth

The report encompasses several factors that have contributed to the growth of the overall market in recent years.  Accounting to the increasing demand for the product, there is a healthy market competition across the world. Among all factors, the increasing number of product innovations has had the highest impact on the growth of the overall aramid fiber market in recent years. In September 2018, Snow Peak announced the launch of a new product through the integration of aramid fiber. The company introduced a new material fabric that is directed for use in outdoor apparel. The applications of aramid fiber are not limited to a single domain and this has been a major contributor to market growth.  Increasing number of such product innovations will have a huge impact on the growth of the overall market in the forthcoming years.

 

Get Sample PDF Brochure:

www.fortunebusinessinsights.com/enquiry/request-sample-pdf/aramid-fiber-market-102183

 

Europe to Emerge Dominant; Increasing Applications in Automotive Industry will Aid Growth

The report analyzes the ongoing market trends across North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. Among all regions, the market in Europe is projected to emerge dominant in the coming years. The increasing applications of the product across diverse industry verticals by large scale companies based in this region will emerge in favor of market growth. The increasing demand for efficient fuel sources has given the platform for companies operating in this region. As of 2019, the market in Asia Pacific was worth USD 1615.7 million and this value is projected to rise at considerable pace in the coming years. The market in Asia Pacific is projected to rise at the highest CAGR during the forecast period driven by the initiatives taken by government organizations for industrial safety in countries such as India and China.

List of the Key Companies Profiled:

  • DuPont (U.S.)
  • Teijin Limited
  • Kolon Industries Inc.
  • Yantai Tayho Advanced Materials Co., Ltd.
  • X-FIPER New Material Co., Ltd.
  • HUVIS CORPORATION
  • Hyosung Corporation
  • China National Bluestar (Group) Co, Ltd.
  • Toyobo Co., Ltd.
  • Aramid Hpm, LLC.

 

Industry Developments:

  • November 2019: Teijin Aramid B.V., announced that it will be increasing its production capacity by 25%.

Inquire Before Buying This Report:

www.fortunebusinessinsights.com/enquiry/queries/aramid-fiber-market-102183

 

View Other Related Report

visual.ly/community/Others/business/standup-pouches-market-2020-research-during-ongoing-covid-19-pandemic 

www.hyt.com/hyt_cgi/adsubmit2.cgi 

ficwad.com/account/story/new 

www.tripline.net/akashh/

www.zeemaps.com/map?group=4125218 

www.salespider.com/p-23354203/akash-bainr 

knowyourmeme.com/akash

globalcatalog.com/fortunebusinessinsights1.in/en 

ficwad.com/a/akash9 

www.dead.net/member/akash-bainr

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

 

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune – 411045, Maharashtra, India.

 

Phone:

US :+1 424 253 0390

UK : +44 2071 939123

APAC : +91 744 740 1245

Email: [email protected]

 

You can also contact us/follow us on:

www.facebook.com/FortuneBusinessInsightsPvtLtd

twitter.com/FBInsightPvtLtd?s=20

www.linkedin.com/company/fortune-business-insights/

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *