Aramid Fiber Market worth $7.6 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, Sept. 15, 2023 /PRNewswire/ -- The report "Aramid Fiber Market by Type (Para-Aramid Fiber, Meta-Aramid Fiber), Application (Security & Protection, Frictional Materials, Industrial Filtration, Optical Fibers, Rubber Reinforcement, Tire Reinforcement), Region - Global Forecast to 2028", size was USD 4.7 billion in 2023 to USD 7.6 billion by 2028, at a CAGR of 9.9% from 2023 to 2028.

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252 – Tables
49 – Figures
233 – Pages

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Aramid fibers, synthetic polymers renowned for their exceptional qualities such as high tensile strength, low density, resilience to extreme temperatures, and resistance to corrosive environments, play a pivotal role across several industries. Notably, aramid fibers, with an average strength five times greater than steel, boast a high melting point and excel in temperatures ranging from 400°C to 600°C. They also exhibit valuable dielectric properties. These remarkable attributes make aramid fibers indispensable in diverse sectors, including defense, personal protection equipment (PPE), automotive, telecommunications, oil & gas, iron & steel, aerospace, and mechanical rubber goods. Their predominant application lies in security & protection due to their ability to withstand heat, lightweight nature, and impressive load-bearing capacity.  Among the types of aramid fibers, Para aramid fiber takes the lead as the largest segment within the aramid fiber market. Furthermore, in 2022, Europe emerged as the primary market for aramid fiber in terms of value. This dominance can be attributed to the escalating demand for lightweight and flexible materials within the automotive, military & defense industries, serving a multitude of applications.

Para-aramid fiber was the largest type for aramid fiber market in 2022 in terms of value.

The global para-aramid fiber market is experiencing significant growth driven by several key factors. One prominent driver is the increasing demand for protective apparel, supported by the aerospace industry's requirements for long-lasting aramid-based composites in high-stress areas. This demand is fueling the expansion of the para-aramid fiber market on a global scale. Furthermore, advancements in technology within the transportation industry, such as the implementation of noise reduction, vibration control, and harshness mitigation technologies, are contributing to the growing need for aramid fibers. These fibers find applications in critical areas like braking systems, coach chassis, and vehicle interiors, all aimed at reducing overall weight and enhancing performance.

Security & protection segment is estimated to be the largest end-use industry in aramid fiber market between 2023 and 2028 in terms of value.

Aramid fibers have garnered widespread utilization in security and protection applications, thanks to their remarkable attributes including robust strength, resistance to abrasion and organic solvents, and the ability to maintain fabric integrity at elevated temperatures. These applications span across military, industrial, and civil sectors. The demand for aramid fibers in providing thermal and ballistic protection has notably surged in civil law enforcement and armed forces, driven by the escalating challenges posed by insurgency and terrorism. Furthermore, the stringent regulatory framework imposed by government bodies and relevant agencies in developed economies, such as European nations and the United States, plays a pivotal role in propelling the growth of the aramid fiber market.

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Asia Pacific is estimated to be the fastest-growing region for the aramid fiber market during the forecast period from 2023 to 2028

The expansion of the aramid fiber market in the Asia Pacific region is primarily due to the increasing demand from the automotive and defense sectors. This growth is further fueled by a growing emphasis on ensuring the safety of workers in various workplaces, leading to an increased need for protective clothing. Aramid fiber is particularly favored due to its inherent properties that enable lightweight fabric production. Notably, the majority of this growth in the Asia Pacific region is anticipated to be concentrated in key countries such as India, China, South Korea, and various Southeast Asian nations.

Market Players :

The key market players identified in the report Teijin Limited(Japan), DuPont de Numerous, Inc. (US), Yantai Tayho Advanced Materials Co., Ltd. (China), Hyosung Corporation (South Korea), Toray Industries, Inc. (Japan), Kolon Industries Inc. (South Korea), Huvis Corp. (South Korea), Kermel (France), China National Bluestar (Group) Co., Ltd. (China), and SRO Aramid (Jiangsu) Co. Ltd. (China).

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