Global Para-Aramid Market Report 2023: Sector is Expected to Reach $4.11 Billion by 2027 at a CAGR of 4.64%
DUBLIN, May 11, 2023 /PRNewswire/ -- The "Global Para-Aramid Market Size, Trends and Growth opportunity, By Type, By Application, Regional Outlook, Competitive Market Share & Forecast, 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global para-aramid market was valued at USD 3.11 billion in 2021 and is expected to reach USD 4.11 billion by 2027, at a CAGR of 4.64% from 2022 to 2027.
Companies Mentioned
- DowDuPont
- Teijin Aramid
- JSC Kamenskvolokno
- Hyosung
- Toray Chemical Korea Inc
- SRO Aramid Co. Ltd
- Kolon Industries Inc
- FIPER New Material Co.
- Huvis Corporation
- Aramid Hpm LLC
Para-Aramid is a synthetic fibre which is used in the manufacturing of safety gloves and other safety equipment. Para-aramid gloves resist abrasion, but the primary motivation for using the fibre is its strong heat resistance.
The molecules which are combined by strong hydrogen bonds are proficiently transferred to mechanical stress and allow for the use of chains with a low molecular weight. Aramid fibre is mostly used for reinforcement in composites such as sports goods, aviation, and military vehicles, and in fabrics in clothing such as bulletproof jackets and fire safety garments.
Market Drivers
Increasing demand for para-aramid in many sectors, such as healthcare, oil and gas, manufacturing, and others, is the key driving factor expected to boost the global para-aramid market growth.
Furthermore, growing use of para-aramid fibre for composites in military vehicles, and aircrafts which is projected to propel the market growth during this forecast year 2027. Moreover, an increase in onshore and offshore drilling activities coupled with a thriving shale oil and gas industry will drive market growth.
Market Restraints
However, the availability of other alternatives or substitutes with better properties is the major restraining factor that is expected to hinder the global para-aramid market growth.
Market Segmentation
By Type
- Para-Aramid Filament
- Para-Aramid Staple Fiber
- Para-Aramid Shortcut
- Para-Aramid Pulp
By Application
- Rubber Reinforcement
- Security Protection
- Tires
- Rope
- Optical Fiber Reinforcements
- Frictional & Sealing Materials
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/br0wlo
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SOURCE Research and Markets
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