Global Para-Aramid Fibers Market - 2024-2031

Global Para-Aramid Fibers Market - 2024-2031

Global Para-Aramid Fibers Market reached US$ 2.9 billion in 2023 and is expected to reach US$ 4.4 billion by 2031, growing with a CAGR of 5.3% during the forecast period 2024-2031.

Due to rising demand for lightweight and high-strength materials across a wide range of end-use sectors, the global para-aramid fibers market has grown steadily. These fibers are employed in a wide range of applications, including bulletproof vests and body armor as well as reinforced materials in automotive and aeronautical structures. Major para-aramid fiber manufacturers are expanding their presence in the US market through strategic alliances, acquisitions and investments in R&D facilities, changing client expectations.

For instance, on January 27, 2022, Durak Tekstil Para Aramid Thread made its U.S. Debut at the ISPA Expo. Durak Fire Safe Para Aramid sewing thread is desirable to mattress manufacturers because of its superior heat resistance, breaking strength and non-conductive qualities. Therefore, U.S. is contributing significantly to the growth of the regional market capturing more than 3/4th of the regional market share.

Dynamics

Growing Usage in Ballistics Protection Applications

The first-of-its-kind Kevlar EXO aramid fiber is superior and more durable than even the most advanced soft body armor materials available. Kevlar provides the highest ballistics performance of any aramid fiber without relinquishing weight, resulting in the best-in-class, lightest-weight ballistics soft armor options on the market presently. Kevlar and Twaron are two examples of para-aramid fibers that are excellent in terms of strength, heat resistance and chemical stability.

For instance, on April 14, 2023, the most significant aramid fiber invention in over 50 years, Kevlar EXO aramid fiber was introduced by DuPont. It is an entirely new technology platform designed to serve countless applications where protection and performance are needed in the face of extreme and demanding conditions. The first of many applications for Kevlar EXO, which will provide an unparalleled blend of light weight, flexibility and aramid fiber protection, will be life protection.

Driving Market Expansion Through High-Performance Para-Aramid Fibers

The market's reach is expanded by the emergence of high-performance para-aramid fibers, which address specific applications that were previously unfulfilled by traditional materials. Expanding product offers encourage innovation and market rivalry, which propels additional research and development in the para-aramid fiber industry.

Teijin Aramid Unveiled Technora and Twaron, Two High-Performance Para-Aramid Fibers. Worldwide, a wide range of markets and applications, including automotive, maritime, ballistic protection, civil engineering, protective apparel, optical fiber cables and oil and gas, employ its products. The high-pressure rating, low weight, outstanding adaptability and corrosion resistance are the distinguishing features of Twaron-reinforced thermoplastic pipes.

Limited Product Differentiation

Limited product differentiation may hamper innovation in the para-aramid fibers sector. Manufacturers are probably less likely to invest in R&D efforts if they perceive little chance to deliver novel features or solve unmet market needs. This lack of innovation limits the industry's capacity to evolve and grab new market niches.

In regions where para-aramid fibers compete with well-known materials such as carbon fibers or high-performance polymers, a lack of distinction might stymie commercial adoption. Potential customers may be hesitant to use para-aramid fibers unless they offer apparent advantages over existing options, impeding market growth.

Segment Analysis

The global para-aramid fibers market is segmented based on application, end-user and region.

Next-generation aramid Fibers with Electrical Conductivity

The development of such innovative materials not only generates new markets but also encourages innovation in a variety of sectors. It promotes cooperation among engineers, product designers and material scientists to investigate new uses and expand the realm of what is conceivable using innovative materials. These revolutionary fibers move the para-aramid fibers market into new realms of technological innovation and market expansion by broadening application options, addressing rising trends and providing competitive benefits.

For instance, KIST invented revolutionary super fiber-carbon nanotubes combined with ""golden fiber"" aramid to create conducive ""black fiber"" from Next-Generation aramid fiber with electrical conductivity.

Geographical Penetration

Enhanced Supply Chain Reliability Fuels Growth in Asia-Pacific

The Asia-Pacific market will receive a more consistent and dependable supply of para-aramid fibers owing to an extended industry chain. This is essential to ensure ongoing production operations and on-time delivery to customers for companies whose products depend on these fibers. For instance, in 2023, Sinochem International debuted at the China International Optoelectronic Exposition 2023 on September 6–8, 2023, exhibiting its complete range of para-aramid products. These creative solutions serve as non-metallic reinforcing materials for optical-fiber cable applications and are specifically designed to suit the demands of the optical communication sector.

High-speed information networks depend heavily on optical communication links. Higher speeds, more capacity and a longer reach are requirements for optical transport networks in the age of next-generation communication technologies. Thus, greater performance characteristics such as increased strength, improved modulus, longer lifespan, lighter weight, less creep and increased corrosion resistance are required of optical communication cables. Therefore, this expansion contributes significantly to the growth of the China para-aramid fibers market.

COVID-19 Impact Analysis

Due to travel restrictions, plant closures and lockdown precautions, the pandemic caused disruptions in supply networks. Due to the disruption in the supply of equipment and raw materials required for the production of para-aramid fibers, manufacturing and project timeframes were delayed.

There was a rise in demand for para-aramid fibers in some industries notwithstanding the general decline. For example, the necessity for protection against the virus caused a spike in demand for para-aramid fibers, which are used in personal protective equipment, including masks and body armor.

Russia-Ukraine War Impact Analysis

Para-aramid fibers, among other raw materials utilized in numerous industries, are produced in large quantities in Ukraine. A war might cut off these resources, which would have an impact on the manufacturing of para-aramid fibers globally. The transfer of raw materials and completed products could be further hampered by disruptions to the region's ports, transportation routes and logistical infrastructure, which could result in a lack of supply and unstable prices.

Demand could have witnessed a slight decline in industries directly impacted by the conflict, including the building, infrastructure and automotive industries in the region. On the contrary, there can be a rise in the market for protective gear and apparatus, such as para-aramid fibers used in military uses.

By Application

● Ballistic Protection

● Protective Clothing

● Rubber Reinforcement

● Friction Materials

● Sports and Leisure

● Tire Reinforcement

● Others

By End-User

● Aerospace & Defense

● Transportation

● Electronics and Electricals

● Energy & Infrastructure

● Sporting Goods

● Others

By Region

● North America
U.S.
Canada
Mexico

● Europe
Germany
UK
France
Italy
Russia
Rest of Europe

● South America
Brazil
Argentina
Rest of South America

● Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific

● Middle East and Africa

Key Developments

● On April 14, 2023, DuPont introduced the Kevlar EXO aramid fiber.

● On September 7, 2023, at the China International Optoelectronic Exposition, 2023, Sinochem International debuted and displayed its full range of para-aramid products.

● On January 27, 2022, Durak Tekstil Para Aramid Thread has made its U.S. Debut at the ISPA Expo.

Competitive Landscape

The major global players in the market include SIKA AG, Nuvoco Vistas, BASF SE, Euclid Chemical Company, Butterfield Color, W. R. Meadows, Inc., BRICKFORM, Interstar Materials, Cemstone Products Company and L.M. Scofield Company.

Why Purchase the Report?

● To visualize the global para-aramid fibers market segmentation based on application, end-user and region, as well as understand key commercial assets and players.

● Identify commercial opportunities by analyzing trends and co-development.

● Excel data sheet with numerous data points of para-aramid fibers market-level with all segments.

● PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.

● Product mapping available as excel consisting of key products of all the major players.

The global para-aramid fibers market report would provide approximately 53 tables, 49 figures and 185 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies