Aramid Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Aramid Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global aramid fiber market size reached US$ 3.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.6 Billion by 2028, exhibiting a growth rate (CAGR) of 3.3% during 2023-2028.

Aramid fiber is a synthetic organic polymer, which is produced by spinning a liquid crystalline solution of long-chain polyamide in concentrated sulfuric acid. The molecules of this fiber are linked by strong hydrogen bonds that provide immense strength and resistance against abrasion, heat and organic solvents, along with a low melting point to the end product. It is majorly utilized for electrical insulation, producing protective clothing for firefighters, racers and military personnel, and heat shields in automotive and aerospace equipment. In the construction industry, aramid fiber is used for manufacturing fiber-reinforced concrete and corrosion-resistant thermoplastic pipes, which prolong the life of the pipeline and reduce the overall maintenance costs.

The growing automotive, aerospace, defense and construction industries are among the key factors driving the growth of the market. Furthermore, the growing demand for lightweight materials for personnel protective equipment that protect the wearer from physical, thermal, electrical and biological hazards, is also providing a thrust to the market growth. Aramid fiber is also used for the production of bullet-proof and stab-resistant products, including helmets, gloves and clothing material. Additionally, it is widely utilized for the manufacturing of products such as fishing and golf rods, bows, skis and wall materials of airplanes. The increasing industrialization and urbanization across the globe is another factor favoring the market growth. Rising urban migration is augmenting the construction of new infrastructural projects, which is catalyzing the demand for aramid fiber as an asbestos and steel substitute. Other factors, including extensive research and development (R&D) and emerging applications in the optical fiber industry, are projected to drive the market in the upcoming years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global aramid fiber market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, application and end-use industry.

Breakup by Product Type:

Meta-Aramid Fiber
Para-Aramid Fiber
Others

Breakup by Application:

Protective Fabrics
Frictional Materials
Optical Fibers
Tire Reinforcement
Rubber Reinforcement
Composites
Others

Breakup by End-Use Industry:

Aerospace and Defense
Automotive
Electronics and Telecommunication
Sports Goods
Others

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Teijin, DuPont de Nemours Inc., Yantai Tayho Advanced Materials Company, Hyosung Corporation, Toray Chemical Korea, Kolon Industries, Huvis, China National BlueStar Group Company, Taekwang Industrial, JSC Kamenskvolokno and Guangdong Charming Company.

Key Questions Answered in This Report

1. What was the size of the global aramid fiber market in 2022?
2. What is the expected growth rate of the global aramid fiber market during 2023-2028?
3. What are the key factors driving the global aramid fiber market?
4. What has been the impact of COVID-19 on the global aramid fiber market?
5. What is the breakup of the global aramid fiber market based on the product type?
6. What is the breakup of the global aramid fiber market based on the application?
7. What is the breakup of the global aramid fiber market based on the end-use industry?
8. What are the key regions in the global aramid fiber market?
9. Who are the key players/companies in the global aramid fiber market?