Aramid Fiber Market: Trends, Opportunities and Competitive Analysis [2024-2030]

Aramid Fiber Market Trends and Forecast

The future of the global aramid fiber market looks promising with opportunities in safety and protection, frictional material, rubber reinforcement, and electrical transmission applications. The global aramid fiber market is expected to reach an estimated $4 billion by 2030 with a CAGR of 5% from 2023 to 2030. The major drivers of growth for this market are increasing usage of aramid fiber in brake pads, clutches, gaskets, linings, and tires in automotive and the growing demand for protective clothing from defense and industrial sectors.

• Lucintel forecasts that safety and protection will remain the largest application by value and volume due to increasing in government initiatives for the safety of the employees and public.
• Para aramid fiber is expected to remain the largest market by value and volume over the forecast period mainly driven by its increasing use in automotive, defense, and industrial sector.
• North America is expected to remain the largest market and due to increasing demand for lightweight and flexible materials from the automotive and military & defense industries. APAC is expected to witness the highest growth over the forecast period

North America is expected to remain the largest in the Aramid Fiber Market

1. United States: Companies like DuPont and Teijin are expanding production capacities for aramid fibers. DuPont announced investments to enhance its Kevlar production facilities. The US government aims to support domestic manufacturing and innovation in advanced materials through initiatives like the Advanced Functional Fabrics of America (AFFOA) program.

2. Netherlands: Dutch companies such as Teijin Aramid and SABIC are investing in research and development of aramid fiber applications. Teijin Aramid announced advancements in lightweight and high-strength fibers. The Dutch government supports innovation in advanced materials through programs like the Dutch National Growth Fund.

3. Japan: Companies like Toray Industries and Mitsubishi Chemical Corporation are focusing on developing aramid fiber composites for automotive and aerospace industries. Toray Industries announced partnerships for lightweight material development. The Japanese government promotes research and development in advanced materials through initiatives like the Japan Society for the Promotion of Science (JSPS).

4. China: Chinese firms like Yantai Tayho Advanced Materials Co., Ltd. and Sinoma Science & Technology Co., Ltd. are expanding production capacities for aramid fibers. Yantai Tayho announced investments in new manufacturing facilities. The Chinese government supports the growth of the aramid fiber industry through policies promoting innovation and technological development.

Emerging Trends in the Aramid Fiber Market

Emerging trends, which have a direct impact on the dynamics of the industry, includes increasing penetration of aramid fiber advances in head protection application and aramid fiber wrapping for reinforced concrete columns.

A total of 92 figures / charts and 62 tables are provided in this 155-page report to help in your business decisions. A sample figure with insights is shown below.

Aramid Fiber Market by Segment

The study includes a forecast for the global aramid fiber market by application, type, end use industry and region as follows:

Aramid Fiber Market by Application [Value ($M) and Volume (M lbs) Shipment Analysis for 2018 - 2030]:

• Safety and Protection
• Frictional Material
• Rubber Reinforcement
• Electrical Transmission (Optical Fiber)
• Others

Aramid Fiber Market by Type [Value ($M) and Volume (M lbs) Shipment Analysis for 2018 - 2030]:

• Meta Aramid Fiber
• Para Aramid Fiber

Aramid Fiber Market by End Use Industry [Value ($M) and Volume (M lbs) Shipment Analysis for 2018 - 2030]:

• Aerospace
• Automotive
• Electronics and Telecommunication
• Protective Clothing
• Others

Aramid Fiber Market by Region [Value ($M) and Volume (M lbs) Shipment Analysis for 2018 - 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Aramid Fiber Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies aramid fiber companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the aramid fiber companies profiled in this report includes.

• Kolon Industries Inc.
• E.I. Du Pont de Nemours
• Teijin Aramid
• Yantai Tayho Advanced Materials
• Hyosung Corporation

Aramid Fiber Market Insight

Features of Aramid Fiber Market

• Market Size Estimates: Aramid fiber market size estimation in terms of value ($M) and volume ( M lbs).
• Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Market size by application, type, end use, and region
• Regional Analysis: Aramid fiber market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different application, type, end use, and regions for the aramid fiber market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the aramid fiber market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the aramid fiber market size?

Answer: The global aramid fiber market is expected to reach an estimated $4.6 billion by 2028.

Q2. What is the growth forecast for aramid fiber market?

Answer: The aramid fiber market is expected to grow at a CAGR of 6.1% from 2021 to 2027.

Q3. What are the major drivers influencing the growth of the aramid fiber market?

Answer: The major drivers of growth for this market are increasing usage of aramid fiber in brake pads, clutches, gaskets, linings, and tires in automotive and the growing demand for protective clothing from defense and industrial sectors.

Q4. What are the major applications for aramid fiber?

Answer: Safety and protection and frictional materials are the major applications for aramid fiber.

Q5. What are the emerging trends in aramid fiber market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, includes increasing penetration of aramid fiber advances in head protection application and aramid fiber wrapping for reinforced concrete columns.

Q6. Who are the key aramid fiber companies?

Answer: Some of the key aramid fiber companies are as follows:

• E.I. Du Pont de Nemours
• Teijin Aramid
• Yantai Tayho Advanced Materials Co. Ltd.
• Shenzhen LongPont Co. Ltd.
• X-FIPER New Material Co., Ltd
• China National Bluestar Co. ltd
• Huvis Corporation
• Kermel
• X-Fiper New Material

Q7. Which aramid fiber product segment will be the largest in future?

Answer: Lucintel forecasts that Para aramid fiber is expected to remain the largest market by value and volume over the forecast period mainly driven by its increasing use in automotive, defense, and industrial sector. Meta aramid is expected to witness highest growth over the forecast period.

Q8. In aramid fiber market, which region is expected to be the largest in next 5 years?

Answer: North America is expected to remain the largest region and APAC witness the highest growth over next 5 years.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

• Q.1 What are some of the most promising potential, high-growth opportunities for the global aramid fiber market by application (safety and protection, frictional material, rubber reinforcement, electrical transmission, and others), type (para aramid fiber and meta aramid fiber), end use (aerospace, automotive, electronics and telecommunication, protective clothing, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2 Which segments will grow at a faster pace and why?
• Q.3 Which regions will grow at a faster pace and why?
• Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the global aramid fiber market?
• Q.5 What are the business risks and threats to the global aramid fiber market?
• Q.6 What are emerging trends in the global aramid fiber market and the reasons behind them?
• Q.7 What are some changing demands of customers in the global aramid fiber market?
• Q.8 What are the new developments in the global aramid fiber market? Which companies are leading these developments?
• Q.9 Who are the major players in the global aramid fiber market? What strategic initiatives are being implemented by key players for business growth?
• Q.10 What are some of the competitive products and processes in the global aramid fiber market, and how big of a threat do they pose for loss of market share via material or product substitution?
• Q.11 What M&A activities did take place in the last five years in the global aramid fiber market?