USD 3.12 Billion
Aramid Fiber Market Size, Share, Growth Analysis, By Product Type(Para-aramid fibers, meta-aramid fibers), By Application(Security & protection, frictional materials, electrical insulation, tire reinforcement), By End-use Industry(Aerospace & defense, automotive, electrical & electronics, oil & gas), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2317 |
Region:
Global |
Published Date: April, 2024
Pages:
189
|Tables:
92
|Figures:
76
Aramid Fiber Market Insights
Global Aramid Fiber Market size was valued at USD 3.12 Billion in 2022 and is poised to grow from USD 3.47 Billion in 2023 to USD 8.15 Billion by 2031, at a CAGR of 11.26% during the forecast period (2024-2031).
The global aramid fiber market is experiencing significant growth globally. Our report contains detailed information on the value chain analysis for the Aramid Fiber market, which manufacturers can use to gain a competitive edge during the projected period. Aramid fibers, known for their exceptional strength, heat resistance, and high modulus, have become crucial in sectors such as aerospace, automotive, defense, electrical, and electronics.
The aerospace and defense sectors, in particular, have emerged as major consumers of aramid fibers due to their high strength-to-weight ratio and resistance to heat and chemicals. These fibers are extensively used in the manufacturing of aircraft components, protective clothing for military personnel, and ballistic protection materials.
Additionally, the automotive industry has also played a significant role in driving the market growth, fueled by the need for lightweight materials to enhance fuel efficiency and reduce emissions. Aramid fibers are utilized in the production of various automotive components, including tires, hoses, and gaskets, contributing to improved performance and safety. On the other hand, meta-aramid fibers like Nomex possess excellent heat and flame resistance, making them suitable for protective clothing, electrical insulation, and filtration applications. Geographically.
The aramid fiber market is expected to continue its upward trajectory, driven by the growing demand for lightweight and high-performance materials across various industries. Manufacturers are focusing on developing innovative aramid fiber products to meet the specific requirements of end-use industries.
Advancements in production technologies and increasing research and development activities are anticipated to further fuel the market growth. However, certain challenges, such as high production costs and competition from alternative materials, may hinder the market growth to some extent. Overall, the aramid fiber market presents lucrative opportunities for stakeholders, with the potential for significant growth in the coming years.
US Aramid Fiber Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Aerospace & defense
Fastest Growth
Aerospace & defense
Growth Rate
11.26% CAGR
Global Aramid Fiber Market ($ Bn)
Country Share for North America Region (%)
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Aramid Fiber Market Segmental Analysis
The global aramid fiber market can be segmented based on product type, application, end-use industry and region. Based on product type, the market can be divided into para-aramid fibers, meta-aramid fibers. Based on application, the market can be categorized into security & protection, frictional materials, electrical insulation, tire reinforcement. By end-use industry, the market can be segmented into aerospace & defense, automotive, electrical & electronics, oil & gas, construction. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Product Type
The largest market segment is the para-aramid fibers segment. Para-aramid fibers, such as Kevlar, have gained immense popularity and widespread usage across various industries due to their exceptional strength, high modulus, and thermal stability. These fibers are extensively used in the manufacturing of aircraft components, including fuselage panels, wings, and rotor blades, due to their high strength-to-weight ratio and resistance to heat and chemicals. Moreover, para-aramid fibers are utilized in the production of protective clothing for military personnel, such as bulletproof vests and helmets, providing excellent ballistic protection
On the other hand, the fastest growing segment by product type in the aramid fiber market is the meta-aramid fibers segment. Meta-aramid fibers, such as Nomex, possess excellent heat and flame resistance properties, making them ideal for applications that require protection from extreme heat and fire hazards. The demand for meta-aramid fibers has been rising rapidly in industries such as protective clothing, electrical insulation, and filtration due to their unique properties and the growing emphasis on safety and protection.
Analysis By End-use Industry
The largest market segment in the aramid fiber market is the aerospace and defense sector. The aerospace and defense industry is a significant consumer of aramid fibers due to their exceptional strength, heat resistance, and high modulus. Aramid fibers find extensive applications in this sector, including the manufacturing of aircraft components, protective clothing for military personnel, and ballistic protection materials. The aerospace and defense sector's demand for lightweight and high-performance materials has propelled the growth of the aramid fiber market.
On the other hand, the fastest growing segment in the aramid fiber market is the automotive industry. The automotive sector has been rapidly adopting aramid fibers to meet the increasing demand for lightweight materials aimed at improving fuel efficiency and reducing emissions. Aramid fibers are used in various automotive applications, such as tire reinforcements, hoses, gaskets, and other components that require high strength and durability. The automotive industry's focus on enhancing performance, safety, and sustainability has been driving the growth of the aramid fiber market in this segment.
Global Aramid Fiber Market By Type
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Aramid Fiber Market Regional Insights
The largest market region in the aramid fiber market is Asia Pacific. The Asia Pacific region has emerged as a dominant player in the aramid fiber market due to several factors. The region's rapid industrialization, urbanization, and infrastructure development have led to a surge in demand for lightweight and high-performance materials across various industries. Additionally, the presence of major manufacturing hubs and a growing automotive sector in countries like China, Japan, South Korea, and India has further contributed to the region's market dominance. The aerospace and defense industries in these countries are also witnessing significant growth, driving the demand for aramid fibers in the region.
On the other hand, the fastest growing region in the aramid fiber market is North America. The North American region has experienced notable growth in recent years, driven by factors such as increasing industrialization, rising disposable income, and growing investments in infrastructure projects. The automotive industry in countries like US and Canada is flourishing, with a focus on lightweight materials for improved fuel efficiency and reduced emissions. This has created a significant demand for aramid fibers in the region.
Global Aramid Fiber Market By Geography
- Largest
- Fastest
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Aramid Fiber Market Dynamics
Drivers
Increasing Demand For Lightweight Materials In Various Industries
- Industries such as aerospace, automotive, and construction are actively seeking lightweight solutions to improve fuel efficiency, enhance performance, and reduce emissions. Aramid fibers, with their high strength-to-weight ratio, are a preferred choice for these applications. The exceptional strength and durability of aramid fibers enable manufacturers to reduce the weight of components and structures without compromising on performance or safety. This driver is expected to propel the growth of the aramid fiber market as industries continue to prioritize lightweight materials in their product development.
Restraints
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Aramid Fiber Market Competitive Landscape
The competitive landscape in the aramid fiber market is characterized by the presence of several key players striving to gain a competitive edge and capture a significant market share. These companies engage in strategies such as mergers and acquisitions, partnerships, product innovations, and expansions to strengthen their market position and meet the evolving customer demands. The aramid fiber market's competitive landscape is dynamic and driven by constant innovation and strategic initiatives undertaken by key players. As the market continues to grow, competition among these players is expected to intensify, leading to further advancements in aramid fiber technologies and increased market penetration.
Top Player’s Company Profiles
- Yantai Tayho Advanced Materials Co. Ltd. (China)
- Hyosung Corporation (South Korea)
- Kermel (France)
- SRO Aramid Co., Ltd. (China)
- Huvis Corporation (South Korea)
- TAYHO Technology Co., Ltd. (China)
- China National Bluestar (Group) Co. Ltd. (China)
- Aramid Hpm Co., Ltd. (China)
- Toray Industries Inc. (Japan)
- SRO Group (China)
- Honeywell International Inc. (United States)
- Kureha Corporation (Japan)
- Taekwang Industrial Co., Ltd. (South Korea)
- TORAYCF (Taiwan)
- Kolon Global Corporation (South Korea)
- SRF Limited (India)
- SRO Group (India)
Recent Developments
- In April 2023, DuPont announced Kevlar® EXO™, a groundbreaking next-generation aramid fiber. It will be an unprecedented combination of lightness, flexibility and protection.
- In September 2022, Mussel Polymers Inc. a specialty materials and coatings startup company announced that it successfully coated carbon and aramid fibers with its bio-inspired poly(catechol-styrene) (PCS) catechol-containing polymer, which it says is a step forward in producing lighter, stronger fiber-reinforced composites.
- In June 2022, Teijin Aramid B.V. introduced the Woven Matrix concept for the easy manufacturing of various ballistic protection solutions. The company's high-performance para-aramid, Twaron, is used to create the woven matrix.
Aramid Fiber Key Market Trends
- Growing demand for sustainable and eco-friendly aramid fiber solutions: In response to this trend, market players are focusing on the development of bio-based aramid fibers derived from renewable sources. These bio-based aramid fibers offer similar performance characteristics to traditional aramid fibers while reducing the carbon footprint and dependence on fossil fuels. The trend towards sustainable aramid fiber solutions is driven by various factors, including stringent environmental regulations, corporate sustainability initiatives, and growing consumer awareness of the importance of eco-friendly materials. As this trend gains momentum, market players are expected to continue innovating and introducing sustainable aramid fiber options to meet the evolving market demands and contribute to a greener future.
Aramid Fiber Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, The Aramid Fiber market is poised for significant growth in the coming years, driven by various factors and offering substantial future scope. The aramid fiber market is poised for significant growth and holds immense potential for the future. The market's expansion is fueled by the increasing demand for lightweight and high-performance materials across various industries. The aerospace and defense sector stands as the largest market segment, driven by the need for aramid fibers' exceptional strength and thermal stability in aircraft components and protective clothing. The automotive industry emerges as the fastest-growing segment, leveraging aramid fibers' lightweight properties to enhance fuel efficiency and safety. Moreover, the Asia Pacific region dominates the market, spearheaded by countries like China, Japan, and South Korea, owing to their robust manufacturing capabilities and thriving end-use industries. Looking ahead, the aramid fiber market is poised to witness continued growth driven by factors such as technological advancements, sustainability initiatives, and expanding applications in emerging economies. As industries strive for advanced materials, aramid fibers are expected to play a vital role in shaping the future of lightweight and high-performance solutions across a wide range of sectors.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 3.12 Billion |
| Market size value in 2031 | USD 8.15 Billion |
| Growth Rate | 11.26% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Aramid Fiber Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Aramid Fiber Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Aramid Fiber Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Aramid Fiber Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Aramid Fiber Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Aramid Fiber Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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