Aramid Fiber Market Report
RA06778
Aramid Fiber Market by Product Type (Para-Aramid and Meta-Aramid), Application (Security & Protection, Frictional Materials, Rubber Reinforcement, Optical Fibers, Tire Reinforcement, Electrical Insulation, Aerospace, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032
Aramid Fiber Overview
Aramid fibre is a strong and light synthetic material that is well-known for its strength and heat resistance. Its extraordinary properties are the result of the well-coordinated long chains of molecules that make it up. Aramid fibres are widely used in the aerospace, defence, automobile, and sports product industries. They are often used in applications where toughness and wear resistance are crucial. Due to their high tensile strength, they are a great option for reinforcing materials since they have a weight-to-strength ratio that makes it five times stronger than steel.
Aramid fibers are excellent for protection apparel such as bulletproof vests and helmets because they are abrasion resistant and have low flammability. In addition, aramid fibers have outstanding heat resistance qualities which qualify them for use in applications involving high temperatures. They are useful in thermal insulation materials and flame-resistant textiles because they can tolerate extremely high temperatures without melting or deteriorating.
Global Aramid Fiber Market Analysis
The global aramid fiber market size was $3.89 billion in 2022 and is predicted to grow with a CAGR of 7.9%, by generating a revenue of $8.03 billion by 2032.
COVID-19 Impact on Global Aramid Fiber Market
The COVID-19 pandemic had a significant impact on the aramid fiber market. Due to lockdowns and restrictions imposed by governments worldwide, many industries experienced a slowdown or temporary shutdown, leading to a decrease in demand for aramid fiber. Aramid fibers are commonly used in various sectors such as automotive, aerospace, defense, and electronics. However, with travel restrictions and reduced consumer spending during the pandemic, the demand for automobiles and air travel decreased, affecting the demand for aramid fiber in these industries. Furthermore, disruptions in global supply chains, including raw material availability and transportation delays, also affected the production and distribution of aramid fiber. This led to reduced production capacities and difficulties in meeting customer requirements, further impacting the market.
However, as economies gradually recover and restrictions ease, the demand for aramid fiber is expected to pick up. Industries like automotive and aerospace are likely to rebound, which will drive the market for aramid fiber. Additionally, the increasing emphasis on safety and protective equipment during the pandemic has highlighted the importance of aramid fiber in manufacturing personal protective equipment (PPE), leading to new opportunities for the market.
Overall, while the COVID-19 pandemic initially had a negative impact on the aramid fiber market. The gradual recovery of economies and the growing importance of safety applications are expected to contribute to its revival in the future.
Benefits of Aramid Fiber in Various Industries to Drive the Market Growth
Aramid fiber is known for its exceptional strength. It is five times stronger than steel on an equal weight basis, making it an excellent choice for applications that require robust materials. Despite its high strength, aramid fiber is relatively lightweight. This characteristic makes it ideal for applications where weight reduction is crucial, such as aerospace and automotive industries. Aramid fiber is highly heat-resistant and does not readily ignite or burn. It has a high melting point and retains its strength even at elevated temperatures. This makes it valuable in applications where fire resistance is critical, such as protective clothing and firefighting equipment. Aramid fiber exhibits minimal shrinkage or elongation under various environmental conditions. It maintains its shape and size even when exposed to changes in temperature or humidity, ensuring stability in applications where precise dimensions are essential. Excellent electrical insulating qualities may be found in aramid fiber. It resists electric arcs and sparks and does not conduct electricity. Overall aramid fiber is a useful material for a variety of applications in different sectors because of its high strength, lightweight design, chemical, heat, abrasion, and dimensional stability resistance, as well as electrical insulation and low thermal conductivity. Growing use of aramid fiber in various industries is likely to boost the market growth.
Limitations in Aramid Fiber to Restrain the Market Growth
Aramid fibers are susceptible to degradation when exposed to ultraviolet (UV) radiation. Prolonged exposure to sunlight can cause the fibers to weaken and lose their structural integrity. Because of their tendency to absorb moisture, aramid fibres' physical characteristics may suffer, and their strength and stiffness may be reduced in damp or moist surroundings. Although aramid fibers possess high heat resistance, they are not inherently flame-resistant. When exposed to flames or high temperatures, they can melt, burn, or shrink. This makes them less suitable for applications requiring fire-resistant materials. Moreover, aramid fibers can be affected by certain chemicals and solvents. Exposure to strong acids or alkalis can lead to degradation, weakening the fibers' performance and durability. Also, these fibers are generally more expensive compared to other synthetic fibers like nylon or polyester. The manufacturing process and raw material costs contribute to the higher price, making them less economically viable for some applications. All these factors are likely to limit the adoption of aramid fibers in several application areas, thus hindering the market growth.
Advancements in Aramid Fiber to Drive Excellent Opportunities for Future
In the future, aramid fiber is expected to undergo several upgrades and improvements. These upgrades will enhance its performance and make it even more versatile for various applications. Future advancements may focus on making aramid fiber more resistant to a wider range of chemicals, expanding its utility in industries where chemical exposure is a concern. Engineers could work on reducing the weight of aramid fiber without compromising its strength, making it an even more attractive option for lightweight applications. Aramid fiber might be integrated with smart technology, allowing it to have functionalities such as sensing, monitoring, or data transmission capabilities. These potential upgrades in aramid fiber could open new possibilities and applications in industries such as aerospace, automotive, protective gear, construction, and many others.
Global Aramid Fiber Market, by Product, 2022
The para-aramid sub-segment accounted for the highest market share in 2022. Para-aramid fibers have several positive points that make them highly desirable in various applications. These fibers can be used in settings where exposure to corrosive substances is expected because of their strong chemical resistance. Even when exposed to different acids & bases and solvents, they hold their stability and retain their characteristics. Para-aramid fibers exhibit excellent resistance to abrasion, making them highly durable. They can withstand repeated rubbing or scraping without significant wear or loss of strength, ensuring longevity in demanding applications. These fibers have good dimensional stability, meaning they maintain their shape and size even under changing environmental conditions. They are less prone to stretching or shrinking, ensuring consistent performance over time. Para-aramid fibers have excellent electrical insulation properties, making them suitable for applications requiring electrical resistance. They do not conduct electricity, and hence can reduce the risk of electrical hazards. These fibers are naturally flame resistant and have a low flammability. They are perfect for applications where fire safety is a concern since they do not melt or leak when exposed to fire. These fibers are resistant to ultraviolet (UV) radiation, which allows them to maintain their properties and strength when exposed to sunlight over extended periods. This characteristic makes them suitable for outdoor applications.
Global Aramid Fiber Market, by Application, 2022
The security & protection sub-segment accounted for the highest market share in 2022. Security and protection are the dominant application of aramid fiber due to its exceptional properties that make it an ideal choice for safeguarding against various threats. Aramid fibres are popular choice for manufacturing materials because to their excellent strength-to-weight ratio, outstanding abrasion resistance, and remarkable heat and flame resistance. Aramid fibres have exceptional tensile strength due to their unique molecular structure, which allows them to sustain high levels of stress or tension without breaking. Aramid fibre is a reliable material for applications such as ballistic protection, and hence it is used in body armour, helmets, and bulletproof vests.
Global Aramid Fiber Size & Forecast, by Region, 2022-2032
The Europe aramid fiber market generated the highest revenue in 2022. Europe is the dominant region for the use of aramid fiber because it has a strong focus on research and development in advanced materials. High-quality aramid fibers have been created because of significant investments made in science and research by European nations. These fibers excel in a variety of applications, including aerospace, automotive, and protective apparel, because to their great strength and heat resistance. Aramid fibers are in high demand in the region because European firms have embraced and used them in their manufacturing processes. Furthermore, European regulations and safety standards often require the use of aramid fibers in specific applications, further driving their dominance in the region.
Competitive Scenario in the Global Aramid Fiber Market
Product development and geographic expansion are common strategies followed by major market players. There are several major players functioning in the highly competitive global market. Some of the leading aramid fiber market players are Teijin Ltd., Yantai Tayho Advanced Materials Co, E. I. du Pont de Nemours and Company (DowDuPont), Hyosung Corp., Toray Chemicals South Korea, Inc., Kermel S.A, Kolon Industries, Inc., Huvis Corp., China National Bluestar (Group) Co., Ltd., and SRO Aramid (Jiangzu) Co., Ltd.
| Aspect | Particular |
| Historical Market Estimations | 2020-2022 |
| Base Year for Market Estimation | 2022 |
| Forecast Timeline for Market Projection | 2023-2032 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Product Type |
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| Segmentation by Application |
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| Key Companies Profiled |
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Q1. What is the size of the global aramid fiber market?
A. The size of the global aramid fiber market was over $3.89 billion in 2022 and is projected to reach $8.03 billion by 2032.
Q2. Which are the major companies in the Aramid Fiber market?
A. Teijin Ltd., China National Bluestar (Group) Co., Ltd., and SRO Aramid (Jiangzu) Co., Ltd. are some of the key players in the global aramid fiber market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Europe region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What are the strategies opted by the leading players in this market?
A. Agreement and investment are the two key strategies opted by the operating companies in this market.
Q5. Which companies are investing more on R&D practices?
A. Teijin Ltd., Yantai Tayho Advanced Materials Co, E. I. du Pont de Nemours and Company (DowDuPont), Hyosung Corp., Toray Chemicals South Korea, Inc., Kermel S.A, Kolon Industries, Inc., Huvis Corp., China National Bluestar (Group) Co., Ltd., and SRO Aramid (Jiangzu) Co., Ltd. are the companies investing more on R&D activities for developing new products and technologies.
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1. RESEARCH METHODOLOGY
1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters
1.5. Market size estimation
1.5.1. Top-down approach
1.5.2. Bottom-up approach
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2. REPORT SCOPE
2.1. Market definition
2.2. Key objectives of the study
2.3. Report overview
2.4. Market segmentation
2.5. Overview of the impact of COVID-19 on Global Aramid Fiber Market
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3. EXECUTIVE SUMMARY
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4. MARKET OVERVIEW
4.1. Introduction
4.2. Growth impact forces
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.3. Market value chain analysis
4.3.1. List of raw material suppliers
4.3.2. List of manufacturers
4.3.3. List of distributors
4.4. Innovation & sustainability matrices
4.4.1. Technology matrix
4.4.2. Regulatory matrix
4.5. Porter’s five forces analysis
4.5.1. Bargaining power of suppliers
4.5.2. Bargaining power of consumers
4.5.3. Threat of substitutes
4.5.4. Threat of new entrants
4.5.5. Competitive rivalry intensity
4.6. PESTLE analysis
4.6.1. Political
4.6.2. Economical
4.6.3. Social
4.6.4. Technological
4.6.5. Environmental
4.7. Impact of COVID-19 on Aramid Fiber Market
4.7.1. Pre-covid market scenario
4.7.2. Post-covid market scenario
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5. Aramid Fiber Market, By Product
5.1. Overview
5.2 Para-aramid
5.2.1 Definition, key trends, growth factors, and opportunities
5.2.2 Market size analysis, by region, 2020-2027
5.2.3 Market share analysis, by country, 2020-2027
5.3 Meta-aramid
5.3.1 Definition, key trends, growth factors, and opportunities
5.3.2 Market size analysis, by region, 2020-2027
5.3.3 Market share analysis, by country, 2020-2027
5.4 Research Dive Exclusive Insights
5.4.1 Market attractiveness
5.4.2 Competition heatmap
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6. Aramid Fiber Market, By Source
6.1. Overview
6.2 Security & Protection
6.2.1 Definition, key trends, growth factors, and opportunities
6.2.2 Market size analysis, by region, 2020-2027
6.2.3 Market share analysis, by country, 2020-2027
6.3 Frictional Materials
6.3.1 Definition, key trends, growth factors, and opportunities
6.3.2 Market size analysis, by region, 2020-2027
6.3.3 Market share analysis, by country, 2020-2027
6.4 Rubber Reinforcement
6.4.1 Definition, key trends, growth factors, and opportunities
6.4.2 Market size analysis, by region, 2020-2027
6.4.3 Market share analysis, by country, 2020-2027
6.5 Optical Fibers
6.5.1 Definition, key trends, growth factors, and opportunities
6.5.2 Market size analysis, by region, 2020-2027
6.5.3 Market share analysis, by country, 2020-2027
6.6 Tire Reinforcement
6.6.1 Definition, key trends, growth factors, and opportunities
6.6.2 Market size analysis, by region, 2020-2027
6.6.3 Market share analysis, by country, 2020-2027
6.7 Electrical Insulation
6.7.1 Definition, key trends, growth factors, and opportunities
6.7.2 Market size analysis, by region, 2020-2027
6.7.3 Market share analysis, by country, 2020-2027
6.8 Aerospace
6.8.1 Definition, key trends, growth factors, and opportunities
6.8.2 Market size analysis, by region, 2020-2027
6.8.3 Market share analysis, by country, 2020-2027
6.9 Others
6.9.1 Definition, key trends, growth factors, and opportunities
6.9.2 Market size analysis, by region, 2020-2027
6.9.3 Market share analysis, by country, 2020-2027
6.10 Research Dive Exclusive Insights
6.10.1 Market attractiveness
6.10.2 Competition heatmap
7. Aramid Fiber Market, By Region
7.1 North America
7.1.1 U.S
7.1.1.1 Market size analysis, By Product, 2020-2027
7.1.1.2 Market size analysis, By Source, 2020-2027
7.1.2 Canada
7.1.2.1 Market size analysis, By Product, 2020-2027
7.1.2.2 Market size analysis, By Source, 2020-2027
7.1.3 Mexico
7.1.3.1 Market size analysis, By Product, 2020-2027
7.1.3.2 Market size analysis, By Source, 2020-2027
7.1.4 Research Dive Exclusive Insights
7.1.4.1 Market attractiveness
7.1.4.2 Competition heatmap
7.2 Europe
7.2.1 Germany
7.2.1.1 Market size analysis, By Product, 2020-2027
7.2.1.2 Market size analysis, By Source, 2020-2027
7.2.2 UK
7.2.2.1 Market size analysis, By Product, 2020-2027
7.2.2.2 Market size analysis, By Source, 2020-2027
7.2.3 France
7.2.3.1 Market size analysis, By Product, 2020-2027
7.2.3.2 Market size analysis, By Source, 2020-2027
7.2.4 Spain
7.2.4.1 Market size analysis, By Product, 2020-2027
7.2.4.2 Market size analysis, By Source, 2020-2027
7.2.5 Italy
7.2.5.1 Market size analysis, By Product, 2020-2027
7.2.5.2 Market size analysis, By Source, 2020-2027
7.2.6 Rest of Europe
7.2.6.1 Market size analysis, By Product, 2020-2027
7.2.6.2 Market size analysis, By Source, 2020-2027
7.2.7 Research Dive Exclusive Insights
7.2.7.1 Market attractiveness
7.2.7.2 Competition heatmap
7.3 Asia-Pacific
7.3.1 China
7.3.1.1 Market size analysis, By Product, 2020-2027
7.3.1.2 Market size analysis, By Source, 2020-2027
7.3.2 Japan
7.3.2.1 Market size analysis, By Product, 2020-2027
7.3.2.2 Market size analysis, By Source, 2020-2027
7.3.3 India
7.3.3.1 Market size analysis, By Product, 2020-2027
7.3.3.2 Market size analysis, By Source, 2020-2027
7.3.4 Australia
7.3.4.1 Market size analysis, By Product, 2020-2027
7.3.4.2 Market size analysis, By Source, 2020-2027
7.3.5 South Korea
7.3.5.1 Market size analysis, By Product, 2020-2027
7.3.5.2 Market size analysis, By Source, 2020-2027
7.3.6 Rest of Asia-Pacific
7.3.6.1 Market size analysis, By Product, 2020-2027
7.3.6.2 Market size analysis, By Source, 2020-2027
7.3.7 Research Dive Exclusive Insights
7.3.7.1 Market attractiveness
7.3.7.2 Competition heatmap
7.4 LAMEA
7.4.1 Brazil
7.4.1.1 Market size analysis, By Product, 2020-2027
7.4.1.2 Market size analysis, By Source, 2020-2027
7.4.2 Saudi Arabia
7.4.2.1 Market size analysis, By Product, 2020-2027
7.4.2.2 Market size analysis, By Source, 2020-2027
7.4.3 UAE
7.4.3.1 Market size analysis, By Product, 2020-2027
7.4.3.2 Market size analysis, By Source, 2020-2027
7.4.4 South Africa
7.4.4.1 Market size analysis, By Product, 2020-2027
7.4.4.2 Market size analysis, By Source, 2020-2027
7.4.5 Rest of LAMEA
7.4.5.1 Market size analysis, By Product, 2020-2027
7.4.5.2 Market size analysis, By Source, 2020-2027
7.4.6 Research Dive Exclusive Insights
7.4.6.1 Market attractiveness
7.4.6.2 Competition heatmap
8. Competitive Landscape
8.1 Top winning strategies, 2020-2027
8.1.1 By strategy
8.1.2 By year
8.2 Strategic overview
8.3 Market share analysis, 2020-2027
9. Company Profiles
9.1 Teijin Aramid B.V.
9.1.1 Overview
9.1.2 Business segments
9.1.3 Product portfolio
9.1.4 Financial performance
9.1.5 Recent developments
9.1.6 SWOT analysis
9.2 DowDuPont
9.2.1 Overview
9.2.2 Business segments
9.2.3 Product portfolio
9.2.4 Financial performance
9.2.5 Recent developments
9.2.6 SWOT analysis
9.3 Hyosung
9.3.1 Overview
9.3.2 Business segments
9.3.3 Product portfolio
9.3.4 Financial performance
9.3.5 Recent developments
9.3.6 SWOT analysis
9.4 Yantai Tayho 73 Co
9.4.1 Overview
9.4.2 Business segments
9.4.3 Product portfolio
9.4.4 Financial performance
9.4.5 Recent developments
9.4.6 SWOT analysis
9.5 W. Barnet GmbH & Co. Kg
9.5.1 Overview
9.5.2 Business segments
9.5.3 Product portfolio
9.5.4 Financial performance
9.5.5 Recent developments
9.5.6 SWOT analysis
9.6 Kermel
9.6.1 Overview
9.6.2 Business segments
9.6.3 Product portfolio
9.6.4 Financial performance
9.6.5 Recent developments
9.6.6 SWOT analysis
9.7 Kolon Industries Inc.
9.7.1 Overview
9.7.2 Business segments
9.7.3 Product portfolio
9.7.4 Financial performance
9.7.5 Recent developments
9.7.6 SWOT analysis
9.8 Toray
9.8.1 Overview
9.8.2 Business segments
9.8.3 Product portfolio
9.8.4 Financial performance
9.8.5 Recent developments
9.8.6 SWOT analysis
9.9 Huvis Corporation
9.9.1 Overview
9.9.2 Business segments
9.9.3 Product portfolio
9.9.4 Financial performance
9.9.5 Recent developments
9.9.6 SWOT analysis
9.10 JSC Kamenskvolokno
9.10.1 Overview
9.10.2 Business segments
9.10.3 Product portfolio
9.10.4 Financial performance
9.10.5 Recent developments
9.10.6 SWOT analysis
9.11 Jiaxing Newtex 71 Co. Ltd.
9.11.1 Overview
9.11.2 Business segments
9.11.3 Product portfolio
9.11.4 Financial performance
9.11.5 Recent developments
9.11.6 SWOT analysis
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