Global Aramid Fiber Market size was valued at USD 4.3 Billion in 2024 and is expected to reach USD 9.6 Billion by 2033, at a CAGR of 8.1% during the forecast period 2024 – 2033.
Aramid Fiber Market: Overview
Aramide fiber, also referred to as aromatic polyamide fiber, is a synthetic fiber that is extremely strong, heat resistant, and abrasion resistant. Aramide fibers have a high tensile strength-to-weight ratio, making them much stronger than steel on a weight-for-weight comparison.
The growing need for lightweight and high-strength materials in industries such as automobiles, aerospace, and defense is fueling growth. Rising safety concerns and severe laws governing flame resistance and protection are driving the use of aramid fibres in protective apparel and equipment.
Furthermore, technological improvements are enabling the creation of novel aramid fiber compositions with improved qualities, broadening their use in a variety of industries. Moreover, a growing focus on sustainability and environmental awareness is driving up demand for eco-friendly aramid fibres.
Furthermore, the introduction of new application sectors such as renewable energy and infrastructure is offering new prospects for market growth. Ultimately, these developments point to a bright future for the worldwide aramid fibre market, with more expansion and diversification predicted in the coming years.
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By type, the para-aramid segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Para-aramid fibres, such as Kevlar, dominate the aramid fibre industry due to their outstanding strength, heat resistance, and lightweight nature. They have broad applications in industries which include aviation, defense, automobiles and individual protective equipment, which drives the market’s expansion.
By application, security & protection segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The aramid fibre industry is driven by security and protection owing to the material’s outstanding strength, heat resistance, and lightweight qualities, which make it perfect for applications that include bulletproof vests, helmets, and fire-resistant apparel that need safety and durability.
Europe leads the aramid fibre market owing to superior production capabilities, a focus on sustainability, severe safety requirements, a strategic geographical position, and a dedication to innovation, which fosters demand for different applications and allows efficient distribution networks.
Toray Industries produces, processes, and sells Polyester, ABS, PBT, PPS, and other resins and moulded products; polyolefin foam; polyester, polypropylene, polyethylene, and other types of films and processed film products; raw materials for synthetic fibers and other plastics; fine chemical substances; electronic and information materials; and graphic materials.
CMI has comprehensively analyzed the Global Aramid Fiber market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict an in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Aramid Fiber industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Aramid Fiber Market:
- DuPont
- Teijin Aramid
- Kolon Industries Inc.
- Hyosung Corporation
- Yantai Tayho Advanced Materials Co. Ltd.
- Huvis Corporation
- SRO Aramid
- Toray Industries Inc.
- Taekwang Industrial Co. Ltd.
- China National Bluestar Co.Ltd.
- Kordsa Global
- SABIC
- Twaron
- Guangdong Charming Co. Ltd.
- Shanghai SRO Safety Protection Products Co. Ltd.
- AKSA
- L. Gore & Associates Inc.
- Toyobo Co. Ltd.
- Hunan Zhongtai Special Equipment Co. Ltd.
- Beijing Tongyizhong Specialty Fiber Technology & Development Co. Ltd.
- Others
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