Global Aramid Fiber Market – Industry Trends and Forecast to 2030

Global Aramid Fiber Market, By Type (Para-Aramid Fiber, Meta-Aramid Fiber), Application (Frictional Materials, Protection, Electrical Insulation, Safety Garment, Rubber Reinforcement, Tire Reinforcement, Industrial Filtration, Optical Fibers, Others), End User (Automotive, Aerospace, and Defence, Electronics and Telecommunication, Electrical and Others) - Industry Trends and Forecast to 2030.

Aramid Fiber Market Analysis and Size

Science and technology continue to develop continuously owing to technological advancements and steady research and development activities. The significance of aramid fiber is rising day by day owing to its numerous features, such as being lightweight in nature, heat resistance, and strength over other fibers. The "para-aramid fiber" is expected to be the highest-growing stimulus segment of the market due to its excellent strength-to-weight ratio, high modulus behavior, and tensile strength over the forecast period.

Data Bridge Market Research analyses that the aramid fiber market is expected to undergo a CAGR of 5.80% from 2023 to 2030. This indicates that the market value, USD 3.82 billion in 2022, would rocket up to USD 6.01 billion by 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Aramid Fiber Market Scope and Segmentation

Market Definition

The aramid fiber market comprises sales of aramid fiber by entities such as sole traders, organizations, and partnerships that refer to a synthetic fiber in which the component of fiber-forming has a long chain of synthetic polyamide with around 85% of the amide linkages attached to two aromatic rings. Aramid fibers are high-performance fibers produced from artificial molecules with comparatively stiff polymer chains. These molecules are combined by strong hydrogen bonds that proficiently transfer mechanical stress and allow for the use of chains with low molecular weight. Aramid fiber is generally used for reinforcement in composites such as aviation, sports goods, and military vehicles, as well as fabrics in clothing such as bulletproof jackets or fire safety garments.

Global Aramid Fiber Market Dynamics

Drivers

• High usage of aramid fiber due to multiple properties

Aramid fiber is highly in demand because it has many advantages over other types of fibers, including tear-resistant, light, comfortable, and multifunctional. They are used in military and aerospace applications, for ballistic composites and ballistic-rated body armor fabric, in marine hull reinforcement, marine cordage and as an asbestos substitute. During the forecast period of 2023–2030, this is some of the major factors fostering the growth of the aramid fiber market.

• Rising demand for aramid fiber in the automotive sector

Aramid fibers are more lightweight and durable than other alternatives or materials. They often weight less and are stronger than steel. The automotive industry is concentrating on producing cars that are lighter in weight, which increases the demand for lighter materials. The average fuel consumption of automobiles needs to be reduced, and using lightweight materials such as aramid fiber can help with that goal. The market for aramid fiber is anticipated to grow faster due to the increasing demand for lightweight materials.

• High usage of lightweight and fuel-efficient material

Numerous industry competitors are forced to choose replacement materials that are fuel-efficient, light, and sturdy due to the strict laws on reducing carbon emissions. Thus, to reduce weight and minimize energy consumption, several sectors are substituting cutting-edge materials like aramid fiber for conventional ones like steel and aluminum. Para-aramid fibers are also used as an alternative to steel in several applications because they help reduce the overall weight of products and offer increased durability. It is anticipated that the rising demand for lightweight and fuel-efficient materials will drive the market growth rate.

Opportunities

• Increasing demand for aramid fiber in the military and defense sector

The government's substantial investments in the military and defense sectors will help the para-aramid fiber market expand in the future. The increase in defense spending has allowed governments in many nations to spend money on cutting-edge, lightweight, protective gear for their armed personnel. Aramid fiber is a substitute for asbestos and is used in military and aerospace applications such as maritime cordage and hull reinforcement, ballistic-rated body armor fabric, and ballistic composites. As a result, the substantial government investment in the military and defense sector will promote market growth for aramid fibers and open up vast new opportunities.

Restraints/Challenges

• High cost associated with aramid fiber

High manufacturing costs, initial investments, and fluctuating raw material prices will act as a market restraint and further impede the growth of the para-aramid fibers market during the forecast period of 2023–2030.

This aramid fiber market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the aramid fiber market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Aramid Fiber Market

Around the world, the COVID-19 pandemic has had an impact on practically every industry. The para-aramid fiber market is moderately affected due to limitations in the petrochemicals and refining activities, which is the major constituent of para-aramid fiber. The chemical, oil and gas, automobile, and telecommunications industries significantly impact the market.

The pandemic moderately impacts consumer perception, business, and major global markets. It will take some time before the petrochemical and chemical sectors resume a stable development trajectory. Petrochemical and refining growth is predicted to recover faster than the power-generating and construction sectors. COVID-19 had a significant impact on the development of the aramid industry.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Aramid Fiber Market Scope

The aramid fiber market is segmented on the basis of type, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Para-Aramid Fiber
• Meta-Aramid Fiber

Application

• Frictional Materials
• Brake Pad
• Gasket
• Protection
• Bullet Proof Vest
• Bullet Proof Vehicles
• Combat Helmet
• Electrical Transmission
• Optical Fiber
• Others
• Safety Garments
• Gloves
• Fire Fighting Garments
• Rubber Reinforcement
• Conveyor Belt
• Others
• Tire Reinforcement
• Oil and Gas
• Others
• Industrial Filtration
• Optical Fibers
• Others

 End User

• Automotive,
• Aerospace and Defence
• Electronics and Telecommunication
• Electrical
• Others

Aramid Fiber Market Regional Analysis/Insights

The aramid fiber market is analysed and market size insights and trends are provided by country, type, application and end user as referenced above.

The countries covered in the aramid fiber market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Europe dominates the aramid fiber market in terms of market revenue because the strict safety regulations within industries such as aluminum and steel, construction, oil, and gas fuel the demand for protective clothing, which is increasing the demand for aramid fiber in this region.

North America will continue to project the highest compound annual growth rate during the forecast period of 2023-2030 due to the growing employment of protection and security and measures across many industries in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Aramid Fiber Market Share Analysis

The aramid fiber market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to aramid fiber market.

Some of the major players operating in the aramid fiber market are:

• Toray Industries Inc, (Japan)
• Dow and Dupont (U.S.)
• Teijin limited (Japan)
• SOLVAY (Belgium)
• Yantai Tayho Advanced Materials Co Ltd. (China)
• Hyosung (South Korea)
• Kolon Industries Inc. (South Korea)
• Huvis Corp, (South Korea)
• Kermel (France)
• China National Bluestar (Group) Co., Ltd. (China)
• X-FIPER NEW MATERIAL CO.,LTD (China)
• Fibrex (U.S.)
• Aramid Hpm, LLC (U.S.)