Global Para Aramid Fibers Market – Industry Trends and Forecast to 2029

Global Para Aramid Fibers Market, By Product Form Filament Yarn, Short Fibers, Pulp, Others), 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 2029.

Para Aramid Fibers Market Analysis and Size

The importance of para aramid fibers is growing day by day due to their features such as strength, lightweight nature and heat resistance over other fibers. The “filament yarn” is the highest growing stimulus segment of the market due to the growing demand for the manufacturing of protective clothing in the military and defense over the forecast period.

Data Bridge Market Research analyses that the para aramid fibers market is expected to undergo a CAGR of 7.10% during the forecast period. This indicates that the market value, which was USD 3.06 billion in 2021, would rocket up to USD 5.30 billion by 2029. 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.

Para Aramid Fibers Market Scope and Segmentation

Market Definition

Para-aramid is a synthetic fiber used to produce safety gloves and other safety products and equipment. Para-aramid gloves resist abrasion, but the main purpose for using the fiber is its strong heat resistance. Also, para-aramid being much more mechanically resistant than other material.

Global Para Aramid Fibers Market Dynamics

Drivers

• High usage of light weight and fuel-efficient material

The stringent regulations on decreasing the emission of carbon compel several market players to opt for substitute materials that are fuel-efficient, lightweight and strong. Thus, numerous industries are replacing traditional materials, such as aluminum and steel, with advanced materials such as para aramid fibers to reduce weight and lower energy consumption. Pare aramid fibers are also used in several applications as an alternative of steel as they help to reduce the total weight of products and provide extended durability. The rising demand for lightweight and fuel-efficient materials is expected to drive market growth.

• High usage of para aramid fibers due to multiple properties

The para aramid fibers is high in demand due to their several features such as tear resistance, lightweight, comfortable and multi-functional than other normal fibers. This is one of the major factor which is promoting the growth of the para aramid fibers market during the forecast period of 2022-2029.

• Growing demand of para aramid fibers in automotive sector

Para aramid fibers are light and strong than other substitutes or other materials. They are usually less in weight and stronger than steel. The automotive sector is focussing on the manufacturing of lighter weight automobiles, which create the demand for the lighter weight materials. Automobile manufacturers are need to decrease the average fuel consumption of vehicles, and this purpose can be met by using lightweight materials such as para aramid fibers. The rising demand of light weight material are expected to drive the growth rate of the para aramid fibers market.

Opportunities

• Increasing demand para aramid fibers in military and defence sector

The strong government spending on defence and military industries will support the growth of the para aramid fiber market. The rise in the defence budget enables governments from many countries to invest in lightweight and advanced protective equipment for military forces. Para aramid fibers are used in military and aerospace applications, including marine cordage and hull reinforcement, ballistic-rated body armor fabric and ballistic composites and as a substitute for asbestos. Therefore, the strong government spending on defense and military industries will support the growth of the aramid fiber market and create immense opportunities for the market

Restraints/Challenges

• High cost associated with para aramid fibers

High manufacturing cost and initial investments coupled with the fluctuating prices of raw materials will act as a market restrain, and further challenge the growth of para-aramid fibers market during the forecast period of 2022-2029.

This para aramid fibers 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 para aramid fibers 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 Para Aramid Fibers Market

The outbreak of covid-19 has affected almost every sector all over the globe. The para aramid fiber market is moderately affected due to disruptions in the supply chain and the limitation in the petrochemicals and refining activities, which constitutes the major end-users of para aramid fiber. The market is highly dependent on the chemical, oil & gas, automotive and telecommunication industries.

The pandemic has moderately affected consumer sentiment and business and across major markets globally. Though the market is gradually recovering, it will take a while before petrochemical and chemical sectors return to a stable growth trajectory. Growth is anticipated in petrochemical and refining to bounce back faster than power generation and construction segments. Thus, COVID-19 left a major impact on the growth of the para aramid fibers market.

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 Para Aramid Fibers Market Scope

The para aramid fibers market is segmented on the basis of product form, 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.

Product Form

• Filament Yarn
• Short Fibers
• Pulp
• Others

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

Para Aramid Fibers Market Regional Analysis/Insights

The para aramid fibers market is analysed and market size insights and trends are provided by country, product form, application and end user as referenced above.

The countries covered in the para aramid fibers 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.

Asia-Pacific dominates the para aramid fibers market in terms of market revenue due to increasing employment of protection and security measures across the region and growing demand for the internet from emerging countries will robust the growth in the telecom industry in this region.

North America will continue to project the highest compound annual growth rate during the forecast period of 2022-2029 due to rising number of refurbishing activities coupled with stringent regulations pertaining to the protection and security of workers across several 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 Para Aramid Fibers Market Share Analysis

The para aramid fibers 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 para aramid fibers market.

Some of the major players operating in the para aramid fibers 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.)