The global aramid fiber market revenue was around US$ 5,463.07 million in 2022 and is estimated to reach US$ 9,629 million by 2031, growing at a compound annual growth rate (CAGR) of 6.5% during the forecast period from 2023 to 2031.
Aramid fibers are man-made fibers in which relatively stiff polymer chains describe molecules. The molecules are connected by robust hydrogen bonds, which transfer mechanical strength efficiently, with less molecular weight. These fibers have high strength, superior abrasion resistance, good resistance to organic solvents, no melting points, non-conductivity, low flammability, and good fabric integrity at high temperatures.
Market Driving Factors
High usage of aramid fiber owing to numerous properties drives the market. Aramid fiber is highly in demand due to its many advantages over other kinds of fibers, including multifunctional, tear-resistant, light, and comfortable. They are utilized in aerospace and military applications, for ballistic composites and ballistic-rated body armor fabric, in marine cordage, marine hull reinforcement, and as an asbestos substitute.
The surge in demand for aramid fiber in the automotive sector boosts the market growth. Aramid fibers are more durable and lightweight than other materials or alternatives. They usually weigh less and are more robust than steel. The automotive industry is focusing on manufacturing cars that are lighter in weight, which raises the demand for lighter materials. The average fuel consumption of automobiles requires to be low, and utilizing lightweight materials such as aramid fiber can assist with that goal.
The high price of synthetic fibers may hamper the market growth.
Regional Analysis
North America dominates the market. This is due to the surge in warfare and mounting security. In addition, an increase in tension between the nations near the United States has further led to an upsurge in demand for ballistic protection armor for both the troops and vehicles such as armored cars, headgear, ballistic missiles, and bulletproof vests.
Europe is predicted to dominate the market. This is because increase in employment of security & protection measures across many industries. Additionally, the surge in demand for the Internet from emerging economies, robust growth in the telecom industry, and rapid industrialization have boosted the market in the region.
Segmentation Insights
Product Type Insight
Para segment is estimated to dominate the market. This is due to the surge in use in applications such as aerospace and military & defense in creating bulletproof body armor. This fiber provides a high strength-to-weight ratio and more suitable insulation properties, which makes it suitable for bulletproof jackets, helmets, and vehicle armor.
The meta segment dominates the market. This is because surge in penetration of honeycomb panel-based composite structures in the aerospace, automotive, and defense industries. In addition, the surge in demand for thermal protective apparel also drives the demand for this fiber.
Application Insight
The security & protection segment is anticipated to dominate the market. Extensive use in safety & protection applications owing to the unique set of properties, which makes these fibers thick when exposed to extreme heat such as flashover. Therefore, this segment holds the largest share of the market.
Furthermore, this fiber raises the protective barrier between the heat source and skin when firefighters require it most. This difficult barrier stays flexible until it's cool and offers extra minutes of protection without impairing mobility.
Prominent Companies
Segmentation Outline
The global aramid fiber market segmentation focuses on Product Type, Application, and Region.
By Product Type
By Application
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL ARAMID FIBER MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: ARAMID FIBER MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL ARAMID FIBER MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL ARAMID FIBER MARKET, BY PRODUCT TYPE
5.1 OVERVIEW
5.2 META
5.3 PARA
5.4 OTHERS
6 GLOBAL ARAMID FIBER MARKET, BY APPLICATION
6.1 OVERVIEW
6.2 SECURITY & PROTECTION
6.3 FRICTIONAL MATERIALS
6.4 RUBBER & TIRE REINFORCEMENT
6.5 OPTICAL FIBER
6.6 ELECTRICAL INSULATION
6.7 AEROSPACE
6.8 OTHERS
7 GLOBAL ARAMID FIBER MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL ARAMID FIBER MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
8.4 COMPETITIVE DASHBOARD
8.5 PRODUCT MAPPING
8.6 TOP PLAYER POSITIONING, 2022
8.7 COMPETITIVE HEATMAP
8.8 TOP WINNING STRATEGIES
9 COMPANY PROFILES
9.1 DUPONT
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.2 TEIJIN LIMITED
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.3 KOLON INDUSTRIES INC
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.4 YANTAI TAYHO ADVANCED MATERIALS CO. LTD
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.5 X-FIPER NEW MATERIAL CO. LTD
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.6 HUVIS CORPORATION
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.7 HYOSUNG CORPORATION
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.8 CHINA NATIONAL BLUESTAR
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.9 TOYOBO CO LTD
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.10 ARAMID HPM LLC
9.10.1 OVERVIEW
9.10.2 FINANCIAL PERFORMANCE
9.10.3 PRODUCT OUTLOOK
9.10.4 KEY DEVELOPMENTS
9.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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