Report Scope & Overview:
Aramid Fiber Market Size was valued at USD 4.48 billion in 2022, and expected to reach USD 9.27 billion by 2030, and grow at a CAGR of 9.5% over the forecast period 2023-2030.
Aramid fibre is a man-made organic polymer that is strong and can stand up to high temperatures. They have great qualities like being resistant to abrasion and organic solvents, not conducting electricity, having a high melting point, not catching fire easily, and so on.
The main thing that drives the global aramid fibre market is the growing need for protective clothing in the military and defence, and industrial sectors. Due to their ability to resist fire and heat, aramid fibres are in high demand in the growing defence industry, which is used for homeland security and counterterrorism.
Market Dynamics:
Drivers:
More security and protection applications are looking for lighter materials.
The need for materials that are both light and help vehicles reduce their emissions is growing.
A Possible Replacement for Steel and Asbestos
Restraints:
High costs for R&D
Aramid fibres are not biodegradable.
Opportunity:
More people want Homeland Security
The Aerospace and Defense Industry is Growing
Improvements in the technology used to make Aramid materials
Challenge:
High cost of making things
Similar options that are also on the market
Impact of Covid-19:
Almost every part of the world has been affected by the pandemic. Disruptions in the global supply chain and problems in refining and petrochemicals, which are the main industries that use aramid fibre, have a moderate effect on the market. The oil and gas, automotive, chemical, and telecommunications industries are very important to the market.
The Covid-19 outbreak has had a moderate effect on business and consumer sentiment in key global markets. This has led to a big drop in the refining and petrochemical and power generation sectors. Even though the market is slowly getting better, it will take a while for the chemical and petrochemical sectors to get back on a steady growth path. It is expected that growth will come back faster in the refining and petrochemical sectors than in the construction and power generation sectors. As a result of the drop in demand, the marine and automotive markets are expected to slowly recover over the next 6–8 quarters. The power generation sector is expected to keep growing, with help from government spending.
Key Players:
Kermel (France), Toray Industries, Inc. (Japan), Kolon Industries Inc. (South Korea), Teijin Ltd. (Japan), DuPont De Numerous, Inc. (US), SRO Aramid (Jiangsu) Co. Ltd. (China)Hyosung Corp. (South Korea),China National Bluestar (Group) Co., Ltd. (China), Huvis Corporation (South Korea) and Yantai Tayho Advanced Materials Co., Ltd. (China), and other players.
Market Segment:
By Type
Para-aramid fiber
Meta-aramid fiber
By application
Security & Protection
Frictional Materials
Industrial Filtration
Optical Fibers
Rubber Reinforcement
Tire Reinforcement
Electrical Insulation
Others
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Regional Analysis:
Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa are the five regions that make up the Global Aramid Fiber Market. Asia-Pacific is the fastest-growing market in the world because its industrial, aerospace, and military sectors are growing the most. The market in the Asia-Pacific region is also being driven by the growing demand for cars that are durable, light, and efficient. Also, a lot of consumer goods are made and sold in Asia-Pacific, which helps the market grow.
North America is the second largest market for aramid fibre because the defence and auto industries use so much of it. The U.S. is one of the world's most powerful militaries, and it's likely to stay that way over the next few years, which will likely increase demand for the product. The market in this region is growing because more people are buying cars and they have more money to spend. Over the next few years, the market is expected to grow because more auto parts are being made and sold in western European countries like the UK, Germany, France, and others. Due to the growing auto industry in Mexico, the Latin American market is growing at a moderate rate. During the review period, the Middle East and Africa market is likely to grow because more and more products are being used in construction to replace steel and asbestos.
REGIONAL COVERAG
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 4.48 Billion |
| Market Size by 2030 | US$ 9.27 Billion |
| CAGR | CAGR of 9.5% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Para-aramid fiber, Meta-aramid fiber) • By application (Security & Protection, Frictional Materials, Industrial Filtration, Optical Fibers, Rubber Reinforcement, Tire Reinforcement, Electrical Insulation, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Kermel (France), Toray Industries, Inc. (Japan), Kolon Industries Inc. (South Korea), Teijin Ltd. (Japan), DuPont De Numerous, Inc. (US), SRO Aramid (Jiangsu) Co. Ltd. (China)Hyosung Corp. (South Korea),China National Bluestar (Group) Co., Ltd. (China), Huvis Corporation (South Korea) and Yantai Tayho Advanced Materials Co., Ltd. (China), and other players. |
| DRIVERS | • More security and protection applications are looking for lighter materials. • The need for materials that are both light and help vehicles reduce their emissions is growing. • A Possible Replacement for Steel and Asbestos |
| Restraints | • High costs for R&D • Aramid fibres are not biodegradable. |
Ans: More people want Homeland Security, The Aerospace and Defense Industry is Growing and Improvements in the technology used to make Aramid materials are the opportunity for Aramid Fiber Market.
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: The Covid-19 outbreak has had a moderate effect on business and consumer sentiment in key global markets. This has led to a big drop in the refining and petrochemical and power generation sectors. Even though the market is slowly getting better, it will take a while for the chemical and petrochemical sectors to get back on a steady growth path. It is expected that growth will come back faster in the refining and petrochemical sectors than in the construction and power generation sectors.
Ans: More security and protection applications are looking for lighter materials, The need for materials that are both light and help vehicles reduce their emissions is growing and A Possible Replacement for Steel and Asbestos are the drivers for Aramid Fiber Market.
Ans: Aramid Fiber Market Size was valued at USD 4.1 billion in 2021, and expected to reach USD 7.8 billion by 2028, and grow at a CAGR of 9.5 % over the forecast period 2022-2028.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Aramid Fiber Market Segment, By Type
8.1 Para-aramid fiber
8.2 Meta-aramid fiber
9.Aramid Fiber Market Segment, By application
9.1 Security & Protection
9.2 Frictional Materials
9.3 Industrial Filtration
9.4 Optical Fibers
9.5 Rubber Reinforcement
9.6 Tire Reinforcement
9.7 Electrical Insulation
9.8 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11. Company Profile
11.1 Kermel (France),
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 Toray Industries, Inc. (Japan)
11.3 Kolon Industries Inc. (South Korea)
11.4 Teijin Ltd. (Japan)
11.5 DuPont De Numerous, Inc. (US)
11.6 SRO Aramid (Jiangsu) Co. Ltd. (China)
11.7 Hyosung Corp. (South Korea)
11.8 Yantai Tayho Advanced Materials Co., Ltd. (China)
11.9 China National Bluestar (Group) Co., Ltd. (China)
11.10 Huvis Corporation (South Korea)
12.Competitive Landscape
12.1 Competitive Benchmark
12.2 Market Share analysis
12.3 Recent Developments
13 Conclusion
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