Aramid Fiber Market Size & Share, by Product Type (Para-Aramid, Meta-Aramid); Application (Security & Protection, Frictional Materials, Rubber Reinforcement, Optical Fibers, Tire Reinforcement, Electrical Insulation, Aerospace) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5126
  • Published Date: Aug 01, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Aramid Fiber Market size is anticipated to reach USD 9 billion by the end of 2035, growing at a CAGR of 6% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of aramid fiber was approximately USD 4 billion. The major element driving the market expansion is the growth in demand for lightweight vehicles such as electric vehicle or hybrid vehicles. For instance, the total number of EVs sold globally at the end of 2021 was about 17 million, an upsurge of approximately 57% from the end of 2020. About 94 percent of these cars were LDVs, while only approximately 4% were HDVs. Aramid fiber has high resistivity to great temperatures hence it is the most suitable fiber being used in electric vehicles. Additionally, since they are lightweight their demand is growing in electric vehicles.

Moreover, government all over the world are initiating various policies in order to influence the growth of the electric vehicles. This could be owing to rising emission levels from the automotive. Hence, this could be another major factor to boost the market demand.


Aramid Fiber Market
Get more information on this report: Request Free Sample PDF

Aramid Fiber Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising Demand for Protective Clothing

Protective clothing demand is growing from the military in order to protect their body from bullets and armor. Additionally, their growth is also high among firefighters. Firefighters require protective gear that allows them to protect their bodies and lives from the effects of heat and flame. Since aramid fibers are heat and flame resistive, it is high in demand among them.

  • Growing Manufacturing of Aircraft

Commercial aviation is under constant strain to increase performance due to rising fuel prices and environmental activism, and weight reduction is a crucial component of the equation. Hence, the use of aramid fiber in aircraft is growing since all the issues could be resolved with the use of this composite material.

  • Surge in the Use of Aramid Fiber in Consumer Electronics

The consumer electronics sector is driving up demand for aramid fibers, which is a new market trend. Companies that manufacture consumer devices employ aramid fibers for a range of optical applications. Some of the numerous applications for which they might be able to offer prospective solutions include rollers, mobile phones, LCD panels, projectors, wearable electronics, gasket optics, lighting, and many others.

Challenges

  • High Cost of Aramid Fiber - The high cost of development and the maintenance of quality are the main obstacles to market expansion. Producers of aramid fiber need to invest a sizable investment in the creation of aramid fiber items utilized in security and protective applications in order to meet the high criteria for quality, materials, and performance established by the end-user industries. Aramid fiber makers must also keep up the quality of their products in order to remain competitive, which is expected to increase their cost of quality. For instance, specialized equipment is required to cut and grind aramid fibers for further applications. Since UV light might cause them to deteriorate, they also require particular quality assurance inspections.
  • Availability of Alternative
  • Effect of Aramid Fiber on Environment

Aramid Fiber Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~6%

Base Year Market Size (2022)

~ USD 4 Billion

Forecast Year Market Size (2035)

~ USD 9 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Aramid Fiber Segmentation

Application (Frictional Materials, Rubber Reinforcement, Security & Protection, Optical Fibers, Tire Reinforcement, Electrical Insulation, Aerospace)

The frictional materials segment in the aramid fiber market is set to garner the highest revenue of about USD 5 Billion by the end of 2035. Due to their characteristics including thermal stability, superior wear qualities, and stable coefficient of friction, these fibers are in higher demand as frictional materials. This fiber is favored above others including glass, cellulose, and carbon because it is most successful at boosting resistance. These fibers are widely employed in the production of brake pads and other equipment because they tend to cause less harm to surfaces when they are used.

Product Type (Para-Aramid, Meta-Aramid)

Aramid fiber market from the para-aramid segment is projected to gather the highest share of about 74% over the forecast period. These fibers are widely used in the defense, security, and automotive industries. Para-aramid fibers are used for reinforcement in wire and cable, hoses, race vehicles, protective gloves, wire and cable, and ballistic protection. They are also employed as tire reinforcement, brake pad friction material, optic fiber cables, rope, deep-sea oil drilling, ballistic protection, and protective materials. Features including improved rust, humidity, and heat resistance in harsh environments are going to propel this market segment. Additionally, the segment is driven by its use in defense, aerospace, and military for bulletproof body armor.

Our in-depth analysis of the global market includes the following segments:

           Product Type

  • Para-Aramid
  • Meta-Aramid

          Application

  • Security & Protection
  • Frictional Materials
  • Rubber Reinforcement
  • Optical Fibers
  • Tire Reinforcement
  • Electrical Insulation
  • Aerospace

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Aramid Fiber Industry- Regional Synopsis

European Market Forecast

The aramid fiber market in Europe is estimated to generate the largest revenue of USD 4 Billion by the end of 2035, backed by growing demand for luxury cars. It is estimated that, by 2027, about 60,000 units of luxury cars would be sold in Europe. Also, manufacturers of these luxury cars are making use of frictional material which is why the market in this region is set to grow. Additionally, the concern for workers' safety in factories growing. Hence, the workers are increasingly equipped with safety gear manufactured from aramid fiber.

APAC Market Analysis

The Asia Pacific market for aramid fiber is anticipated to have noteworthy growth over the forecast period. As a result of strengthened security frameworks in many industries, the Asia Pacific aramid fiber market is anticipated to expand throughout the aforementioned years. Due to increasing optical fiber demand and industrialization in emerging economies including China and India, broadband subscriptions in developing countries, rapid industrialization, and significant telecommunications sector expansion in low-income countries are anticipated to drive Asia-Pacific aramid fiber product demand.

Research Nester
Aramid Fiber Market Size
Get more information on this report: Request Free Sample PDF

Companies Dominating the Aramid Fiber Landscape

top-features-companies
    • DuPont de Nemours Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Yantai Tayho Advanced Materials Co, Ltd.
    • Hyosung Corporation
    • Kermel
    • Kolon Industries, Inc.
    • Huvis
    • China National BlueStar Group Co., Ltd.
    • Taekwang Industrial, Co., Ltd.
    • Mussel Polymers Inc.
    • Bluestar New Material Co. Ltd.

In the News

  • Using its bio-inspired poly(catechol-styrene) (PCS) catechol-containing polymer, Mussel Polymers Inc., a specialty materials and coatings startup company from Purdue University, successfully coated carbon and aramid fibres, marking a significant advancement in the development of lighter, stronger fiber-reinforced composites.
  • Kolon Industries Inc., the leading producer of textiles and chemical materials in South Korea, was anticipated to invest around USD 212 million to increase the production capacity of its domestic aramid factory.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5126
  • Published Date: Aug 01, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are rising demand for protective clothing, growing manufacturing of aircraft, and surge in use of aramid fiber in consumer electronics.

The market size of aramid fiber is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2023 – 2035.

The major players in the market are DuPont de Nemours Inc., Yantai Tayho Advanced Materials Co, Ltd., Hyosung Corporation Kermel and others.

The para-aramid segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Europe region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Aramid Fiber Market Report Scope
logo
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying