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.
Growth Drivers
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.
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.
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
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~6% |
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Base Year Market Size (2022) |
~ USD 4 Billion |
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Forecast Year Market Size (2035) |
~ USD 9 Billion |
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Regional Scope |
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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:
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Product Type |
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Application |
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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.
Author Credits: Smruti Ranjan, Rajrani Baghel
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