GLOBAL ARAMID FIBER MARKET | Trends, Research, Growth 2019-2027

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GLOBAL ARAMID FIBER MARKET FORECAST 2019-2027
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• Aramid fibers are high-end specialty synthetic
  products used in various industries like defense
  and aerospace.
• The global aramid fiber market is estimated to
  record a CAGR of 7.45 during the forecast
  period. The increasing concern for safety and
  security, and the qualities like strength and
  heat resistance, etc. are the factors propelling
  the growth of the market.

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• Aramid fiber is being used as a substitute for
  Ashigh tensile strength, low density, stress
  rupture, high stiffnessbestos due to its, low
  creep, etc., and as a result, is positively
  impacting the growth of the market.
• Aramid fibers exhibit excellent chemical and
  physical properties at high temperatures.
• However, the production involves high
  manufacturing costs, limited monomer supply, and
  investments, all of which can hamper the market
  growth.
• Aramid fibers are serving various end-users. As a
  result, many companies are investing in
  production materials, thereby creating
  opportunities for market growth.

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• Based on geography, the global aramid fiber
  market has been bifurcated into a few regions,
  such as North America, Asia Pacific, Europe, and
  the Rest of World.
• The Asia Pacific is estimated to be the
  fastest-growing market during the forecast
  period.
• Europe holds the largest market share, since
  Europe is one of the worlds biggest automotive
  manufacturers.

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The North America aramid fiber market is
estimated to grow at a CAGR of 7.43 in terms of
revenue and 7.48 in terms of volume during the
forecasted period. Various regulatory bodies and
their rigorous regulations are driving the market
growth of aramid fiber. The North America aramid
fiber market is evaluated based on the markets in
regions, such as the United States and Canada.
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The Europe aramid fiber market is expected to
grow at a CAGR of 6.93 in terms of revenue and
6.59 in terms of volume during the forecast
period. Europe was the largest market for aramid
fibers in terms of its applications in optical
fibers. The growing demands from automotive
industries are the primary driver of aramid fiber
market growth in Europe.
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The Asia Pacific aramid fiber market is projected
to record a CAGR of 9.03 in terms of revenue and
8.49 in terms of volume during the forecasted
period. The growing investments in construction,
manufacturing, and security concerns and measures
in the healthcare, medical, military, oil gas
industries, and the resultant demands are driving
the growth of the market.
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The major companies operating in the market are
Taekwang Industrial Co., Ltd., Kermel, Hyosung
Corp., Sro Aramid (X-Fiper New Material Co.,
Ltd), China National Bluestar (Group) Co., Ltd.,
Kolon Industries, Inc., etc.
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