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

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

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According to Inkwood Research, the global market for aramid fiber is estimated to grow with an anticipated CAGR of 7.45% during the forecast period & will reach revenue of $6065 million by 2027. – PowerPoint PPT presentation

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Title: 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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