Aramid Fiber Market | Growth Analysis by Manufacturers, Size, Historic Growth, Trends, Strategies, Forecast By 2027

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Aramid Fiber Market Growth, Size, Competitive
Situation 2021, Trend Analysis, Factors, Share
Estimation, Demand and Supply with Regional
Forecast by 2027
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Global Market Scenario of Aramid Fiber Industry

• Aramid fibers market are a class of high-strength
  and heat resistant synthetic fibers. These
  high-performance materials are characterized by
  exceptional physical properties including
  superior resistance to abrasion and organic
  solvents, low flammability, and excellent fabric
  integrity at elevated temperatures. Over the past
  few years, aramid fibers and products made from
  them have been abundantly used across a range of
  different applications.
• 5G deployment to bring promising opportunities
• 5G, the next-generation wireless technology,
  promises a seamless future. It will unlock
  lightning fast speeds for users and allow a
  greater number of devices to come online
  simultaneously without slowing down network.
  Deployment of the highspeed network will require
  additional equipment, including new transmitters
  to relay all the data generated. Many of those
  transmitters will likely still connect to the
  internet via optical fiber cables.
• Taking into consideration the recent developments
  as well as 5G deployment efforts, the demand for
  fiber optic cables is anticipated to grow rapidly
  in the near future. Aramid and para aramid fibers
  are widely used in the production of fiber optic
  cables. Aramid fiber market manufacturers have
  adopted numerous growth strategies, such as
  expansion of existing manufacturing facilities
  and setting up of new ones, in preparation for
  5G.

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• For instance, in July 2018, China-based Yantai
  Tayho Advanced Materials had invested US89
  million into a para aramid production facility in
  northwest China. The company had aimed to
  manufacture 3,000 tons of para aramid fiber yarns
  to meet the surging demand for optical fiber
  cables for 5G networks. In the following year,
  Japans Teijin had announced plans to boost the
  production of para aramid fibers which it
  manufactures and sells under the name Twaron.
• Citing yet another instance, in May 2020, South
  Korean manufacturer Hyosung Advanced Materials
  had signed an MoU with the city of Ulsan for
  investment in the expansion of its aramid
  facility. As per the deal, the city of Ulsan
  agreed to offer administrative support to Hyosung
  regarding the necessary approvals and
  authorizations.
• Immense potential in advanced applications
• Numerous instances of explosion of mobile
  devices, drones, electric vehicles, and other
  technologies over the years have pushed the
  demand for lightweight materials to power them.
  Researchers at Texas AM University and the
  University of Houston developed a new
  supercapacitor electrode in June 2020 using
  aramid nanofiber and graphene oxide.

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360 Industry Analysis

• The aramid nanofiber provides exceptional
  mechanical strength that enhances the electrodes
  versatility for a range of applications,
  including the military. The research was funded
  by the U.S. Air Force Office of Scientific
  Research. The development of more accurate
  modeling methods will enable the discovery of
  new, more effective nano-architecture solutions
  that can provide higher energy and longer battery
  life with a lighter weight.
• Key growth restraints and COVID-19 impact
• High costs associated with the production of
  aramid fibers could turn out to be a major factor
  restricting their demand in the future. Also,
  lack of availability or raw materials due to the
  recent coronavirus outbreak and subsequent
  disruptions in manufacturing and supply chains
  have affected global aramid fiber industry
  forecast up to certain extent.
•  

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• Competitive Analysis
• The COVID-19 pandemic will affect the product
  demand over the forecast period
• The pandemic has caused the global sales of
  aramid fiber to fall 10 in 2020 in comparison
  with 2019, and still further in early 2021.
  Restricted mobility, decreased customer spending,
  and disrupted equipment supply chains have led to
  decreased fixed investments, causing havoc on the
  aramid fiber producers. Lockdown in several
  countries, such as China, India, U.S., Brazil,
  Italy, Spain, France, and the UK, has also
  affected the production and consumption of the
  product.

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