Aramid Fiber Market to Index Outstanding Growth of USD 6.01 Billion by 2030, Size, Share, Upcoming Trends, Opportunities and Growth Prospectus

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Jan 25, 2023, 10:30 ET

CALGARY, AB, Jan. 25, 2023 /PRNewswire/ -- Data Bridge Market Research has recently published a Report, titled, "Aramid Fiber Market" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. The persuasive Aramid Fiber report provides statistics on the current state of the industry as a valuable source of guidance and direction for companies and investors interested in this market. The report also plays key role in keeping hold of reputation of the firm and its products. The market document contains all the information including market definition, classifications, applications, and engagements while also detailing about what the major players are doing in respect of product launches, joint ventures, developments, mergers and acquisitions and how it is affecting the market in terms of sales, import, export, revenue and CAGR values for the market.

Data Bridge Market Research analyses that the aramid fiber market is expected to undergo a CAGR of 5.80% from 2023 to 2030. This indicates that the market value, USD 3.82 billion in 2022, would rocket up to USD 6.01 billion by 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

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Market Overview:

The aramid fiber market comprises sales of aramid fiber by entities such as sole traders, organizations, and partnerships that refer to a synthetic fiber in which the component of fiber-forming has a long chain of synthetic polyamide with around 85% of the amide linkages attached to two aromatic rings. Aramid fibers are high-performance fibers produced from artificial molecules with comparatively stiff polymer chains. These molecules are combined by strong hydrogen bonds that proficiently transfer mechanical stress and allow for the use of chains with low molecular weight. Aramid fiber is generally used for reinforcement in composites such as aviation, sports goods, and military vehicles, as well as fabrics in clothing such as bulletproof jackets or fire safety garments.

Science and technology continue to develop continuously owing to technological advancements and steady research and development activities. The significance of aramid fiber is rising day by day owing to its numerous features, such as being lightweight in nature, heat resistance, and strength over other fibers. The "para-aramid fiber" is expected to be the highest-growing stimulus segment of the market due to its excellent strength-to-weight ratio, high modulus behavior, and tensile strength over the forecast period.

Opportunities for Players:

Increasing demand for aramid fiber in the military and defense sector

The government's substantial investments in the military and defense sectors will help the para-aramid fiber market expand in the future. The increase in defense spending has allowed governments in many nations to spend money on cutting-edge, lightweight, protective gear for their armed personnel. Aramid fiber is a substitute for asbestos and is used in military and aerospace applications such as maritime cordage and hull reinforcement, ballistic-rated body armor fabric, and ballistic composites. As a result, the substantial government investment in the military and defense sector will promote market growth for aramid fibers and open up vast new opportunities.

Some of the major players operating in the Aramid Fiber market are:

Toray Industries Inc, (Japan)
Dow and Dupont (U.S.)
Teijin limited (Japan)
SOLVAY (Belgium)
Yantai Tayho Advanced Materials Co Ltd. (China)
Hyosung (South Korea)
Kolon Industries Inc. (South Korea)
Huvis Corp, (South Korea)
Kermel (France)
China National Bluestar (Group) Co., Ltd. (China)
X-FIPER NEW MATERIAL CO LTD (China)
Fibrex (U.S.)
Aramid Hpm, LLC (U.S.)

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Key Coverage in the Aramid Fiber Market Report:

Detailed analysis of Aramid Fiber Industry by a thorough assessment of the technology, product type, application, and other key segments of the report
Qualitative and quantitative analysis of the market along with CAGR calculation for the forecast period
Investigative study of the market dynamics including drivers, opportunities, restraints, and limitations that can influence the market growth
Comprehensive analysis of the regions of the Aramid Fiber industry and their futuristic growth outlook
Competitive landscape benchmarking with key coverage of company profiles, product portfolio, and business expansion strategies

Market Dynamics: Aramid Fiber Market

High usage of aramid fiber due to multiple properties

Aramid fiber is highly in demand because it has many advantages over other types of fibers, including tear-resistant, light, comfortable, and multifunctional. They are used in military and aerospace applications, for ballistic composites and ballistic-rated body armor fabric, in marine hull reinforcement, marine cordage and as an asbestos substitute. During the forecast period of 2023–2030, this is some of the major factors fostering the growth of the aramid fiber market.

Rising demand for aramid fiber in the automotive sector

Aramid fibers are more lightweight and durable than other alternatives or materials. They often weight less and are stronger than steel. The automotive industry is concentrating on producing cars that are lighter in weight, which increases the demand for lighter materials. The average fuel consumption of automobiles needs to be reduced, and using lightweight materials such as aramid fiber can help with that goal. The market for aramid fiber is anticipated to grow faster due to the increasing demand for lightweight materials.

High usage of lightweight and fuel-efficient material

Numerous industry competitors are forced to choose replacement materials that are fuel-efficient, light, and sturdy due to the strict laws on reducing carbon emissions. Thus, to reduce weight and minimize energy consumption, several sectors are substituting cutting-edge materials like aramid fiber for conventional ones like steel and aluminum. Para-aramid fibers are also used as an alternative to steel in several applications because they help reduce the overall weight of products and offer increased durability. It is anticipated that the rising demand for lightweight and fuel-efficient materials will drive the market growth rate.

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This study offers the latest product news, trends, and updates from the industry's leading players who have leveraged their market position.
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Key Industry Segmentation: Aramid Fiber Market

Type

Para-Aramid Fiber
Meta-Aramid Fiber

Application

Frictional Materials
Brake Pad
Gasket
Protection
Bullet Proof Vest
Bullet Proof Vehicles
Combat Helmet
Electrical Transmission
Optical Fiber
Others
Safety Garments
Gloves
Fire Fighting Garments
Rubber Reinforcement
Conveyor Belt
Others
Tire Reinforcement
Oil and Gas
Others
Industrial Filtration
Optical Fibers
Others

End User

Automotive,
Aerospace and Defence
Electronics and Telecommunication
Electrical

Regional Analysis/Insights: Aramid Fiber Market

The countries covered in the aramid fiber market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Europe dominates the aramid fiber market in terms of market revenue because the strict safety regulations within industries such as aluminum and steel, construction, oil, and gas fuel the demand for protective clothing, which is increasing the demand for aramid fiber in this region.

North America will continue to project the highest compound annual growth rate during the forecast period of 2023-2030 due to the growing employment of protection and security and measures across many industries in this region.

Table of Contents:

Introduction
Market Segmentation
Executive Summary
Premium Insights
Global Aramid Fiber Market: Regulations
Market Overview
Global Aramid Fiber Market, By Type
Global Aramid Fiber Market, By Application
Global Aramid Fiber Market, By End User
Global Aramid Fiber Market, By Distribution Channel
Global Aramid Fiber Market, By Region
Global Aramid Fiber Market: Company Landscape
SWOT Analyses
Company Profile
Questionnaires
Related Reports

To Check the Complete Table of contents, click here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-aramid-fiber-market

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