Global Aramid Fiber Market Forecast to See 8.9% CAGR to 2021

Apr 13, 2016, 06:00 ET from ReportsnReports

PUNE, India, April 13, 2016 /PRNewswire/ --

Driven by need of security and protective measures, aramid fiber market size is estimated to have been $2.99 billion in 2015 and is projected to reach $5.07 billion by 2021, registering a CAGR of 8.9% between 2016 and 2021. The market is largely driven by the increased demand from end-use industries. In addition, the rising concern for the safety of the industrial workers increases the demand for aramid fiber, globally.

Complete report on global aramid fiber market spread across 152 pages, profiling 10 companies and supported with 80 tables and 43 figures is now available at .

The demand for para-aramid fiber is driven by the increased demand from various sectors such as security & protection, automotive, aerospace, and optical fiber due to its high mechanical strength and abrasion resistance. Moreover, they are used in braking systems, chassis of coaches, and the interiors for reducing weight among other applications.

However, meta-aramid fiber is projected to register the highest growth during the forecast period. This is because of increased demand from security & protection and electrical insulation applications.

In the security & protection application segment, aramid fibers are used to make fire-, cut-, and stab-resistant protective clothing such as helmets, footwear, coveralls, and gloves. They are used for military, industrial, and civil purposes. The need for thermal and ballistic protection is rising within the civil law enforcement and armed forces due to the increasing war-like situations and terrorist activities. The market is being driven by stringent regulations in developed economies such as European countries and the U.S. In developing economies, on the other hand, growing concern for employee health &safety is driving the demand for aramid fiber, in the form of protective clothing.

The growing concern for safety of the industrial workers is the key factor driving the aramid fiber market in security & protection application.

Various key players profiled in the report include E.I. du Pont de Nemours & Co. (U.S.), Tejin Limited (Japan), Yantai Tayho Advanced Materials Co. (China), Toray Chemical Korea Inc. (South Korea), Hyosung Corporation (South Korea), Kolon Industries Inc. (South Korea), Huvis Corporation (South Korea), Kermel (France), China National Bluestar Co, Ltd. (China), and SRO Aramid Co. Ltd. (China). Order a copy of Aramid Fiber Market by Type (Para-aramid, Meta-aramid, and Others), and Application (Security & Protection, Frictional Materials, Optical Fiber, Tire Reinforcement, Rubber Reinforcement, Electrical Insulation, Aerospace, and Others) - Global Trends & Forecasts to 2021 research report at .

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (37%), Tier 2 (50%) and Tier 3 (13%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (50%), Director Level (31%) and others (19%) from various key organizations operating in the global aramid fiber market. The primary interviews were conducted worldwide covering regions such as North America (28%), Europe (33%), APAC (22%) and Middle East & Africa (6%).

On a related note, another research on Ceramic Fiber Market Global Trends & Forecasts to 2020 says, the global ceramic fiber market is projected to reach USD 5.00 billion by 2020 at a CAGR of 9.4% between 2015 and 2020. Petrochemical end-use industry is to dominate the ceramic fiber market. Asia-Pacific is to dominate the ceramic fiber market. Companies like Morgan Thermal Ceramics (U.K.), Unifrax Corporation (U.S.), Luyang Energy-saving Materials Co. Ltd., IBIDEN Co. Ltd., Isolite Insulating Products Co., Ltd., Nutec Fibratec, General Insulation Europe Ltd., Thermost Thermotech Co. Ltd., Yeso Insulating Products Co. Ltd. and Rath Inc. have been profiled in this 156 pages research report available at .

Explore more reports on the Advanced Materials market at .

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