Global Aramid Fiber (Security & Protection, Frictional Material, Tire & Rubber Reinforcement, Optical Fiber, Electrical Insulation, Aerospace, Others) Market - Trends & Forecasts to 2019

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Dec 02, 2014, 02:07 ET

DUBLIN, Dec. 02, 2014 /PRNewswire/ -- Research and Markets has announced the addition of the "Aramid Fiber Market by Type and Application - Global Trends & Forecasts to 2019" report to their offering.

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Aramid fibers are artificial synthetic polymers that were first developed in the 1960's as a replacement for steel in radial tires. Aramid fiber display a wide array of unique properties, such as high-strength bearing capacity, high thermal resistance, flame resistance, resistance to most of the chemicals and bases, low density, and electrical insulation.

The aramid fiber market can be classified into two key segments, on the basis of type para-aramid fiber, meta-aramid fiber, and other aramid fiber that include co-poly aramid fiber and ter-poly aramid fiber. Meta-aramid fiber is the fastest-growing type that finds use in applications that require high thermal resistance such as security & protection, electrical insulation, and rubber reinforcements among other. Para-aramid fiber is the largest consumed fiber finding applications, such as security & protection, frictional materials, optical fiber, and tire reinforcement among others.

The aramid fiber market is projected to register a CAGR of 8.7% between 2014 and 2019 to reach $3,067 million. The security & protection is the largest application for the market and is estimated to continue to dominate the market in 2019. Optical fiber and aerospace application of aramid fiber are projected to be the driving force for the growth of the market between 2014 and 2019. Increasing global conflicts leading to increased military spending, need for lighter and more fuel efficient vehicles will be the reasons for the growth of the market. High prices of aramid fibers and high price of treatment to negate UV degradation will be the restraints for the market.

Europe dominated the market followed by North America, majorly due to the demand for security & protection application in these regions. Asia-Pacific and Latin America are projected to witness high growth rates in terms of volume during the forecast period (2014-2019). The market in Europe and North America is consolidated, whereas the aramid fiber market in Asia-Pacific has a fragmented structure, where China and Republic of Korea have many small and upcoming aramid fiber manufacturers.

The competition level in the market is expected to increase with the capacity expansions of the small players. The players in the market have been focusing on the development of new product variants to offer higher quality and performance to their consumers. Emerging regions will be targeted by all players in the industry in order to consolidate their position in the aramid fiber market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Aramid Fiber Market, By Type

8 Aramid Fiber Market, By Application

9 Regional Analysis

10 Competitive Landscape

11 Company Profiles

12 Appendix

Companies Mentioned: