The para aramid fiber market is expected to reach an estimated $3.9 billion by 2024 with a CAGR of 7.4% from 2019 to 2024
NEW YORK, Dec. 31, 2019 /PRNewswire/ --
Trends, opportunities and forecast in the para aramid fiber market to 2024 by application (frictional materials, protection, electrical transmission, safety, rubber reinforcement, tire reinforcement, oil and gas and others), product form (filament yarn, short fibers, pulp and others) and region (North America, Europe, Asia Pacific and ROW)
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The future of the para aramid fiber market looks promising with opportunities in the frictional materials, protection, electrical transmission, safety garments, rubber reinforcement, tire reinforcement, and oil and gas industries. The para aramid fiber market is expected to reach an estimated $3.9 billion by 2024 with a CAGR of 7.4% from 2019 to 2024. The major drivers for this market are increasing usage of para aramid fiber in brake pads, clutches, gaskets, linings, and tires in automotive and the growing demand for protective clothing in defense and industrial sectors.
An emerging trend, which has a direct impact on the dynamics of the industry, includes development of new para aramid fabric which protects structures from airborne volcanic fragments. Teijin, DuPont, Kolon, Hyosung, and Yantai Tayho are among the leading suppliers of para aramid fiber market.
The study includes the para aramid fiber market size and forecast for the para aramid fiber market through 2024, segmented by Application, product , and by region as follows:
Para Aramid Fiber Market by Application:
Frictional MaterialsProtectionElectrical TransmissionRubber Reinforcement Tire ReinforcementOil and GasOthers
Para Aramid Fiber Market by Product:
Filament Yarn Short FibersPulpOthers
Para Aramid Fiber Market by Region [$M shipment analysis for 2013 to 2024]:
North AmericaUnited StatesCanada MexicoEuropeUnited Kingdom
GermanyAsia PacificJapanChinaThe Rest of the World
Some of the para aramid fiber companies profiled in this report include Teijin Aramid, DowDuPont, Kolon Industries Inc.,Hyosung Corporation ,Yantai Tayho Advanced Materials Co. Ltd. and others.
The analyst forecasts that the filament yarn will remain the largest segment by value and it is also expected to witness the highest growth over the forecast period due to increasing demand for protective clothing in the military and stringent regulations in Europe and North America regarding employee health and safety.
Within para aramid fiber market, frictional materials will remain the largest application by value due to growing penetration of para aramid fiber in brake pads and gasket as an alternative material to asbestos in automotive industry. Optical fiber is expected to witness the highest growth over the forecast period due to increasing demand for high bandwidth fiber optic cables for data services and communication.
Europe will remain the largest region and it is also expected to witness the highest growth over the forecast period due to increasing automotive production, growth in aerospace industry, and stringent government regulation on industrial safety and protection.
Some of the features of "Para Aramid Fiber Report: Trends, Forecast and Competitive Analysis" include:
Market size estimates: para aramid fiber market size estimation in terms of value ($M) and volume (M Lbs.) shipment.
Trend and forecast analysis: Market trend (2013-2018) and forecast (2019-2024) by end use industry.
Segmentation analysis: para aramid fiber market size by application, product in terms of value shipment.
Regional analysis: para aramid fiber market breakdown by key regions such as North America, Europe, and Asia & Rest of World.
Growth opportunities: Analysis on growth opportunities in different applications and regions of para aramid fiber in the para aramid fiber market.
Strategic analysis: This includes M&A, new product development, and competitive landscape of para aramid fiber in the para aramid fiber market.
Analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report answers the following 11 key questions:
Q.1 What are some of the most promising, high-growth in the para aramid fiber market by application (frictional materials, protection, electrical transmission, safety, rubber reinforcement, tire reinforcement, oil and gas and others), product form (filament yarn, short fibers, pulp and others) and region (North America, Europe, Asia Pacific and ROW) and why?
Q.2.
Which application segments will grow at a faster pace and why?
Q.3.
Which region will grow at a faster pace and why?
Q.4.
What are the key factors affecting market dynamics? What are the drivers and challenges in the market?
Q.5.
What are the business risks and competitive threats in this para aramid fiber market?
Q.6.
What are emerging trends in this para aramid fiber market and reasons behind them?
Q.7.
What are some changing demands of customers in the para aramid fiber market?
Q.8.
What are the new developments in the para aramid fiber market and which companies are leading these developments?
Q.9.
Who are the major players in this para aramid fiber market? What strategic initiatives are being implemented by key players for business growth?
Q.10.
What are some of the competitive products in this para aramid fiber market and how great of a threat do they pose for loss of market share through product substitution?
Q.11.
What M & A activities have transpired in the last 5 years in this para aramid fiber market and how have they affected the industry?
Read the full report: https://www.reportlinker.com/p05835582/?utm_source=PRN
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