Skip to main content

Aramid Fiber Market Demand Stimulated by Automotive and Protective Clothing Industries; Market to Hit US$ 5,099.1 million by 2023

Buoyed by growth in the automotive industry and an uptick in the demand for protective clothing, the global aramid fiber market is expected to report a high single-digit CAGR between 2015 and 2023, says a latest report by Transparency Market Research. 

The report, titled ‘Aramid Fiber Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023’ says that the valuation of the market was US$ 2,598.2 million as of 2014 and will rise to US$ 5,099.1 million by 2023.

This translates to a 7.8% CAGR from 2015 to 2023 for the global aramid fiber market.This synthetic polymer, which is obtained via a reaction between the amine group and arboxylic acid halide group, is widely applied in industrial products and operations. Automotive components, electrical components, protective clothing, and body armor are just a few examples of the applications of aramid fiber. 
The report segments the global aramid fiber market on the basis of product type, en-users, and geographic regions. Segmented thus, the aramid fiber market by products is classed into meta-aramid fiber and para-aramid fiber. The para-aramid fiber segment led the global aramid fiber market as it witnesses massive demand from industries such as automotive, defense, and aerospace. This factor plays a crucial role in making the para-aramid fiber segment the largest in the global aramid fiber market. With a market share of over 70%, the para-aramid fiber segment was not only the largest in 2014, but is also expected to remain the fastest-growing over the forecast period of this report.
Likewise, based on end-users, the following segments have been created: Automotive, aerospace and defense, electronics and telecommunications, electrical, and others. TMR analysts say that about 35% of all aramid fiber produced was consumed by the automotive segment in 2014, making this the largest end-user segment globally. The automotive segment will report a healthy growth rate over the report’s forecast period. However, in terms of rate of growth, the electrical end-use segment is expected to emerge as the fastest with an 8.3% CAGR from 2015 to 2023in revenue terms. The global aramid fiber market will continue to see a progressive increase in demand from the automotive and industrial protective clothing end-use industries. 
The global aramid fiber market is also studied from the geographical perspective by segmenting it into: North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. Europe stood as the largest regional aramid fiber market in 2014 with a 35% share of the overall market. The prospects of the European aramid fiber market look promising as the demand for personal armor and protective clothing will keep the consumption of aramid fiber high. 
From the regional standpoint, the fastest growth in the global aramid fiber market will be reported by Asia Pacific through the report’s forecast period. In India and China, especially, aramid fiber is expected to be consumed in large volumes in automotive, construction, and electrical industries. Demand will also remain steady from ASEAN countries. The expansion of the aramid fiber market in North America is predicted to be striking over the next eight years as the U.S. moves a step closer to normalcy. Latin America will not disappoint, thanks to the rebounding automotive and construction industries – the two major end-users of aramid fiber. 
While Middle East and Africa will not demonstrate a marked improvement in the demand for aramid fiber, the market’s growth will be sustained largely by the oil and gas industry, which stirs up demand for protective clothing.Companies profiled in the aramid fiber market report are: E. I. du Pont de Nemours and Company, Kolon Industries Inc., Teijin Aramid, Yantai Tayho Advanced Materials Co., Ltd, and HYOSUNG Corporation.
Aramid Fiber Market: Product Analysis
  • Para-aramid fiber
  • Meta-aramid fiber
Aramid Fiber Market: End-user Analysis
  • Aerospace & defense
  • Automotive
  • Electrical
  • Electronics & telecommunication
  • Others (including construction)

Labels:
Location: Albany, NY, USA

Comments

Post a Comment

Popular posts from this blog

Global Epoxy Curing Agents Market - Projected to Scale-Up by construction, adhesive, Wind Energy Application to 2022.

“Global Epoxy Curing Agents Market Market Professional Survey Report 2017-2022” Purchase This Report by calling ResearchnReports.com at +1-888-631-6977. Global Epoxy Curing Agents market   Report is a professional and in-depth research report on the world’s major regional market conditions of the Epoxy Curing Agents market, focusing on the main regions (North America, Europe and Asia) and the main countries (United States, Germany, Japan and China). Based on application, the wind energy segment is projected to witness the highest growth from 2017 to 2022, both in terms of value and volume. Wind blades manufacturing is one of the major applications for epoxy curing agents. The depletion of fossil fuels and their volatile prices have resulted in increased energy cost with rise in demand. This research report provides an in-depth analysis of the global Epoxy Curing Agents Market based on enterprise size, services, solution, end-use industry, and geography. The report also prov...
Post a Comment
Read more

Glass Fiber Reinforced Gypsum Market - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2017-2025

Glass Fiber Reinforced Gypsum (GFRG) is a composite application utilizing naturally occurring mineral gypsum combined with reinforcing fibers. It may also contain polymers to increase product strength. The molding process can be either hand lay-up or a chopped strand spray method. Stereotypically, the end product is used for indoor applications with negligible exposure to moisture or other environmental elements. Completed composites are in the form of ornamental or decorative columns, pillars and facades. With the slowdown in world economic growth, the global market has also suffered a certain impact, but still maintained a relatively optimistic growth. In terms of revenue, the Global Glass Fiber Reinforced Gypsum Market was valued at US$ 458.49 Mn in 2016 and is expected to reach US$ 888.35 Mn by 2025, expanding at a CAGR of 7.6% from 2017 to 2025. The Global Glass Fiber Reinforced Gypsum Market is boosted by factors such as: ·       ...
3 comments
Read more

Global Arcylamide Market for Applications like Waste & Wastewater Treatment, Pulp & Paper, Printing & Dyeing, Solid Crystalline - Analysis of Top Key Players and Forecast to 2022

This report comprises a comprehensive outline of the current state of the   Global Arcylamide market   and projects its growth and every other central elements across major provincial markets. It presents an immense amount of market information that has been collected with the help of countless number of prime and subordinate research techniques. The statistics of this report has been tapered down using numerous industry based analytical procedures. An in depth synopsis of key market drivers, inclinations, manacles are provided and the study analyzes the way they shake the Global Arcylamide market in an affirmative as well as an adverse way. The topographies which are enclosed in this report are North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Taking into consideration the given prediction period and specifically studying each and every data annually, a report is been enlisted to ensure the data is well anticipated by clients. Increasing u...
Post a Comment
Read more