Aramid Fiber Market Worth $6.98 Billion By 2030 | CAGR: 5.3%

 Aramid Fiber Industry Overview

The global aramid fiber market size was estimated at USD 3.62 billion in 2021 and is estimated to register a compound annual growth rate (CAGR) of 5.3% over the forecast period. Rising product demand from various industries, such as oil & gas, healthcare, manufacturing, and others owing to the stringent government regulations related to workplace safety is estimated to fuel the market growth over the forecast period. The market witnessed a steep decline in growth, owing to the lack of demand from the industrial sector during the COVID-19 crisis. Government-imposed restrictions caused a temporary closure across a wide range of industries, which resulted in limiting the product demand.

In addition, a large number of manufacturers suffered huge financial losses due to the pandemic, leading to a number of manufacturers opting to postpone the installation of new automation systems. However, the industry witnessed a significant rise in product demand from the medical sector, which benefitted the market. The market growth in the U.S. is expected to be driven by a rise in the adoption of several advanced material handling equipment, such as wagon tipplers, belt conveyor systems, and bucket elevators, for easy movement and handling of materials, in the cement industry.

Gather more insights about the market drivers, restrains and growth of the Global Aramid Fiber market

 

In addition, the adoption of advanced robotic systems in warehousing as per the trend of zero-labor warehousing in the U.S. is expected to benefit the market growth. An increasing number of onshore and offshore drilling activities coupled with the growing shale oil & gas industry are expected to drive the product demand in the U.S. over the forecast period. The para-aramid fiber segment is projected to witness significant growth on account of increasing demand from the application segments owing to the rigid molecular structure of para-aramid fibers.


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Aramid Fiber Market Segmentation

Grand View Research has segmented the global aramid fibers market based on product, application, and region:

Aramid Fibers Product Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2030)

  • Para-Aramid
  • Meta-Aramid

Aramid Fibers Application Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2030)

  • Security & Protection
  • Frictional Materials
  • Rubber Reinforcement
  • Optical Fibers
  • Tire Reinforcement
  • Electrical Insulation
  • Aerospace
  • Others

Aramid Fibers Regional Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

 

Key Companies profiled:

Some prominent players in the global aramid fiber market include:

  • Teijin Ltd.
  • Yantai Tayho Advanced Materials Co
  • I. du Pont de Nemours and Company (DowDuPont)
  • Hyosung Corp.
  • Toray Chemicals South Korea, Inc.
  • Kermel S.A.
  • Kolon Industries, Inc.
  • Huvis Corp.
  • China National Bluestar (Group) Co., Ltd.
  • SRO Aramid (Jiangzu) Co., Ltd.

 

Order a free sample PDF of the Aramid Fiber Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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