The global aramid fibers market is expected to reach usd 6.60 billion by 2026, according to a new report by Reports and Data. this can be mainly associated with enhanced demand for lightweight materials in security & protection applications in various industry globally. Based on statistics, increased need for emission reduction in vehicles is expected to become…
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Global Aramid Fibers Market Projected to Hit USD 6.60 Billion by 2026
The global aramid fibers market is expected to reach usd 6.60 billion by 2026, according to a new report by Reports and Data. this can be mainly associated with enhanced demand for lightweight materials in security & protection applications in various industry globally. Based on statistics, increased need for emission reduction in vehicles is expected to become the most common growth interest globally in the coming years. High customer requirements and global enhanced demand from aerospace and automotive industry are also significant factors stimulating market demand
Europe has the largest market for aramid fiber with a share of 40% in 2018, and is expected to reach USD 2.77 billion by 2026. Owing to the increasing government regulations and environmental conditions in the defense and automotive industries.
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Key participants include:
DowDuPont, Toray Industries Inc., Hyosung Corp. , Kolon Industries Inc., China National Bluestar (Group) Co. Ltd., Huvis Corp., Yantai Tayho Advanced Material Co., Teijin Ltd., Kermel, Taekwang Industrial Co., Ltd.
Further key findings from the report suggest
- Due to the hard molecular structure and high strength, Para-aramid fiber is projected for the market growth with a CAGR of 8.3% during the forecast period, which drive its usage in security and protection application. Growing demand for safety goggles, protective headgear, protective footwear, gloves, earplugs, safety harnesses, and others is anticipated to increase product demand over the forecast period.
- With a significant yellow color, aramid fibers are frequently used in exceptional composite products which require light-weight and high-strength properties. Aramid fibers have very high tensile strength, which is why they are mostly used in ballistic and armor protection applications.
- High tensile strength segment is estimated to register the highest share of 61% in 2018, and is widely used for this property.
- The meta aramid fibers have very good chemical, thermal and radiation resistance some examples of this fibers are teijiconex and nomex.
- The dry spinning is the most commonly used technology used for the manufacturing of aramid fibers.
- Para-aramids are mainly used for bullet-proof body armor fabric in various high-tech applications, such as military and aerospace applications. Both para-aramid and meta-aramid fiber can be used to make aramid paper.
- The Meta aramid fiber is expected to grow by 8.8% during the forecasted period.
- The security and protection segment is estimated to register the highest growth of 10.2% in North America. Due to the advancement in technology and for market demand, the aramid fibers market is growing at a rapid rate.
- For the year 2018, over 34% of aramid fiber produced are used for security and protection applications in various industries such as military and law enforcement, pharmaceuticals, building and construction, and firefighting.
- The property of high melting point is estimated to grow at a rate of 9.2% during the forecasted period.
- Europe is the largest market for aramid fiber with a share of 40% in 2018, owing to the increasing government regulations and environmental conditions in the defense and automotive industries. APAC is estimated to register the highest CAGR of 9.7%, during the forecasted period.
- The aerospace segment in Europe is accounted for the largest share of 40% in 2018 and is expected to reach USD 1.16 billion by 2026.
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For the purpose of this report, Reports and Data have segmented global Aramid Fibers Market on the basis of Product, Technology, Application, Property and region:
- Product Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Para-aramid Fiber
- Meta-aramid Fiber
- Technology Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Wet spinning
- Dry spinning
- Application Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Aerospace
- security and protection
- Aerospace
- Automotive
- Telecommunication
- Optical fibers
- Property Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- High tensile strength
- High melting point
- Non conductive
- Regional Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- South-east Asia
- Latin America
- Brazil
- MEA
- North America
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The post Aramid Fibers Market Share To Reach USD 6.60 Billion By 2026 Says Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.
