Aramid Fibers Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026

Report Code: CMR 83974 Report Format: PDF + Excel

Aramid Fibers Market Overview

The global aramid fibers market size is estimated to reach a value of USD US$6.5 billion by the end of 2027 and is projected to grow at a CAGR of 10.3% during the forecast period of 2022-2027. Aramid fibers are synthetic fibers that are made from aromatic polyamides and possess superior characteristics like high strength, resistance to heat, abrasion & solvents and electrical insulation. Aramid Fibers can be segmented into two types, namely, Para-aramid and Meta-aramid fibers. It is typically used in applications such as ballistic composites, protective clothing, industrial filtration, optical fibers and so on. Aramid Fibers are known to possess superior tensile strength, even more so than steel, and works efficiently even at temperatures as high as 600 degrees Celsius. They also possess dielectric properties which makes them ideal for electrical applications. The report coverage includes market segmentation, market landscape, drivers and challenges.

COVID-19 Impact

During the COVID-19 Pandemic, many industries had suffered a decrease in demand, and it was no different for the Aramid Fibers Market. Many governments across the globe implemented lockdown regulations and factories and production in many sectors came to a halt. The supply chain was greatly disrupted as many businesses followed the lockdown protocols. The economic impact of COVID-19 severely impacted the Aramid Fibers Market. According to Organisation Internationale des Constructeurs d’Automobiles (OICA), the production of passenger vehicles decreased by 16.9% from 2019 to 2020. The Automotive Industry is one of the primary End-Use Industries that support the Aramid Fibers market so a drop in their production also negatively impact the Aramid Fibers Market. However, the global response to COVID-19 has been robust and many countries and governments are now relieving Pandemic protocols. The Aramid Fibers Market is now seeing an increase in demand and is estimated to show a positive growth in the forecast period of 2021-2026.

Aramid Fibers Market Report Coverage

The report: “Aramid Fibers Market – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Aramid Fibers Industry.

By Type: Para-aramid and Meta-aramid.
By Application: Protective & Ballistic Clothing, Frictional Materials, Industrial Filtration, Electrical Insulation, Rubber Reinforcement, Tire Reinforcement, Optical Fibers, Others.
By End-Use Industry: Automotive, Aerospace & Defense, Tire Industry, Oil & Gas, Marine Industry, Electrical & Electronics, Telecommunications, Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa).

Key Takeaways

  • Asia-Pacific is the fastest-growing region for the Aramid Fibers market, and it can be attributed to the growth of the Aerospace and Defense Industry, especially in China and India.
  • Para-aramid Fibers possess higher Tensile Strength and are more commonly used in strengthening applications like protective and ballistic clothing while Meta-aramid Fibers are known for high heat resistance and their electrical insulation and are used more in the Electrical and Electronics Industry.
  • Aramid Fibers are most commonly used in Protective & Ballistic Clothing due to their superior tensile strength and high resistance to heat and abrasion.
  • During the Pandemic, there was a decrease in the demand for Aramid Fibers, and the supply chain was greatly disrupted.

Figure: Asia-Pacific Aramid Fibers Market Revenue, 2021-2027 (USD$ Billion) 

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Aramid Fibers Market Analysis – By Type

The para-aramid segment dominated the global aramid fibers market with a revenue share of more than 60% in 2021. This is because para-aramid fibers showcase outstanding strength-to-weight ratio as well as high tensile strength. This makes para-aramid fibers ideal for applications in protective and ballistic clothing and for the production of lightweight vehicles. While Meta-aramid fibers possess lesser tensile strength, they have a much higher resistance to temperature and showcase brilliant electrical insulation. These factors make Meta-aramid Fibers ideal for the Electrical and Electronics Industry.

Aramid Fibers Market Analysis – By End-Use Industry

The aerospace and defense industry held the largest share of more than 70% in 2020. Aramid Fibers are used as reinforcement components in the primary wings and the fuselage in new-generation aircraft. They are also used in the landing gear doors and edge panels. The Boeing Commercial Market Outlook 2021-2040 has estimated that the world fleet of aircraft will grow by a total of 43,610, an estimate of 3.1% growth. This is primarily being contributed by Asia-Pacific, especially China. The Aerospace and Defense Industries Association of Europe (ASD) has stated that the European Defense Sector generated revenue of EUR 116 billion in 2019, which accounts for more than 20% of the Global Defense Sector. Aramid Fibers possess superior qualities like high tensile strength while being lightweight and having a high resistance to heat and abrasion. These factors make them ideal for use in aircraft. As the Aerospace and Defense Industry grows, we can also correlate the growth of the Aramid Fibers Market.

Aramid Fibers Market Analysis – By Geography

The Asia-Pacific region holds the largest share of more than 30% in the aramid fibers Market. This is primarily due to the substantial growth of the aerospace industry in the Asia-Pacific Region. According to Boeing Commercial Market Outlook 2021-2040, China is estimated to acquire 8,700 new aircraft within the next 20 years. China, also, currently accounts for 13% of the worldwide fleet which is estimated to be 19.9% by 2040. Boeing reports that within the next 20 years, a total of 4,415 aircraft deliveries will be sanctioned in South Asia, with India having the highest demand due to its increase in domestic air traffic. Other than the aerospace industry, the military sector of Asia-Pacific is also a driving factor for the Aramid Fibers Market, especially in China. Aramid Fibers are essential in making protective and ballistic clothing. These factors promote the growth of the Aramid Fibers Market in Asia-Pacific and make it the largest market.

Aramid Fibers Market Drivers

Shift to Lightweight Automobiles:

The demand for Lightweight Automobiles, especially Premium Lightweight Automobiles, has seen an increase, and Aramid Fibers are primarily used to make Automobiles weigh less while also maintaining superb strength and rigidity. The lightweight factor is highly sought after by Original Equipment Manufacturers (OEMs) because they greatly help in improving fuel efficiency and mileage, as well as maintaining rigidity and sturdiness. According to the Organisation Internationale des Constructeurs d’Automobiles (OICA), 55.8 million passenger cars were produced in the year 2020. Many OEMs are adopting Aramid Fibers for its qualities and more and more vehicles have Aramid Fibers in their composition. The shift in trend to lightweight automobiles is one of the key driving factors in the Aramid Fibers Market.

Aramid Fibers Market Challenges

High Cost of Production:

The cost of production for Aramid Fibers is considerably higher and as such, it proves to be a challenge for the industry. The cost of production for a 1500 denier para-aramid fiber costs USD $23-27 per pound while the cost of a 1200 denier meta-aramid fiber costs USD $39 per pound. This is due in part to the large investment in technology and machinery and the supply of raw materials. The heavy investment, as well as Research & Development costs, are one of the key challenges to the Aramid Fibers Market.

Aramid Fibers Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Aramid Fibers Market. The key companies in the Aramid Fibers Market are:

1. TEIJIN Limited
2. DuPont
3. Yantai Tayho Advanced Materials Co.
4. Kolon Industries, Inc.
6. Toray Industries Inc.
7.  Huvis
8. China National BlueStar Group Company
9. Taekwang Industrial
10. JSC Kamenskvolokno and Guangdong Charming Company

Acquisitions/Technological Launches

  • On 20 May 2020, Ulsan City, South Korea signed a Memorandum of Understanding (MOU) with HYOSUNG Advanced Materials to help expand the company’s Aramid Factory.
  • On 14 August 2021, Teijin Aramid engineered a new protective suit for motor racing that was worn during the Berlin Formula E ‘E-Prix’. The suit is characteristically ultralight and hosts superior protective qualities essential for motor racing.

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1. Aramid Fibers Market- Market Overview
    1.1 Definitions and Scope
2. Aramid Fibers Market - Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Application
    2.3 Key Trends by End-Use Industry
    2.4 Key Trends by Geography
3. Aramid Fibers Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Aramid Fibers Market - Startup companies Scenario Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Aramid Fibers Market – Industry Market Entry Scenario Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Aramid Fibers Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Aramid Fibers Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Aramid Fibers Market – By Type (Market Size -$Million/Billion)
    8.1 Para-aramid
    8.2 Meta-aramid
9. Aramid Fibers Market – By Application (Market Size -$Million/Billion)
    9.1 Protective & Ballistic Clothing
    9.2 Frictional Materials
    9.3 Industrial Filtration
    9.4 Electrical Insulation
    9.5 Rubber Reinforcement
    9.6 Tire Reinforcement
    9.7 Optical Fibers
    9.8 Others
10. Aramid Fibers Market – By End-Use Industry (Market Size -$Million/Billion)
    10.1 Automotive
    10.2 Aerospace & Defense
    10.3 Tire Industry
    10.4 Oil & Gas
    10.5 Marine Industry
    10.6 Electrical & Electronics
    10.7 Telecommunications
    10.8 Others
11. Aramid Fibers Market - By Geography (Market Size -$Million/Billion)
    11.1 North America
        11.1.1 USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Netherlands
        11.2.6 Spain
        11.2.7 Russia
        11.2.8 Belgium
        11.2.9 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
   Saudi Arabia
   Rest of the Middle East
        11.5.2 Africa
   South Africa
   Rest of Africa
12. Aramid Fibers Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Aramid Fibers Market – Industry / Segment Competition landscape Premium Premium
    13.1 Company Benchmarking Matrix – Major Companies
    13.2 Market Share at Global Level - Major companies
    13.3 Market Share by Key Region - Major companies
    13.4 Market Share by Key Country - Major companies
    13.5 Market Share by Key Application - Major companies
    13.6 Market Share by Key Product Type/Product category - Major companies
14. Aramid Fibers Market – Key Company List by Country Premium Premium
15. Aramid Fibers Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10
"*Financials would be provided on a best-efforts basis for private companies"

List of Tables

1 US Aramid Fibers Market Size 2018
2 Canada Aramid Fibers Market Share 2018
3 Brazil Aramid Fibers Market Outlook 2019 - 2023
4 Mexico Aramid Fibers Market Research 2018
5 Germany Aramid Fibers Market Trends 2019 - 2023 
6 France Aramid Fibers Market Growth 2019 - 2023 
7 UK Aramid Fibers Market Demand 2019 - 2023 
8 Italy Aramid Fibers Market Segmentation 2018
9 Russia Aramid Fibers Market Analysis 2019 - 2023
10 China Aramid Fibers Market Revenue 2019 - 2023
11 Japan Aramid Fibers Market Volume 2019 - 2023
12 South Korea Aramid Fibers Market Potential 2019 - 2023
13 India Aramid Fibers Market Leaders 2018
14 Saudi Arabia Aramid Fibers Market Forecast 2019 - 2023 
15 Kuwait Aramid Fibers Market Value 2018

List of Figures

For complete list of 60+ tables and 60+ figures follow the Link