Para-aramid Fibers Market - Forecast(2022 - 2027)

Report Code: CMR 11375 Report Format: PDF + Excel

Para-aramid Fibers Market Overview

Para-aramid fibers market size is forecast to reach $6.6 billion by 2026, after growing at a CAGR of 7.2% during 2021-2026. Para-Aramid is an aromatic polyamide distinguished by long, rigid polymer crystalline chains. The major drivers for this market are the increasing usage of para-aramid fiber in brake pads, clutches, transmission belts, gaskets, linings, and tires in automotive and the growing demand for protective clothing in defense and industrial sectors. Also, the increasing utilization of para-aramid fiber as an alternative to asbestos and steel in military and aerospace applications for ballistic grade body armor fabric is likely to fuel market growth over the forecast period. Furthermore, stringent government norms regarding the safety of employees at the workplace and large penalties for non-compliance with these standards is also anticipated to contribute to the para-aramid fiber industry growth during the forecast period.

COVID-19 Impact

The COVID-19 pandemic has impacted the day-to-day practices of virtually all major companies around the world, bringing economies to a standstill. This has led to a decrease in the demand and production of aromatic polyamides such as aramid fibers in most of the applications, which is lowering the consumption of para-aramid fibers in 2020. The adoption of these fibers in personal protective equipment (PPE) apparel, on the other hand, has rapidly increased. The manufacturers are also focused first on fulfilling the PPE orders because during the pandemic they have become a critical component. For instance, DuPont is manufacturing PPE clothing based on its Nomex aramid, Kevlar & Tychem, and Tyvek. The demand for aromatic polyamides such as aramid fibers is very high as compared to other materials, owing to which the market is gradually gaining momentum again.

Report Coverage

The report: “Para-aramid Fibers Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the para-aramid fibers Industry.
By Product Form: Paper, Filament Yarn, Powder, Film, Short-Cut Fibers, Pulp, and Others.
By Application: Reinforcement (Composites, Rubbers, Elastomers, Cables, and Others), Protective Apparels (Chemical Resistant apparels, Flame Resistant apparels, Cut Resistant apparels, and Others), Ballistic Protective (Body Armor, Bullet-Proof Vests, Vehicle Armor, Helmets, and Others), Friction Linings (Clutch Plates, Brake Pads, Transmission Belts, and Others), Adhesives & Sealants, and Others.
By Application: Protection & Security, Automotive (Automotive Cars, Light Commercial vehicles (LCV), Heavy Commercial Vehicles (HCV), and Others), Aerospace (Commercial, Military, and Others), Electrical & Electronics (Fibre Optic, Electromechanical Cables, Circuit Boards, And Others), Marine (Passenger, Supply Vessels, Cargo, and Others), Industrial (Mining, Oil& Gas, Power Generation, Chemical, and Others), Building & Construction (Residential, Commercial, and Others), Sports (Tennis Strings, Hockey Sticks, and Others), and Others.
By Geography: North America (U.S., Canada, and Mexico), Europe (U.K, 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

  • Europe dominates the para-aramid fibers market, owing to the increasingly stringent government regulations in the region governing the proper usage of proper personal protective equipment (PPE) in the workplaces.
  • Para-aramid fibers are used widely in friction and sealing products as an alternative to asbestos. Due to superior advantages such as extended life, non-glaze/smear on the surface of the lining, fade resistance, and non-aggressive wear on drums and discs, they are commonly used in friction plates, transmission belts, and pads. Over the projected period, this is expected to fuel demand.
  • Furthermore, Para-aramid fibers are used as strength providers in the design and manufacturing of fiber optic cables owing to their low weight, flexibility, dielectricity, and handling. Thus, the rise in demand for high bandwidth fiber optic cables for data services and communication is also expected to have a positive influence on the market.
  • Increasing onshore and offshore drilling activities, coupled with a thriving shale oil and gas industry is also anticipated to play a key role in driving the demand for aromatic polyamides such as para-aramid during the forecast period.

Para-aramid Fibers Market Segment Analysis - By Product Form

The filament yarn segment held the largest share in the para-aramid fibers market in 2020 and is expected to grow at a CAGR of 7.8% during 2021-2026, owing to the various benefits that it offers when compared to other fiber forms. Filament yarn-based para-aramid fibers offer extensive characteristics such as excellent strength-to-weight properties, high dimensional stability, heat resistance, flame resistance, chemical resistant, and more. Owing to these extensive characteristics of filament yarn-based para-aramid fibers are largely employed in applications such as filtration, protective clothing, transmission belts, laundry tape, and more. Thus, these extensive characteristics are the major factor driving the demand for filament yarn-based para-aramid during the forecast period.

Para-aramid Fibers Market Segment Analysis - By End-Use Industry

The protection & security segment held the largest share in the para-aramid fiber market in 2020 and should grow at a CAGR of 8.2% during 2021-2016. A huge amount of para-aramid fiber is used in safety & protection applications such as military, private security, municipal law enforcement, and private contractors involved in government projects. Para-aramid fiber is also used in personal protective equipment (PPE) to help manufacturers provide premier cut protection from on-the-job hazards in the automotive, manufacturing, construction, aerospace, and electronics industries. These fibers are generally sued to make stab-proof, fire-proof, and cut-proof protective clothing such as coveralls, gloves, footwear, and helmets. Recent technological advancements in armors helped to reduce the extra weight for soldiers, and also further improvisation in personal protective clothing is driving the demand for soft and lightweight armor materials.

Figure: Europe Para-aramid Fibers Market Revenue, 2020-2026 (US$ Billion)


Para-aramid Fibers Market Drivers

Stringent Government Regulations Regarding the Safety of Employees at the Workplace

Various governments are implementing stringent regulations to govern the proper usage of protective apparel in worksites to ensure the safety of employees. For instance, according to the Food Safety (General Food Hygiene) Regulations, it is mandatory for every person working in a food handling area to wear suitable, clean, and appropriate, protective clothing. Also, the Control of Substances Hazardous to Health Regulations (COSHH) made it necessary for food industry workers to use protective clothing and equipment. Therefore, owning to these regulations the demand for protective clothing from the food industry is increasing. In addition, various government regulations and standards have made it mandatory for metal and mining industry workers to wear protective clothing, such as NFPA 70E, ANSI / ISEA 138, and so on. Hence, owing to these regulations the demand for protective clothing from the metal and mining industry is increasing. Various government regulations and standards have made it necessary for law enforcement and firefighters to wear protective clothing while performing their duties such as NFPA1971, EN 1486, EN 13911, and EN 659. Therefore, owning to these regulations and standards the demand for protective clothing is increasing, which is driving the para-aramid fibers market growth.

Flourishing Automotive and Aerospace Industry

The use of para-aramid fibers in tires provides advantages such as higher performance, higher protection, higher comfort, and lower fuel consumption, resulting in increased demand from the automotive industry. In addition, para-aramid fibers are also used in aerospace components, including wings, fuselage, landing gear doors, trailing edge plates, vertical and horizontal stabilizers, and flight control surfaces. They are used primarily in these components because of their superior performance characteristics such as impact resistance and low weight. And the automotive and aerospace industry is flourishing in various regions. For instance, according to Organisation Internationale des Constructeurs d'Automobiles (OICA), the production of light commercial vehicles has increased from 1,348,932 in 2018 to 1,431,904 in 2019, an increase of 6.2% in Canada. In November 2020, Boeing projected that China's airlines will buy $1.4 trillion worth of 8,600 new aircraft and $1.7 trillion worth of commercial aviation services over the next 20 years. By 2030, Boeing's latest business outlook predicts demand for 2,520 new aircraft in the Middle East. And with the flourishing automotive and aerospace industry, the demand for para-aramid will also substantially increase, which will then drive the market growth.

Para-aramid Fibers Market Challenges

Presence of Alternative Materials and High Production Cost of Para-Aramid Fibers

It is anticipated that the danger of substitutes will remain moderate over the forecast period. While aramid fibers are extremely famous for their robust applications in the industry, they also have some demerits. The propensity to absorb moisture, for instance, discourages their use in a wet environment. These products are also combined with epoxy systems to solve certain problems. Such additives further increase the overall cost of the product and unlatch the door for other substitute materials. For instance, carbon, glass, and polyethylene fibers can be used as alternatives to para-aramid fibers depending on the requirement in various application segments. Furthermore, product manufacturers are facing numerous challenges, elevated manufacturing costs, and low production efficiency, high initial investment, and inconsistent raw material supply are also expected to hamper market growth, thereby restraining the para-aramid fibers market growth during the forecast period.

Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the para-aramid fibers market. Major players in the para-aramid fibers market are China National Bluestar (Group) Co. Ltd., DuPont de Nemours Inc., Huvis Corp., Hyosung Corp., Kermel, Kolon Industries Inc., Sro Aramid (Jiangsu) Co. Ltd., Teijin Ltd., Toray Industries Inc., and Yantai Tayho Advanced Materials Co.

Acquisitions/Technology Launches

In November 2020, Teijin Aramid announced the results of its sustainability-focused pilot program (2018). The pilot proves that this innovative approach can improve the environmental impact of Teijin Aramid’s production processes, without altering the material properties of the resulting ultra-high-strength para-aramid fibers under the brand name Twaron® yarn.

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1.  Para-aramid Fiber Market- Market Overview

1.1  Definitions and Scope

2.      Para-aramid Fiber Market - Executive Summary

2.1     Key Trends by Product Form

2.2    Key Trends by Application

2.3    Key Trends by End-Use Industry

2.4    Key Trends by Geography

3.      Para-aramid Fiber 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.    Para-aramid Fiber 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.      Para-aramid Fiber 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.      Para-aramid Fiber 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.      Para-aramid Fiber Market – Strategic Analysis

7.1    Value Chain Analysis

7.2   Opportunity Analysis

7.3   Product/Market Life Cycle

7.4   Distributor Analysis – Major Companies

8.      Para-aramid Fiber Market – By Product Form (Market Size -$Million/Billion)

8.1   Paper

8.2  Filament Yarn

8.3  Powder

8.4  Film

8.5  Short-Cut Fibers

8.6  Pulp

8.7  Others

9.      Para-aramid Fiber Market– By Application (Market Size -$Million/Billion)

9.1     Reinforcement

9.1.1   Composites

9.1.2  Rubbers

9.1.3   Elastomers

9.1.4   Cables

9.1.5   Others

9.2    Protective Apparels

9.2.1     Chemical Resistant Apparels

9.2.2    Flame Resistant Apparels

9.2.3    Cut Resistant Apparels

9.2.4    Others

9.3       Ballistic Protective

9.3.1     Body Armor

9.3.2    Bullet-Proof Vests

9.3.3     Vehicle Armor

9.3.4     Helmets

9.3.5    Others

9.4       Friction Linings

9.4.1     Clutch Plates

9.4.2    Brake Pads

9.4.3    Transmission Belts

9.4.4    Others

9.5       Adhesives & Sealants

9.6       Others

10.  Para-aramid Fiber Market– By End-Use Industry (Market Size -$Million/Billion)

10.1      Protection & Security

10.2     Automotive

10.2.1   Passenger Cars

10.2.2   Light Commercial Vehicles (LCV)

10.2.3   Heavy Commercial Vehicles (HCV)

10.2.4   Others

10.3       Aerospace

10.3.1     Commercial

10.3.2    Military

10.3.3    Others

10.4       Electrical & Electronics

10.4.1     Fibre Optic

10.4.2    Electromechanical Cables

10.4.3   Circuit Boards

10.4.4   Others

10.5       Marine

10.5.1    Passenger

10.5.2   Supply Vessels

10.5.3   Cargo

10.5.4   Others

10.6      Industrial

10.6.1    Mining

10.6.2   Oil & Gas

10.6.3   Power Generation

10.6.4   Chemical

10.6.5   Others

10.7      Building & Construction

10.7.1    Residential

10.7.2   Commercial

10.7.3   Others

10.8     Sports

10.8.1   Tennis Strings

10.8.2   Hockey Sticks

10.8.3   Others

10.9      Others

11.  Para-aramid Fiber Market - By Geography (Market Size -$Million/Billion)

11.1 North America

11.1.1   U.S

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   Netherland

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 Zeeland

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

11.5.1.1    Saudi Arabia

11.5.1.2    U.A.E

11.5.1.3    Israel

11.5.1.4     Rest of the Middle East

11.5.2      Africa

11.5.2.1     South Africa

11.5.2.2     Nigeria

11.5.2.3     Rest of Africa

12.  Para-aramid Fiber Market – Entropy

12.1       New Product Launches

12.2      M&As, Collaborations, JVs and Partnerships

13.  Para-aramid Fiber Market – Market Share Analysis Premium

13.1      Market Share at Global Level - Major companies

13.2     Market Share by Key Region - Major companies

13.3     Market Share by Key Country - Major companies

13.4     Market Share by Key Application - Major companies

13.5     Market Share by Key Product Type/Product category - Major companies

14.  Para-aramid Fiber Market – Key Company List by Country Premium 

15.  Para-aramid Fiber 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 and more


"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

LIST OF FIGURES

1.US Para-aramid Fibers Market Revenue, 2019-2024 ($M)
2.Canada Para-aramid Fibers Market Revenue, 2019-2024 ($M)
3.Mexico Para-aramid Fibers Market Revenue, 2019-2024 ($M)
4.Brazil Para-aramid Fibers Market Revenue, 2019-2024 ($M)
5.Argentina Para-aramid Fibers Market Revenue, 2019-2024 ($M)
6.Peru Para-aramid Fibers Market Revenue, 2019-2024 ($M)
7.Colombia Para-aramid Fibers Market Revenue, 2019-2024 ($M)
8.Chile Para-aramid Fibers Market Revenue, 2019-2024 ($M)
9.Rest of South America Para-aramid Fibers Market Revenue, 2019-2024 ($M)
10.UK Para-aramid Fibers Market Revenue, 2019-2024 ($M)
11.Germany Para-aramid Fibers Market Revenue, 2019-2024 ($M)
12.France Para-aramid Fibers Market Revenue, 2019-2024 ($M)
13.Italy Para-aramid Fibers Market Revenue, 2019-2024 ($M)
14.Spain Para-aramid Fibers Market Revenue, 2019-2024 ($M)
15.Rest of Europe Para-aramid Fibers Market Revenue, 2019-2024 ($M)
16.China Para-aramid Fibers Market Revenue, 2019-2024 ($M)
17.India Para-aramid Fibers Market Revenue, 2019-2024 ($M)
18.Japan Para-aramid Fibers Market Revenue, 2019-2024 ($M)
19.South Korea Para-aramid Fibers Market Revenue, 2019-2024 ($M)
20.South Africa Para-aramid Fibers Market Revenue, 2019-2024 ($M)
21.North America Para-aramid Fibers By Application
22.South America Para-aramid Fibers By Application
23.Europe Para-aramid Fibers By Application
24.APAC Para-aramid Fibers By Application
25.MENA Para-aramid Fibers By Application
26.Teijin Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Yantai Tayho Advanced Materials Co. Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.E. I. du Pont de Nemours and Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Hyosung Corp., Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Toray Chemicals , Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Kermel S.A., Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Kolon Industries, Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Huvis Corp., Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.National Bluestar Co., Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.SRO Aramid Co., Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)