Aramid Fiber Market Ravishing Growth With Major Industry Factors And Key Players Till 2027

Posted on Jun 23 2022 5:48 AM

""Top companies covered are in the aramid fiber market DuPont (U.S.), Teijin Limited, Kolon Industries Inc., Yantai Tayho Advanced Materials Co., Ltd., X-FIPER New Material Co., Ltd., HUVIS CORPORATION, Hyosung Corporation, China National Bluestar (Group) Co, Ltd., Toyobo Co., Ltd., Aramid Hpm, LLC., and more players profiled " "

The global aramid fiber market size is projected to reach USD 7,243.3 million by the end of 2027. The presence of several large-scale companies will contribute to the growth of the market in the coming years. According to a report published by Fortune Business Insights, the market was worth USD 4,522.6 million in 2019 and will exhibit a CAGR of 6.5% during the forecast period, 2020-2027.

Aramid fibers are widely used across diverse industry applications, mainly due to their exceptional physical properties. The product is characterized by mechanical strength and excellent resistance to external factors including pressure and humidity. As this is a manmade fiber, availability is not an issue. The increasing demand for the product has led to the presence of several large scale manufacturing units across the world. The presence of several large scale manufacturers will have a direct impact on the growth of the overall market in the forthcoming years. Besides this, properties such as low flammability and good fabric integrity will contribute to the growing adoption of these fibers across diverse industry verticals in several countries.

 

Russia-Ukraine War Implication

The Russia-Ukraine war could change the market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.

The long-term implications of the Ukraine-Russia crisis will, in our view, lead to very different chemicals business models as supply chains de-globalise and as manufacturing is brought back home.

 

Increasing Number of Product Innovations will Emerge in Favor of Market Growth

The report encompasses several factors that have contributed to the growth of the overall market in recent years.  Accounting to the increasing demand for the product, there is healthy market competition across the world. Among all factors, the increasing number of product innovations has had the highest impact on the growth of the overall aramid fiber market in recent years. In September 2018, Snow Peak announced the launch of a new product through the integration of aramid fiber. The company introduced a new material fabric that is directed for use in outdoor apparel. The applications of aramid fiber are not limited to a single domain and this has been a major contributor to market growth.  The increasing number of such product innovations will have a huge impact on the growth of the overall market in the forthcoming years.

 

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List of the Leading Companies Profiled in the Global Aramid Fiber Market are:

  • DuPont (U.S.)
  • Teijin Limited
  • Kolon Industries Inc.
  • Yantai Tayho Advanced Materials Co., Ltd.
  • X-FIPER New Material Co., Ltd.
  • HUVIS CORPORATION
  • Hyosung Corporation
  • China National Bluestar (Group) Co, Ltd.
  • Toyobo Co., Ltd.
  • Aramid Hpm, LLC.

 

Europe to Emerge Dominant; Increasing Applications in Automotive Industry will Aid Growth

The report analyzes the ongoing market trends across North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. Among all regions, the market in Europe is projected to emerge dominant in the coming years. The increasing applications of the product across diverse industry verticals by large scale companies based in this region will emerge in favor of market growth. The increasing demand for efficient fuel sources has given the platform for companies operating in this region. As of 2019, the market in Europe was worth USD 1615.7 million and this value is projected to rise at a considerable pace in the coming years. The market in Asia Pacific is projected to rise at the highest CAGR during the forecast period driven by the initiatives taken by government organizations for industrial safety in countries such as India and China.

 

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Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Trends – For Major Countries
    • Key Developments
    • Regulatory Scenario
    • PORTER’s Five Forces Analysis
    • Global Production Overview
  • COVID-19 Impact Analysis
    • Supply Chain Challenges
    • Steps Taken by Government/Companies to combat COVID-19
    • Potential Opportunities due to COVID-19 Outbreak
  • Global Aramid Fiber Market Analysis, Insights and Forecast, 2016-2027, By Product Type
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast
      • Para 
      • Meta
      • Others

TOC Continued…!

 

Industry Development:

November 2019: Teijin Aramid B.V., announced that it will be increasing its production capacity by 25%.

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