Aramid Fiber Market 2020-2024 Covid 19 Impact on Top countries data, Industry Research Update, Future Scope, Size Estimation, Revenue, Pricing Trends, Growth Opportunity, Regional Outlook and Forecast
Posted on Oct 26 2020 5:09 AM
"COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The Aramid Fiber Market is expected to register a CAGR of Growing rate%, during 2020-2024. "
Global “Aramid Fiber Market” Report 2020 - 2024 Provides Complete company profiles covering the product offerings, key financial information, current developments, SWOT analysis and strategies employed by the major Aramid Fiber market players. Also Provides Industry position and viewpoint of main regions based on major key players, country, product types, and end industries Aramid Fiber Market reports offer a detailed assessment of the Aramid Fiber including enabling technologies, current market situation, market assumptions, restraining factors.
Aramid Fiber Market Report Segmented by Regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa, Rest of World (ROW). This XYZ market research report focuses on the Key Manufacturers Profiles in Detail with Granular Analysis of the Market Share, Production Technology, Market Entry Strategies, Revenue Forecasts and Regional Analysis of the Market.
The Global Aramid Fiber market is estimated at 2.66 billion in 2018 and is expected to grow significantly during the forecast period, 2018-2023.This growth is estimated due to its various uses in the field of automotive, aerospace and defense, fiber optic cables, marine, and others. One of the major growth for this market is increasing demand from countries, like China, United States, Russia, and India.
Increasing Investment in Defense Sector
The latest trend for Aramid Fiber is gaining momentum due to its high application in defense industry. The increase in investment by economies, like China, Japan, Saudi Arabia, France, US, Russia is expected to grow and increase their defense and aerospace budget owing to the resurgence of global security threats. Most of the governments around the world have already started to increase their defense budget to address the security threats. Also, it has ballistic protective applications, such as bulletproof vests, Protective gloves, motorcycle protective clothing, and hunting gaitors. It’s also used for manufacturing of fiber and electromechanical cables. Due to its high resistance to chemical and thermal degradation, it’s highly used in Automotive & Aerospace industries. Therefore, as demand from emerging economies will grow, market for aramid fiber will also increase.
High cost of production & investment in R&D is a major reason for its high price. Another factor restraining the growth of the market is the availability of low-cost substitutes, like glass fibers and carbon fibers. This has been acting as a hindrance to the growth of the aramid fiber market.
Industrial Applications around the Globe
On industrial ground Aramid Fibers are basically of two types, Para and Meta Aramid Fibers. Para-aramids provide unique combinations of toughness, extra high tenacity, modulus of elasticity, and exceptional thermal stability. Therefore, the end-uses of para-aramids cover a broad range of industrial, aerospace, military and civilian applications, which include ballistic apparel, hard armors, brake and transmission friction parts etc. Additionally, with a growing demand from industrial protective clothing, defense, protection, and safety sectors, the APAC region is the fastest growing area for the para-aramid fibers market.
However, because of excellent durable and heat resistance nature, meta-aramid fiber is expected to have high growth rate owing to the increased usage in making the suits of firefighters, military pilots, race car drivers, and firefighters face mask. Hence, market for aramid fiber will increase globally.
Growing Opportunities in United States of America
The United States is the world’s largest economy in the world, with a per capita income of USD 55,900 and advanced technologies. The aerospace industry is shifting more of its manufacturing investments to the United States after a decade. Therefore, this will increase the consumption of aramid fibers. The automotive production in the United States of America is expected to grow rapidly due to the growing population and rising income of the people. This growth in the automotive industry is expected to propel the demand for the aramid fibers during the forecast period. U.S. Electronic industry has many segments in manufacturing, hence there is a high demand for the newer and faster products, due to the rapid pace of innovation, technological advancements and R&D activities in the electronics industry too. This growing demand in US is expected to boost the demand for the aramid fibers in global market also.
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Here is the Top-List of Key-players of Aramid Fiber Market 2020:-
- Kolon Industries
- Teijin Limited
- Honeywell International Inc.
- Hyosung Corporation
- Toray Industries Inc
- Sro Aramid(Jiangsu) Co.
- Yantai Tayho Advanced Materials Co.
- Huvis Corporation
- Ibiden Co. ltd.
- China National Bluestar.
The report focuses on the global market, especially in the United States, Europe, China, Japan, South Korea, North America, and India.
Also, the Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions.
The Global Aramid Fiber market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
The global Aramid Fiber market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.
Highlighted points of Aramid Fiber Market Size:
- Covers the varying market dynamics of the industry.
- In-depth analysis of market risks, opportunities, limitations, and growth of the market.
- Includes market driving and restraining factors.
- Participants profiles along with product description, overview, and business data.
- Include details of five years of forecast analysis by types, regions, and applications.
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Key Developments in the Aramid Fiber Market:
- Major developments in 2017 covered in the report
- And the latest major developments in 2018 covered in the report
Reasons to Purchase this ReportTo understand the impact of end-user applications on the marketAnalyzing various perspectives of the market with the help of Porter’s five forces analysisCountries expected to witness the fastest growth during the forecast periodIdentifying the latest developments, market shares, and strategies employed by the major market players3-month analyst support, along with the Market Estimate sheet (in excel)
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Finally, the report Global Aramid Fiber Market 2020 describes the Aramid Fiber industry expansion game plan, the Aramid Fiber industry knowledge supply, appendix, analysis findings, and the conclusion.
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