Aramid Fibre Market Growth Analysis By Manufacturers, Regions, Types And Application Forecast 2015 – 2021
The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry.
Request For Report Sample@https://www.persistencemarketresearch.com/samples/8029
The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
The utilization of aramid fibre is gaining significant traction in field of fibre for composites and high-performance technical textiles used across various industries such as aerospace and automobile. An aramid fibre is man-made organic fibre produced by spinning a solid fibre from a liquid chemical blend. When compared to the other synthetic fibre aramids have 5-10% higher mechanical properties such as tensile modulus and strength. These properties are replacing metal wires and inorganic fibre for high performance application like ropes for offshore oil rigs and bullet proof vests. Various type of aramid are available in global market place which can be grouped into para-aramid, meta-aramid and other tailor-made solutions to meet the nice demand of end-users from various industry. Para-aramid lack in fatigue strength and have poor compression strength but possess high tensile strength, low breakage elongation and good resistance to chemicals which makes it suitable for strong composite structural parts. On the other hand, meta-aramid possess good thermal resistance properties which can be used for various applications such as gaskets and jet engine enclosures.
Request For Report Table of Content (TOC)@https://www.persistencemarketresearch.com/toc/8029
The global aramid fibre market is increasing rapidly due to its increasing usage across various industries such as automobile and apparels. Some of the major factor identified are increasing demand for aramid fibres for optical fibre reinforcement and security & protection application. Also, macroeconomic factors such as growing GDP, rising income level are fuelling the growth of the global aramid fibre market. However high cost of material and competition from substitute product can pose a major challenge towards the growth of the global aramid fibre market to some extent.
Global aramid fibre market is segmented on the basis of geography, product type and by end-use application. Product type segment of the global aramid fibre market includes;
- Para-aramid
- Meta-aramid
- Others (Nylon, Vectran, etc.)
On the other hand end-use application segment is further segmented into following categories;
- Security and Protection
- Optical Fibres
- Tire Reinforcement
- Electrical Insulation
- Rubber Reinforcement
- Ropes & Cables
- Composites
- Other Applications
The global aramid fibre market is expected to grow at significant rate over the forecast period from 2015 to 2025. Emerging economies such as India and China are forecast to surge the demand for aramid fibre market due to increasing manufacturing of various products such as automotive components and sports wears. Among the product type segment, para-aramid segment dominated the global aramid fibre market in 2014, and is projected to expand at highest CAGR over the forecast period. Growing communication infrastructure is anticipated to fuel the optical fibres end-use segment at higher rate when compare to other remaining end-use application.
The global aramid fibre market is geographically segmented into seven key regions which are, North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan and Middle East & Africa. As of 2014, Asia Pacific dominated the global aramid fibre market followed by North America and Europe. On the other hand BRIC countries are expected to grow at higher CAGR when compared to other countries in their respective regions.
Pre-Book Right Now for Exclusive Analyst Support @ https://www.persistencemarketresearch.com/checkout/8029
Some of the key players identified in global aramid fibre market are
- E.I Dupont de Nemours,
- Yantai Tayho Advanced Materials Co. Ltd.,
- Teijin Limited,
- Hyosung Corporation,
- Kolon Industries (Republic of Korea),
- Toray Chemical Korea Inc.