Aramid Fiber Market (2020 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Aramid Fiber market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
“Aramid Fiber Market report is anticipated to register a CAGR of XX% over a five years forecast period (2020 – 2023).”
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List of Major Key players operating in the Global Aramid Fiber Market are –
- 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 Global Aramid Fiber market is estimated at 2.66 billion in 2020 and is expected to grow significantly during the forecast period, 2020-2023.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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Scope of the Report:
The report analyses Aramid Fiber market, which includes –
- Analysis of the growth of Aramid Fiber market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides Aramid Fiber market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level Aramid Fiber market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Aramid Fiber market are discussed.
- The report provides competitive landscape at country level for the year 2020. It also covers key policies and initiatives, key deals, and key upcoming projects.
Highlighted points of Aramid Fiber Market Report:
- Varying dynamics of the Aramid Fiber industry.
- Prospective changes in sales volumes and worldwide share growth in upcoming years (2020-2023).
- Aramid Fiber market report recognizes the key drivers of growth and challenges of the key industry players.
- Competitors profiles along with product description, overview, and business data.
- A complete analysis of market risks, opportunities, limitations, and growth of the market.
- Market driving and restraining factors.
- Delivers information on the historical and current market size and the future potential of the market.
- Aramid Fiber market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.
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Reasons to Purchase Aramid Fiber Market Report:
- The report analyses how stringent emission control norms will drive the global Aramid Fiber market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Aramid Fiber market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
In this study, the years considered to estimate the market size of Aramid Fiber:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2020
Forecast Year 2020 to 2023
Look into Table of Content of Aramid Fiber Market Report @ https://www.360marketupdates.com/TOC/12885253#TOC
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