Aramid Fiber Market Size, Share & Trends Analysis Report By Product (Para-aramid, Meta-aramid), By Application (Security & Protection, Frictional Materials, Rubber Reinforcement, Optical Fibers), By Region, And Segment Forecasts, 2024 - 2030

Aramid Fiber Market Size & Trends

The global aramid fiber market size was estimated at USD 4.09 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2030. Rising product demand from various industries, such as oil & gas, healthcare, and manufacturing, owing to stringent government regulations related to workplace safety is estimated to fuel market growth over the forecast period.

The growth was sluggish owing to a lack of demand from the industrial sector during the COVID-19 crisis. Government-imposed restrictions caused temporary closure across a wide range of industries, which resulted in limiting market growth.

Market Dynamics

Aramid fibers are strong synthetic and heat-resistant fibers. Owing to their advantageous properties, these fibers are widely utilized in military and aerospace applications for ballistic-grade body armor fabric. Aramid fiber neither ignites nor melts in normal levels of oxygen owing to its excellent flame & heat resistance. Aramid fibers are used as a substitute for metal wire as well as organic fiber for structural composite applications in ropes for oil rigs in offshore sites, marine and aerospace sectors, automobiles, and bulletproof vests as these possess higher mechanical properties (5% to 10%) with respect to other synthetic fibers.

Aramid fiber industry continues to develop and manufacture synthetic fibers for new technologies and as a replacement for asbestos, carcinogenic, and toxic fiber. Aramid fiber imparts strength and wear resistance to asbestos-free friction materials. It enables the selection of inert fillers based on thermal and wear characteristics with fewer concerns regarding other physical properties of the filler. As a reinforcing fiber, asbestos is strong and can withstand chemical and high-temperature attacks. Furthermore, it is relatively cheaper as compared to several other materials. However, it is a hazardous substance when used for various applications.

Aramid fibers are widely utilized in two types of applications, namely reinforcement in composites like military vehicles, sports goods, & aircraft and fabrics in clothing, such as bulletproof vests or fire protection clothes. Aramid fiber is extensively utilized in various application segments, such as protective gloves, sailcloth, flame & cut resistant clothing, snowboards, helmets, filament wound pressure vessels, body armor, optical fiber cable systems, ropes & cables, reinforcement for tires & rubber goods, tennis strings & hockey sticks, jet engine enclosures, asbestos replacement, and circuit board reinforcement.

Growth of the U.S. market is expected to be driven by an increase in the adoption of several advanced material handling equipment, such as wagon tipplers, belt conveyor systems, and bucket elevators for easy movement and handling and materials, in the cement industry. In addition, the adoption of advanced robotic systems in warehousing as per the trend of zero-labor warehousing in the U.S. is expected to benefit the market growth. Protective gear is developed, treated, and designed with the express purpose of shielding workers from risks brought on by hazardous jobs and harsh environmental circumstances.

A portion of the protective gear is made to shield employees from infections or pollution. Numerous end-use industries, including manufacturing, oil & gas, mining, healthcare & medical, building & construction, and military, among others, make extensive use of protective apparel. Increasing onshore and offshore drilling activities coupled with the growing shale oil & gas industry is expected to drive product demand in the U.S. Para-aramid fiber segment is projected to witness significant growth on account of increasing demand from application segments owing to its rigid molecular structure of para-aramid fibers.

Product Insights

Para-aramid product segment led the market and accounted for about 75.0% share of the revenue in 2023. Excellent strength-to-weight ratio coupled with high tensile strength and modulus behavior is anticipated to benefit the segment growth over the forecast period. Para-aramid exhibits properties, such as low elongation to break, good chemical resistance, good heat & flame resistance, and excellent ballistic properties, which are expected to fuel its demand. In addition, high cut resistance, and good chemical resistance are projected to promote its consumption across various applications including aerospace, security & protection, and frictional materials.

Meta-aramid fiber is manufactured using wet spinning technology, which includes spinning the fiber in a chemical solution and forming a semi-crystalline product. Meta-aramid exhibits the ability to sustain extreme tensile stress when exposed to flames and temperatures up to 400°C, which favors its adoption in high-temperature applications. Meta-aramid fiber accounted for USD 1,023.0 million in 2023 and is projected to grow at a significant rate over the forecast period. Growing product adoption in protective clothing for military personnel, electrical insulation, auto racers, and protective equipment is projected to benefit market growth.

Application Insights

Security & protection segment led the market and accounted for more than 37.3% share in 2023. Increasing usage of aramids in bullet-resistant & protective clothing, and stab-resistant products, such as helmets and protective gloves, is projected to benefit the segment growth. Aramid fiber is increasingly used in aerospace components, such as primary wing, and fuselage structures in new-generation aircraft, landing gear doors, and leading & trailing edge panels. Properties of the product including its superior strength, impact resistance, and low weight are projected to result in high product consumption.

Aramid fibers are extensively used as a replacement for asbestos for friction and sealing products. In addition, the product is also used as reinforcement in friction products, such as brake pads and clutch plates. Moreover, they are also used in high-pressure/temperature hoses, gaskets, and seals. This is anticipated to benefit market growth over the forecast period. Others segment include various applications, such as composites, filtration, ropes & cables, recreational goods, and adhesives & sealants. Low density, high strength, good impact & abrasion resistance, excellent chemical resistance, and good resistance to thermal degradation are some of the key beneficial characteristics that are encouraging the adoption of aramids.

Regional Insights

Europe led the market and accounted for over 34.6% share of global revenue in 2023. It is expected to witness growth owing to rising employment of security & protection measures across several industries. In addition, increasing demand for the internet from emerging economies, rapid industrialization, and robust growth in the telecom industry are likely to drive productdemand. Rising military expenditure in major economies, such as China and India, on account of increasing geopolitical tensions is likely to offer growth opportunities for aramid fibers. In addition, rising investments in the construction, manufacturing, and healthcare sectors are anticipated to drive product demand.

North America is anticipated to reach USD 2,240.1 million by 2030. Growing number of refurbishing activities in North America coupled with stringent regulations pertaining to the security and protection measures of workers across various industries is projected to fuel industry growth. Protection standards laid down by the American National Standards Institute (ANSI) in U.S.-related personnel protective equipment are likely to further fuel the demand for products, such as protective gloves, helmets, and protective clothing. This is projected to benefit the market expansion in North America.

Key Companies & Market Share Insights

Key players use strategies, such as joint ventures, technical collaboration, capacity expansion, mergers & acquisitions to gain a stronger market position. In addition, manufacturers are also engaged in developing cost-effective and high-quality production. Yantai Tayho Advanced Materials Co., a manufacturer of aramid fiber operating in China, invested USD 89 million in July 2018 to expand its para-aramid manufacturing facility in China. The strategic initiative adopted by the company helped strengthen its market position in China as well as across the globe.

Aramid Fiber Market Report Scope

Global Aramid Fiber Market Report Segmentation

This report forecasts volume & revenue growth at global, regional, and country levels and provides an analysis of the trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global aramid fiber market report based on product, application, and region:

• Product Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

  • Para-aramid

  • Meta-aramid

• Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030

  • Security & Protection

  • Frictional Materials

  • Rubber Reinforcement

  • Optical Fibers

  • Tire Reinforcement

  • Electrical Insulation

  • Aerospace

  • Others

• Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Russia

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

  • Central & South America

    • Brazil

  • Middle East & Africa