Aramid Fiber Market Size, Share & Trends Report

Aramid Fiber Market Size, Share & Trends Analysis Report By Product (Para-aramid, Meta-aramid), By End-use (Security & Protection, Aerospace, Electrical Insulation), By Region, And Segment Forecasts, 2018 - 2024

  • Published Date: Jul, 2018
  • Base Year for Estimate: 2015
  • Report ID: 978-1-68038-883-1
  • Format: Electronic (PDF)
  • Historical Data: 2013 - 2015
  • Number of Pages: 80

Industry Insights

The global aramid fiber market size was estimated at USD 2.8 billion in 2015. The global market is anticipated to expand at a CAGR of 9.7% during the forecast period. Technological advancements in transportation is expected to propel the aramid fiber market growth in the coming years. Moreover, rising demand from various end-use industries such as automotive, construction, electronics, defense and aerospace, and marine is also boosting the market development.

Robust growth in the automotive industry will increase the product demand over the next few years. In addition, rising demand for advanced mechanized aramid fibers will also drive the market over the coming years.

U.S. aramid fiber market

The aramid fibers are suitable for numerous applications such as aerospace, protective clothing against chemicals/heat/radiation, ballistics, telecommunications, composites, asbestos substitute, and many other.

The product is manufactured and sold by various companies under different brand names. Kolon industries in South Korea produces aramid fibers it under the brand name of ‘Technora’ and ‘Technora’. DuPont in U.S. manufactures it under the name, ‘Nomex’ and ‘Kevlar’. Teijin in Japan manufactures it by the name, ‘Heracron’.

The initial investment for manufacturing aramid fiber-based products is reasonably high. Proper machinery and equipment are required in order to carry out the right reaction to manufacture it. Moreover, high labor cost is associated with the process. However, manufacturing aramid fiber products is comparatively easy for well-established companies with both production and research facilities.

End-use Insights

The security and protection segment dominated the global aramid fiber market in 2015 and is expected to observe a promising growth in the future. Aramid fiber-based products are used widely in aerospace and defense and security sectors. It is rapidly replacing asbestos and steel due to its superior properties. Aramid fiber helmets are widely adopted by various countries and their militaries.

These fibers are expected to play an important role in future military systems. Product application in vests, helmets, and other protective accessories enables great mobility along with higher safety to the soldiers. The military ground vehicles in the future will have to weigh between 10 tons to 20 tons with excellent mobility, high durability, and survivability for numerous missions. Thus, aramid fibers find extensive usage in the defines sector, which, in turn, will drive the market.

Product Insights

Para aramid dominated the global market in 2015.Para-aramids are used in various end-use applications such as reinforced materials, protective materials, composite materials, friction and sealing materials, and sports equipment. Increasing product usage in the manufacturing of protective clothing such as suits, shields, and helmets in the defense sector is expected to enhance the market growth. One of the most popular para-aramid product is Kevlar offered by E.I. DuPont Nemours and Company.

Global aramid fiber market

Meta-aramid is anticipated to witness the fastest CAGR of 10.9% over the analysis period. Meta-aramids are extremely resistant to chemical degradation, temperature, and abrasion. The product is typically produced by wet spinning. The result is a semi-crystalline fiber with its molecular chain partially oriented along its axis.

Region Insights

North America led the global market in 2015 and held 27.9% of the overall volume. Huge aerospace and defense and protection sector in developed countries of North America such as U.S. and Canada is a major contributing factor toward the region’s growth.

Rising income levels and living standards in various emerging countries of Asia Pacific, particularly in India and Japan, have resulted in the increased demand for automobiles. This, in turn, has resulted in the growth of automotive industry. Thus, all these factors are driving the market in this region.

Increased government expenditure in these countries for infrastructure development is also contributing toward its growth. The product is widely used in the construction sector in the form of composites. Thus, rapidly expanding construction sector in the region will drive the demand further.

Aramid Fiber Market Share Insights

Some of the companies in the market procure raw materials from the suppliers and undertake the actual manufacturing process. Major manufacturing companies include E. I. du Pont de Nemours and Company, Teijin Ltd., and Kolon Industries are engaged in the production and supply of raw materials. A considerable number of companies conduct extensive R&D activities to develop advanced manufacturing processes to launch new materials in the market.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2013 - 2015

Forecast period

2016 - 2024

Market representation

Volume in Kilo Tons, Revenue in USD Million & CAGR from 2016 to 2024

Regional scope

North America, Europe, Asia Pacific, Latin America, MEA

Country Scope     

U.S., Canada, Mexico, Germany, France, Italy, U.K., China, India, Japan, South Korea, Brazil

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the global aramid fiber market report on the basis of product, end use, and region:

  • Product Outlook (Volume Kilo Tons; Revenue, USD Million, 2013 - 2024)

    • Para-aramid

    • Meta-aramid

    • Others

  • End-Use Outlook (Volume Kilo Tons; Revenue, USD Million, 2013 - 2024)

    • Optical Fiber

    • Rubber Reinforcement

    • Frictional Materials

    • Aerospace

    • Security and Protection

    • Tire Reinforcement

    • Electrical Insulation

    • Others

  • Regional Outlook (Volume Kilo Tons; Revenue, USD Million, 2013 - 2024)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • Italy

      • U.K.

    • Asia Pacific

      • China

      • Japan

      • India

      • South Korea

    • Central & South America

      • Brazil

    • MEA

Key questions answered by the report
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