Aramid Fiber Market Rising With Growth In New Technology Trends Research By 2027


The global aramid fiber market size is expected to reach USD 6.8 billion by 2027, expanding at a revenue-based CAGR of 8.2% during the forecast period, according to a new report by Grand View Research, Inc. Superior properties such as strength and heat-resistance of aramid fiber has promoted its utilization in production of body armor fabric.
Growing need for security and protection measures across various industries such as mining, healthcare/medical, oil and gas, building and construction, and military is projected to propel market growth. In addition, stringent regulations in developing economies related to occupational safety are likely to benefit market growth over the forecast period.
Aramids fibers are being increasingly used as an alternative to metal wire and organic fiber in structural composite applications in aerospace and marine sectors, and ropes for oil rigs in offshore locations. In addition, product benefits such as non-aggressive wear and tear on drums and discs and fade resistance is anticipated to propel its usage.
The manufacturing process involves use of a number of high cost chemicals, which elevates its production cost. In addition, huge capital investment in machinery and production process is anticipated to pose a threat to the growth of the aramid fiber market. However, the development of cost beneficial production facilities is anticipated to benefit market growth.
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https://www.grandviewresearch.com/industry-analysis/aramid-fiber-market/request/rs4
Further key findings from the report suggest:
·         Para-aramid fiber accounted for a market share of 75.6% in 2019, owing to its properties such as excellent strength-to-weight ratio coupled with superior chemical resistance
·         The security and protection application segment dominated the market in 2019 and is estimated to generate revenue of USD 2.6 billion by 2027, owing to growing concern regarding protection of personnel in military and industrial sectors
·         The market in Asia-Pacific is anticipated to exhibit a revenue-based CAGR of 9.1% from 2020 to 2027 on account of growing need for security and protection measures across military and defense and medical industry
·         The U.S. market is projected to witness strong growth over the forecast period and reach a market value of USD 1.4 billion in 2027 on account of increasing demand for personal protective equipment
·         China was the largest market in Asia Pacific in 2018 on account of the expansion of automotive industries and increasing demand for personal protective equipment.
Increasing use of aramid fiber for composites’ reinforcement in military vehicles, sports goods, and aircrafts is expected to benefit market growth. Ascending demand for protective equipment such as safety goggles, protective footwear, and hand protection is anticipated to propel product demand, thereby driving the market.
Why has demand for aramid fiber increased for the purpose of video surveillance?
There has been an increased focus on surveillance across the globe, with security becoming the number one priority for Governments. China, United States and Germany have the largest number of surveillance cameras across the globe, China leading the way with 200 million security cameras, with the United States coming in behind China at 50 million security cameras. All this points to the fact that surveillance has gained much more significance in this age, which has increased the demand for optical fiber networks, thus leading to high demand for aramid fibers.
The para-aramid product segment dominated the aramid fiber market in 2019 and is projected to exhibit a revenue-based CAGR of 8.1% from 2020 to 2027. The excellent strength-to-weight ratio coupled with high tensile strength and modulus behavior is anticipated to benefit segment growth over the forecast period.
The product exhibits properties such as low elongation to break, good chemical resistance, good heat and flame resistance, and excellent ballistic properties. This, in turn, is expected to fuel its demand over the forecast period. In addition, high cut resistance and good chemical resistance is projected to promote its consumption across various applications including aerospace, security and protection, and frictional materials.
What is Kevlar, and how is it used in the aramid fiber market?
Kevlar is a para-aramid fiber, which was developed at Dupont by Stephanie Kwolek in 1965, and is used in applications such as bicycle tires and bulletproof vests, owing to its high tensile strength-to-weight ratio. It is five times stronger than steel. It has found application in a number of diverse areas such as personal protection and body armor, to musical and sports equipment. Another similar para-aramid fiber, called Twaron, was developed by Akzo in the 1970s, with its manufacturing now being handled by Teijin.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-aramid-fiber-market
Aramid fibers can be broadly divided into two types: para-aramid and meta-aramid. There are some key differences between these two types, with meta-aramids being temperature, chemical degradation and abrasion resistant, making them perfect for use in protective gears, electrical insulation and heat shields in vehicles. Para-aramids, on the other hand, are extremely tough and strong, thus making them suitable for hose reinforcement, cables and ballistics protection.
Security and protection segment is the major application segment, with high consumption of products made out of this fiber such as bullet-proof jackets and stab-resistant helmets. There has been a continued growth in the defense expenditure of various countries on account of war-like situation and turmoil around the globe. This has provided a fillip to the manufacturers of protective equipment, which in turn has led to an increased use for aramid fibers. Another area of application is in the manufacture of fiber optic cables, owing to their desirable properties such as flexibility, low weight and di-electricity, among others.
Which are the major companies manufacturing aramid fibers?
The major market players include DowDuPont, Teijin Ltd., Hyosung Corp., Yantai Tayho Advanced Material Co., Kermel, SRO Aramid and Taekwang Industrial Co., Ltd. These competitors are investing in further research to discover low-cost production techniques, while manufacturing optimum quality products. The methods adopted include RTM, RTM light, press molding, vacuum bagging, filament winding, pultrusion and hand lay-up, among others.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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