Portland, OR, Sept. 30, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global kevlar fiber market garnered $449.2 million in 2021, and is estimated to generate $653.4 million by 2031, manifesting a CAGR of 3.9% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $449.2 million |
| Market Size in 2031 | $653.4 million |
| CAGR | 3.9% |
| No. of Pages in Report | 200 |
| Segments covered | Application and Region |
| Drivers | Increase in use of kevlar fiber across applications, such as frictional materials, industrial filtration, optical fibers, and electrical insulation Rise in adoption of kevlar fiber in physical protection for body armour, vehicle armour, military helmets, protective gloves, and firefighter costumes |
| Opportunities | Increased demand for kevlar fiber in the aerospace and defense sector |
| Restraints | Availability of substitutes, such as twaron, technora, heracron, alkex, and teflon |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a devastating impact on the global electronic sector, causing unquantifiable losses to firms.
- The pandemic impacted the global supply chain and caused a slowdown in the electronics & telecommunication industry, which is the major end-user of kevlar fiber.
- For instance, China is the largest producer and exporter of varied electronic input supplies that are utilized to manufacture finished electronic products. The ongoing production standstill in China compelled electronic producers in Europe and the U.S. to hold the manufacturing of electronic goods temporarily.
- Further, the COVID-19 pandemic negatively impacted the aviation & aerospace industry.
- However, more people are preferring flights for travelling and are also showing a stronger preference for nonstop travel in order to avoid the risk of the coronavirus. Consequently, this is likely to surge the aircraft manufacturing and drive the kevlar fiber market.
The research provides detailed segmentation of the global kevlar fiber market based on application and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on application, the safety and protection segment accounted for the highest share in 2021, contributing to nearly two-fifths of the global kevlar fiber market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the optical fibers segment is expected to manifest the highest CAGR of 5.8% from 2022 to 2031.
Based on region, Asia-Pacific held the largest share in 2021, contributing to nearly half of the total kevlar fiber market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 4.4% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
Leading market players of the global kevlar fiber market analyzed in the research include Aramid Hpm LLC, CTech-LLC, C.S.R Inc., DuPont De Numerous Inc., Final Advance Materials, GAB Neumann Gmbh, Hyosung Advanced Materials, Hexcel Corporation, Huvis Corporation, Kolon Industries Inc., Stern EWS, Teijin Ltd., Toray Industries Inc., Yantai Tayho Advanced Materials Co. Ltd, and MiniFIBERS, Inc.
The report provides a detailed analysis of these key players of the global kevlar fiber market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
