Dublin, March 24, 2021 (GLOBE NEWSWIRE) -- The "Aramid Fiber Market by Fiber Type, by Application Type, by Form Type, by End-Use Industry, and by Region, Size, Share, Trend, Forecast, & Competitive Analysis: 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The market is likely to experience a brisk recuperation from 2021 onwards, translating to a cumulative sale of US$ 22.4 Billion during 2021-2026.
Despite a few bumps along the road for the governing industries (aerospace & defense and automotive), the demand for aramid fiber remained stable till 2019, impelling market stakeholders to prepare for skyrocketing demand in the years to come. But the COVID-19 crisis crashed all possibilities of a flourishing market in 2020. The two leading industries suffered the gravest impact of the pandemic, completely overturning the market conditions, with an overall acute decline of -13.4%, YoY in 2020.
However, the unremitting demand from the relatively unaffected defense and electrical & telecommunications industries is likely to be the redeeming grace for the aramid fiber market, indemnifying a portion of the losses incurred. Also, incessant investments towards the establishment of 4G and 5G networks are likely to support the aramid fiber demand in the long run.
The aramid fiber market is extremely concentrated with the top four players capturing the lion's share of the market. The major companies focus on capacity expansions, collaborations, and partnerships to maintain their vanguards in the market and to pounce at any prevalent opportunities in the market.
A few of the key collaborations/partnerships in the market are Teijin and Nippon Paper Papylia to expand Nomex paper capacity with a new facility in Japan which is expected to be established by 2021. Another significant movement in the market was the Dow and DuPont merger in 2017, valued at US$ 130 Billion, this was one of the biggest mergers in the industry, creating the world's biggest chemical company, only to de-merge later in 2019.
Aramid Fiber Market by Application Type
Based on the application type, we have segmented the market as protection & safety, electrical transmission & insulation, tire reinforcement, rubber reinforcement, friction materials, filtration, paper, and others. Electrical transmission & insulation and protection & safety are expected to be the largest demand-generating applications during the forecast period. These two segments are also likely to endure a relatively lower impact of the pandemic in 2020. Zealous efforts towards the development and implementation of next-gen 4G and 5G communications is likely to fuel the long-term demand.
Para-Aramid Fiber Market by Form Type
Based on the form type, we have segmented the market as filament, pulp, staple fiber, and others. The filament is likely to maintain its dominance in the market till 2026, owing to its numerous advantages such as excellent strength-to-weight ratio, heat, flame, and chemical-resistance, high dimensional stability, ability to modify as per application, and availability in various colors. Staple fiber is also likely to offer attractive opportunities during the forecast period with key applications in hot gas filtration fabrics, sewing threads, zipper tapes, firefighters turnout facing fabrics, aircraft carpeting, cut-protection products such as gloves.
Regional Insights
In terms of regions, North America and Europe are likely to hold a massive chunk of the market in 2020 as well as in the foreseen future. The leading aerospace & defense and automotive industries are likely to hugely influence the regions' demand in the long term. Despite taking a steep plunge in 2020, the USA takes the throne in North American as well as the global markets. Post suffering the least downturn in 2020, Asia-Pacific to act as a catalyst for the market, rapidly and efficiently recovering from the pandemic's aftermath. China and India are expected to remain the thrust-bearers of the market in the long-term.
Key Players
The supply chain of this market comprises raw material suppliers, aramid fiber suppliers, part manufacturers, OEMs, and MRO companies.
The key players have always had a keen interest in capacity expansions and collaboration, which have now been halted as an indispensable move towards cash preservation and short-term strategizing. However, with the gradually healing aerospace & defense, automotive, and electrical transmission & insulation industries, the market stakeholders' activity is expected to pick up pace in the long-term. The aramid fiber market is segmented into the following categories.
Several other key factors propelling the growth of the market, in the long run, are:
- Increasing wireless infrastructure revenue
- Surging tire replacement demand coupled with an expected recovery in automotive production
- Expected rebound in commercial and regional aircraft deliveries
- Growing military expenditure
- Increasing mining production
- The fibers' upper hand among their arch-rivals such as steel and carbon fibers
Key Topics Covered:
1. Executive Summary
2. Aramid Fiber Market Overview and Segmentation
2.1. Introduction
2.2. Aramid Fiber Market Segmentation
2.3. Supply Chain Analysis
2.4. Industry Life Cycle Analysis
2.5. PEST Analysis
2.6. SWOT Analysis
3. Aramid Fiber Market COVID-19 Impact Assessment
3.1. Insights
3.2. Aramid Fiber Market Trend and Forecast (US$ Million and Kilotons)
3.3. Profitability Analysis
3.4. Pre-COVID vs Post-COVID Assessment
3.5. The Pandemic: Real GDP Loss vs Aramid Fiber Market Loss (2020-2021)
3.6. Aramid Fiber Market Scenario Analysis: Pessimistic, Most Likely, and Optimistic
3.7. Market Segments Analysis (US$ Million and Kilotons)
3.8. Regional and Country-Level Analysis (US$ Million and Kilotons)
3.9. Market Drivers
3.10. Market Challenges
3.11. Expert Opinion
4. Competitive Analysis
4.1. Insights
4.2. Product Portfolio Analysis
4.2.1. By Fiber Type
4.2.2. By End-Use Industry
4.3. Geographical Presence
4.4. New Product Launches
4.5. Strategic Alliances
4.6. Market Share Analysis
4.7. Porter's Five Forces Analysis
5. Aramid Fiber Market Trend and Forecast by Fiber Type (2015-2026)
5.1. Insights
5.2. Para-Aramid Fiber: Regional Trend and Forecast (US$ Million and Kilotons)
5.3. Meta-Aramid Fiber: Regional Trend and Forecast (US$ Million and Kilotons)
6. Aramid Fiber Market Trend and Forecast by Application Type (2015-2026)
6.1. Insights
6.2. Protection & Safety: Trend and Forecast (US$ Million and Kilotons)
6.3. Electrical Transmission & Insulation: Trend and Forecast (US$ Million and Kilotons)
6.4. Tire Reinforcement: Trend and Forecast (US$ Million and Kilotons)
6.5. Rubber Reinforcement: Trend and Forecast (US$ Million and Kilotons)
6.6. Friction Materials: Trend and Forecast (US$ Million and Kilotons)
6.7. Filtration: Regional Trend and Forecast (US$ Million and Kilotons)
6.8. Paper: Regional Trend and Forecast (US$ Million and Kilotons)
6.9. Others: Regional Trend and Forecast (US$ Million and Kilotons)
7. Aramid Fiber Market Trend and Forecast by Form Type (2015-2026)
7.1. Insights
7.2. Filament: Regional Trend and Forecast (US$ Million and Kilotons)
7.3. Pulp: Regional Trend and Forecast (US$ Million and Kilotons)
7.4. Staple Fiber: Regional Trend and Forecast (US$ Million and Kilotons)
7.5. Others: Regional Trend and Forecast (US$ Million and Kilotons)
8. Aramid Fiber Market Trend and Forecast by End-Use Industry (2015-2026)
8.1. Insights
8.2. Aerospace & Defense: Regional Trend and Forecast (US$ Million and Kilotons)
8.3. Automotive: Regional Trend and Forecast (US$ Million and Kilotons)
8.4. Electrical: Regional Trend and Forecast (US$ Million and Kilotons)
8.5. Electronics & Telecommunications: Regional Trend and Forecast (US$ Million and Kilotons)
8.6. Others: Regional Trend and Forecast (US$ Million and Kilotons)
9. Aramid Fiber Market Trend and Forecast by Region (2015-2026)
9.1. Insights
10. Strategic Growth Opportunities
10.1. Insights
10.2. Market Attractiveness Analysis
10.3. Emerging Trends
10.4. Growth Matrix Analysis
10.5. Key Success Factors (KSFs)
11. Company Profile of Key Players
- China National Bluestar (Group) Co., Ltd.
- DuPont de Nemours, Inc.
- Huvis Corporation
- Hyosung Corporation
- Kermel
- Kolon Industries, Inc.
- SRO Aramid (Jiangsu) Co. Ltd.
- Teijin Limited
- Toray Industries, Inc.
- Yantai Tayho Advanced Materials Co.
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