Aramid Fiber Market to Reach USD 7,488 Million by 2030 Driven By Its Properties to Replace Asbestos and Steel Exclusive Report by Acumen Research and Consulting

BEIJING, July 14, 2022 (GLOBE NEWSWIRE) -- The Global Aramid Fiber Market size accounted for USD 3,748 Million in 2021 and is expected to reach USD 7,488 Million by 2030 growing at a CAGR of 8.2% during the forecast period from 2022 to 2030.

Aramid fiber is a synthetic organic polymer produced by twisting a liquid crystalline realistic alternative of long-chain polymer materials in concentrated h2so4. Intermolecular hydrogen bonds connect the molecules of this fiber, giving it incredible stability and durability to heat, abrasion, and organic solvents, as well as a high melting point. It is primarily used for insulation, the production of safety equipment for fire crews, racing drivers, and military personnel, and the production of thermal applications in aerospace and automotive equipment. In the construction industry, aramid fiber is used to make fiber-reinforced cementations and highly corrosive thermoplastic pipes, which extend the life of the piping system and reduce maintenance costs.

Aramid fiber is a heat-resistant and extremely hard synthetic fiber. They are made up of molecular chains that are aligned in the direction of the fiber, resulting in a much greater covalent bond than is normally obtained. Its high fatigue resistance is used in a variety of applications, including the reinforcement of composite materials used in military protective gear, sports equipment, and airplanes. Aramid fiber is an aromatic polymeric material that has a much higher modulus of elasticity than traditional polyamide fiber.

The impressive strength of aramid fiber, which is as strong as steel or any other metal, is set to make it a critical material in a multitude of applications, including but not limited to the automobile, weapons, aviation, and marine industries. Increasing demand for lighter, tougher, and longer-lasting ropes and wires to lift heavier payloads and reach greater depths is expected to drive the aramid fiber market throughout the forecast period. The high-performance properties of aramid fibers, such as high tensile strength and small and light size will increase their demand in the leisure, offshore, and mining industries.

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Report Coverage:

Global Aramid Fiber Market Growth Aspects

The rapidly increasing popularity of lightweight, high heat resistance materials in safety and defense applications has had a significant effect on the development of the aramid fiber market. In line with this, the growing demand for lighter materials that provide significant reductions in vehicle emissions is acting as a critical indicator favoring the growth of the aramid fiber market in the coming years. Furthermore, the potential replacement for steel and asbestos, as well as increased asymmetric warfare, are driving the growth of the aramid fiber market. The primary driver of market growth is the increasing demand for aerospace and automobile industries. Aside from that, the growing demand for the product from various sectors such as oil and gas production, healthcare, and others as a result of stringent government regulations associated with workplace safety is propelling the aramid fiber market forward.

However, high research and development costs, as well as the non-biodegradable manner of aramid fibers, may serve as key constraints on the aramid fiber market growth rate in the projected timeline of 2022 to 2030, whereas high production costs may strengthen aramid fiber market growth. Furthermore, rising demand for national security and increased military spending, as well as a continued focus on improving aramid materials production technologies, will provide a wide range of growth opportunities for the aramid fiber market during the forecast period.

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Aramid Fiber Market Regional Overview        

North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global aramid fiber market. The Asia-Pacific regional market is expected to grow at the fastest rate during the forecast period. It is expected to expand as a result of the increased use of security and protection measures across a wide range of industries. Rapid urbanization and industrialization, internet connectivity demand from advanced economies, and strengthening and development in the telecom industry are also expected to drive product demand in APAC. Rising defense spending in major economies such as China and India as a result of rising regional tensions is likely to provide opportunities for market growth. Asia-Pacific is the fastest-growing region in the global market, owing to the region's broadening heavy industry, aviation, and armed services sectors.

Aramid Fiber Market Segmentation

The global aramid fiber market has been segmented by Acumen Research and Consulting based on product, and application. Based on the product type, the market is divided into para-aramid, and meta-aramid. Based on the application, the market is categorized into security & protection, rubber reinforcement, frictional materials, electrical insulation, optical fibers, aerospace, tire reinforcement, and others.

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Aramid Fiber Market Players

Some key players covered global in the aramid fiber industry are Teijin Ltd., Kolon Industries, Inc., DuPont De Numerous, Inc., Huvis Corp., SRO Aramid (Jiangzu) Co., Ltd., Kermel S.A, Yantai Tayho Advanced Materials Co., Hyosung Corp., Toray Chemicals South Korea, Inc., and China National Bluestar (Group) Co., Ltd.

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