Dublin, March 06, 2023 (GLOBE NEWSWIRE) -- The "Meta-aramid Fiber Market by Type (Staple, Filament, Paper), Application (Nonwoven Bagfilter, Apparel, Turbohose, Electric Insulation, Honeycomb Reinforcement), and Region (Asia Pacific, Europe, North America, MEA, South America) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The meta-aramid fiber market is projected to reach USD 2.3 Billion by 2027, at a CAGR of 10.6% from USD 1.4 Billion in 2022.
The major drivers of this market are the rising demand from the homeland security coupled with the increasing demand for meta-aramid fibers in electrical insulation applications drive the market. Increasing demand for homeland security and advancement in aramid materials manufacturing processes, are the significant growth opportunities for the market. However, its high cost of production and available alternatives restrict the market's growth.
Staple is estimated to be the largest type in the meta-aramid fiber market in 2021, in terms of value
The staple segment dominated the meta-aramid fiber market in terms of both value and volume. Growth in the market size of staple fiber is attributed to the increased demand for protective clothing across the globe. Government authorities in developed countries are increasingly concerned about the health and safety of the workers.
Honeycomb reinforcement was the second-fastest growing application for meta-aramid fiber market during the forecast period
A honeycomb core comprises of a sandwich structure that is covered with facings or skins. The function of the core that is used as a filling is to add strength without adding weight to the final components. Honeycomb core materials are made of thermoplastic, aramid, aluminum, fiberglass, paper, carbon, and stainless steel. Meta-aramid fiber for honeycomb reinforcement adds benefits such as low weight, rigidity, durability, and toughness.
APAC is projected to be the fastest growing meta-aramid fiber market during the forecast period, in terms of value
Asia Pacific is projected to be the fastest-growing meta-aramid fiber market, in terms of both value and volume, during the forecast period. The region is a global manufacturing hub and has one of the world's largest numbers of on-road vehicles. Rising incomes, standards of living, population, and exports support the growth of the meta-aramid fiber market in the region. Emerging economies, such as China, India, Indonesia, and Thailand, are expected to witness robust expansion in terms of urbanization and infrastructure as well as investments in the manufacturing sector.
Market Dynamics
Drivers
- Increasing Demand for Lightweight Materials in Security & Protection Applications
- Rising Need for Lightweight Materials to Reduce Emissions from Vehicles
- Potential Substitute for Steel and Asbestos
Restraints
- High R&D Cost
- Non-Biodegradability of Meta-Aramid Fiber
Opportunities
- Increasing Demand for Homeland Security
- Growing Aerospace & Defense Sector
- Advancement in Aramid Material Manufacturing Technology
Challenges
- High Cost of Production
- Available Alternatives with Similar Properties
| Report Attribute | Details |
| No. of Pages | 214 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $1.4 Billion |
| Forecasted Market Value (USD) by 2027 | $2.3 Billion |
| Compound Annual Growth Rate | 10.6% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Meta-Aramid Fiber Market, by Type
6.1 Introduction
6.2 Staple
6.3 Paper
6.4 Filament
7 Meta-Aramid Fiber Market, by Application
7.1 Introduction
7.2 Nonwoven Bag Filter
7.3 Apparel
7.4 Turbo Hose
7.5 Electric Insulation
7.6 Honeycomb Reinforcement
7.7 Others
8 Meta-Aramid Fiber Market, by End-Use Industry
8.1 Introduction
8.2 Automotive
8.3 Aerospace & Defense
8.4 Electrical & Electronics
8.5 Oil & Gas
8.6 Industrial
8.7 Others
9 Meta-Aramid Fiber Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Adjacent & Related Markets
13 Appendix
Companies Mentioned
- Aramid HPM, LLC
- Barnet Intelligent Materials
- CNV Special Chemical Fiber Co. Ltd.
- Coats Group plc
- Dupont De Nemours, Inc.
- GD Textiles (Madurai). Pvt. Ltd.
- Huvis Corporation
- Kermel
- Labon Technical Fiber
- Lydall Industrial Filtration
- Pro-Systems Spa
- Shanghai J&S New Materials Co. Ltd.
- Teijin Ltd.
- Toray Industries, Inc.
- X-Fiper New Material Co. Ltd.
- Yantai Tayho Advanced Materials Co. Ltd.
- YF International Bv
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