According to the latest report by Reports and Data, the global Para-Aramid Fiber market is expected to reach a size of USD 8,569.4 Million by 2030, with a revenue CAGR of 6.0% over the forecast period. The growth is being driven by several factors, including the increasing demand for lightweight materials for personnel protection equipment and the production of stab-resistant and bullet-proof products such as gloves, helmets, and clothing material. The market is also being fueled by the growing industrialization and urbanization worldwide, as aramid fiber is being used as an asbestos and steel substitute for new infrastructure projects.
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The use of Para-Aramid Fiber is also increasing in the aerospace, defense, automotive, and construction industries, as it provides both corrosion and impact resistance. It also offers temperature stability and improved vision systems. The report highlights the para-aramid fiber segment as a significant revenue growth rate over the forecast period, due to its use in protective apparel, tires, rubber goods, fiber-optic cable tension members, friction material, and construction reinforcement among others. The security and protection segment is also expected to register a significant revenue growth rate due to its unique set of qualities that cause these fibers to thicken when exposed to extreme heat.
The report notes that the automotive segment accounted for the largest revenue share in the aramid fibers market in 2020. Aramid fibers are utilized in the production of tires reinforcement materials, powertrain components, turbocharger hoses, brake pads, belts, gaskets, seat textiles, clutches, electronics, seat sensors, and hybrid motor materials in the automobile industry. The market in Europe is expected to register the highest revenue share in the global aramid fibers market during the forecast period, driven by the presence of large manufacturing organizations, expanding end-use industries, and the rise of the automotive industries.
Companies profiled in the market report include:
- DuPont
- Toray Industries, Inc.
- Hyosung Corporation
- Kolon Industries Inc.
- China National Bluestar (Group) Co. Ltd
- Teijin Limited
- Kermel
- Ibiden Co., Ltd.
- SRO Aramid (Jiangsu) Co., Ltd.
- Yantai Tayho Advanced Materials Co., Ltd.
The report segments the global aramid fibers market based on type, spinning process, application, end-use, and region, with para-aramid fiber, wet spinning, security and protection, aerospace and defense, and North America being some of the key highlights.
Aramid Fibers Market: Notable Innovation
The aramid fibers market has seen several notable innovations in recent years. One of the key developments is the use of aramid fibers in 3D printing. Aramid fibers are known for their high strength, durability, and heat resistance, which makes them an ideal material for 3D printing applications.
Another notable innovation is the development of hybrid aramid fibers. These fibers combine the strength and durability of traditional aramid fibers with other materials such as carbon fibers or glass fibers. The result is a material that has even greater strength and stiffness than traditional aramid fibers alone.
In addition, there have been advancements in the production process of aramid fibers. New methods have been developed to produce aramid fibers with improved properties such as increased tenacity, modulus, and elongation.
Finally, there has been an increase in the use of aramid fibers in emerging markets such as aerospace and defense, automotive, and construction. As the demand for high-performance materials continues to grow in these markets, aramid fibers are becoming an increasingly popular choice due to their superior strength and durability.
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