According to ChemAnalyst report, “Global Aramid Fibre Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Type, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2030”, The Aramid Fibre market is likely to experience a shift in demand by reaching 140 thousand tonnes in 2030, at an expected CAGR of 3.99% during the forecast period. The increasing demand of Aramid Fibre for Automotive, Safety & protection Equipment, Electronic & Telecommunication, Aerospace, and Others, end-use industries, is anticipated to hike up the demand for Aramid Fibre market in the coming years.
Aramid Fibre are heat-resistant fibres. A chemical reaction between an amine group and a carboxylic acid halide group produces this fibre. Usually, the spinning technique is used to prepare them. They are high in demand due to their properties like high tensile strength, water-resistance, corrosion resistance, abrasion resistance, and stability at high temperature (up to 500 degree Celsius). They have various industrial applications like security and protection items, Rubber & Tyre Reinforcement, Frictional Material, Optical Fibre, and others.
The Aramid Fibre market across the globe is primarily driven due to its usage by the Automotive sector. This fibre is used to synthesize automobile parts like car tires, turbocharger hoses, train parts, disc brakes, belts, gaskets, clutches, seat fabrics, electronics and seat sensors. In 2021, the Automotive Industry consumed about 30% of the global Aramid Fibre. This industry is expected to retain as the dominant consumer in the future as well due to growing demand of vehicles for transportation and travel purposes. Due to its flame-resistance and high durability, it is used widely in the Safety & protection Equipment industry where it is used to make products like bullet-proof vests and flame-resistant suits which is expected to finely contribute towards the Aramid Fibre demand in the forecast period. Furthermore, Aramid Fiber is used for making fuel tanks and doors of rockets and satellites, propelling the Aramid Fibre market in the forecast period.
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The global Aramid Fibre market is segmented based on type, end-use, sales channel, and region. Based on type, the Aramid Fibre market is segregated into Para Aramid and Meta Aramid. Out of these two types, the Para Aramid type is dominating the market and estimated to have consumed more than 50% of net Aramid Fibre in 2021.
Based on end-uses, the Aramid Fibre market is segregated into Automotive, Safety & protection Equipment, Electronic & Telecommunication, Aerospace, and Others. The Automotive Industry is dominating the Aramid Fibre market and held a market share of about 30% in 2021. It is anticipated to remain the most significant consumer in forecast period as well. Although, demand of Aramid Fibre by the Safety & protection Equipment Industry also holds significant market shares.
Based on demand, Asia Pacific dominates the global Aramid Fibre market, consuming about with a demand of approximately 35% of the global Aramid Fibre in 2021 amongst all other regions, and it is anticipated that it will continue to dominate the market in the coming years. Asia Pacific is also the key producer of global Aramid Fibre.
Global Aramid Fibre Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Type, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2030”, the significant players functional in the Aramid Fibre market are E.I. du Pont de Numerous and company, Teijin Limited, Kolon Industries Inc., Yantai Taiho Advanced Material Co. Ltd, Hyosung Corporation, Toray Industries Inc., SRO Aramid, and Huvis Corporation.
“The increasing demand for Aramid Fibre is predicted due to its applications such as manufacturing of Automotive parts and Safety & protection Equipment. Aramid Fibre possess properties like high tensile strength and high-temperature resistance due to which it finds its applications in multiple industries. The total demand for Aramid Fibre in the global market during the forecast period is finely contributed by demand for the manufacture of fuel tanks and doors in the aerospace sector. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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