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    Para Aramid Fiber Market Report

    Para Aramid Fiber Market Report
    Report code - SRAM575 Published On : Jan,2021 No. of Pages: 240
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    Para-Aramid Fiber Market Size, Share, Trend, Forecast, & Industry Analysis: 2021-2026
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    Impact of COVID-19 on Para Aramid Fiber Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Para Aramid Fiber Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    Commonly known as Kevlar®, para-aramid was first developed at DuPont™ by Stephanie Kwolek in the 1930s. However, it was first made commercially available in the 1970s as a replacement for steel in racing tires. Para-aramid possesses higher crystallinity as compared to meta-aramid and is manufactured through the dry-jet wet spinning method. It is used across industries for a broad range of applications such as ropes and cables, tire reinforcements, optical fiber cables, hose reinforcements, friction materials, and ballistic protection.

    Over the years, there have been several advancements in the industry concerning the development of new products. For instance, Teijin, in 2017, introduced a new para-aramid fabric that protects structures from airborne volcanic fragments. Teijin Ltd. And DuPont de Nemours, Inc. maintain unambiguous precedence in the market, occupying over 80% market share.

    The leading industries, aerospace & defense, and automotive, have been trying to achieve a state of placidity for the past few years. With minor hurdles along the road within both of the highest demand-generating industries, the market stakeholders hoped to regain stability in 2020, with flourishing demand and a hassle-free market environment. However, the sudden outburst of COVID-19 shook the unsuspecting market players, bringing in unsought changes in the business.

    Contrary to our earlier estimates, our post-COVID estimates suggest that the market is expected to suffer a steep decline of -13.3% YoY in 2020. That being said, ceaseless demand from the relatively unstirred electrical & electronics industry is likely to be the saving grace for the para-aramid market in the long-term, nudging it to a value of US$ 2.7 Billion by 2026. Many other prime factors fueling the growth of the market in the long-term are increasing wireless infrastructure revenue, rising 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, and the fibers’ upper hand among their archrivals such as steel and carbon fibers.

    Para-Aramid-Fiber-Market-Forecast

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    Segments' Analysis

    Para-Aramid Fiber Market by End-Use Industry Type

    Based on the end-use industry, Stratview Research has segmented the market as aerospace & defense, automotive, electrical & electronics, oil & gas, and industrial. One of the cornerstones of the global economy, the oil & gas industry, faced an abysmal impact of the pandemic, suffering the third price collapse in the past 12 years, with the prices reaching 30-year lows. The two largest demand-generators of the marketthe resilient aerospace & defense and automotive industries are likely to rebound gradually, creating an array of opportunities in the long run. Lastly, the rather unwary electrical & electronics industry is expected to be the thrust-bearer of the market.

    Para-Aramid-Fiber-Market-by-End-Use-Industry

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    Para-Aramid Fiber Market by Application Type

    Based on the application type, we have segmented the market as protection & safety, electrical transmission, tire reinforcement, rubber reinforcement, friction materials, and others. Protection & safety is likely to maintain its dominance in the market throughout the forecast period with usage in crucial areas of application such as armored vehicles, high-tech aerospace applications, and bullet-proof body armor.

    Regional Insights

    In terms of regions, North America and Europe held the major chunk of the market in 2020These two regions, with the presence of key players, are likely to maintain their dominance in the years to come. Asia-Pacific is expected to most efficiently handle the crisis at hand, growing at the highest rate during 2021-2026. The Chinese para-aramid fiber industry developed late but progressively achieved industrialization during the past decade. India to become the next potential manufacturing hub, decking up to welcome companies willing to move away from China amid the pandemic.

     

    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2015-2026

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Size in 2026

    US$ 2.7 Billion

    Countries/Subregions Covered

    The USA, Canada, Mexico, France, Germany, the UK, Russia, China, Japan, India, Brazil, Saudi Arabia and others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

                                                                              

    The para-aramid fiber market is segmented into the following categories.

    Para-Aramid Fiber Market Size, Share & Forecast, by Application Type

    • Protection & Safety
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Sub Application Analysis: Personal Protection, Protective Apparels, and Armored Vehicles)
    • Electrical Transmission
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Sub Application Analysis: Optical Fiber Cables and Others)
    • Tire Reinforcement
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Sub Application Analysis: Passenger Car, Aircraft Tire, Bicycle Tire, Racing & Motorcycles, and Others)
    • Rubber Reinforcement
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Sub Application Analysis: Conveyor Belts, Hoses, Power Transmission Belts, and Others)
    • Friction Materials
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Sub Application Analysis: Brake Pads, Gaskets, and Others)
    • Others
    • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • (Sub Application Analysis: Reinforced Plastics, Reinforcement Materials, Ropes & Cables, and Others)

    Para-Aramid Fiber Market Size, Share & Forecast, by Form Type

    • Filament (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Pulp (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Staple Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Para-Aramid Fiber Market Size, Share & Forecast, by End-Use Industry

    • Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Electrical & Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Oil & Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Industrial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Para-Aramid Fiber Market Size, Share & Forecast, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

    Key Players

    The supply chain of this market comprises raw material suppliers, para-aramid fiber suppliers, part manufacturers, OEMs, and MRO companies.

    The key players in the para-aramid fiber market are-

    • Teijin Ltd.
    • DuPont de Nemours, Inc.
    • Kolon Industries, Inc.
    • Hyosung
    • Yantai Tayho Advanced Materials Co. Ltd., etc.

    The major players’ key focus (capacity expansions) has now transitorily shifted to cash preservation and long-term stability to handle the ongoing crisis.

    Similar to the overall aramid market, DuPont de Nemours and Tejin Ltd. practically rule the para-aramid fiber market’s competitive landscape, Tejin maintaining its vanguard. The market is extremely concentrated with the top five players grabbing the majority share of the market. The major companies display a keen focus on capacity expansions in order to perpetuate and expand their steadfast presence in the market. For instance, in 2017, the market leader, Teijin, announced its target of Twaron’s capacity expansion by more than 25% over the next five years. In the same year, the company also established a new production line at its Technora production facility in Matsuyama, Japan

    Research Methodology

    For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

    Report Features

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s para-aramid fiber market realities and future market possibilities for the forecast period of 2021 to 2026. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for para-aramid fibers at the global, regional, as well as country level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenario. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies in order to expedite their growth process.

     The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling         

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]

    Frequently Asked Questions (FAQs)

    Para-Aramid Fiber Market size in pressure vessels for alternative fuels is expected to grow at a healthy CAGR in the next five years to reach US$ 2.7 Billion in 2026.

    Teijin Ltd., DuPont de Nemours, Inc., Kolon Industries, Inc., Hyosung, and Yantai Tayho Advanced Materials Co. Ltd., etc. are among the key players in the Para-Aramid Fiber Market.

    Asia-Pacific is expected to grow at highest rate in the Para-Aramid Fiber Market during the forecast period.

    Protection & safety is expected to remain the most dominant application type in the Para-Aramid Fiber Market in the coming years.

    Increasing wireless infrastructure revenue, rising tire replacement demand coupled with an expected recovery in automotive production, expected rebound in commercial and regional aircraft deliveries, growing military expenditure are the factors driving the growth of para-aramid fiber market.

    The supply chain of para-aramid fiber market comprises raw material suppliers, para-aramid fiber suppliers, part manufacturers, OEMs, and MRO companies.

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