Para-Aramid Fiber Market Growth Analysis Report (2023-2028)

Para-Aramid Fiber Market Growth Analysis Report (2023-2028)

Para-Aramid Fiber Market Growth Analysis Report (2023-2028)
Report code - SRAM575 Published On : Aug,2023 No. of Pages: 240
Para-Aramid Fiber Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2 See more...

Market Insights

"The global para-aramid fiber market is likely to grow at a moderate CAGR of 3.9% during 2023-2028 to reach an estimated value of US$ 2.7 billion in 2028."

Para-Aramid-Fiber-Market-Insights

Wish to Get a Free Sample? Click here.

Para-aramid fibers are a type of synthetic fiber that belongs to the aramid family. They are known for their exceptional strength, heat resistance, and durability. The term "para" in para-aramid refers to the specific arrangement of the polymer's chemical structure, which contributes to its unique properties.

Para-aramid fibers are characterized by their high tensile strength, which makes them several times stronger than steel on a weight-to-strength basis, making them ideal for applications requiring robust materials with the ability to withstand high levels of stress and strain.

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.

Para-Aramid Fiber Market Report Overview

Market Size in 2028

USD 2.7 billion

Market Growth (2023-2028)

3.9% CAGR

Base Year of Study

2022

Trend Period

2017-2021

Forecast Period

2023-2028

Market Dynamics

Market Drivers

Industries, such as aerospace, automotive, defense, and sports equipment, are increasingly seeking lightweight materials that offer high tensile strength. Para-aramid fibers, with their exceptional strength-to-weight ratio, are favored in applications where weight reduction and high performance are crucial. The need for protective clothing and equipment in various sectors, including the military, law enforcement, firefighting, industrial work, and sports, has driven the demand for para-aramid fibers. These fibers are used in manufacturing flame-resistant and cut-resistant textiles that offer excellent protection to personnel.

However, ceaseless demand from the relatively unstirred electrical & electronics industry is likely to be the saving grace for the para-aramid fiber market in the long run. Many other prime factors are fueling the growth of the market in the long term, including increasing wireless infrastructure revenue, rising tire replacement demand coupled with an expected recovery in automotive production, a rebound in commercial and regional aircraft deliveries, growing military expenditure, and increasing mining production.

COVID-19 Impact

The sudden outburst of COVID-19 shook the unsuspecting market players, bringing in unseen changes in the business. The pandemic caused economic uncertainty and reduced consumer spending, which in turn affected industries that use aramid fibers, such as automotive, aerospace, and construction, leading to decreased demand for aramid fiber products. Para-Aramid Fiber, a sizeable market, could not escape from such trends and witnessed a decline of more than 12% in 2020.

Recent Product Developments:

Technological advancements allow for the manipulation of materials in ways that were not previously possible. Many companies are leveraging these advancements to create innovative aramid fibers with improved performance and functionalities. For instance, in 2023, DuPont unveiled Kevlar® EXO aramid fiber, produced at their new facility in Virginia, USA. This revolutionary material offers superior durability and comfort compared to existing soft body armor options. Kevlar® EXO provides peak flexibility, ensuring maximum defense while maintaining comfort and mobility through innovative carrier design.

Segments Analysis

Segmentation

List of Sub-Segments

Dominant and Fastest-Growing Segments

Application-Type Analysis

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.

End-Use Industry Analysis

Aerospace & Defense, Automotive, Electrical & Electronics, Oil & Gas, and Industrial

Automotive is expected to remain the largest market over the next five years, whereas electrical & electronics is likely to grow at the fastest pace.

Form-Type Analysis

Filament, Pulp, Staple Fiber, and Others

Filament to maintain an unwavering share in terms of value and volume, during the forecast period.

Regional Analysis

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

North America is expected to remain the largest market over the next five years, whereas Asia-Pacific is likely to grow at the fastest rate.

Application Trends

"The protection & safety segment accounted for the largest market share."

The market is segmented into 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. Various industries, including oil & gas, firefighting, military, and industrial sectors, are subject to strict safety and protection regulations. These regulations drive the adoption of advanced materials like aramid fibers that offer enhanced protection against hazards such as fire, heat, chemicals, and projectiles.

End-Use Industry Trends

"The automotive segment accounted for the largest market share."

The market is segmented into aerospace & defense, automotive, electrical & electronics, oil & gas, and industrial. Automotive is expected to remain the largest market over the next five years, whereas electrical & electronics is likely to grow at the fastest pace. Aramid fibers possess excellent thermal resistance, making them suitable for applications that require effective heat management. In the electronics industry, where heat dissipation is critical to device performance and longevity, aramid fibers can be utilized in heat sinks, thermal pads, and other thermal management solutions.

Para-Aramid-Fiber-Market-Segment-Analysis-By-End-Use-Industry-Type

Want to get more details about the segmentations? Register Here

Form Trends

"The filament segment accounted for the largest market share."

The market is segmented into filament, pulp, staple fiber, and others. Filament to maintain an unwavering share in terms of value and volume, during the forecast period. The production of aramid filament fibers is well-established, and manufacturers have refined their processes over time. This stability in manufacturing contributes to the consistent availability and supply of filament-based aramid fibers.

Regional Insights

"North America accounted for the largest market share."

North America is expected to remain the largest market, and Asia-Pacific is expected to be the fastest-growing region for para-aramid fiber during the forecast period. North America has well-established industries that use aramid fibers across various applications, including aerospace, defense, automotive, and safety equipment. These industries contribute to a consistent and substantial demand for aramid fibers in the region, and the Asia-Pacific region, particularly countries like China and India, has been experiencing rapid industrialization and economic growth. This growth leads to increased demand for materials like aramid fibers in various industries, including automotive, protective clothing, and electronics.

Para-Aramid-Fiber-Market-Regional-Analysis

Want to know which region offers best growth opportunities? Click here.

Critical Questions Answered in the Report

  • What are the key trends in the global market?
  • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
  • What is the impact of COVID-19 on the global market?
  • What are the key strategies adopted by the major vendors to lead in the market?
  • What is the market share of the top vendors?

Key Players

The market is consolidated, with the presence of some regional and global players. Major players such as DuPont de Nemours, Inc., and Teijin Limited are focused on expanding global capacity to enter new markets and regions, capitalizing on the growing demand for lightweight and high-performance materials. Also, most of the major players compete on some of the governing factors, including price, product offerings, regional presence, etc.

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

  • DuPont de Nemours, Inc.
  • Teijin Limited
  • Kolon Industries, Inc.
  • Yantai Tayho Advanced Materials Co.
  • Hyosung Corporation
  • China National Bluestar (Group) Co., Ltd.
  • JSC Kamenskvolokno
  • Toray Industries, Inc.
  • Sinopec Yizheng Chemical Fibre Co., Ltd.
  • TAEKWANG

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Key questions this report answers

Relevant contents in the report

How big is the sales opportunity?

In-depth Analysis of the Para-Aramid Fiber Market

How lucrative is the future?

Market forecast and trend data and emerging trends

Which regions offer the best sales opportunities?

Global, regional, and country-level historical data and forecasts

Which are the most attractive market segments?

Market Segment Analysis and Forecast

Which are the top players and their market positioning?

Competitive landscape analysis, Market share analysis

How complex is the business environment?

Porter’s five forces analysis, PEST analysis, Life cycle analysis

What are the factors affecting the market?

Drivers & challenges

Will I get the information on my specific requirements?

10% free customization

The market is segmented into the following categories.

By Application Type

  • Protection & Safety
  • Electrical Transmission
  • Tire Reinforcement
  • Rubber Reinforcement
  • Friction Materials
  • Others

By End-Use Industry Type

  • Aerospace & Defense
  • Automotive
  • Electrical & Electronics
  • Oil & Gas
  • Industria

By Form Type

  • Filament
  • Pulp
  • Staple Fiber
  • Others

By Region

  • North America (Country Analysis: the USA, Canada, and Mexico)
  • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
  • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
  • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Para-Aramid-Fiber-Market-Report-Features

Want to get a free sample? Register Here

Research Methodology

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. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a 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. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

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 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 sales@stratviewresearch.com.

Frequently Asked Questions (FAQs)

Para-aramid fibers are a type of synthetic fiber that belongs to the aramid family. They are known for their exceptional strength, heat resistance, and durability. The term "para" in para-aramid refers to the specific arrangement of the polymer's chemical structure, which contributes to its unique properties. Para-aramid fibers are characterized by their high tensile strength, which makes them several times stronger than steel on a weight-to-strength basis, making them ideal for applications requiring robust materials with the ability to withstand high levels of stress and strain. 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.

The para-aramid fiber market is likely to reach US$ 2.7 billion in 2028.

The para-aramid fiber market is estimated to grow at a CAGR of 3.9% by 2028, driven by the need for protective clothing and equipment in various industries, including military, law enforcement, firefighting, industrial work, and sports. These fibers are used in manufacturing flame-resistant and cut-resistant textiles that offer excellent protection to personnel.

DuPont de Nemours, Inc., Teijin Limited, Kolon Industries, Inc., Yantai Tayho Advanced Materials Co., Hyosung Corporation, China National Bluestar (Group) Co., Ltd., JSC Kamenskvolokno, Toray Industries, Inc., Sinopec Yizheng Chemical Fibre Co., Ltd., and Taekwang are the leading players in the market.

North America is estimated to remain dominant in the market in the foreseeable future. North America has well-established industries that use aramid fibers across various applications, including aerospace, defense, automotive, and safety equipment. These industries contribute to a consistent and substantial demand for aramid fibers in the region.

Asia-Pacific is estimated to remain the fastest-growing market for para-aramid fibers in the foreseeable future. This region, particularly countries like China and India, has been experiencing rapid industrialization and economic growth, leading to increased demand for materials like aramid fibers in various industries, including automotive, construction, and electronics.

Protection & safety is likely to maintain its dominance in the market throughout the forecast period. Various industries, including oil & gas, firefighting, and military, are subject to strict safety and protection regulations, driving the adoption of aramid fibers to offer enhanced protection against hazards such as fire, heat, chemicals, and projectiles.