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Meta Aramid Fiber Market Report | Covid-19 Impact Analysis
Meta-Aramid Fiber Market is Segmented by Application Type (Protection & Safety, Electrical Insulation, Honeycomb Paper, Rubber Reinforcement, and Filtration), by End-Use Industry (Aerospace & Defense, Automotive, Electrical & Electronics, Oil & Gas, and Industrial), by Form Type (Filament, Staple Fiber...
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and statergy 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.
In the 1960s, DuPont produced the first-ever meta-aramid fiber as HT-1 under the brand name Nomex. After rigorous work by Stephanie Kwolek during the 1960s-1970s, DuPont also became the first to introduce para-aramid fiber, Kevlar in 1973. Later in 1978, Twaron, a very similar fiber was introduced by Akzo, leading to several patent disputes in the 1980s. This phenomenon led to a series of events, totally flipping the market dynamics with Dupont losing its market share to rival companies. Today, there are several recognized brands in the industry: Kevlar, Nomex, Twaron, Technora, Heracron, etc. Even though DuPont lost its leadership to Teijin in the para-aramid market, it proficiently asserts an indubitable lead in the meta-aramid as well as the global aramid fiber markets.
Para-aramid offers key benefits such as excellent heat and flame resistance, high thermal protection, excellent chemical resistance, and electrical isolation. The material is used in a range of applications such as electrical insulation, clothing of fire-fighters, car racing suit, hoses, and belts. The aerospace & defense and electrical & electronics industries are likely to create healthy demand during the forecast period, driven by increasing demand for aramid paper for honeycomb panels and electrical insulation.
The unanticipated outburst of COVID-19 caused severe distraught in the market, bringing in irreparable changes in the fundamentals of the business. Stratview Research’s latest estimates suggest that the market is expected to take a deep plunge of -13.5% YoY in 2020. However, unending demand from the least impacted electrical & electronics industry is likely to balance out a portion of the losses suffered in 2020, aiding the market to reach US$ 1.5 billion by 2026. Several other factors insinuating a healthy recovery from 2021 onwards are the expanding electrical and electronics industry, the expected recovery in automotive production, expected rebound in commercial and regional aircraft deliveries, growing military expenditure.
Based on the form type, Stratview Research has segmented the market as paper, staple fiber, and filament. In terms of both value and volume, the paper is likely to maintain its dominance over the next five years with key applications in electrical insulation and honeycomb paper. The filament is another attractive segment with prime applications in protective fabrics and filtration. Meta-aramid’s high resistance to heat makes it the preferred material for electrical insulation, protective gear, and heat shields in vehicles.
Based on the end-use industry, we have segmented the market as aerospace & defense, automotive, electrical & electronics, oil & gas, and industrial. Unlike the overall aramid fiber market, here in meta-aramid fiber, the automotive industry holds a diminutive share of the market in 2020. Aerospace & defense and electrical & electronics are likely to be the largest segments by 2026. Advancements in the electrical & electronics industry have been on an uphill trajectory, generating massive demand for aramid paper, especially for electrical insulation purposes.
All regions’ markets are expected to be shaken by the pandemic, suffering grave downturns in 2020. Despite being the worst-hit regions, North America and Europe to hold the major shares of the market till 2026. On the other hand, Asia-Pacific is expected to show early signs of recovery, growing at the highest rate during 2021-2026. India preparing to restructure policies to welcome companies willing to move away from China amid the pandemic. China and India are expected to remain the growth engines of the market till 2026.
The supply chain of this market comprises raw material suppliers, meta-aramid fiber suppliers, part manufacturers, OEMs, and MRO companies.
The key players in the meta-aramid fiber market are-
The major players keenly focus on capacity expansions in order to ensure their dominance in the market and gain a wider geographical footprint. However, the focus has now shifted to cash preservation and long-term stability.
DuPont de Nemours holds an unquestionable dominance in the market, followed by Teijin Ltd. These players are expected to maintain their leadership during the forecast period as well. The leading players’ key strategies include capacity expansion, collaborations, partnerships, joint ventures, etc. For example, under a joint venture, DuPont and Nippon Paper Papylia, to expand Nomex paper capacity with a new facility in Japan (2021).
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.
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Research Scope |
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Trend & Forecast Period |
2015-2026 |
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Regions Covered |
North America, Europe, Asia-Pacific, Rest of the World |
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Size in 2026 |
US$ 1.5 Billion |
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Countries/Subregions Covered |
The USA, Canada, Mexico, France, Germany, the UK, Russia, China, Japan, India, Brazil, Saudi Arabia and others |
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Figures & Tables |
>150 |
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Customization |
Up to 10% customization available free of cost |
The meta-aramid fiber market is segmented into the following categories.
Meta-Aramid Fiber Market Size, Share & Forecast, by Application Type
Meta-Aramid Fiber Market Size, Share & Forecast, by Form Type
Meta-Aramid Fiber Market Size, Share & Forecast, by End-Use Industry
Meta-Aramid Fiber Market Size, Share & Forecast, by Region
This report, from Stratview Research, studies the global meta-aramid fiber market over the trend period of 2015 to 2020 and the forecast period of 2021 to 2026. After a continuous interest in our aramid fiber market and para-aramid fiber market reports from the industry stakeholders, we have tried to further accentuate our research scope to the meta-aramid market in order to provide the most crystal-clear picture of the market. 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 the market participants as well as investors in the identification of the low-hanging fruits available in the market and to formulate the growth strategies to expedite their growth process.
The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
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]
Meta-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$ 1.5 Billion in 2026.
Teijin Ltd., DuPont de Nemours, Inc., Yantai Tayho Advanced Materials Co., Ltd., Huvis Corporation, SRO Aramid, etc. are among the key players in the Meta-Aramid Fiber Market.
Asia-Pacific is expected to grow at highest rate in the Meta-Aramid Fiber Market during the forecast period.
Paper is expected to remain the most dominant form type in the Meta-Aramid Fiber Market in the coming years.
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