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    Aramid Fiber Market Report

    Aramid Fiber Market Report
    Report code - SRAM115 Published On : Jan,2021 No. of Pages: 240
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    Aramid Fiber Market Size, Share, Trend, Forecast, & Competitive Analysis: 2021-2026
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    Impact of COVID-19 on Aramid Fiber Market

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

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    Impact of COVID-19 on Aramid Fiber Market

    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.

    Aramid Fiber Market Insights

    First introduced by DuPont de Nemours, Inc. in the 1970s, aramid fibers have witnessed a remarkable transition over the decades across industries. The progression of the material’s range of applications from consumer electronics to automotive to aerospace & defense has been phenomenal. These fibers offer various outstanding properties, such as high tensile strength, high stiffness, good resistance to abrasion, good resistance to organic solvents, low flammability, electrically non-conductive nature, high dimensional stability, high cut resistance, and resistance to high temperature. The strength and modulus of aramid fiber are about five to six times and two to three times, respectively, of steel wires with the same diameter, whereas its weight is approximately one-fifth of the steel wire.

    Despite a few bumps along the road for the governing industries (aerospace & defense and automotive), the demand for aramid fiber remained stable till 2019, impelling market stakeholders to prepare for skyrocketing demand in the years to come. But the COVID-19 crisis crashed all possibilities of a flourishing market in 2020. The two leading industries suffered the gravest impact of the pandemic, completely overturning the market conditions, with an overall acute decline of -13.4%, YoY in 2020.

    However, the unremitting demand from the relatively unaffected defense and electrical & telecommunications industries is likely to be the redeeming grace for the aramid fiber market, indemnifying a portion of the losses incurred. Also, incessant investments towards the establishment of 4G and 5G networks are likely to support the aramid fiber demand in the long run. The market is likely to experience a brisk recuperation from 2021 onwards, translating to a cumulative sale of US$ 22.4 Billion during 2021-2026.

    Aramid-Fiber-Market-Forecast

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    Several other key factors propelling the growth of the market, in the long run, are-

    • increasing wireless infrastructure revenue
    • surging 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 arch-rivals such as steel and carbon fibers

    The aramid fiber market is extremely concentrated with the top four players capturing the lion’s share of the market. The major companies focus on capacity expansions, collaborations, and partnerships to maintain their vanguards in the market and to pounce at any prevalent opportunities in the market. A few of the key collaborations/partnerships in the market are Teijin and Nippon Paper Papylia to expand Nomex paper capacity with a new facility in Japan which is expected to be established by 2021. Another significant movement in the market was the Dow and DuPont merger in 2017, valued at US$ 130 Billion, this was one of the biggest mergers in the industry, creating the world’s biggest chemical company, only to de-merge later in 2019.

     

    Aramid Fiber Market Share Analysis

    Aramid-Fiber-Market-By-End-Use-Type

    Aramid Fiber Market by Application Type

    Based on the application type, we have segmented the market as protection & safety, electrical transmission & insulation, tire reinforcement, rubber reinforcement, friction materials, filtration, paper, and others. Electrical transmission & insulation and protection & safety are expected to be the largest demand-generating applications during the forecast period. These two segments are also likely to endure a relatively lower impact of the pandemic in 2020. Zealous efforts towards the development and implementation of next-gen 4G and 5G communications is likely to fuel the long-term demand.

    Para-Aramid Fiber Market by Form Type

    Based on the form type, we have segmented the market as filament, pulp, staple fiber, and others. The filament is likely to maintain its dominance in the market till 2026, owing to its numerous advantages such as excellent strength-to-weight ratio, heat, flame, and chemical-resistance, high dimensional stability, ability to modify as per application, and availability in various colors. Staple fiber is also likely to offer attractive opportunities during the forecast period with key applications in hot gas filtration fabrics, sewing threads, zipper tapes, firefighters turnout facing fabrics, aircraft carpeting, cut-protection products such as gloves.

    Regional Insights

    In terms of regions, North America and Europe are likely to hold a massive chunk of the market in 2020 as well as in the foreseen future. The leading aerospace & defense and automotive industries are likely to hugely influence the regions’ demand in the long term. Despite taking a steep plunge in 2020, the USA takes the throne in North American as well as the global markets. Post suffering the least downturn in 2020, Asia-Pacific to act as a catalyst for the market, rapidly and efficiently recovering from the pandemic’s aftermath. China and India are expected to remain the thrust-bearers of the market in the long-term.

    Aramid-Fiber-Market-By-Region

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    Key Players

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

    The key players in the aramid fiber market are-

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

    The key players have always had a keen interest in capacity expansions and collaboration, which have now been halted as an indispensable move towards cash preservation and short-term strategizing. However, with the gradually healing aerospace & defense, automotive, and electrical transmission & insulation industries, the market stakeholders’ activity is expected to pick up pace in the long-term.

     

    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.

     

    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$ 22.4 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 aramid fiber market is segmented into the following categories.

    Aramid Fiber Market Size, Share & Forecast, by Fiber Type

    • Para-Aramid Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Meta-Aramid Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    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 & Insulation
      • Regional Analysis (North America, Europe, Asia-Pacific, and RoW)
      • Sub Application Analysis (Fiber Optic Cables, Electric Insulation, 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, Automotive Hoses, Industrial Hoses, Power Transmission Belts, and Others)
    • Friction Materials
      • Regional Analysis (North America, Europe, Asia-Pacific, and RoW)
      • Sub Application Analysis (Automotive, Industrial Breaking Elements, Automotive Gaskets, Industrial Gaskets, and Others)
    • Filtration (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Paper (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    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)

    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 (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Electronics & Telecommunications (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    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: Saudi Arabia, Brazil, and Others)

     

    Report Features

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s 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 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 scenarios. 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)

    Aramid Fiber Market size is expected to grow at a healthy CAGR in the next five years to reach US$ 22.4 Billion in 2026.

    Increasing wireless infrastructure revenue, surging 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 arch-rivals such as steel and carbon fibers are the factors driving the growth of Aramid Fiber Market.

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

    Electrical transmission & insulation and protection & safety are expected to be the largest demand-generating applications in the Aramid Fiber Market during the forecast period.

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