Global Aramid Fiber Market (2021 to 2026) - Increasing Demand for Homeland Security Presents Opportunities - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Aramid Fiber Market by Type (Para-Aramid Fiber, Meta-Aramid Fiber), Application (Security & Protection, Frictional Materials, Industrial Filtration, Optical Fibers, Rubber Reinforcement, Tire Reinforcement), Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The aramid fiber market is projected to reach USD 6.3 billion by 2026, at a CAGR of 9.7% from USD 3.9 billion in 2021. The increased demand for lightweight and flexible materials from the automotive and military & defense industries for various applications is driving the market.

Furthermore, the regulations relating to reducing carbon emissions compel several industry players to look for alternative materials that are lightweight, strong, and fuel-efficient. This is expected to drive the aramid fiber market further during the forecast period. On the contrary, the high R&D costs and the non-biodegradable nature of aramid fibers are restraining the market growth.

The para-aramid fiber is the largest type of aramid fiber for aramid fiber market in 2020

Para-aramid fiber is primarily used in security & protection applications. The increased need for protective clothing in the military and industrial sectors is estimated to drive the para-aramid fiber market. However, meta-aramid fiber is estimated to witness substantial growth during the forecast period because of its increased usage in industrial filtration applications.

Security & protection is estimated to be the largest application of aramid fiber market between 2021 and 2026.

The security & protection application segment led the market in 2020. It is projected to maintain its leading position until 2026 because of the increasing demand from emerging economies such as China, Brazil, and India. They are primarily used for military, industrial, and civil purposes-the need for thermal and ballistic protection is rising in civil law enforcement and armed forces owing to increasing insurgency and terrorism.

Europe is expected to be the largest aramid fiber market during the forecast period, in terms of value.

Europe is the largest market for aramid fiber. Stringent safety regulations within industries such as oil & gas, construction, aluminum, and steel are fueling the demand for protective clothing, which is driving the aramid fiber market in Europe. Additionally, friction materials are required for high-end automotive as well as in other industrial sectors that also contribute to the growing aramid fiber market in the region.

Market Dynamics

Drivers

• Increasing Demand for Lightweight Materials in Security & Protection Applications
• Rising Need for Lightweight Materials Offering Significant Emission Reduction in Vehicles
• Potential Substitute for Steel and Asbestos

Restraints

• High R&D Costs
• Non-Biodegradable Nature of Aramid Fibers

Opportunities

• Increasing Demand for Homeland Security
• Growing Aerospace and Defense Sector
• Advancements in Aramid Materials Manufacturing Technology

Challenges

• High Cost of Production
• Available Alternatives with Similar Properties

Companies Mentioned

• Aramid Hpm, LLC
• Barnet Intelligent Materials
• China National Bluestar (Group) Co. Ltd.
• Dupont De Numerous, Inc.
• Gangying Industry
• Huvis Corporation
• Hyosung Corp.
• Jsc Kamenskvolokno
• Kermel
• Kolon Industries Inc.
• Lydall Industrial Filtration Americas
• Pro-Systems Spa
• Shanghai J&S New Materials Co. Ltd.
• Shenma Industrial Co. Ltd.
• Sinopec Yizheng Chemical Fiber Co. Ltd.
• Sro Aramid (Jiangsu) Co. Ltd.
• Suzhou Zhaoda Specially Fiber Technical Co. Ltd.
• Taekwang Industrial Co. Ltd.
• Teijin Ltd.
• Toray Industries, Inc.
• Veplas Advanced Technologies Group
• Wuxi Heshengyuan Carbon Fiber Technology Co. Ltd.
• X-Fiper New Material Co. Ltd.
• Yantai Tayho Advanced Materials Co.
• YF International Bv

For more information about this report visit https://www.researchandmarkets.com/r/jkcwno