Nov 6, 2018   SOURCE: BusinessWire

Global Aramid Fiber Market Size, Share & Trends Analysis Report, 2018-2024 - ResearchAndMarkets.com

The "Aramid Fiber Market Size, Share & Trends Analysis Report By Product (Para-aramid, Meta-aramid), By End-use (Security & Protection, Aerospace, Electrical Insulation), By Region, And Segment Forecasts, 2018 - 2024" report has been added to ResearchAndMarkets.com's offering.

The global aramid fiber market generated USD 2.8 billion in 2015 and is expected to reach USD 6.5 billion by 2024, at a CAGR of 9.7%

The market is projected to witness a healthy CAGR of 9.7% during the forecast period. Increasing demand for protective clothing from various applications such as industrial and defense sector is the major factor driving the market. Growth of these end-user industries is projected to further propel the demand for aramid fibers over the next few years.

On the other hand, high cost of production is anticipated to limit the market growth. However, these fibers are light weight, heat resistant, non-flammable, and highly durable. These properties are boosting their demand, thereby augmenting the market expansion. A considerable part of every country's annual budget is occupied by the defense sector due to various factors such as political differences and rising tension across borders. Thus, increased government expenditure in the aerospace, defense and security industries is expected to drive the market.

Para-aramids led the global market in 2015. They possess high tensile strength and a tendency to deform when force is applied. They are created by the dry-jet, wet spinning technique, which results in a fiber consisting of an extended liquid crystal chains formed along its axis with a greater degree of crystallinity and strength. These fibers are widely used in vehicle components such as hoses, tires, belts, brake pads, fiber-glass reinforcement, gaskets, clutches and vehicle armors.

Thus, increasing applications of para-aramid fibers in the automobile component manufacturing is anticipated to drive the segment further over the forecast period.

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Aramid Fibres Market Industry Outlook

Chapter 4 Aramid Fibres Market Product Outlook

Chapter 5 Aramid Fibres Market End-use Outlook

Chapter 6 Aramid Fibres Regional Outlook

Chapter 7 Competitive Landscape

  • Teijin Ltd.
  • Yantai Tayho Advanced Materials Co.
  • E. I. Dupont Nemours & Co.
  • Hyosung Corp.
  • Toray Chemicals South Korea Inc.
  • Kermel
  • Kolon Industries Inc.
  • Huvis Corp.
  • China National Bluestar (Group) Co. Ltd.
  • SRO Aramid (Jiangzu) Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/research/hc5944/global_aramid?w=4