The global aramid fiber market is projected to register a size of USD 6.51 billion by 2024, according to a new report by Grand View Research, Inc. The market will be driven by increasing demand for protective clothing from various sectors such as industrial and defense. The growth of these end-user industries is projected to propel market expansion further over the forecast period.
Aramid fibers were extensively used for manufacturing frictional materials which accounted for 25.8% of the global revenue share in 2015. It is used for producing a broad range of materials including pig iron, steel, clutches, automotive brakes, shoes, fabricated discs with a superior braking power to reduce judder, noise, vibration and fading.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/aramid-fiber-market
Further key findings from the report suggest:
·
The global demand for aramid fiber was 78.22
kilo tones in 2015. High strength, resistance to abrasion & organic
solvents and low flammability makes it a viable option across a wide array of
applications including textiles, aviation, automotive and electronic
applications. Rising demand for textiles and vehicles is expected to drive
market growth over the forecast period.
·
Growing requirement for protective clothing from
defense & industrial sectors for security & protection will result in
high growth over the forecast period. Furthermore, stringent regulations implemented
by the U.S. OSHA regarding the safety of workers are fueling consumption of
protective clothing.
·
Para-aramid fiber market was estimated as the
largest market in 2015 accounting for 66.2% of the volume share, owing to its
high strength and insulation property which makes it an essential material for
use in electronics, automotive and aviation applications
·
Europe accounted for 34.7% of the volume share
in 2015 and is projected to experience significant growth owing to the
increasing penetration of the product in various industries such as aerospace,
security and protection and electrical insulation in several countries
including Germany, France and UK. The growth of the automotive sector will
further influence demand for the product over the next eight years. Moreover,
the presence of a stringent regulatory framework for the protection of workers
is expected to propel the demand for protective clothing, thereby, driving
demand for aramid fibers.
·
Key industry players include HYOSUNG
Corporation, E. I. du Pont de Nemours and Company, Teijin Aramid, Ibiden Co.,
Ltd., Toray Chemical Korea Inc., Yantai Tayho Advanced Materials Co. Ltd. and
Huvis Corporation. These companies have a strong emphasis on R&D activities
to introduce new products and strengthen their aramid fiber product portfolio.
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sample of this research report: - http://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has segmented the global aramid fiber market on the basis of product, and end-use:
Product Outlook (Volume, Tons; Revenue, USD Million; 2013 - 2024)
·
Para-aramid
·
Meta-aramid
·
Others
End-use Outlook (Volume, Tons; Revenue, USD Million; 2013 - 2024)
·
Optical Fiber
·
Rubber Reinforcement
·
Friction Materials
·
Aerospace
·
Security and Protection
·
Tire Reinforcement
·
Electrical Insulation
·
Others
Regional Outlook (Volume, Tons; Revenue, USD Million; 2013 - 2024)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
France
o
Italy
o
UK
·
Asia Pacific
o
China
o
India
o
Japan
o
South Korea
·
Latin America
o
Brazil
·
MEA
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more reports of this category by Grand View Research: http://www.grandviewresearch.com/press-release/global-aramid-fiber-market
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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