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Aramid Fiber Market Trends and Forecast

The future of the global aramid fiber market looks promising with opportunities in safety and protection, frictional material, rubber reinforcement, and electrical transmission applications. The global aramid fiber market is expected to reach an estimated $4 billion by 2030 with a CAGR of 5% from 2023 to 2030. The major drivers of growth for this market are increasing usage of aramid fiber in brake pads, clutches, gaskets, linings, and tires in automotive and the growing demand for protective clothing from defense and industrial sectors.

  • Lucintel forecasts that safety and protection will remain the largest application by value and volume due to increasing in government initiatives for the safety of the employees and public.
  • Para aramid fiber is expected to remain the largest market by value and volume over the forecast period mainly driven by its increasing use in automotive, defense, and industrial sector.
  • North America is expected to remain the largest market and due to increasing demand for lightweight and flexible materials from the automotive and military & defense industries. APAC is expected to witness the highest growth over the forecast period