According to a new market report published by Lucintel, the future of the para aramid fiber market looks promising with opportunities in the frictional materials, protection, electrical transmission, safety garments , rubber reinforcement, tire reinforcement, and oil and gas industries. The global para aramid fiber market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $3.2 billion by 2025 with a CAGR of 2% to 4% from 2020 to 2025 . The major drivers for this market are increasing usage of para aramid fiber in brake pads, clutches, gaskets, linings, and tires in automotive and the growing demand for protective clothing in defense and industrial sectors.
Browse 115 market data tables and 112 figures spread through 191 pages and in-depth TOC on “Para Aramid Fiber Market"
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In this market, various product forms of para aramid fiber, such as filament yarn, short fibers, and pulp fiber are used in wide range of industries. On the basis of comprehensive research, Lucintel forecasts that the filament yarn will remain the largest segment by value and it is also expected to witness the highest growth over the forecast period due to increasing demand for protective clothing in the military and stringent regulations in Europe and North America regarding employee health and safety.
Within para aramid fiber market, frictional materials will remain the largest application by value due to growing penetration of para aramid fiber in brake pads and gasket as an alternative material to asbestos in automotive industry. Optical fiber is expected to witness the highest growth over the forecast period due to increasing demand for high bandwidth fiber optic cables for data services and communication.
Europe will remain the largest region and it is also expected to witness the highest growth over the forecast period due to increasing automotive production, growth in aerospace industry, and stringent government regulation on industrial safety and protection.
An emerging trend, which has a direct impact on the dynamics of the industry, includes development of new para aramid fabric which protects structures from airborne volcanic fragments. Teijin, DuPont, Kolon, Hyosung, and Yantai Tayho are among the leading suppliers of para aramid fiber market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the para aramid fiber market by application, product form, and region, and has come up with a comprehensive research report “Growth Opportunities in Para Aramid Fiber Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes market trends and forecasts for the para aramid fiber market segmented by application, product form, and region as follows:
By Application (million pounds and $ million shipment analysis from 2014 to 2025):
Frictional Materials
Brake Pad
Gasket
Protection
Bullet Proof Vest
Bullet Proof Vehicles
Combat Helmet
Electrical Transmission
Optical Fiber
Others
Safety Garments
Gloves
Fire Fighting Garments
Rubber Reinforcement
Conveyor Belt
Others
Tire Reinforcement
Oil and Gas
Others
By Product Form (million pounds and $ million shipment analysis from 2014 to 2025):
Filament Yarn
Short Fibers
Pulp
Others
By Region (million pounds and $ million shipment analysis from 2014 to 2025):
North America
United States
Canada
Mexico
Europe
Asia Pacific
The Rest of the World
This 191-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/para-aramid-fiber-market.aspx or helpdesk@lucintel.com.
About Lucintel
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