Para-aramid Fibers Market Size & Share, Sector / Industry Report & Analysis, 2019-2025

Trusted Business Insights presents the Latest Study on Para-aramid Fibers Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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Abstract, Snapshot, Market Analysis & Market Definition: Global Para-aramid Fibers Market

The global para-aramid fibers market size was estimated at USD 2.2 billion in 2017 and is expected to exhibit a CAGR of 6.5% from 2018 to 2025. Increasing utilization of para-aramid fiber as an alternative to asbestos and steel in military and aerospace applications for ballistic grade body armor fabric is likely to fuel market growth over the forecast period.
The market is expected to witness substantial growth owing to its superior properties including high strength and rigid molecular structure, which drives product use in security and protection applications. Increasing demand for protective headgear, eye protection equipment, and safety harnesses is anticipated to propel product demand over the coming years.

Stringent government norms regarding safety of employees at workplace and large penalties for non-compliance with these standards have driven product demand in U.S. Increasing onshore and offshore drilling activities, coupled with a thriving shale oil and gas industry, are also expected to drive product demand over the forecast period.
The product is supplied through wholesalers, retailers, direct agreements between players and distributors, or through third-party supply agreements. E. I. du Pont de Nemours Company and Teijin Ltd. are major product manufacturers and suppliers across the globe that are forward integrated across the value chain.
Various companies are involved in the development of low-cost and technologically advanced aramid fiber products. Hand lay-up, vacuum bagging, vacuum infusion, RTM, RTM light, press molding, filament winding, and pultrusion are some of the methods adopted for product manufacturing.
The threat of substitutes is anticipated to remain medium over the forecast period. Carbon and glass fibers can be used as alternatives to aramid fibers depending on the requirement in various application segments. In addition, most end users prefer aramid-based products over other synthetic fibers on account of their excellent chemical, mechanical, and thermal properties.
Product manufacturers are facing numerous challenges, elevated manufacturing cost, and low production efficiency, which can act as a deterrent to growth. Factors including high production cost, high initial investment, and inconsistent raw material supply are also expected to hamper market growth, thereby discouraging the entry of new players in the market.

Market Segmentation, Outlook & Viewpoint: Global Para-aramid Fibers Market

Application Market Segmentation & Outlook (Volume, Tons; Revenue, USD Million, 2014 – 2025)

Security & Protection

Optical Fibers

Friction Materials

Rubber Reinforcement

Tire Reinforcement

Others

Key Players, Recent Developments & Regional Insights: Global Para-aramid Fibers Market

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Security and protection was the largest segment in the para-aramid fibers market in 2017 and is expected to reach a value of USD 1.4 billion by 2025. Para-aramid-based products have registered high demand from the security and protection application owing to growing concerns over personnel protection in military and industrial sectors.
Para-aramid fibers are used as strength providers in the design and manufacturing of fiber optic cables owing to their low weight, flexibility, dielectricity, and handling. Optical fiber applications include aerial dielectric self-supporting cables, premise cables, water-blocking yarns, and fiber to the home (FTTH), which find extensive use of the product.

Para-aramid fibers are extensively used as an alternative to asbestos in friction and sealing products. They are widely used in friction plates and pads due to superior benefits such as extended life, non-glaze/smear on the surface of the lining, fade resistance, and non-aggressive wear on drums and discs. This is expected to drive demand over the forecast period.
Use of aramid fibers in tires provide benefits such as higher performance, increased safety, higher comfort, and reduced fuel consumption. Superior fatigue resistance provided by the product in racing car tires is expected to drive the substitution of traditionally used materials such as polyester, steel, and polyamide, thereby benefitting the industry.
Aramid fibers are also used in aerospace components, including fairings, primary wing, fuselage, landing gear doors, leading and trailing edge panels on the wings, flight control surfaces, and vertical and horizontal stabilizers. They are used mainly in components that are subject to impact resistance, high stress, and low weight on account of superior performance characteristics.

Regional Insights
Asia Pacific was the fastest growing market for para-aramid fibers in 2017 and is expected to register a CAGR of 6.3% in terms of volume from 2018 to 2025. This can be attributed to the security and protection measures in various industries such as healthcare/medical, mining, oil and gas, manufacturing, building and construction, and military.
The market in China is estimated to exhibit significant growth over the forecast period, on account rapid industrialization and continuous infrastructure development supported by government efforts. In addition, increasing R&D and other activities by major players in the country is anticipated to boost product demand through 2025.
Europe was the largest market for para-aramid fibers in 2017 with the trend expected to continue till the end of the forecast period. Demand for high bandwidth fiber optic cables for data services and communication is expected to have a positive influence on market growth.
Stringent regulations laid down by various regulatory bodies, such as the Health and Safety Executive (HSE), the American National Standards Institute (ANSI), and state bodies pertaining to security and protection measures of workers in various industries are expected to drive the regional markets. Increasing efforts undertaken by major companies in North America is also expected to benefit industry growth.
Para-aramid Fibers Market Share Insights
Key players are executing various strategies such as partnerships, mergers and acquisitions, new product development, and agreements with tier 1 and tier 2 players to gain a competitive edge. Various initiatives by prominent participants, such as technology innovations and research and development, are projected to increase the competition in the market over the forecast period.
Presence of large companies such as Teijin and DuPont with significant market share is expected to limit market entry for new players. Companies in the industry benefit from high market goodwill due to dominance of a handful of players. Companies compete majorly on product quality due to low price-sensitivity of consumers across the globe.

Key Insights Covered: Global Para-aramid Fibers Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Para-aramid Fibers industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Para-aramid Fibers industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Para-aramid Fibers industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Para-aramid Fibers industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Para-aramid Fibers industry.

Research Methodology: Global Para-aramid Fibers Market

  • Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  • Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  • Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other

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