According to the recent study the aramid fiber market is projected to reach an estimated $4.0 billion by 2030 from $2.9 billion in 2023, at a CAGR of 5.0% from 2023 to 2030. Growth in this market is primarily driven by 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.
Browse 92 figures / charts and 62 tables in this 155 -page report to understand trends, opportunities and forecast in aramid fiber market by application (safety and protection, frictional material, rubber reinforcement, electrical transmission, and others), type (para aramid fiber and meta aramid fiber), end use (aerospace, automotive, electronics and telecommunication, protective clothing, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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.
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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.
Kolon Industries Inc., E.I. Du Pont de Nemours, Teijin Aramid, Yantai Tayho Advanced Materials, and Hyosung Corporation are the major suppliers in the aramid fiber market.
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Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056
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