Aramid Fiber Market -2021-2026

by Fiber Type (Para-Aramid Fiber and Meta-Aramid Fiber), by Application Type (Protection & Safety, Electrical Transmission & Insulation, Tire Reinforcement, Rubber Reinforcement, Friction Materials, Filtration, Paper, and Others), by Form Type (Filament, Pulp, Staple Fiber, and Others), by End-Use Industry (Aerospace & Defense, Automotive, Electrical, Electronics & Telecommunications, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Size, Share, Trend, Forecast, & Competitive Analysis

Published	Pages	Publisher	Report code
Jan 2021	240	Stratview Research	ASDR-588764

Published: Jan 2021 - Pages : 240 - Publisher : Stratview Research - Report code : ASDR-588764

Aramid Fiber Market Insights
First introduced by DuPont de Nemours, Inc. in the 1970s, aramid fibers have witnessed a remarkable transition over the decades across industries. The progression of the material’s range of applications from consumer electronics to automotive to aerospace & defense has been phenomenal. These fibers offer various outstanding properties, such as high tensile strength, high stiffness, good resistance to abrasion, good resistance to organic solvents, low flammability, electrically non-conductive nature, high dimensional stability, high cut resistance, and resistance to high temperature. The strength and modulus of aramid fiber are about five to six times and two to three times, respectively, of steel wires with the same diameter, whereas its weight is approximately one-fifth of the steel wire.

Despite a few bumps along the road for the governing industries (aerospace & defense and automotive), the demand for aramid fiber remained stable till 2019, impelling market stakeholders to prepare for skyrocketing demand in the years to come. But the COVID-19 crisis crashed all possibilities of a flourishing market in 2020. The two leading industries suffered the gravest impact of the pandemic, completely overturning the market conditions, with an overall acute decline of -13.4%, YoY in 2020.

However, the unremitting demand from the relatively unaffected defense and electrical & telecommunications industries is likely to be the redeeming grace for the aramid fiber market, indemnifying a portion of the losses incurred. Also, incessant investments towards the establishment of 4G and 5G networks are likely to support the aramid fiber demand in the long run. The market is likely to experience a brisk recuperation from 2021 onwards, translating to a cumulative sale of US$ 22.4 Billion during 2021-2026.

Several other key factors propelling the growth of the market, in the long run, are-

increasing wireless infrastructure revenue
surging tire replacement demand coupled with an expected recovery in automotive production
expected rebound in commercial and regional aircraft deliveries
growing military expenditure
increasing mining production, and
the fibers’ upper hand among their arch-rivals such as steel and carbon fibers

The aramid fiber market is extremely concentrated with the top four players capturing the lion’s share of the market. The major companies focus on capacity expansions, collaborations, and partnerships to maintain their vanguards in the market and to pounce at any prevalent opportunities in the market. A few of the key collaborations/partnerships in the market are Teijin and Nippon Paper Papylia to expand Nomex paper capacity with a new facility in Japan which is expected to be established by 2021. Another significant movement in the market was the Dow and DuPont merger in 2017, valued at US$ 130 Billion, this was one of the biggest mergers in the industry, creating the world’s biggest chemical company, only to de-merge later in 2019.

Aramid Fiber Market by Application Type
Based on the application type, we have segmented the market as protection & safety, electrical transmission & insulation, tire reinforcement, rubber reinforcement, friction materials, filtration, paper, and others. Electrical transmission & insulation and protection & safety are expected to be the largest demand-generating applications during the forecast period. These two segments are also likely to endure a relatively lower impact of the pandemic in 2020. Zealous efforts towards the development and implementation of next-gen 4G and 5G communications is likely to fuel the long-term demand.

Para-Aramid Fiber Market by Form Type
Based on the form type, we have segmented the market as filament, pulp, staple fiber, and others. The filament is likely to maintain its dominance in the market till 2026, owing to its numerous advantages such as excellent strength-to-weight ratio, heat, flame, and chemical-resistance, high dimensional stability, ability to modify as per application, and availability in various colors. Staple fiber is also likely to offer attractive opportunities during the forecast period with key applications in hot gas filtration fabrics, sewing threads, zipper tapes, firefighters turnout facing fabrics, aircraft carpeting, cut-protection products such as gloves.

Regional Insights
In terms of regions, North America and Europe are likely to hold a massive chunk of the market in 2020 as well as in the foreseen future. The leading aerospace & defense and automotive industries are likely to hugely influence the regions’ demand in the long term. Despite taking a steep plunge in 2020, the USA takes the throne in North American as well as the global markets. Post suffering the least downturn in 2020, Asia-Pacific to act as a catalyst for the market, rapidly and efficiently recovering from the pandemic’s aftermath. China and India are expected to remain the thrust-bearers of the market in the long-term.

Key Players
The supply chain of this market comprises raw material suppliers, aramid fiber suppliers, part manufacturers, OEMs, and MRO companies.

The key players in the aramid fiber market are-

DuPont de Nemours, Inc.
Teijin Ltd.
Kolon Industries, Inc.
Yantai Tayho Advanced Materials Co. Ltd., etc.

The key players have always had a keen interest in capacity expansions and collaboration, which have now been halted as an indispensable move towards cash preservation and short-term strategizing. However, with the gradually healing aerospace & defense, automotive, and electrical transmission & insulation industries, the market stakeholders’ activity is expected to pick up pace in the long-term.

The aramid fiber market is segmented into the following categories.

Aramid Fiber Market Size, Share & Forecast, by Fiber Type

Para-Aramid Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Meta-Aramid Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aramid Fiber Market Size, Share & Forecast, by Application Type

Protection & Safety