Aramid Fiber Market worth $3,067 M by 2019, According to a New Study on ASDReports

Thursday 27 November 2014, Amsterdam

The report, now available on ASDReports, “Aramid Fiber Market by Type (Para-aramid Fiber, Meta-aramid Fiber) and Application (Security & Protection, Frictional Material, Tire & Rubber Reinforcement, Optical Fiber, Electrical Insulation, Aerospace, Others) - Global Trends & Forecasts to 2019”, defines and segments the aramid fiber market with an analysis and forecast for types, and applications by volume as well as value.


“Asia-Pacific is the key market for Aramid fiber”

Europe, North America, and Asia-Pacific dominated the aramid fiber market in 2013 and accounted for over 85% of the market, by volume and value. Country-wise, the U.S. is the top consumer of aramid fiber products globally. Germany is the second-largest aramid fiber consumer in the world. Diverse end-use markets range from defense, automotive, telecommunication, construction, electronic appliances, and mechanical rubber goods among others. Future growth in the international market hinges heavily onto developing economies, especially in in Asia-Pacific and Latin America. China and India, especially, stand out as noteworthy emerging markets, given the mass exodus of production activities (automotive & industrial) from developing countries to low-cost Asian countries. The ensuing increase in foreign investments and rise in the number of new manufacturing establishments will witness Asia-Pacific emerge into a prime driver of growth for the aramid fiber market.


“Optical fiber and aerospace application of aramid fiber to drive the growth in the market”

Security & protection took the topmost position in the aramid fiber market with around 39% market share by value in 2013. The increasing war-like situations around the world are expected to sustain the demand for security & protection application of aramid fibers in the coming years. The fastest growth rate till 2019 in the aramid fiber market is projected to come from applications, such as optical fiber and aerospace. Aramid fiber is used for optical fiber reinforcement by covering the optical fiber and protecting it from the external environment, such as extreme temperatures, animal attacks, salt water, and from cuts or cracks. Aramid fiber is also used in the aerospace industry in aviation structures, fuselages, aircraft interiors for reducing weight, and for ballistic protection. The demand for aramid fiber for such applications is on the rise and is expected to drive the growth for the aramid fiber market.


“Meta-aramid fiber to have the highest growth”

Para-aramid fiber had the largest market share in terms of volume in 2013. Demand for security & protection application will continue to drive the growth for this segment. Meta-aramid fiber segment on the other hand is projected to have higher growth on account of the demand from firefighting, heavy electronic equipment, automotive, marine, and aerospace sector among others. The increasing focus on meta-aramid fiber production by the market players and the development of meta-aramid variants are also expected to be the driving factors for meta-aramid fiber market.