Global Aramid Fibers Market is expected to grow at a CAGR of 8.5% during the forecast period to reach a value of USD 6.8 Billion by 2027. Increase in demand from the defense industry for ballistics proof armor and guards, use in the automotive and aerospace industries, implementation of worker safety guidelines at industrial plants and excessive costs of steel and aluminum imports (creating a market for substitutes for fibers) is driving the growth of the market. However, the effects of fiber aramids on human health have not been studied in detail and the non-biodegradable nature of fiber is also a concern raised by environmentalists. These drawbacks are a few key concerns impeding the growth of the market.
The major aramid fiber companies such as DuPont (US), Toray Chemicals (Japan), Hyosung Corporation (South Korea) and Yantai Tahyo Advanced Material Co. among others have been profiled in the report. They are the major companies for aramid fibers.
The global Aramid Fibers market size was significantly robust in 2020 and is expected to register a double-digit revenue CAGR over the forecast period. Major factor fueling the Aramid Fibers market revenue growth includes growing demand for double walled transport tankers required for efficient and economical transportation of LNG globally.
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The report covers the market dynamics analysis, company profiles, production and manufacturing capacity, product specifications, product value, and key players. The report also offers an insight into the growth prospects during the forecast period. The Aramid Fibers Market report also offers detailed data on the key market players to impart a deeper understanding of the competitive landscape. The report focuses on the key market elements to ensure the readers gain a competitive advantage and maximum benefit of the market data to assist them in achieving substantial growth and an advantageous position in the global market.
On the basis of the product type, the market is segmented into:
On the basis of the application, the market is segmented into:
- Security Protection
- Frictional Materials
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The report further provides an extensive analysis of the key geographical regions where the market is spread and offers a comprehensive overview of the market size, market share, revenue generation, production and consumption patterns, supply and demand ratio, and import/export ratio, among others.
Based on the regions, the report covers the following regions:
- North America (U.S.A., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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- Statistical analysis represented in the form of charts, tables, diagrams, and other
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