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Global Aramid Fibre Market to Reach USD 6.1 Billion by 2026, Driven by the Rising Demand from the Defence Sector

According to a new report by EMR titled, ‘Global Aramid Fibre Market Report and Forecast 2021-2026’, the global aramid fibre industry reached a value of USD 3.8 billion in 2020. The market is expected to grow at a CAGR of 8% in the forecast period of 2021-2026 to reach a value of USD 6.1 billion by 2026.

The global market for aramid fibre is anticipated to grow at a healthy pace during the forecast period, owing to the fact that aramid fibres are a preferred choice of automotive manufacturers for various applications. The market is further propelled by the rising demand from the defence sector. It is aided primarily by the rising demand from the security and protection sector in products such as ballistic-rated body armour fabric and ballistic composites. The growth of the market is also attributed to the emerging applications of the product in optical fibre activities.

North America accounts for a significant share in the global market for aramid fibre, bolstered by the increased focus on defence and military sector in the countries in the region. The United States of America is also flourishing in terms of military and defence technologies along with the rising oil and gas industry. This is further bolstering the aramid fibre industry in the country and is expected to continue to support the growth of the regional market in the forecast period.

Technological advancements and the launch of new products by the major players in the market are aiding the growth of the industry. In early 2021, Teijin Limited (OTCMKTS: TINLY), one of the key market players, announced significant advancements in its development of aramid fibre from ‘green’ raw material, i.e., non-fossil fuel raw materials. This is in compliance with government policies of various countries of North America and Europe, which is likely to propel the demand for aramid fibres in these regions in the coming years.

Market Analysis by Type, Application, and Region:

  • On the basis of type, the market is segmented into meta-aramid fibre and para-aramid fibre.
  • Based on application, the market is divided into optical fibres, frictional materials, security and protection, industrial filtration, and tyre reinforcement, among others.
  • Region-wise, the global market for aramid fibre is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing demand for personal protective equipment is likely to propel the market growth.
  • The rising demand for lightweight materials from the application sectors is further projected to aid the market growth.
  • The market is also aided by the flourishing automotive sector in major emerging countries.
  • The increasing investments into R&D activities by the major players is expected to positively impact the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for aramid fibre for the periods (2016-2020) and (2021-2026). 
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the types, applications, and major regions of aramid fibre.
  • The market data also provides the regional price trends for the (2016-2020) and (2021-2026) periods. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global aramid fibre market are Teijin Limited, DuPont de Nemours, Inc., Huvis Corporation, Shenma Industry Co., Ltd., Kolon Industries, Inc., and Kermel, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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