The global aramid fiber market size was valued at USD 4,522.6 million in 2019. The market could touch USD 7,243.3 million by 2027 and expand at a 6.5% CAGR during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report, titled, “Aramid Fiber Market, 2020-2027.”

According to the study, aramid fibers have become sought-after to boost abrasion resistance, and low flammability with no melting points. For instance, meta aramid has become sought-after on the back of attributes such as electrical insulation, flame resistance, radiation resistance and chemical stability.

Report Coverage

The report provides a holistic view of the market size, share, revenue and volume. It has deep-dived into SWOT analysis and focused on qualitative and quantitative assessments to provide a bird’s eye view of the market. The primary interviews validate assumptions, findings and the prevailing business scenarios. The report also includes secondary resources, such as annual reports, press releases, white papers and journals. The research report also delves into pre-and post-COVID analysis to provide a comprehensive market perspective.

Segmentations

Para-Aramid to Remain Dominant with Rising Demand from Aerospace & Defense Sector

With respect to the product type, the market is segregated into para, meta and others. The para segment could account for the largest share due to strong demand from the aerospace & defense sector. The need for bulletproof body armors will be pronounced over the next few years, auguring well for the segment growth.

Security & Protection Segment to Grow with Growing Need for Protective Barrier

In terms of application, the industry is classified into aerospace, frictional materials, security & protection, rubber & tire reinforcement, electrical insulation, optical fiber and others. The security & protection segment will witness notable growth due to an increasing need for protective barriers and additional protection.

Major Players Profiled in the Market Report:

• Yantai Tayho Advanced Materials Co., Ltd. (China)
• DuPont (U.S.)
• HUVIS CORPORATION (South Korea)
• Aramid Hpm, LLC. (U.S.)
• Teijin Limited (Japan)
• Hyosung Corporation (South Korea)
• X-FIPER New Material Co., Ltd. (China)
• Kolon Industries Inc. (South Korea)

Drivers and Restraints