Aramid Fiber Market Analysis Size, Growth rate and Overview:
According to our research report, the
Aramid Fiber Market Size was projected to grow from USD 3.28 billion in 2018 to
anticipate to reach USD 5.78 billion by 2024, at a CAGR of 9.9% during the
forecast period 2018-2024.
Currently, aramid fibers are
increasingly used in aerospace and defense, electronics and telecommunications,
and electricity, among other industries, due to their various uses. Aramid fibers are synthetic high-performance fibers
with molecules that are characterized by rigid polymer chains. These molecules
are linked by hydrogen bonds, which enable the easy and efficient transfer of
mechanical stress. Aramid fibers are distinguished from other synthetic ones by
a number of characteristics such as good resistance to organic solvents, low
flammability, high strength, non-conductivity, resistance to abrasion, no
melting point, and good fabric integrity at high temperatures.
Browse details of
150 number of pages research report developed on Aramid Fiber
Market Research Report @ https://www.researchcosmos.com/reports/aramid-fiber-market/29427742
Aramid Fiber Market Key Drivers, Challenges, and
Opportunities:
Aramid fiber is a versatile product
with low volatility and flexibility that makes it suitable for the
construction, painting and textile industries. It is expected that the growing
demand for aramid fibers in aerospace and defense applications will drive
growth in this market worldwide. It is also expected that the growing
automotive industry, which uses aramid fiber, will be a key driver for the
growth of the market. In addition, the greater accessibility of raw materials
should contribute even more to the overall growth of the market.
The high costs of raw materials and
the change of the application market from developed to emerging countries are
among the main obstacles to the growth of this market. In addition, the
increase in production costs could also be another major obstacle to the global
aramid fiber market. Manufacturing companies are focusing on the manufacture of
innovative products, which should open new perspectives for the market in the
coming years.
Aramid Fiber Market – Regional Presence:
Europe
was the main market for aramid fiber, which represented a market share of
around 37% in 2017. In addition, in 2017, North America maintained the second
largest market for aramid fibers with approximately 29% share. Asia-Pacific
maintained around 23% of overall revenue. Asia Pacific is also expected to be
the fastest growing market for aramid fiber in the near future. The markets in
the Middle East, Africa and Latin America are backed by government rules and
environmental factors. Brazil and South Africa are the emerging markets for
aramid fiber in Latin America.
Some of
the Key Players Profiled in this Aramid Fiber Market Report are:
Some
of the major players of the world aramid fiber market
include Kermel Toray Chemical Korea Inc., E.I. du Pont de Nemours & Co.,
Kolon Industries Inc., Yantai Tayho Advanced Materials Co., Hyosung
Corporation, Teijin Limited, and SRO Aramid Co. Ltd., among others.
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Global Sales Manager
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kevin@researchcosmos.com
Global Sales Manager
Research Cosmos
www.researchcosmos.com
+1 888 709 8757
https://marketreportsweb.com/
https://acutemarketinsights.com/
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