Global Aramid Fiber Market is Anticipated to Reach US$ 5,099.1 Mn by 2023: Transparency Market Research
Transparency Market Research has released a new market report titled “Aramid Fiber Market (Para-aramid Fiber and Meta-aramid Fiber) for Aerospace & Defense, Automotive, Electrical, Electronics & Telecommunication, and Other End-users - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2023.” According to the report, the global aramid fiber market was valued at US$ 2,598.2 Mn in 2014 and is projected to reach US$ 5,099.1 Mn by 2023, expanding at a CAGR of 7.8% from 2015 to 2023.
Browse the full Aramid Fiber Market Report: http://www.transparencymarketresearch.com/aramid-fiber-market.html
Aramid fibers are heat resistant, strong, man-made high-performance fibers. Aramid fiber is a fiber with a long chain of synthetic polyamide. Based on products, aramid fibers can be segmented into para-aramid fiber and meta-aramid fiber. Aramid fibers are used in end-user markets such as aerospace & defense, automotive, electrical, electronics & telecommunication, construction, and sport goods. In terms of region, Europe was the largest regional segment of the global aramid fiber market in 2014, owing to the growth of protective clothing and personal armor industries in the region. This growth is primarily ascribed to the increase in exports to developing countries. In terms of volume, Europe accounted for more than 35% share of the global aramid fiber market in 2014.
Asia Pacific is anticipated to be the fastest growing market for aramid fiber during the forecast period. Demand for aramid fiber in the region is estimated to be mainly driven by rapid rise in the consumption of aramid fiber in China, India, and countries in ASEAN. Growth in the automotive industry and increase in defense expenditure is projected to drive the demand for aramid fiber in Asia Pacific in the next few years. The aramid fiber market in the Middle East & Africa is also likely to experience significant growth during the forecast period. The aramid fiber market in North America is expected to witness significant growth owing to steady recovery of the developed region from the economic slowdown. The aramid fiber market in Latin America is anticipated to expand at a noteworthy rate over the next eight years, primarily due to growth in automotive and construction end-user industries.
Key players operating in the aramid fiber market include E. I. du Pont de Nemours and Company, Teijin Aramid, Kolon Industries Inc., HYOSUNG Corporation, and Yantai Tayho Advanced Materials Co., Ltd.
Browse the full Press Release: http://www.transparencymarketresearch.com/pressrelease/aramid-fiber-market.htm
The report segments the global aramid fiber market as follows:
Aramid Fiber Market: Product Analysis
- Para-aramid fiber
- Meta-aramid fiber
Aramid Fiber Market: End-user Analysis
- Aerospace & defense
- Electronics & telecommunication
- Others (including construction)
Aramid Fiber Market: Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
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