The Aramid Fiber market is projected to grow at a CAGR of 5.51% to reach US$4.718 billion by 2023, from US$3.419 billion in 2017. Aramid fiber is a class of strong synthetic fiber which is widely used for ballistic rated body armor fabric and composites. Growing demand for protective clothing in various industries like construction, aerospace, military is considered as the driving factor for the growth of the market. Increasing defense expenditure and rapid expansion of automotive industry is expected to propel the demand during the forecast period. However, availability of substitute products with better properties is considered as the restraining factor for the growth of the market. The Aramid Fiber market of APAC region is expected to witness the rapid growth during the forecast period owing to increasing investment in defense and automotive sector during the forecast period.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study has been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottoms-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Aramid Fiber value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the Aramid Fiber market.
Major industry players profiled as part of the report are Du Pont de Nemours and Company, Teijin Ltd, Huvis Corp, Toray Chemicals, Kolon Industries and Yantai Tayho Advanced Materials Co among others.
The Aramid Fiber market has been analyzed through following segments:
Aerospace and Defense
Middle East and Africa
United Arab Emirates