[3/11/2019]: The global Aramid Fiber Market is estimated to gain huge traction in terms of value,
during the forthcoming years. Aramid fibers are derived for their superior
strength and stiffness that allows its usage for efficient load transfer in
heavy-duty industries. The growing number of wars and strains across
international borders has hiked the demand for bulletproof vests, missiles,
armored car, eye-guards, headgear, etc., which has propelled the progression of
the market. Aramid fiber has registered moderately high cost and low
compressive strength, thus hindering the market expansion.
Based
on product, the market has been segmented into meta-aramid, para-aramid, and
others. Aramid fiber market has found its application across ballistic security
& protection, rubber reinforcement, optical fibers, frictional materials,
tire reinforcement, aerospace, and electrical insulation, and others.
Meta-aramid fibers are highly resistant to extreme temperature & adverse
climatic condition, abrasion, and chemical degradation, which has encouraged
this industry to generate the highest market share.
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In
order to study the span of the industry, the global market has been
geographically segmented into the five key regions of North America, Europe,
the Asia Pacific, the Middle East, and Africa, and Latin America. The stringent
regulatory norms for building strong airplane structures and demand for
protective clothing is spurring the market growth across European countries
like Germany, France, and the U.K. Also, the enormous proliferation of oil
& gas, steel, and construction industry in Europe has impelled it to emerge
as the fastest growing and the highest market share generating region. Swelling
demand for aramid fibers in electrical, automotive, and construction end-user
manufacturing sectors, across the emerging economies China and India, is likely
to drive the market in Asia Pacific in the upcoming years.
The
competitive landscape showcases the profiles and business strategies of the
major players, along with their recent developments. Some of the dominant players operating in this market include Teijin
Aramid, Kolon Industries Inc., E. I. du Pont de Nemours and Company, Yantai
Tayho Advanced Materials Co. Ltd., Alchemie Group, HYOSUNG Corporation, Kermel,
China National Bluestar Co. Ltd., SRO Group Ltd., and Guangdong Charming Co.,
Ltd. Among others.
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