At 10.3 % CAGR, Aramid Fibers Market Size Worth USD 6.5 Billion by 2027: IndustryARC
The shift in trend to lightweight automobiles is one of the key driving factors in the Aramid Fibers Market Growth.
The shift in trend to lightweight automobiles is one of the key driving factors in the Aramid Fibers Market Growth. Aramid fibers are synthetic fibers that are made from aromatic polyamides and possess superior characteristics like high strength, resistance to heat, abrasion & solvents and electrical insulation. Aramid Fibers can be segmented into two types, namely, Para-aramid and Meta-aramid fibers. It is typically used in applications such as ballistic composites, protective clothing, industrial filtration, optical fibers and so on. Aramid Fibers are known to possess superior tensile strength, even more so than steel, and works efficiently even at temperatures as high as 600 degrees Celsius. They also possess dielectric properties which makes them ideal for electrical applications. The report coverage includes market segmentation, market landscape, drivers and challenges. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more. Click here to browse the complete report summary:URL Key takeaways: This IndustryARC report on the Aramid Fibers Market highlights the following areas - 1. Asia-Pacific is the fastest-growing region for the Aramid Fibers market, and it can be attributed to the growth of the Aerospace and Defense Industry, especially in China and India. Interested in knowing more relevant information? This is because para-aramid fibers showcase outstanding strength-to-weight ratio as well as high tensile strength. This makes para-aramid fibers ideal for applications in protective and ballistic clothing and for the production of lightweight vehicles. This is primarily due to the substantial growth of the aerospace industry in the Asia-Pacific Region. According to Boeing Commercial Market Outlook 2021-2040, China is estimated to acquire 8,700 new aircraft within the next 20 years. China, also, currently accounts for 13% of the worldwide fleet which is estimated to be 19.9% by 2040. Aramid Fibers are used as reinforcement components in the primary wings and the fuselage in new-generation aircraft. They are also used in the landing gear doors and edge panels. The Boeing Commercial Market Outlook 2021-2040 has estimated that the world fleet of aircraft will grow by a total of 43,610, an estimate of 3.1% growth. Competitive Landscape: The top 5 players in the Aramid Fibers Industry are - 1. TEIJIN Limited2. IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports. Related Reports: A. Aramid Prepreg Market__URL__ B.