Aramid Fiber Market Size, Impacted by COVID-19, to Reach US$ 4.2 Billion in 2026, Says Stratview Research

DETROIT, Jan. 19, 2021 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Aramid Fiber Market by Fiber Type (Para-Aramid Fiber and Meta-Aramid Fiber), by Application Type (Protection & Safety, Electrical Transmission & Insulation, Tire Reinforcement, Rubber Reinforcement, Friction Materials, Filtration, Paper, and Others), by Form Type (Filament, Pulp, Staple Fiber, and Others), by End-Use Industry (Aerospace & Defense, Automotive, Electrical, Electronics & Telecommunications, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Size, Share, Trend, Forecast & Competitive Analysis: 2021-2026.

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today's aramid fiber market realities and future market possibilities for the forecast period of 2021 to 2026. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for aramid fibers at the global, regional, as well as country level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenarios. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as formulate growth strategies.

Aramid Fiber Market: Highlights from the Report

First introduced by DuPont de Nemours, Inc. in the 1970s, aramid fibers have witnessed a remarkable transition over the decades across industries. The progression of the material's range of applications from consumer electronics to automotive to aerospace & defense has been phenomenal. These fibers offer various outstanding properties, such as high tensile strength, high stiffness, good resistance to abrasion, good resistance to organic solvents, low flammability, electrically non-conductive nature, high dimensional stability, high cut resistance, and resistance to high temperature. The strength and modulus of aramid fiber are about five to six times and two to three times, respectively, of steel wires with the same diameter, whereas its weight is approximately one-fifth of the steel wire.

Despite a few bumps along the road for the governing industries (aerospace & defense and automotive), the demand for aramid fiber remained stable till 2019, impelling market stakeholders to prepare for skyrocketing demand in the years to come. But the COVID-19 crisis crashed all possibilities of a flourishing market in 2020. The two leading industries suffered the gravest impact of the pandemic, completely overturning the market conditions, with an overall acute decline of -13.4%, YoY in 2020.

However, the unremitting demand from the relatively unaffected defense and electrical & telecommunications industries is likely to be the redeeming grace for the aramid fiber market, covering a portion of the losses incurred. Also, incessant investments towards the establishment of 4G and 5G networks are likely to support the aramid fiber demand in the long run. The market is likely to experience a brisk recuperation from 2021 onwards, translating to a cumulative sale of US$ 22.4 Billion during 2021-2026.

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Based on the application type, we have segmented the market as protection & safety, electrical transmission & insulation, tire reinforcement, rubber reinforcement, friction materials, filtration, paper, and others. Electrical transmission & insulation and protection & safety are expected to be the largest demand-generating applications during the forecast period. These two segments are also likely to endure a relatively lower impact of the pandemic in 2020. Zealous efforts towards the development and implementation of next-gen 4G and 5G communications is likely to fuel the long-term demand.

Based on the form type, filament is likely to maintain its dominance in the market till 2026, owing to its numerous advantages such as excellent strength-to-weight ratio, heat, flame, and chemical-resistance, high dimensional stability, ability to modify as per application, and availability in various colors. Staple fiber is also likely to offer attractive opportunities during the forecast period with key applications in hot gas filtration fabrics, sewing threads, zipper tapes, firefighter's turnout facing fabrics, aircraft carpeting, cut-protection products such as gloves.

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In terms of regions, North America and Europe are likely to hold a massive chunk of the market in 2020 as well as in the foreseen future. The leading aerospace & defense and automotive industries are likely to hugely influence the regions' demand in the long term. Despite taking a steep plunge in 2020, the USA takes the throne in North American as well as the global markets. Post suffering the least downturn in 2020, Asia-Pacific to act as a catalyst for the market, rapidly and efficiently recovering from the pandemic's aftermath. China and India are expected to remain the thrust-bearers of the market in the long-term.

The supply chain of this market comprises raw material suppliers, aramid fiber suppliers, part manufacturers, OEMs, and MRO companies. Key players in the aramid fiber market are DuPont de Nemours, Inc., Teijin Ltd., Kolon Industries, Inc., Yantai Tayho Advanced Materials Co. Ltd., etc. The key players have always had a keen interest in capacity expansions and collaboration, which have now been halted as an indispensable move towards cash preservation and short-term strategizing. However, with the gradually healing aerospace & defense, automotive, and electrical transmission & insulation industries, the market stakeholders' activity is expected to pick up pace in the long-term.

The aramid fiber market is extremely concentrated with the top four players capturing the lion's share of the market. The major companies focus on capacity expansion, collaborations, and partnerships to maintain their vanguards in the market and to pounce at any prevalent opportunities in the market. A few of the key collaborations/partnerships in the market are Teijin and Nippon Paper Papylia to expand Nomex paper capacity with a new facility in Japan which is expected to be established by 2021. Another significant movement in the market was the Dow and DuPont merger in 2017, valued at US$ 130 Billion, was one of the biggest mergers in the industry, creating the world's biggest chemical company, only to de-merge later in 2019.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

This report studies the global aramid fiber market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:

Aramid Fiber Market, by Fiber Type

• Para-Aramid Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Meta-Aramid Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aramid Fiber Market, by Application Type

• Protection & Safety
• Regional Analysis (North America, Europe, Asia-Pacific, and RoW)
• Sub Application Analysis (Personal Protection, Protective Apparels, and Armored Vehicles)
• Electrical Transmission & Insulation
• Regional Analysis (North America, Europe, Asia-Pacific, and RoW)
• Sub Application Analysis (Fiber Optic Cables, Electric Insulation, and Others)
• Tire Reinforcement
• Regional Analysis (North America, Europe, Asia-Pacific, and RoW)
• Sub Application Analysis (Passenger Car, Aircraft Tire, Bicycle Tire, Racing & Motorcycles, and Others)
• Rubber Reinforcement
• Regional Analysis (North America, Europe, Asia-Pacific, and RoW)
• Sub Application Analysis (Conveyor Belts, Automotive Hoses, Industrial Hoses, Power Transmission Belts, and Others)
• Friction Materials
• Regional Analysis (North America, Europe, Asia-Pacific, and RoW)
• Sub Application Analysis (Automotive, Industrial Breaking Elements, Automotive Gaskets, Industrial Gaskets, and Others)
• Filtration (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Paper (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aramid Fiber Market, by Form Type

• Filament (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Pulp (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Staple Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aramid Fiber Market, by End-Use Industry

• Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Electrical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Electronics & Telecommunications (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aramid Fiber Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

Stratview Research has several high value market reports in the composites and advanced materials industry. Please refer to the following link to browse through our reports:
Click Here for Other Reports from Stratview Research in the Advanced Materials Industry: https://www.stratviewresearch.com/market-reports/Advanced-Materials.html

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