Aramid Fiber Industry Overview
The global aramid fiber market size was estimated at USD 4.09 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2030.
Rising product demand from various industries, such as oil & gas, healthcare, and manufacturing, owing to stringent government regulations related to workplace safety is estimated to fuel market growth over the forecast period.
The growth was sluggish owing to a lack of demand from the industrial sector during the COVID-19 crisis. Government-imposed restrictions caused temporary closure across a wide range of industries, which resulted in limiting market growth.
Gather more insights about the market drivers, restrains and growth of the Aramid Fiber Market
Aramid fibers are strong synthetic and heat-resistant fibers. Owing to their advantageous properties, these fibers are widely utilized in military and aerospace applications for ballistic-grade body armor fabric. Aramid fiber neither ignites nor melts in normal levels of oxygen owing to its excellent flame & heat resistance. Aramid fibers are used as a substitute for metal wire as well as organic fiber for structural composite applications in ropes for oil rigs in offshore sites, marine and aerospace sectors, automobiles, and bulletproof vests as these possess higher mechanical properties (5% to 10%) with respect to other synthetic fibers.
Aramid fiber industry continues to develop and manufacture synthetic fibers for new technologies and as a replacement for asbestos, carcinogenic, and toxic fiber. Aramid fiber imparts strength and wear resistance to asbestos-free friction materials. It enables the selection of inert fillers based on thermal and wear characteristics with fewer concerns regarding other physical properties of the filler. As a reinforcing fiber, asbestos is strong and can withstand chemical and high-temperature attacks. Furthermore, it is relatively cheaper as compared to several other materials. However, it is a hazardous substance when used for various applications.
Aramid fibers are widely utilized in two types of applications, namely reinforcement in composites like military vehicles, sports goods, & aircraft and fabrics in clothing, such as bulletproof vests or fire protection clothes. Aramid fiber is extensively utilized in various application segments, such as protective gloves, sailcloth, flame & cut resistant clothing, snowboards, helmets, filament wound pressure vessels, body armor, optical fiber cable systems, ropes & cables, reinforcement for tires & rubber goods, tennis strings & hockey sticks, jet engine enclosures, asbestos replacement, and circuit board reinforcement.
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- The global synthetic fibers market size was valued at USD 66.11 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030.
- The global adhesives and sealants market size was estimated at USD 121.27 billion in 2023 and is projected to grow at a CAGR of 10.1% from 2024 to 2030.
Aramid Fiber Market Segmentation
Grand View Research has segmented the global aramid fiber market on the basis of on product, application, and region:
Aramid Fibers Product Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)
- Para-aramid
- Meta-aramid
Aramid Fibers Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)
- Security & Protection
- Frictional Materials
- Rubber Reinforcement
- Optical Fibers
- Tire Reinforcement
- Electrical Insulation
- Aerospace
- Others
Aramid Fibers Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Asia Pacific
- China
- Japan
- India
- South Korea
- Central & South America
- Brazil
- Middle East & Africa
Key Companies profiled:
- Teijin Ltd.
- Yantai Tayho Advanced Materials Co.
- E. I. du Pont de Nemours and Company (DowDuPont)
- Hyosung Corp.
- Toray Chemicals South Korea, Inc.
- Kermel S.A
- Kolon Industries, Inc.
- Huvis Corp.
- China National Bluestar (Group) Co., Ltd.
- SRO Aramid (Jiangzu) Co., Ltd.
Key Aramid Fiber Company Insights
Key players use strategies, such as joint ventures, technical collaboration, capacity expansion, mergers & acquisitions to gain a stronger market position. In addition, manufacturers are also engaged in developing cost-effective and high-quality production. Yantai Tayho Advanced Materials Co., a manufacturer of aramid fiber operating in China, invested USD 89 million in July 2018 to expand its para-aramid manufacturing facility in China. The strategic initiative adopted by the company helped strengthen its market position in China as well as across the globe.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.