Aramid Fiber Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Aramid Fiber Market Introduction
The word aramid is the blend of words aromatic and polyamide. Aramid fiber is the strong and heat-resistant synthetic fiber used extensively in military and aerospace applications for ballistic composites and ballistic rated body armor fabric. Aramid fiber has good resistance to solvents, abrasion, has low flammability, it is sensitive to UV radiation, acids and salts, and offers excellent chemical and physical properties at high temperatures.
Aramid fiber is used in protective wear owing to the high resistant properties and outstanding strength-to-weight ratio. Apart from military, the largest section using aramid fiber is protection and security including private contractors, municipal law enforcement, and private security.
Aramid Fiber Market: Notable Highlights
Some of the most prominent competitors operating in the competitive landscape of global aramid fiber market include –
Aramid Fiber Market Dynamics
Increasing Demand for Lightweight Materials in Security & Protection
In recent years, there has been an increase in government expenditure in defense, aerospace, and security industry owing to the rising political unrest worldwide, which is driving the demand for aramid fiber. Owing to the low density, high strength, and ability to withstand high temperatures, aramid fiber is gaining traction in defense and personal protection equipment. Key players in the aerospace and defense sector are focusing on using lightweight materials. With the highest carbon footprint, the aerospace industry is focusing on lowering the emission by saving any weight, hence, the predominant focus is on advanced lightweight materials.
Companies providing materials for defense and security are focusing on using novel materials including fibers that are lightweight, and also helps in improving stiffness and strength in the end-use product.
Need for New Materials Offering Significant Reduction in Vehicle Emission
The automotive industry is constantly focusing on replacing materials such as iron, aluminum, and steel with new components made using fiber reinforced composites. Hence, the demand for aramid fiber is likely to increase in the automotive sector owing to its lightweight, low energy consumption, coupled with flexibility, long lifecycle, and better safety. Automotive manufacturers are also focusing on design modifications, however, structural weight reduction is a high priority among automotive manufacturers to reduce emission and lower fuel consumption.
High Cost of Aramid Fiber to Remain Longstanding Challenge
Despite offering various benefits in security, protection gear, and defense sector, the high cost of aramid fiber and availability of alternative materials fiber or ceramic glass are emerging as the primary restricting factors in the aramid fiber market. Moreover, the production of aramid fiber is restricted among a few key players in the market as the fiber is expensive and difficult to manufacture.
Researchers and manufacturers of materials for defense and security are focusing on developing novel materials offering stiffness, toughness, reduced weight and yet be possible to produce in large quantities at reasonable cost. Moreover, the high cost of aramid fiber can be easily justified by its use in high-end vehicles and performance advantages over other materials.
Aramid Fiber Market Segmentation
Based on the product type, the aramid fiber market is segmented into
On the Basis of Application, the aramid fiber market is segmented into
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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