Aramid Fiber Reinforcement Materials Market - Forecast(2023 - 2028)

Report Code: CMR 57330 Report Format: PDF + Excel
Aramid Fiber Reinforcement Materials Market size is forecast to reach $6 billion by 2025, after growing at a CAGR of 6% during 2020-2025. Aramid fiber has high strength and excellent corrosion resistance owing to its use in various end-use industries like automotive, aerospace, defense, and electronics. Increasing demand for a high-quality product with good durability and strength is driving the growth of aramid fiber reinforcement materials composites market globally. Moreover, increasing road accidents and the need to reduce the weight of vehicle have increased the demand for aramid fiber reinforcement materials in the automotive sector.

Report Coverage
The report: “Aramid Fiber Reinforcement Materials Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Aramid Fiber Reinforcement Materials Industry.

By Type: Meta Aramid, Para Aramid
By End Use: Aerospace and Defense, Automotive, Marine, Sports and Others
By Geography: North America, South America, Europe, APAC and RoW

Key Takeaways
  • Properties such as durability, high tensile strength, flame and chemical resistance of polymer are the major factors driving the growth of aramid fiber reinforcement materials market.
  • Increasing awareness of safety and security among people has also accelerated the growth of the aramid fiber reinforcement materials market.
  • Raising applications of aramid fiber reinforcement materials in optical fiber are likely to aid the growth of market.
  • Rising environmental concerns and non-degradability of aramid fibers acts as a restraint for the growth of market.

Type- Segment Analysis
The Para-aramid segment has the largest share of more than 50% in the aramid fiber reinforcement materials market in 2019. The chemical bonds of para-aramid fibers are aligned in the long direction of fibers. They are used in applications that require high load-bearing capacity, abrasion and solvent resistance, low creep and electrical conductivity. Additionally, exceptional fire-resistant properties of para-aramid fiber reinforcement materials have increased its use in textile industries for making fire protective suits and gloves. 

End Use - Segment Analysis
Based on the application, the aerospace & defense segment holds the largest share of more than 25% in the aramid fiber reinforcement materials market in 2019.  Because of thermally insulating behavior and their ability to withstand extreme pressure, they are widely used in aerospace industries for making exhaust nozzles, compressors, turbine combustors and aerospace missiles. Additionally, aramid fibers are very light which reduces the weight of aircraft and lower the fuel consumption. High impact strength and the ability of aramid fiber to absorb shock and vibrations has resulted its use in defense for making bulletproof jackets.
Coronavirus has badly impacted the aerospace industries. Due to the lockdown industries are being shuttered all around the world. People stuck in their houses resulting in major problems for aerospace industries. All flights are suspended, and manufacturers are facing huge losses. According to Bloomberg news, shares of Boeing Co. fell nearly 6.63% to $ 128.98 on 24 March 2020. The decrease in production and sales of aircrafts has lowered the demand for aramid fiber reinforcement materials and inhibited the growth of market

Geography- Segment Analysis
North America dominated the aramid fiber reinforcement materials market with a share of more than 35% in 2019, followed by the Asia Pacific and Europe. Rapid industrialization coupled with an increase in aeronautical activities has driven the growth of aramid fiber reinforcement materials market. An increase in domestic and international conflicts has accelerated the growth of safety measures for military personnel. Aramid fibers are used for both structural and components applications in aircraft. The increase in exports of aerospace and defense components to other countries such as China, India and Germany has escalated the manufacturing activities in U.S, subsequently augmenting the growth of aramid fiber reinforcement materials market. According to United State Census Bureau, U.S has exported civilian aircrafts, engines, equipment and parts to China of value $10.48 Bn in 2019. Also FAA (Federal Aviation Administration), has forecasted that during 2016-2037, the number of jets in U.S mainline carrier fleet would grow from 4,073 to 5,199. Thus expansion of aerospace and defense industries is propelling the growth of aramid fiber reinforcement materials market in U.S market. 

Drivers – Aramid Fiber Reinforcement Materials Market
  • Growing demand from end use industries 
Increase in demand from various end-use industries for their high impact resistant, high thermal conductivity, shock-absorbent properties has boosted the growth of aramid fiber reinforcement materials market. Due to their exceptional properties than other materials such as steel and aluminum they are widely used in aerospace and automotive industries which further fuels the growth of aramid fiber reinforcement materials market.

  • Increasing Usage of aramid fiber in optical cables
Optical cables are widely used to transmit information at a faster rate. Cables are insulated with aramid fiber reinforcement materials for providing better resistance to extreme temperatures in addition to strength and durability. The need for better connectivity with ease in the transmission is driving the use of optical cables which in turn escalates the growth of aramid fiber reinforcement materials market. Research activities and the introduction of 5G technology are likely to aid the demand of optical cables further boosting the aramid fiber reinforcement materials market.

Challenges – Aramid Fiber Reinforcement Materials Market
  • High Manufacturing and Machining Cost
Production of aramid fiber reinforcement materials is difficult and requires tons of energy which further increases their cost as compared to steel or aluminum. They are made from the condensation reaction of para-phenylened iamine and terephthaloyl (PPD-T) chloride. The rigid rod-like structure makes the fabrication of these polymers difficult by conventional techniques. Due to the decomposition before melting, aramids are produced by wet and dry spinning methods which results in the complex manufacturing process. Thus, complexity in manufacturing process increases their cost which in turn limits its use in high-quality products such as aerospace, defense and automotive only and acts as a restraint for the growth of aramid fiber reinforcement materials market. 

  • Presence of alternative materials such as carbon and glass fiber
Unlike carbon fiber, aramid fiber reinforcement materials absorb moisture and are combined with moisture-resistant materials like epoxy for enhancing the properties. Additionally, the aromatic nature of para-aramid is responsible for oxidative reactions when exposed to ultraviolet rays which results in loss of color and strength of the fiber.  To avoid the direct exposure of UV rays, aramid fibers should be coated. Thus, inferior properties of aramid compared to glass and carbon fiber acts as a restraining factor for the growth of aramid fibers reinforcement materials market.

Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the aramid fiber reinforcement materials market. In 2019, the market of aramid fiber reinforcement materials has been consolidated by the top five players accounting for xx% of the share. Major players in the aramid fiber reinforcement materials market are E. I. Du Pont De Nemours And Company, Honeywell International Inc., Huvis Corporation, Hyosung Corporation, BASF SE, Kolon Industries, Inc., SRO Aramid Co. Ltd., Teijin Limited, Toray Industries, Inc., Yantai Tayho Advanced Material Co. Ltd., China National Bluestar Co. Ltd., among others.

Acquisitions/Technology Launches
  • In December 2018, SGL Group and Fraunhofer IGVC had set up development and manufacturing center for advanced fiber placement technologies in Meitingen. 
  • In October 2017, Teijin’s Aramid Business has completed a new production line at its Technora production facility in Matsuyama, Japan. The expansion has enabled the company to meet the growing market demand for high performance product.
  • In January 2015, Teijin Limited has launched a new type of meta-aramid fiber, Teijinconex neo which offers exceptional heat resistance, as well as excellent dye ability. It has strengthened Teijin’s position and competitiveness in the emerging economies of Asia and other regions.

1. Aramid Fiber Reinforcement Materials Market- Market Overview
    1.1 Definitions and Scope
2. Aramid Fiber Reinforcement Materials Market- Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key Trends by Type
    2.3 Key Trends by End Use
    2.4 Key Trends by Geography
3. Aramid Fiber Reinforcement Materials Market- Landscape
    3.1 Comparative analysis 
        3.1.1 Market Share Analysis- Top Companies
        3.1.2 Product Benchmarking- Top Companies
        3.1.3 Top 5 Financials Analysis
        3.1.4 Patent Analysis- Top Companies
        3.1.5 Pricing Analysis
4. Aramid Fiber Reinforcement Materials Market - Startup companies Scenario Premium (Premium) 
    4.1 Top startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Market Shares
        4.1.4 Market Size and Application Analysis
        4.1.5 Venture Capital and Funding Scenario
5. Aramid Fiber Reinforcement Materials Market– Industry Market Entry Scenario Premium (Premium) 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case studies of successful ventures
    5.4 Customer Analysis - Top companies
6. Aramid Fiber Reinforcement Materials Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Market Opportunities
    6.4 Porters five force model
        6.4.1 Bargaining power of suppliers
        6.4.2 Bargaining powers of customers
        6.4.3 Threat of new entrants
        6.4.4 Rivalry among existing players
        6.4.5 Threat of substitutes 
7. Aramid Fiber Reinforcement Materials Market -Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Market life cycle
    7.4 Suppliers and distributors Analysis
8. Aramid Fiber Reinforcement Materials Market– By Type (Market Size -$Million)
    8.1 Meta-Aramid
    8.2 Para-Aramid
9. Aramid Fiber Reinforcement Materials Market– By End Use (Market Size -$Million)
    9.1 Aerospace and Defense
        9.1.1 Propellers
        9.1.2 Blades
        9.1.3 Engine Nacelles, Cowling & Pylons
        9.1.4 Bulletproof Glass & Jackets
        9.1.5 Tanks
        9.1.6 Others
    9.2 Automotive
        9.2.1 Friction Linings
        9.2.2 Belts and Housing
        9.2.3 Tire cords
        9.2.4 Others
    9.3 Marine
        9.3.1 Hulls
        9.3.2 Bearing & Propellers
        9.3.3 Sonar Domes
        9.3.4 Others
    9.4 Sports
    9.5 Others
10. Aramid Fiber Reinforcement Materials Market - By Geography (Market Size -$Million)
    10.1 North America
        10.1.1 U.S.
        10.1.2 Canada
        10.1.3 Mexico
    10.2 South America
        10.2.1 Brazil
        10.2.2 Argentina
        10.2.3 Colombia
        10.2.4 Chile
        10.2.5 Rest of South America
    10.3 Europe
        10.3.1 U.K
        10.3.2 Germany
        10.3.3 Italy
        10.3.4 France
        10.3.5 Russia
        10.3.6 Spain
        10.3.7 Netherland
        10.3.8 Belgium
        10.3.9 Rest of Europe
    10.4 Asia Pacific
        10.4.1 China
        10.4.2 India
        10.4.3 Japan
        10.4.4 South Korea
        10.4.5 Australia & New Zealand
        10.4.6 Rest of Asia Pacific
    10.5 RoW
        10.5.1 Middle East
            10.5.1.1 Saudi Arabia
            10.5.1.2 UAE
            10.5.1.3 Israel
            10.5.1.4 Rest of Middle East
        10.5.2 Africa
            10.5.2.1 South Africa
            10.5.2.2 Nigeria
            10.5.2.3 Rest of Africa
11. Aramid Fiber Reinforcement Materials Market- Entropy
    11.1 New Product Launches
    11.2 M&A’s, Collaborations, JVs and Partnerships
12. Aramid Fiber Reinforcement Materials Market Share Analysis (Premium)
    12.1 Market Share by Country- Top companies
    12.2 Market Share by Region- Top companies
    12.3 Market Share by type of Product / Product category- Top companies
    12.4 Market Share at global level- Top companies
    12.5 Best Practices for companies
13. Aramid Fiber Reinforcement Materials Market- List of Key Companies by Country (Premium) 
14. Aramid Fiber Reinforcement Materials Market Company Analysis
    14.1 Market Share, Company Revenue, Products, M&A, Developments
    14.2 Company 1
    14.3 Company 2
    14.4 Company 3
    14.5 Company 4
    14.6 Company 5
    14.7 Company 6
    14.8 Company 7
    14.9 Company 8
    14.10 Company 9
    14.11 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global Aramid Fiber Reinforcement Material Market, By Type Market 2019-2024 ($M)
1.1 Para-Aramid Fiber Market 2019-2024 ($M) - Global Industry Research
1.2 Meta-Aramid Fiber Market 2019-2024 ($M) - Global Industry Research
2.Global Aramid Fiber Reinforcement Material Market, By End-Use Industry Market 2019-2024 ($M)
2.1 Aerospace Defense Market 2019-2024 ($M) - Global Industry Research
2.2 Automotive Market 2019-2024 ($M) - Global Industry Research
2.3 Consumer Good Market 2019-2024 ($M) - Global Industry Research
2.4 Marine Market 2019-2024 ($M) - Global Industry Research
3.Global Aramid Fiber Reinforcement Material Market, By Type Market 2019-2024 (Volume/Units)
3.1 Para-Aramid Fiber Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Meta-Aramid Fiber Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Aramid Fiber Reinforcement Material Market, By End-Use Industry Market 2019-2024 (Volume/Units)
4.1 Aerospace Defense Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Automotive Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Consumer Good Market 2019-2024 (Volume/Units) - Global Industry Research
4.4 Marine Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Aramid Fiber Reinforcement Material Market, By Type Market 2019-2024 ($M)
5.1 Para-Aramid Fiber Market 2019-2024 ($M) - Regional Industry Research
5.2 Meta-Aramid Fiber Market 2019-2024 ($M) - Regional Industry Research
6.North America Aramid Fiber Reinforcement Material Market, By End-Use Industry Market 2019-2024 ($M)
6.1 Aerospace Defense Market 2019-2024 ($M) - Regional Industry Research
6.2 Automotive Market 2019-2024 ($M) - Regional Industry Research
6.3 Consumer Good Market 2019-2024 ($M) - Regional Industry Research
6.4 Marine Market 2019-2024 ($M) - Regional Industry Research
7.South America Aramid Fiber Reinforcement Material Market, By Type Market 2019-2024 ($M)
7.1 Para-Aramid Fiber Market 2019-2024 ($M) - Regional Industry Research
7.2 Meta-Aramid Fiber Market 2019-2024 ($M) - Regional Industry Research
8.South America Aramid Fiber Reinforcement Material Market, By End-Use Industry Market 2019-2024 ($M)
8.1 Aerospace Defense Market 2019-2024 ($M) - Regional Industry Research
8.2 Automotive Market 2019-2024 ($M) - Regional Industry Research
8.3 Consumer Good Market 2019-2024 ($M) - Regional Industry Research
8.4 Marine Market 2019-2024 ($M) - Regional Industry Research
9.Europe Aramid Fiber Reinforcement Material Market, By Type Market 2019-2024 ($M)
9.1 Para-Aramid Fiber Market 2019-2024 ($M) - Regional Industry Research
9.2 Meta-Aramid Fiber Market 2019-2024 ($M) - Regional Industry Research
10.Europe Aramid Fiber Reinforcement Material Market, By End-Use Industry Market 2019-2024 ($M)
10.1 Aerospace Defense Market 2019-2024 ($M) - Regional Industry Research
10.2 Automotive Market 2019-2024 ($M) - Regional Industry Research
10.3 Consumer Good Market 2019-2024 ($M) - Regional Industry Research
10.4 Marine Market 2019-2024 ($M) - Regional Industry Research
11.APAC Aramid Fiber Reinforcement Material Market, By Type Market 2019-2024 ($M)
11.1 Para-Aramid Fiber Market 2019-2024 ($M) - Regional Industry Research
11.2 Meta-Aramid Fiber Market 2019-2024 ($M) - Regional Industry Research
12.APAC Aramid Fiber Reinforcement Material Market, By End-Use Industry Market 2019-2024 ($M)
12.1 Aerospace Defense Market 2019-2024 ($M) - Regional Industry Research
12.2 Automotive Market 2019-2024 ($M) - Regional Industry Research
12.3 Consumer Good Market 2019-2024 ($M) - Regional Industry Research
12.4 Marine Market 2019-2024 ($M) - Regional Industry Research
13.MENA Aramid Fiber Reinforcement Material Market, By Type Market 2019-2024 ($M)
13.1 Para-Aramid Fiber Market 2019-2024 ($M) - Regional Industry Research
13.2 Meta-Aramid Fiber Market 2019-2024 ($M) - Regional Industry Research
14.MENA Aramid Fiber Reinforcement Material Market, By End-Use Industry Market 2019-2024 ($M)
14.1 Aerospace Defense Market 2019-2024 ($M) - Regional Industry Research
14.2 Automotive Market 2019-2024 ($M) - Regional Industry Research
14.3 Consumer Good Market 2019-2024 ($M) - Regional Industry Research
14.4 Marine Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
2.Canada Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
3.Mexico Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
4.Brazil Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
5.Argentina Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
6.Peru Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
7.Colombia Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
8.Chile Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
9.Rest of South America Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
10.UK Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
11.Germany Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
12.France Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
13.Italy Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
14.Spain Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
15.Rest of Europe Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
16.China Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
17.India Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
18.Japan Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
19.South Korea Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
20.South Africa Aramid Fiber Reinforcement Materials Market Revenue, 2019-2024 ($M)
21.North America Aramid Fiber Reinforcement Materials By Application
22.South America Aramid Fiber Reinforcement Materials By Application
23.Europe Aramid Fiber Reinforcement Materials By Application
24.APAC Aramid Fiber Reinforcement Materials By Application
25.MENA Aramid Fiber Reinforcement Materials By Application
26.E. I. Du Pont De Nemours And Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Honeywell International Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Huvis Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Hyosung Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Ibiden Co , Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Kolon Industries, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Sro Aramid Co , Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Teijin Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Toray Industries, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Yantai Tayho Advanced Material Co., Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)