Aramid Fiber Market Segmentation and Analysis by Recent Trends and Development 2027

Posted on 2021-12-07 by researchinsights in Chemicals // 0 Comments

San Jose, California , USA, Dec 07, 2021 — /EPR Network/ —

The Aramid Fiber Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.

Market Insights

The global aramid fiber market size is projected to touch USD 6.8 billion by the end of 2027, as per the report released by Million Insights. It is projected to ascend with a CAGR of 8.2% from 2020 to 2027.Excellent properties such as high strength, superior resistance to chemical and heat, and stability of aramid fiber are predicted to bode well for the market growth over the estimated duration.

Request a Sample Copy of Aramid Fiber Market Report @ https://www.millioninsights.com/industry-reports/aramid-fiber-market/request-sample

Growing requirements for protection and security measures across several industries such as oil & gas, mining, building & construction, and medical/healthcare are expected to drive the product demand in the upcoming years. Moreover, strict norms in developing nations such as India and China related to workplace safety are also anticipated to accelerate the growth of the aramid fibers market over the estimated duration.

Aramid fibers are extensively preferred over organic fiber and metal wires in various composite applications in the marine and aerospace segment, and oil rigs in offshore activities. Further, various benefits of the product such as tear on drums, non-aggressive wear and fade and discs resistance is projected to drive the product usage.

The production process requires numerous expensive chemicals, which increases the overall production cost. Further, high capital investment in the manufacturing process and machinery is predicted to plummet the market growth over the estimated period. However, the introduction of cost-effective manufacturing facilities is projected to support market growth in the upcoming years.

Asia Pacific is valued at USD 811.4 million in 2019 and is predicted to foresee noticeable growth from 2020 to 2027. Factors such as increasing preference for security, growing penetration of the internet, and expansion of the telecom industry are expected to fuel the market growth over the estimated duration. Further, increasing spending on military and defense due to rising geopolitical tensions in emerging nations such as India and China are also expected to accelerate the product demand. North America is projected to expand with a revenue-based CAGR of 8.8% from 2020 to 2027 and touch USD 2.1 billion by the end of 2027.

Access Aramid Fiber Market Report with TOC @ https://www.millioninsights.com/industry-reports/aramid-fiber-market

Aramid Fiber Product Outlook (Volume, Tons; Revenue, USD Million, 2016 – 2027)

Para-aramid
Meta-aramid

Aramid Fiber Application Outlook (Volume, Tons; Revenue, USD Million, 2016 – 2027)

Security & Protection
Frictional Materials
Rubber Reinforcement
Optical Fibers
Tire Reinforcement
Electrical Insulation
Aerospace
Others

Visit Our Blog: https://marketreportsassistance.wordpress.com

Get in touch

At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.

Matched content

Editor’s pick