According to a new market report published by Lucintel, the future of the global aramid fiber market looks bright, with opportunities in the aerospace, automotive, protective clothing, electronics and telecommunication. The global aramid fiber market is expected to reach an estimated $3.8 billion by 2021 and it is forecast to grow at a CAGR of 6.2% from 2016 to 2021. The major drivers of growth for this market are increasing usage of aramid fiber in brake pads, clutches, gaskets, linings, and tires in automotive and the growing demand for protective clothing from defense and industrial sectors.
In this market, aerospace, automotive, electronics and telecommunication, protective clothing and others are the major end use industries. On the basis of its comprehensive research, Lucintel forecasts that the segments of aerospace and protective clothing are expected to show above average growth during the forecast period of 2016 to 2021.
Within the global aramid fiber market, safety and protection, friction material, rubber reinforcement, and electrical transmission are the major applications. The safety and protection application is expected to remain the largest market by value and volume consumption. This is due to growth in demand for protective clothing from the military personnel and stringent regulations in Europe and North America regarding employee health and safety, which would spur growth for this segment over the forecast period.
By product type, para and meta-aramid fiber are the major segments. The meta-aramid fiber market is expected to witness above average growth over the forecast period. Meta-aramid fiber offers high heat resistance and great abrasion resistance, which make it a popular choice for electrical insulation and fire resistant clothing.
North America is expected to remain the largest region due to increasing government investments in safety and protection applications and significant growth in the automotive and aerospace industry.
Asia Pacific is expected to witness above average growth over the forecast period because of the increasing demand for optical fiber and cables and growing automotive production, especially in China and India.
For business expansion, the report suggests innovation and new product development to produce high-performance aramid fiber. The report further suggests the development of partnerships with customers to create win-win situations and the development of low-cost solutions for customers.
The major emerging trend, which has a direct impact on the dynamics of the industry, is the increasing penetration of aramid fiber in head protection applications. Teijin Aramid, Dupont, Kolon Industries, Yantai Tayho Advanced Materials Co. Ltd., and Hyosung Corporation are among the major suppliers of the aramid fiber market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global aramid fiber market by application, product type, by end use industry, and region, and has complied a comprehensive research report entitled “Growth Opportunities in the Global Aramid Fiber Market 2016-2021: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a springboard for growth strategy because it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global aramid fiber market by application, product type, by end user, and region, as follows:
By application type (Value ($M) and Volume (M lbs) shipment analysis for 2010 – 2021):
• Safety and Protection
• Frictional Material
• Rubber Reinforcement
• Electrical Transmission (Optical Fiber)
By product type (Value ($M) and Volume (M lbs) shipment analysis for 2010 – 2021):
• Para Aramid Fiber
• Meta Aramid Fiber
By end use industry (Value ($M) and Volume (M lbs) shipment analysis for 2010 – 2021):
• Protective Clothing
• Electronics and Telecommunication
By region (Value ($M) and Volume (M lbs) shipment analysis for 2010 – 2021):
• North America
• Asia Pacific
• The Rest of the World
This 144-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email@example.com. Lucintel offerings include Advanced Materials Reports, Composite Materials Market Report, Capital Investment Analysis, Strategic Growth Consulting and Due Diligence.
This report answers the following 11 key questions:
Q. 1. What are some of the most promising, high-growth segments in the global aramid fiber market by product type (para and meta aramid fiber), application (safety and protection, frictional material, rubber reinforcement, electrical transmission, and others), end use industry (aerospace, automotive, electronics and telecommunication, protective clothing, and others), and region (North America, Europe, Asia Pacific and the Rest of the World)?
Q. 2.Which product segments will grow at a faster pace and why?
Q. 3.Which region will grow at a faster pace and why?
Q.4.What are the key factors affecting market dynamics? What are the drivers and challenges in the market?
Q.5.What are the business risks and competitive threats in this market?
Q.6.What are emerging trends in this market and reasons behind them?
Q.7.What are some changing demands of customers in the market?
Q.8.What are the new developments in the market and which companies are leading these developments?
Q.9.Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10. What are some of the competitive products in this area and how great a threat do they pose for loss of market share through product substitution?
Q. 11. What M & A activities have transpired in the last 5 years in this market and what impact have these activities had on the industry?