Aramid fibers are specific type of man-made fibers whose molecules are characterized by relatively rigid polymer chains. Molecules are held together by strong hydrogen bonds, which transfer mechanical strength efficiently at a low molecular weight. These fibers have excellent abrasion resistance, high strength, good resistance to organic solvents, no melting points, non-conductivity, low flammability, and good fabric integrity at high temperatures. Aramid fibers are often used as a substitute for asbestos in friction and sealing products. The product is also used as reinforcement in friction products for instance brake linings and clutch discs. In addition, they are also used in high pressure/temperature hoses, gaskets and seals. This is projected to benefit the market growth throughout the forecast period.
As per analysis, “Global Aramid Fiber Composites Market Research Report 2021 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2027” some of the renowned key companies operating in the global aramid fiber composites market include JSC Kamenskvolokno, DuPont, TAYHO, Hyosung, Zhaoda Specially Fiber, Bluestar, Guangdong Charming, Hebei Silicon Valley Chemical, Kolon, Huvis, Sinopec Yizheng Chemical Fibre, SRO and among others.
Based on type, aramid fiber composites market can be segregated as para-aramid-fibers and meta-aramid-fibers. Para-aramid segment dominates the global market owing to increase in applications such as military and aerospace & defense. Additionally, para-aramid segment is expected to witness higher growth rate due to increase in penetration of honeycomb panel-based composites structure in the automotive and aerospace & defense industry during the forecast period. In addition, based on application, market can be segregated as high strength rope, sports material, aerospace materials, body armor & helmet, tire, and others.
The Global Aramid Fiber Composites Market is driven by increase in need for lightweight materials offering significant emission reduction in vehicles, followed by rise in demand for lightweight materials in security & protection applications, robust growth in the telecom industry, increase in defense spending by many countries and potential substitute for steel & asbestos. Apart from this, barriers for new entrants and high research & development (R&D) costs may impact the market. Moreover, advancements in aramid materials manufacturing technology and rise in demand for homeland security & higher defense spending are leading opportunities for market. Furthermore, high cost of production is a key trend for global market.
Based on regional analysis, the North-America and Europe regions hold major share in global aramid fiber composites market owing to rapid industrialization, growth in infrastructure development and strict safety regulations within industries like oil & gas, construction, aluminum and steel across the region. The Asia-Pacific region is estimated to witness higher growth rate due to increase in employment of security & protection measures across various industries over the forecast period. The increase in military spending in large economies such as China and India, due to growing geopolitical tensions, is likely to provide an opportunity for production growth. In addition, increased investment in construction, manufacturing and healthcare is expected to increase demand for products over the forecast period. It is projected that future of the global aramid fiber composites market will be bright on account of rise in demand from aerospace sector coupled with increase in warfare & mounting security during the forecast period.
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Ankur Gupta, Head Marketing & Communications