Para-aramid Fiber Market is Forecasted to Reach US$ 2.9 Billion in 2034, Says Stratview Research

Stratview Research, a global market research firm has launched a report on the global Para-aramid Fiber Market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Market Statistics:

Market Size in 2024: US$ 2.1 billion

Market Size in 2034: US$ 2.9 billion

Growth (CAGR): 3.1% during 2024-2034

Leading Application Type: Protection & Safety

Leading End-Use Industry: Automotive

Leading Form Type: Filament

Leading Region: North America

Forecast Period: 2024-2034

Trend Period: 2018-2022

Base Year: 2023

Number of Segments Covered: 4

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights on the Para-aramid Fiber Market:

The global Para-aramid Fiber Market is segmented based by application type, end-use industry type, form type & Region 

Based on the application type: The market is segmented into protection & safety, electrical transmission, tire reinforcement, rubber reinforcement, friction materials, and other applications. Protection & safety is likely to remain the widely used application of the market throughout the forecast period. Various industries, including oil & gas, firefighting, and the military, are subject to strict safety and protection regulations, driving the adoption of aramid fibers to offer enhanced protection against hazards such as fire, heat, chemicals, and projectiles.

Based on the end-use industry: The market is segmented into aerospace & defense, automotive, electrical & electronics, oil & gas, and industrial. Automotive is expected to remain the largest market over the next ten years, whereas electrical & electronics are likely to grow at the fastest pace. Aramid fibers possess excellent thermal resistance, making them suitable for applications that require effective heat management. In the electronics industry, where heat dissipation is critical to device performance and longevity, aramid fibers can be utilized in heat sinks, thermal pads, and other thermal management solutions.

Based on the form type: The market is segmented into filament, pulp, staple fiber, and other form types. Filament is expected to maintain an unwavering share in terms of value and volume during the forecast period. The production of aramid filament fibers is well-established, and manufacturers have refined their processes over time. This stability in manufacturing contributes to the consistent availability and supply of filament-based aramid fibers.

To know the most attractive segments, click here for a free sample of the report:

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 Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America region is estimated to remain dominant in the market during the forecast period. This growth outlook is majorly attributed to the following–

• Asia-Pacific is expected to be the fastest-growing region for para-aramid fiber during the forecast period.
• North America has well-established industries that use aramid fibers across various applications, including aerospace & defense, automotive, and safety equipment.
• These industries contribute to a consistent and substantial demand for aramid fibers in the region, and the Asia-Pacific region, particularly countries like China and India, has been experiencing rapid industrialization and economic growth.
• This growth leads to increased demand for materials like aramid fibers in various industries, including automotive, protective clothing, and electronics.

Para-aramid Fiber Market Drivers:

• The increasing demand for lightweight materials with high tensile strength is driving the growth of the para-aramid fiber market. Industries such as aerospace, automotive, and defense require materials that offer a high strength-to-weight ratio, making para-aramid fibers a preferred choice.
• The need for protective clothing and equipment in various industries, including military, law enforcement, firefighting, and industrial work, is also fueling demand.
• Additionally, growing wireless infrastructure revenue, rising tire replacement demand, anticipated recovery in automotive production, a rebound in commercial and regional aircraft deliveries, increased military expenditure, and growing mining production are key factors contributing to the market's long-term growth.

Top 10 Companies in the Para-aramid Fiber Market:

Stratview Research has identified the following companies as the top market players:

• DuPont de Nemours, Inc.
• Teijin Limited
• Kolon Industries, Inc.
• Yantai Tayho Advanced Materials Co.
• Hyosung Corporation
• China National Bluestar (Group) Co., Ltd.
• JSC Kamenskvolokno
• Toray Industries, Inc.
• Sinopec Yizheng Chemical Fibre Co., Ltd.
• TAEKWANG
• Shin-Etsu Chemical Co. Ltd.
• Gelest Inc.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the data center liquid cooling market, answering critical questions like

-       How big is the sales opportunity?

-       Which regions offer the best sales opportunities?

-       Which are the most attractive market segments?

-       Which are the top players and their market positioning?

-       How complex is the business environment?

-       What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

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Stratview Research is a global market research and consulting firm that highly specializes in IT & telecom, aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to make convincing business decisions.

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