New York, May 27, 2024 (GLOBE NEWSWIRE) -- Overview:
The Para-aramid Fibers Market size reached USD 3.5 billion in 2023 and is further anticipated to reach USD 5.8 billion by 2033 according to Dimension Market Research. The market is anticipated to register a CAGR of 5.1% from 2024 to 2033.
Para-aramid fibers are like advanced synthetics known for their exceptional strength and heat resistance and are comprised of long-chain aromatic polyamide molecules, granting them distinctive properties. Their high demand across industries looking for lightweight and strong materials is driving the market growth, driven by investments in R&D. The automotive sector mainly embraces these fibers for body panels, while sports and leisure industries drive the need for sporting goods.
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Filament yarn stands out as the preferred choice in the para-aramid fibers market and is expected to maintain its dominant share in 2024 and beyond. Its superior strength-to-weight ratio, shape stability, and resistance to heat, flames, and chemicals render it ideal for diverse applications like filters, belts, protective clothing, and tapes, driving its high demand.
Important Insights
- The Para-aramid Fibers Market is expected to grow by USD 1.9 billion by 2033 from 2025 with a CAGR of 5.1%.
- Filament yarn leads the para-aramid fibers market, expected to sustain its dominance due to superior properties, driving demand across various applications.
- Para-aramid fibers find applications in many sectors like security & protection, where they are set to lead the market due to increasing global conflicts and stringent regulations emphasizing safety.
- North America is set to lead in the para-aramid fiber market with a 50.8% market share in 2024, led by key manufacturers like Corning Incorporated & DuPont, which contrasts with Asia Pacific's rapid industrialization and growing demand.
Global Para-aramid Fibers Market: Trends
- Sustainability Focus: Switch towards eco-friendly production methods and materials.
- Integration with Advanced Technologies: Integrating into smart textiles and composites is also a major trend for the market.
- Increased Demand for Protective Gear: Driven by global security concerns & industrial safety regulations.
- Research and Development: Constant efforts to improve fiber properties and explore new applications.
Para-aramid Fibers Market: Competitive Landscape
Key players in the para-aramid fibers market maintain dominance through advanced research, strategic collaborations, product innovations, and mergers. Using robust manufacturing capabilities and large distribution networks, they meet defense, automotive, aerospace, and industrial sectors. Also, new players and startups target specialized applications and sustainability, contributing to intense competition that drives continuous advancements in para-aramid fiber technology, and shaping a dynamic market landscape.
Some major players in the market include China National Bluestar (Group) Co. Ltd, Hebei Silicon Valley Chemical Co. Ltd, DuPont, HYOSUNG, KERMEL, Kolon Industries Inc., Shenma Industrial Co. Ltd., and more.
Some of the prominent market players:
- China National Bluestar (Group) Co. Ltd.
- Hebei Silicon Valley Chemical Co. Ltd.
- DuPont
- HYOSUNG
- KERMEL
- Kolon Industries Inc.
- Shenma Industrial Co. Ltd.
- Huvis
- TORAY INDUSTRIES INC.
- TEIJIN LIMITED
- X-FIPER New Material Co. Ltd.
- Other Key Players
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Para-aramid Fibers Market Scope
| Report Highlights | Details |
| Market Size (2023) | USD 3.7 Bn |
| Forecast Value (2032) | USD 5.8 Bn |
| CAGR (2023-2032) | 5.1% |
| Leading Region in terms of Revenue Share | North America |
| Percentage of Revenue Share by Leading Region | 50.8% |
| Historical Data | 2018 - 2023 |
| Forecast Data | 2025 – 2032 |
| Base Year | 2023 |
| Estimate Year | 2024 |
| Segments Covered | By Product, By Application |
| Regional Coverage | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Segment Analysis:
In terms of application, the para-aramid fibers market includes frictional materials, security & protection, electrical transmission, rubber reinforcement, tire reinforcement, oil & gas, and other sectors, where security & protection are expected to lead the market in 2024 by generating the highest global revenue share. Escalating global conflicts has higher the need for better safety measures, mainly for military personnel, driving the need for advanced weaponry and Personal Protective Equipment (PPE). Aramid fibers are highly used in various safety and protection applications, like military, law enforcement, private security, and government projects, spurred by stringent regulations focusing on employee health and safety, particularly in European and North American regions.
Para-aramid Fibers Market Segmentation
By Product
- Filament Yarn
- Short Fibers
- Pulp
- Others
By Application
- Frictional Materials
- Security & Protection
- Electrical Transmission
- Rubber Reinforcement
- Tire Reinforcement
- Oil & Gas
- Others
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Global Para-aramid Fibers Market: Driver
- Rising Demand for Protective Gear: Growing need for high-strength PPE in military, law enforcement, & industrial sectors.
- Advancements in Transportation: Increase in usage of automotive and aerospace for lightweight, high-performance components.
- Technological Innovations: Constant R&D leading to better fiber properties and new applications.
- Expansion in Emerging Markets: Rapid industrialization and infrastructure development driving demand in developing regions.
Global Para-aramid Fibers Market: Restraints
- High Production Costs: Expensive manufacturing processes & raw materials limit broad adoption.
- Environmental and Health Concerns: Adverse impacts and strict regulations related to production and disposal.
- Market Competition: Strong competition from alternative high-performance fibers and materials.
- Limited Awareness and Adoption: Lack of awareness and slow adoption rates in certain regions and industries.
Global Para-aramid Fibers Market: Opportunities
- Expansion in Emerging Markets: Higher demand for protective gear in rapidly developing regions.
- Technological Advancements: Opportunities for innovation & development of new applications.
- Sustainability Initiatives: Rising focus on eco-friendly production methods and materials.
- Integration with Advanced Technologies: Usage in smart textiles and composites, opening new market avenues.
Regional Analysis
North America is set to dominate the global para-aramid fiber market, capturing over 50% share in 2024, due to the presence of key manufacturers like Corning Incorporated & DuPont. These giants excel in crafting high-performance fibers for many applications, strengthening regional demand across many sectors. Also, the Asia Pacific region sees fast industrialization and higher military investments, notably in India & China. Moreover, growing disposable incomes in the region are set to drive the need in the electronics, healthcare, automotive, and communication sectors, which shows a bright future for the para-aramid fibers market in Asia Pacific.
By Region
North America
- The U.S.
- Canada
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
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Recent Developments in the Para-aramid Fibers Market
- January 2024: DuPont and Point Blank Enterprises (PBE) announced an exclusive deal to supply Kevlar EXO aramid fiber body armor to North American law enforcement..
- August 2023: Uplift360, supported by DASA funding, developed an eco-friendly process to recycle waste para-aramid fibers into high-performance materials for body armor.
- April 2023: DuPont launched Kevlar EXO aramid fiber, marking a major innovation in over 50 years, designed to meet demanding performance and protection needs.
- September 2022: Mussel Polymers Inc. launched the successful coating of carbon and aramid fibers with its bio-inspired poly(catechol-styrene) polymer, advancing lighter, stronger fiber-reinforced composites.
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