According to the recent study the para aramid fiber market is projected to reach an estimated $3.8 billion by 2028 from $2.7 billion in 2022, at a CAGR of 6.1% from 2022 to 2028. Growth in this market is primarily driven by increasing usage of para aramid fiber in brake pads, clutches, gaskets, linings, and tires in automotive and the growing demand for protective clothing in defense and industrial sectors.
Browse 115 figures / charts and 112 tables in this 200 -page report to understand trends, opportunities and forecast in para aramid fiber market by application (frictional materials, protection, electrical transmission, safety, rubber reinforcement, tire reinforcement, oil and gas and others), product form (filament yarn, short fibers, pulp and others) and region (North America, Europe, Asia Pacific and ROW).
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“Protection market is expected to remain the largest segment during the forecast period.”
Based on application, the para aramid fiber market is segmented into frictional materials, protection, electrical transmission, safety, rubber reinforcement, tire reinforcement, oil and gas and others. Lucintel forecasts that the protection market is expected to remain the largest segment due to growing need for protection of military personnel from mine attacks is expected to drive demand for mine-resistant ambush protected automobiles.
“Within the para aramid fiber market, the filament yarn segment is expected to remain the largest product form”
Based on product form the filament yarn segment is expected to witness the highest growth over the forecast period due to the increasing demand for Zigbee in healthcare, protection application to support remote monitoring facilities, and consumer comfort and convenience enhancement.
“Europe will dominate the para aramid fiber market in near future”
Europe is expected to remain the largest region over the forecast period due to increasing automotive production, growth in aerospace industry, and stringent government regulation on industrial safety and protection. APAC is expected to witness highest growth over the forecast period.
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Major players of para aramid fiber market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Tejin Aramid, DuPont, Kolon Industries, Hyosung Corporation, Yantai Tayho Advanced Materials Co. Ltd. are among the major para aramid fiber providers.
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