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)
·
Others
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):
·
Automotive
·
Aerospace
·
Protective Clothing
·
Electronics and Telecommunication
·
Others
By region (Value ($M) and Volume (M lbs) shipment
analysis for 2010 – 2021):
·
North America
·
Europe
·
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 helpdesk@lucintel.com. Lucintel offerings
include Advanced
Materials Reports, Composite
Materials Market Report, Capital
Investment Analysis, Strategic
Growth Consulting and Due Diligence.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
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?
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