According to a new market report published by
Lucintel, the future of the global para aramid fiber market looks promising
with opportunities in the frictional materials, protection, electrical
transmission, safety garments, rubber reinforcement, tire reinforcement, and
oil and gas industries. The global para aramid fiber market is expected to
reach an estimated $3.9 billion by 2024 with
a CAGR of 7.4% from 2019 to 2024. The major drivers for this market are 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.
In this market, various product forms of para
aramid fiber, such as filament yarn, short fibers, and pulp fiber are used in
wide range of industries. On the basis of comprehensive research, Lucintel forecasts that the filament
yarn will remain the largest segment
by value and it is also expected to witness the highest growth over the
forecast period due to increasing demand for protective clothing in the
military and stringent regulations in Europe and North America regarding
employee health and safety.
Within para aramid fiber market, frictional materials will remain the
largest application by value due to growing penetration of para aramid
fiber in brake pads and gasket as an alternative material to asbestos in
automotive industry. Optical
fiber is expected to witness the highest growth over the forecast period due to
increasing demand for high bandwidth fiber optic cables for data services and
communication.
Europe will remain the largest region and it
is also expected to witness the highest growth
over the forecast period due to increasing automotive production, growth
in aerospace industry, and stringent government regulation on industrial safety
and protection.
An emerging trend, which has a direct impact
on the dynamics of the industry, includes development of new para aramid fabric
which protects structures from airborne volcanic fragments. Teijin, DuPont,
Kolon, Hyosung, and Yantai Tayho are among the leading suppliers of global para
aramid fiber market.
Lucintel, a leading global strategic
consulting and market research firm, has analyzed growth opportunities in the
global para aramid fiber market by application, product form, and region, and has come up with a
comprehensive research report “Growth
Opportunities in Global Para Aramid Fiber Market 2019-2024: Trends, Forecast,
and Opportunity Analysis.” The Lucintel report serves as a catalyst for
growth strategy as it provides a comprehensive data and analysis on trends, key
drivers, and directions. The study includes market trends and forecasts for the
global para aramid fiber market segmented by application, product form, and region
as follows:
By Application (million pounds and $ million shipment analysis from
2013 to 2024):
·
Frictional Materials
– Brake
Pad
– Gasket
·
Protection
– Bullet
Proof Vest
– Bullet
Proof Vehicles
– Combat
Helmet
·
Electrical Transmission
– Optical
Fiber
– Others
·
Safety Garments
– Gloves
– Fire
Fighting Garments
·
Rubber Reinforcement
– Conveyor
Belt
– Others
·
Tire Reinforcement
·
Oil and Gas
·
Others
By Product Form (million
pounds and $ million shipment analysis from 2013 to 2024):
- Filament Yarn
- Short Fibers
- Pulp
- Others
By Region (million pounds
and $ million shipment analysis from 2013 to 2024):
- The America
- Europe
- Asia Pacific
- Rest of World
This
200 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, strategic growth consulting, market research due diligence and business strategy consulting.
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 in the global 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) and why?
Q.2.Which
application 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 market and how great of 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 how
have they affected the industry?
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