Aramid Fiber Market Predicted To Reach XX Million By 2025
According to a new report published by Reports Monitor titled, “Aramid Fiber Market by Type, Application and End-User: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the Aramid Fiber Market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. Europe is dominating market accounts for highest share of the market and is anticipated to maintain this trend throughout the forecast period.
During last decades, there is a significant increase in the demand for the durable and high quality of products. Aramid fibers are synthetic fibers prepared by reaction between carboxylic acid halide group and amine group and possess strong hydrogen bond that efficiently transfers mechanical stress enabling use of chains of relatively low molecular weight. Aramid fibers exhibit typical enchanted features such as upgraded performance, heat resistant, increased resistance to abrasion, organic solvent, non-melting, non-conductive, enhanced fabric integrity at high temperature and greater strength. These aramid fibers have explored broad spectrum applicability in variety of end-use sectors including military defence, automotive, composites, aerospace, ballistics, protective clothing against radiation, heat or chemicals, and others. Along with use in manufacturing of rubbers and tires they even fill as substitute to asbestos material and serve as optical fiber cables in telecommunication.
Rising requirement for security and defensive measure and expanding assembling of ballistic scope, such as, bulletproof armours, law enforcement vest, and vehicle reinforcement in military drives the worldwide aramid fiber market. Expanding consumption on defence, quick improvement and mechanical advances in transportation, drive for higher fuel productivity and being potential substitute for asbestos and steel empowers the aramid fiber market globally. Moreover, headway in aviation ventures and quickly developing Gross domestic product in rising nations will fuel the development of the market. Nonetheless, High manufacturing cost, requirement for huge amount in innovative work and non-biodegradable nature of the material might slowdown the development of the market. Blossoming expenses in defence, appropriation of cutting edge aramid materials and developing need from automotive and aviation sector give lucrative opportunities to market players to expand the business.
Key Question Answered: • What will the market growth rate, Overview and Analysis of Global aramid fiber Market over the forecast period from 2017 to 2025? • What are the key factors driving the growth of the market, Analysis by Applications and Countries engaged in Global aramid fiber Market? • What are the Opportunities, trends, Risk and threats Faced by the vendors in Global aramid fiber Market? • What are the challenges to encounter by key vendors in the global aramid fiber market growth? • Deep analysis of top key players in the market and what are their strategies to expand aramid fiber market globally? • What is the trending factors influencing the market shares of the Americas, APAC, and EMEA? • Macroeconomic factors affecting the growth of the aramid fiber market and what are the key outcomes of the five forces analysis of the global aramid fiber market?
Major Key players included in the report are: Teijin Ltd., Yantai Tayho Advanced Materials Co., Toray Chemicals South Korea Inc., Hyosung Corp., Kolon Industries Inc. Huvis Corp., Kermel, SRO Aramid (Jiangzu) Co. Ltd. and China National Bluestar (Group) Co. Ltd.
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