Body Armor Segment To Is Expected To Take Centre Stage In The Global Aramid Fibers Market

https://www.coherentmarketinsights.com/market-insight/aramid-fibers-market-5406
Aramid Fibers Market



Market Overview:

Aramid fibers are synthetic fibers known for their high strength and heat resistance. They are used in various ballistic-rated applications such as body armors, helmets and vehicle armors due to their high tensile strength and resistance to abrasion.

Market key trends:
One of the key trends driving the growth of the aramid fibers market is the increasing demand from the defense sector for manufacturing body armors and helmets. Aramid fibers are majorly used in manufacturing body armors owing to their high strength-to-weight ratio and ability to stop bullets. With rising global military spending and increasing threats of terrorist activities, the demand for advanced protective gears from defense sector is growing significantly. This is expected to boost the consumption of aramid fibers over the forecast period.

The global Aramid Fibers Market Share is estimated to be valued at US$ 4447.55 Mn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights

Segment Analysis
The global aramid fibers market is segmented into meta-aramid fibers and para-aramid fibers. The para-aramid fibers segment dominated the market in 2022 and is expected to continue its dominance over the forecast period. Para-aramid fibers are widely used in bulletproof vests, protective gears, and fire suits owing to their excellent strength, stiffness, and heat resistance properties. They can withstand temperatures ranging from 250°C to 550°C without any loss in tensile strength.

Key Takeaways
The global aramid fibers market size was valued at US$ 4,447.55 million in 2023. It is expected to witness high growth, exhibiting a CAGR of 3.8% over the forecast period. The growing demand from the automotive, aerospace, and ballistic industries is driving the market.

Asia Pacific dominated the market with around 35% share in 2023 due to high demand from countries like China and India. The region is estimated to be the fastest growing market over the forecast period, owing to the presence of emerging economies and expanding end-use industries in countries such as China, India, Indonesia, and Thailand.

Key players operating in the aramid fibers market are China National Bluestar (Group) Co. Ltd, DuPont, Hebei Silicon Valley Chemical Co Ltd, Huvis, Hyosung, Kermel, Kolon Industries Inc., Shenma Industrial Co. Ltd, Sinopec Yizheng Chemical Fibre Limited Liability Company, Suzhou Zhaoda Specially Fiber Technical Co.,Ltd., Teijin Limited, Toray Industries Inc., Wuxi, Heshengyuan Carbon Fiber Technology Co. Ltd, X-FIPER New Material Co. Ltd, Xiamen Chao Yu Environmental Protection Technology Co. Ltd, and Yantai Tayho Advanced Materials Co. Ltd.

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