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Opportunities For Global Para Aramid Fiber Market To Reach $3.9 Billion By 2024
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
– Bullet Proof Vest
– Bullet Proof Vehicles
– Combat Helmet
• Electrical Transmission
– Optical Fiber
• Safety Garments
– Fire Fighting Garments
• Rubber Reinforcement
– Conveyor Belt
• Tire Reinforcement
• Oil and Gas
By Product Form (million pounds and $ million shipment analysis from 2013 to 2024):
• Filament Yarn
• Short Fibers
By Region (million pounds and $ million shipment analysis from 2013 to 2024):
• The America
• 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 email@example.com. Lucintel offerings include advanced materials reports, composite materials market report, strategic growth consulting, market research due diligence and business strategy consulting.
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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