Aramid Fiber Reinforcement Materials Market by Type (Para-Aramid Fibers, Meta-Aramid Fibers, and Others), by End Use (Aerospace & Defense, Automotive, Consumer Goods, Marine, and Others)- Global Opportunity Analysis and Industry Forecast, 2020 – 20

"Market Definition:
The Global Aramid Fiber Reinforcement Materials Market was valued at USD 3.73 billion in 2019, and is estimated to garner USD 7.83 billion by 2030, expanding at a CAGR of 6.7% during the forecast period, from 2020 to 2030.
Aramid fiber reinforced materials are a class of heat-resistant, strong synthetic fibers made from a polymer matrix reinforced with aramid fibers, having extremely high melting point of more than 500°C. Such fiber has characteristics such as high temperature resistance, high elastic modulus, high abrasion resistance, and high tensile strength. It has wide applications in industries such as aerospace & defense, automotive, consumer goods, and marine. In the defense sector, the fiber is majorly used to make body armor fabrics or bullet-proof vests and other ballistic composites.
Market Dynamics and Trends
The expansion of the global aramid fiber reinforcement materials market is attributed to the growing demand from aerospace & defense sector, rising safety & security concerns, stringent regulatory standards regarding workplace safety, high inclination towards lightweight materials to decrease energy consumption, and increasing operational efficiency of finished goods.
Also, other benefits offered by the aramid fiber reinforcement materials such flame and heat resistance, low creep, thermal dimensional stability, and high strength are anticipated to propel the adoption of aramid fiber reinforcement materials market.
However, non-bio degradable nature of aramid fiber, high sensitivity to ultra-violet radiations and humidity, high production cost, capital investments, and fluctuating prices of raw-materials are expected to inhibit the market expansion. However, investment in the development of innovative technology that decreases manufacturing costs and increase operational efficiency are expected to create opportunities in the market during the forecast period.
Market Segmentations and Scope of the Study:
The global aramid fiber reinforcement materials market is segmented based on type, end use industry, and geography. On the basis of type, the market is segregated into para-aramid fibers, meta-aramid fibers, and others. In terms of end use, the market is divided into aerospace & defense, automotive, consumer goods, marine, and others. Based on geography, the global aramid fiber reinforcement materials market is fragmented into North America, Asia-Pacific, Europe, and Rest of the World (RoW).
Geographical Analysis
North America dominated the global aramid fiber reinforcement materials market in 2019, and this trend is expected to continue during the forecast period due to the rising investments in the defence sector, rising number of refurbishment activities, presence of key market players in this region, and growing demand for these materials in the transportation and protective clothing industries.
The market in Asia-Pacific is expected to grow at a rapid pace owing to the presence of developing economies, increase in urbanization, growing demand for Internet of Things (IoT) and telecommunication in the region. Also, developments in sectors such as automotive, electronics, and aviation is fuelling the demand for aramid fiber in the region.

Competitive Landscape

Players in the aramid fiber reinforcement materials market include E. I. du Pont de Nemours and Company, Kolon Industries, Inc., Teijin Ltd., Honeywell International Inc., Hyosung Corporation, Toray Industries, Inc., SRO Aramid (Jiangsu) Co., Ltd., Yantai Tayho Advanced materials Co., Ltd., Huvis Corporation, and Ibiden Co., Ltd.

KEY MARKET SEGMENTS:
• Global Aramid Fiber Reinforcement Materials Market –

By Type

o Para-aramid Fibers
o Meta-aramid Fibers
o Others
• Global Aramid Fiber Reinforcement Materials Market – By End Use Industry
o Aerospace & Defense
o Automotive
o Consumer Goods
o Marine
o Others
• Global Aramid Fiber Reinforcement Materials Market – By Geography
o North America
 U.S.
 Canada
 Mexico
o Europe
 UK
 Germany
 France
 Turkey
 Russia
 Rest of Europe
o Asia-Pacific
 China
 India
 Japan
 South Korea
 Rest of Asia-Pacific
o RoW
 UAE
 Saudi Arabia
 South Africa
 Brazil
 Remaining Countries

KEY PLAYERS:
• E. I. du Pont de Nemours and Company
• Kolon Industries, Inc.
• Teijin Ltd.
• Honeywell International Inc.
• Hyosung Corporation
• Toray Industries, Inc.
• SRO Aramid (Jiangsu) Co., Ltd.
• Yantai Tayho Advanced materials Co., Ltd.
• Huvis Corporation
• Ibiden Co., Ltd. "