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The Asia Pacific region is projected to grow at a pace of 6% CAGR, mainly driven by China's aramid fiber market. The future of the global aramid fiber market is bright as it will be served by advanced robotic devices in logistics and warehousing operations that mirror trends set forth within America, such as zero-labor warehouse facilities
NEWARK, Del. , July 19, 2022 /PRNewswire/ -- The global aramid fiber market is set to witness an impressive growth rate of 5.3% over the forecasted years of 2022 to 2032. The global aramid fiber market size is anticipated to reach a valuation of around US$ 6.4 Billion by the end of year 2032 from the current valuation of US$ 3.8 Billion in 2022.
The global aramid fiber market is being driven by the rising necessity for extremely lightweight polymers from the automobile and armed services & defense sectors for a variety of applications. Additionally, the restrictions pertaining to the reduction of carbon emissions force a number of industrial participants to search for substitute reinforced fibers have fueled the growth aramid fiber market growth even more.
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Several industrial protection products is the major application segment of the global aramid fiber market, which is also anticipated to rise positively, thanks to the rising usage of the aromatic polyamides in personal protective gears especially that is resistant to bullets and stabs as well if used in helmets and surgical gloves. The need for protective gears is being fueled by strict safety rules for the workers in sectors including oil and gas, construction, aluminum, and steel, which would be boosting the global aramid fiber market opportunities all over the world.
Owing to its growing demand for several modern-day industrial applications, the para-aramid fiber type is expected to experience the most substantial expansion among all the product types. In contrast, the global aramid fiber market opportunities is anticipated to get constrained by substantial R&D expenses and the non-biodegradability of aramid fibers.
Key Takeaways from Market Study
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Some of the major global aramid fiber market players are Teijin Ltd., Yantai Tayho Advanced Materials Co, E. I. du Pont de Nemours and Company (DowDuPont), Hyosung & Hyosung Corp., Toray Chemicals South Korea, Inc., Kermel S.A., Kolon Industries, Inc., Huvis Corp., China National Bluestar (Group) Co., Ltd., and SRO Aramid (Jiangzu) Co., Ltd. among others.
Recent Developments in the Global Aramid Fiber Market:
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Key Segments Covered in Aramid Fiber Industry Research
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3.5.1. Supply Side Participants and their Roles
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer's
4. Global Aramid Fiber Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Projections, 2022-2032
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About the Chemicals & Materials Division at Future Market Insights
The Chemicals & Materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analysing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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