Aramid Paper Market size is forecast to reach US$578.9 million by 2026, after growing at a CAGR of 4.9% during 2021-2026. This is owing to the various properties of this material in comparison to other materials such as carbon or fiber glass. It has high tensile strength and flame resistance, hence finds application in protective apparel and ballistic protection as well. The properties of aramid paper including strength, durability, heat resistance and more increase its application across various industries. It is mainly used in electrical insulation systems due to the paper being highly resistant to flame, heat and electricity. The composite structures of aramid paper have application in aerospace and marine industry for building structures. The high flexibility and rigidity of this paper increase its use in such industries. Owning to which its demand is expected to increase during the forecast period.
COVID-19 Impact:
The latest epidemic of COVID-19, however, has had a significant impact on the global Aramid Paper manufacturing sector. Across globe, the production activities have slowed down with the intention of restricting the spread of coronavirus, which affected the production, but the manufacturers are back to normal currently.
Aramid Paper Market Segment Analysis – By Type
The para aramid segment dominated the Aramid Paper market in 2020, and is growing at a CAGR of 4.6% during forecast period 2021-2026. This is because of its high application in aerospace and military industries. Para aramid material exhibits improved performance characteristics over meta aramid in areas of weight, strength, stiffness and fatigue. Thus, it’s estimated to witness growth during the forecast period owing to its increasing application in aerospace and military industries. Kevlar, a brand by DuPont is a famous para aramid paper product and is used in various industries.
Aramid Paper Market Segment Analysis – By Raw Material
Short-cut fibers segment dominated the Aramid Paper market in 2020 and is forecasted to grow at a CAGR of 5.2% during the forecast period. Short –Cut fibers are mostly used in the making of the aramid paper owing to the application requirements. Twaron short cut fibers are produced by cutting the continuous filament yarns to specified lengths ranging between 0.25mm and 12mm. Degree of orientation of the short fibers has a great impact on the mechanical strength of the aramid insulating papers. Therefore, owning to these benefits it used more in the aramid paper production.
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Aramid Paper Market Segment Analysis – By End Use Industry
Aerospace sector dominated the Aramid Paper market in 2020 and is forecasted to grow at a CAGR of 6.3% during the forecast period. Applications of aramid paper in aerospace industry includes aerospace structural and cabin interiors. Modern aircrafts are equipped with twin-walled sandwich structured hexagon aramid paper that has a high strength-to-weight ratio. This would lead to novel fuselage without the need for larger frame spacing. These honeycomb sandwiched fold-core structures are energy-absorbent with metal lattices, which can be tailored by choice of fiber, wall thickness and the fold geometry to enhance the absorption of impact energy. Aramid paper helps in constructing maximum structural mass at low cost requirements. High structural integrity of aramid papers combined with their light-weight components results in less fuel consumption and provides immediate thrust for decreasing resistance of air. Aramid papers structures are used in assembling robust aircraft monuments, partitions, bulkheads, overhead bins and ceilings. In January 2020, Airbus announced that, as part of its plan to produce 63 A320 Family aircraft per month in 2021, the company will expand its industrial footprint in the U.S. by increasing the production rate of A320 family aircraft at its Airbus U.S. manufacturing facility. Therefore, the growth in aircraft production is expected to influence the aramid paper market growth.
Aramid Paper Market Segment Analysis – By Geography
APAC dominated the market with a share of 36% in 2020, and is growing at a CAGR of 5.8% during forecast period 2021-2026. This is due to rising demand for aramid papers in electrical industries. A number of industries are located in the Asian countries and this is said to increase the demand for electrical insulation. Aramid paper is also widely used by the aerospace and defense industries of these regions which further contribute to its growth. The growing Automobile Manufacturing industry and strong growth in the number of automobiles in use across China are also driving growth in the Auto Parts Manufacturing industry in the region. The total number of automobiles in use in China was over 240 million in 2018, and this number is projected to continue increasing over the next five years. In November 2019, Malaysia Airlines signed a Memorandum of Understanding (MOU) with the Ministry of Entrepreneur Development (MED) for the implementation of the Vendor Development Programme (VDP) at the Vendor Innovation Partnership Programme in KL Convention Centre. Under this programme, the Malaysia Airlines will function as an anchor company and will support the programme by implementing VDP starting with the Engineering and Maintenance and AeroDarat Services. There will be five initial pilot projects for the VDP programme within Malaysia Airlines, mainly in sourcing additive manufacturing. Hench such developments in the region is poised to fuel its market growth. Moreover, Taiwan’s Aerospace Industrial Development Corporation and three other homegrown aviator sector firm secured international orders totaling NT$62billion (US$2 billion) over the next ten years, according to the Ministry of Economic Affairs. Hence, such investments in the region is expected to drive aramid paper market growth.
Aramid Paper Market Drivers
Rising demand for electrical insulation materials
Aramid papers are used as dielectric insulators in various applications. Their lightweight and heat resistant qualities improve the electrical insulation property of a device by preventing electrical damage to it. Rising need for electric insulation in electric device especially in industrial as well as residential applications has increased the research and innovation for these devices. Materials are being improved and new composites are being developed to increase the insulating property. Aramid paper is incorporated with materials such as carbon or cellulose fiber to improve its strength and other properties. The aramid paper with carbon coating has application in aerospace and marine application. The use of other materials increases its tensile strength and flexibility. It also increases the cost effectiveness. Aramid paper is moisture absorbing and requires special coating or lamination to prevent the moisture. Thus, use of carbon or mica along with aramid helps in moisture prevention. Composites of aramid paper have improved electrical insulation and heat resistance. Thus, its demand is increasing as an electrical insulating material in various applications.
Aramid Paper Market Challenges
High cost of aramid paper and its associated production costs:
Aramid paper are manufactured from the aramid pulp or fibers using various chemical and physical procedures that are very expensive. The paper is commonly being used to make honeycomb core composites that have application for various aerospace and marine construction applications. Aramid paper needs to be bonded, treated and undergo various steps to form a honeycomb core. Aramid paper Honeycombs are thus very expensive due to their manufacturing procedure and they are mostly used in constructing aircraft structures. The high cost restraints the scope of aramid paper for other minor applications.
Aramid Paper Market Industry Outlook
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Aramid Paper Market. The key players in the Aramid Paper Market includes DuPont de Nemours, Inc., Teijin Aramid B.V, Yantai Tayho Advanced Materials Co., Shenzhen Longpont Co., Ltd., among others.
Acquisitions/Expansion:
In February 2020, DuPont, announced to expand global capacity for DuPont Nomex paper. This investment directly supports the company’s ongoing commitment to increasing and maintaining supply reliability in order to meet the growing needs of the aerospace, automotive, and electrical infrastructure markets. This capacity increase will be created through a joint venture with Nippon Paper Papylia. Commercial production will start in 2021 at the Papylia manufacturing facility in Yufutsu, Japan.
Key Takeaways
Asia-Pacific dominates the global Aramid Paper market, owing to growth in automotive and aerospace production in the region.
According to International Trade Administration (ITA), China is the world’s largest vehicle market. The Chinese government is expecting that automobile output will reach 35 million by 2025.
In addition, according to International Energy Agency, in 2018, 3.29 million electric vehicles deployed globally and the number will increase up to 125 million by 2030. This will further drive the aramid paper market growth.
Related Reports:
A. Para-aramid Fibers Market
https://www.industryarc.com/Research/Para-aramid-Fibers-Market-Research-508474
B. Paper Chemicals Market
https://www.industryarc.com/Report/18387/paper-chemicals-market.html
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