According to the recent study the para aramid fiber market is projected to reach an estimated $3.0 billion by 2030 from $2.4 billion in 2023, at a CAGR of 5.0% from 2023 to 2030. Growth in this market is primarily driven by 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.
Browse 115 figures / charts and 112 tables in this 200 -page report to understand trends, opportunities and forecast in 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).
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Lucintel forecasts that protection segment will remain the largest application and is also expected to witness the highest growth over the forecast period due to growing need for protection of military personnel from mine attacks is expected to drive demand for mine-resistant ambush protected automobiles.
North America is expected to remain the largest region over the forecast period due to the protective clothing segment is driven by strict regulation for employee health and safety and also it is expected to witness highest growth over the forecast period.
America is expected to remain the largest region over the forecast period due to increasing automotive production, growth in aerospace industry, and stringent government regulation on industrial safety and protection. and it is also expected to witness highest growth over the forecast period.
Tejin Aramid, DuPont, Kolon Industries, Hyosung Corporation, Yantai Tayho Advanced Materials Co. Ltd. are the major supplier in the para aramid fiber market.
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