The meta-aramid fiber market is projected to reach USD 2.3 Billion by 2027, at a CAGR of 10.6% from USD 1.4 Billion in 2022. The major drivers of this market are the rising demand from the homeland security coupled with the increasing demand for meta-aramid fibers in electrical insulation applications drive the market. Increasing demand for homeland security and advancement in aramid materials manufacturing processes, are the significant growth opportunities for the market. However, its high cost of production and available alternatives restrict the market’s growth.
“Staple is estimated to be the largest type in the meta-aramid fiber market in 2021, in terms of value.”
The staple segment dominated the meta-aramid fiber market in terms of both value and volume. Growth in the market size of staple fiber is attributed to the increased demand for protective clothing across the globe. Government authorities in developed countries are increasingly concerned about the health and safety of the workers.
“Honeycomb reinforcement was the second-fastest growing application for meta-aramid fiber market during the forecast period.”
A honeycomb core comprises of a sandwich structure that is covered with facings or skins. The function of the core that is used as a filling is to add strength without adding weight to the final components. Honeycomb core materials are made of thermoplastic, aramid, aluminum, fiberglass, paper, carbon, and stainless steel. Meta-aramid fiber for honeycomb reinforcement adds benefits such as low weight, rigidity, durability, and toughness.
“APAC is projected to be the fastest growing meta-aramid fiber market during the forecast period, in terms of value.”
Asia Pacific is projected to be the fastest-growing meta-aramid fiber market, in terms of both value and volume, during the forecast period. The region is a global manufacturing hub and has one of the world’s largest numbers of on-road vehicles. Rising incomes, standards of living, population, and exports support the growth of the meta-aramid fiber market in the region. Emerging economies, such as China, India, Indonesia, and Thailand, are expected to witness robust expansion in terms of urbanization and infrastructure as well as investments in the manufacturing sector.
In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees are as follows:
- By Company Type: Tier 1 - 69%, Tier 2 - 23%, and Tier 3 - 8%
- By Designation: C-Level - 23%, Director Level - 37%, and Others - 40%
- By Region: North America - 32%, Europe - 21%, APAC - 28%, Middle East & Africa - 12%, and South America - 7%
The key market players profiled in the report include Asia Pacific is projected to be the fastest-growing meta-aramid fiber market, in terms of both value and volume, during the forecast period. The region is a global manufacturing hub and has one of the world’s largest numbers of on-road vehicles. Rising incomes, standards of living, population, and exports support the growth of the meta-aramid fiber market in the region. Emerging economies, such as China, India, Indonesia, and Thailand, are expected to witness robust expansion in terms of urbanization and infrastructure as well as investments in the manufacturing sector.
This report segments the market for meta-aramid fiber on the basis of type, application, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, expansions, and mergers & acquisitions associated with the market for meta-aramid fiber.
Reasons To Buy this report
This research report is focused on various levels of analysis ? industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the meta-aramid fiber market; high-growth regions; and market drivers, restraints, opportunities and challenges
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on meta-aramid fiber offered by top players in the global meta-aramid fiber market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities in the meta-aramid fiber market
- Market Development: Comprehensive information about lucrative emerging markets ? the report analyzes the markets for meta-aramid fiber across regions
- Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global meta-aramid fiber market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the meta-aramid fiber market