ID: MRFR/CnM/4412-HCR | February 2021 | Region: Global | 100 Pages
TABLE OF CONTENTS
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Supply Chain Analysis
4.1.1 Raw material suppliers
4.1.2 Manufacturers/Producers
4.1.3 Distributors/Retailers/Wholesalers/E-commerce
4.1.4 End users
4.2 Porter’s Five Forces Analysis
4.2.1 Threat of new entrants
4.2.2 Bargaining power of buyers
4.2.3 Bargaining power of suppliers
4.2.4 Threat of substitutes
4.2.5 Intensity of competitive rivalry
5 Market Dynamics of Global Aramid Fiber Market
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Challenges
5.6 Trends/Technology
6. Global Aramid Fiber Market by Type
6.1 Introduction
6.2 Meta-aramid
6.2.1 Market Estimates & Forecast, 2020-2027
6.2.2 Market Estimates & Forecast by Region, 2020-2027
6.3 Para-aramid
6.3.1 Market Estimates & Forecast, 2020-2027
6.3.2 Market Estimates & Forecast by Region, 2020-2027
6.4 Others
6.4.1 Market Estimates & Forecast, 2020-2027
6.4.2 Market Estimates & Forecast by Region, 2020-2027
7. Global Aramid Fiber Market, by Application
7.1 Introduction
7.2 Security & Protection
7.2.1 Market Estimates & Forecast, 2020-2027
7.2.2 Market Estimates & Forecast by Region, 2020-2027
7.3 Frictional Materials
7.3.1 Market Estimates & Forecast, 2020-2027
7.3.2 Market Estimates & Forecast by Region, 2020-2027
7.4 Rubber reinforcement
7.4.1 Market Estimates & Forecast, 2020-2027
7.4.2 Market Estimates & Forecast by Region, 2020-2027
7.5 Optical fiber
7.5.1 Market Estimates & Forecast, 2020-2027
7.5.2 Market Estimates & Forecast by Region, 2020-2027
7.6 Electrical insulation
7.6.1 Market Estimates & Forecast, 2020-2027
7.6.2 Market Estimates & Forecast by Region, 2020-2027
7.7 Others
7.7.1 Market Estimates & Forecast, 2020-2027
7.7.2 Market Estimates & Forecast by Region, 2020-2027
8. Global Aramid Fiber Market, by End-user industry
8.1 Introduction
8.2 Aerospace & defense
8.2.1 Market Estimates & Forecast, 2020-2027
8.2.2 Market Estimates & Forecast by Region, 2020-2027
8.3 Automotive
8.3.1 Market Estimates & Forecast, 2020-2027
8.3.2 Market Estimates & Forecast by Region, 2020-2027
8.4 Consumer goods
8.4.1 Market Estimates & Forecast, 2020-2027
8.4.2 Market Estimates & Forecast by Region, 2020-2027
8.5 Marine
8.5.1 Market Estimates & Forecast, 2020-2027
8.5.2 Market Estimates & Forecast by Region, 2020-2027
8.6 Others
8.6.1 Market Estimates & Forecast, 2020-2027
8.6.2 Market Estimates & Forecast by Region, 2020-2027
9. Global Aramid Fiber Market, by Region
9.1 Introduction
9.2 North America
9.2.1 Market Estimates & Forecast, 2020-2027
9.2.2 Market Estimates & Forecast by Type, 2020-2027
9.2.3 Market Estimates & Forecast by Application, 2020-2027
9.2.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.2.5 U.S.
9.2.5.1 Market Estimates & Forecast, 2020-2027
9.2.5.2 Market Estimates & Forecast by Type, 2020-2027
9.2.5.3 Market Estimates & Forecast by Application, 2020-2027
9.2.5.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.2.6 Canada
9.2.6.1 Market Estimates & Forecast, 2020-2027
9.2.6.2 Market Estimates & Forecast by Type, 2020-2027
9.2.6.3 Market Estimates & Forecast by Application, 2020-2027
9.2.6.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.3 Europe
9.3.1 Market Estimates & Forecast, 2020-2027
9.3.2 Market Estimates & Forecast by Type, 2020-2027
9.3.3 Market Estimates & Forecast by Application, 2020-2027
9.3.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.3.5 Germany
9.3.5.1 Market Estimates & Forecast, 2020-2027
9.3.5.2 Market Estimates & Forecast by Type, 2020-2027
9.3.5.3 Market Estimates & Forecast by Application, 2020-2027
9.3.5.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.3.6. France
9.3.6.1 Market Estimates & Forecast, 2020-2027
9.3.6.2 Market Estimates & Forecast by Type, 2020-2027
9.3.6.3 Market Estimates & Forecast by Application, 2020-2027
9.3.6.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.3.7 Italy
9.3.7.1 Market Estimates & Forecast, 2020-2027
9.3.7.2 Market Estimates & Forecast by Type, 2020-2027
9.3.7.3 Market Estimates & Forecast by Application, 2020-2027
9.3.7.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.3.8 Spain
9.3.8.1 Market Estimates & Forecast, 2020-2027
9.3.8.2 Market Estimates & Forecast by Type, 2020-2027
9.3.8.3 Market Estimates & Forecast by Application, 2020-2027
9.3.8.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.3.9 U.K.
9.3.9.1 Market Estimates & Forecast, 2020-2027
9.3.9.2 Market Estimates & Forecast by Type, 2020-2027
9.3.9.3 Market Estimates & Forecast by Application, 2020-2027
9.3.9.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.3.10 Russia
9.3.10.1 Market Estimates & Forecast, 2020-2027
9.3.10.2 Market Estimates & Forecast by Type, 2020-2027
9.3.10.3 Market Estimates & Forecast by Application, 2020-2027
9.3.10.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.3.11 Poland
9.3.11.1 Market Estimates & Forecast, 2020-2027
9.3.11.2 Market Estimates & Forecast by Type, 2020-2027
9.3.11.3 Market Estimates & Forecast by Application, 2020-2027
9.3.11.4 Market Estimates & Forecast by End-use Industry,2020-2027
9.4 Asia Pacific
9.4.1 Market Estimates & Forecast, 2020-2027
9.4.2 Market Estimates & Forecast by Type, 2020-2027
9.4.3 Market Estimates & Forecast by Application, 2020-2027
9.4.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.4.5 China
9.4.5.1 Market Estimates & Forecast, 2020-2027
9.4.5.2 Market Estimates & Forecast by Type, 2020-2027
9.4.5.3 Market Estimates & Forecast by Application, 2020-2027
9.4.5.3 Market Estimates & Forecast by End-use Industry, 2020-2027
9.4.6 India
9.4.6.1 Market Estimates & Forecast, 2020-2027
9.4.6.2 Market Estimates & Forecast by Type, 2020-2027
9.4.6.3 Market Estimates & Forecast by Application, 2020-2027
9.4.6.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.4.7 Japan
9.4.7.1 Market Estimates & Forecast, 2020-2027
9.4.7.2 Market Estimates & Forecast by Type, 2020-2027
9.4.7.3 Market Estimates & Forecast by Application, 2020-2027
9.4.7.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.4.8 Australia
9.4.8.1 Market Estimates & Forecast, 2020-2027
9.4.8.2 Market Estimates & Forecast by Type, 2020-2027
9.4.8.3 Market Estimates & Forecast by Application, 2020-2027
9.4.8.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.4.9 New Zealand
9.4.9.1 Market Estimates & Forecast, 2020-2027
9.4.9.2 Market Estimates & Forecast by Type, 2020-2027
9.4.9.3 Market Estimates & Forecast by Application, 2020-2027
9.4.9.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.4.10 Rest of Asia Pacific
9.4.10.1 Market Estimates & Forecast, 2020-2027
9.4.10.2 Market Estimates & Forecast by Type, 2020-2027
9.4.10.3 Market Estimates & Forecast by Application, 2020-2027
9.4.10.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.5 Middle East & Africa
9.5.1 Market Estimates & Forecast, 2020-2027
9.5.2 Market Estimates & Forecast by Type, 2020-2027
9.5.3 Market Estimates & Forecast by Application, 2020-2027
9.5.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.5.5 Turkey
9.5.5.1 Market Estimates & Forecast, 2020-2027
9.5.5.2 Market Estimates & Forecast by Type, 2020-2027
9.5.5.3 Market Estimates & Forecast by Application, 2020-2027
9.5.5.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.5.6 Israel
9.5.6.1 Market Estimates & Forecast, 2020-2027
9.5.6.2 Market Estimates & Forecast by Type, 2020-2027
9.5.6.3 Market Estimates & Forecast by Application, 2020-2027
9.5.6.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.5.7 North Africa
9.5.7.1 Market Estimates & Forecast, 2020-2027
9.5.7.2 Market Estimates & Forecast by Type, 2020-2027
9.5.7.3 Market Estimates & Forecast by Application, 2020-2027
9.5.7.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.5.8 GCC
9.5.8.1 Market Estimates & Forecast, 2020-2027
9.5.8.2 Market Estimates & Forecast by Type, 2020-2027
9.5.8.3 Market Estimates & Forecast by Application, 2020-2027
9.5.8.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.5.9 Rest of Middle East & Africa
9.5.9.1 Market Estimates & Forecast, 2020-2027
9.5.9.2 Market Estimates & Forecast by Type, 2020-2027
9.5.9.3 Market Estimates & Forecast by Application, 2020-2027
9.5.9.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.6 Latin America
9.6.1 Market Estimates & Forecast, 2020-2027
9.6.2 Market Estimates & Forecast by Type, 2020-2027
9.6.3 Market Estimates & Forecast by Application, 2020-2027
9.6.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.6.5 Brazil
9.6.5.1 Market Estimates & Forecast, 2020-2027
9.6.5.2 Market Estimates & Forecast by Type, 2020-2027
9.6.5.3 Market Estimates & Forecast by Application, 2020-2027
9.6.5.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.6.6 Mexico
9.6.6.1 Market Estimates & Forecast, 2020-2027
9.6.6.2 Market Estimates & Forecast by Type, 2020-2027
9.6.6.3 Market Estimates & Forecast by Application, 2020-2027
9.6.6.6 Market Estimates & Forecast by End-use Industry, 2020-2027
9.6.7 Argentina
9.6.7.1 Market Estimates & Forecast, 2020-2027
9.6.7.2 Market Estimates & Forecast by Type, 2020-2027
9.6.7.3 Market Estimates & Forecast by Application, 2020-2027
9.6.7.4 Market Estimates & Forecast by End-use Industry, 2020-2027
9.6.8 Rest of Latin America
9.6.8.1 Market Estimates & Forecast, 2020-2027
9.6.8.2 Market Estimates & Forecast by Type, 2020-2027
9.6.8.3 Market Estimates & Forecast by Application, 2020-2027
9.6.8.4 Market Estimates & Forecast by End-use Industry, 2020-2027
10. Company Landscape
10.1 Introduction
10.2 Market Strategy
10.3 Key Development Analysis (Expansion/Merger & Acquisitions/Joint Venture/New Product Development/Agreement/Investment)
11. Company Profiles
11.1 TEIJIN LIMITED
11.1.1 Company Overview
11.1.2 Financial Updates
11.1.3 Product/Business Segment Overview
11.1.4 Strategy
11.1.5 Key Developments
11.1.6 SWOT Analysis
11.2 Yantai Tayho Advanced Materials Co., Ltd
11.2.1 Company Overview
11.2.2 Financial Updates
11.2.3 Product/Business Segment Overview
11.2.4 Strategy
11.2.5 Key Developments
11.2.6 SWOT Analysis
11.3 HYOSUNG
11.3.1 Company Overview
11.3.2 Financial Updates
11.3.3 Product/Business Segment Overview
11.3.4 Strategy
11.3.5 Key Developments
11.3.6 SWOT Analysis
11.4 Toray Chemicals Korea Inc.
11.4.1 Company Overview
11.4.2 Financial Updates
11.4.3 Product/Business Segment Overview
11.4.4 Strategy
11.4.5 Key Developments
11.4.6 SWOT Analysis
11.5 KERMEL
11.5.1 Company Overview
11.5.2 Financial Updates
11.5.3 Product/Business Segment Overview
11.5.4 Strategy
11.5.5 Key Developments
11.5.6 SWOT Analysis
11.6 Kolon Industries, Inc
11.6.1 Company Overview
11.6.2 Financial Updates
11.6.3 Product/Business Segment Overview
11.6.4 Strategy
11.6.5 Key Developments
11.6.6 SWOT Analysis
11.7 Huvis
11.7.1 Company Overview
11.7.2 Financial Updates
11.7.3 Product/Business Segment Overview
11.7.4 Strategy
11.7.5 Key Developments
11.7.6 SWOT Analysis
11.8 China National Bluestar (Group) Co. Ltd.
11.8.1 Company Overview
11.8.2 Financial Updates
11.8.3 Product/Business Segment Overview
11.8.4 Strategy
11.8.5 Key Developments
11.8.6 SWOT Analysis
11.9 SRO Aramid (Jiangzu) Co., Ltd.
11.9.1 Company Overview
11.9.2 Financial Updates
11.9.3 Product/Business Segment Overview
11.9.4 Strategy
11.9.5 Key Developments
11.9.6 SWOT Analysis
11.10 IBIDEN CO., LTD
11.10.1 Company Overview
11.10.2 Financial Updates
11.10.3 Product/Business Segment Overview
11.10.4 Strategy
11.10.5 Key Developments
11.10.6 SWOT Analysis
12. Conclusion
LIST OF TABLES
Table 1 Global Aramid Fiber market: By Region, 2020-2027
Table 2 North America Aramid Fiber market: By Country, 2020-2027
Table 3 Europe Aramid Fiber market: By Country, 2020-2027
Table 4 Asia-Pacific Aramid Fiber market: By Country, 2020-2027
Table 5 Middle East & Africa Aramid Fiber market: By Country, 2020-2027
Table 6 Latin America Aramid Fiber market: By Country, 2020-2027
Table 7 Global Aramid Fiber Type Market: By Regions, 2020-2027
Table 8 North America Aramid Fiber Type Market: By Country, 2020-2027
Table 9 Europe Aramid Fiber Type Market: By Country, 2020-2027
Table10 Asia-Pacific Aramid Fiber Type Market: By Country, 2020-2027
Table11 Middle East & Africa Aramid Fiber Type Market: By Country, 2020-2027
Table12 Latin America Aramid Fiber Type Market: By Country, 2020-2027
Table13 Global Aramid Fiber Application Market: By Regions, 2020-2027
Table14 North America Aramid Fiber by Application Market: By Country, 2020-2027
Table15 Europe Aramid Fiber Application Market: By Country, 2020-2027
Table16 Asia-Pacific Aramid Fiber Application Market: By Country, 2020-2027
Table17 Middle East & Africa Aramid Fiber Application Market: By Country, 2020-2027
Table18 Latin America Aramid Fiber Application Market: By Country, 2020-2027
Table19 Global Aramid Fiber End-use Industry Market: By Regions, 2020-2027
Table20 North America Aramid Fiber End-use Industry Market: By Country, 2020-2027
Table21 Europe Aramid Fiber End-use Industry Market: By Country, 2020-2027
Table22 Asia-Pacific Aramid Fiber End-use Industry Market: By Country, 2020-2027
Table23 Middle East & Africa Aramid Fiber End-use Industry Market: By Country, 2020-2027
Table24 Latin America Aramid Fiber End-use Industry Market: By Country, 2020-2027
Table25 Global Type Market: By Region, 2020-2027
Table26 Global Application Market: By Region, 2020-2027
Table27 Global End-use Industry Market: By Region, 2020-2027
Table28 North America Aramid Fiber market, By Country
Table29 North America Aramid Fiber market, By Type
Table30 North America Aramid Fiber market, By Application
Table31 North America Aramid Fiber market, By End-use Industry
Table32 Europe: Aramid Fiber market, By Country
Table33 Europe: Aramid Fiber market, By Type
Table34 Europe: Aramid Fiber market, By Application
Table35 Europe: Aramid Fiber market, By End-use Industry
Table36 Asia-Pacific: Aramid Fiber market, By Country
Table37 Asia-Pacific: Aramid Fiber market, By Type
Table38 Asia-Pacific: Aramid Fiber market, By Application
Table39 Asia-Pacific: Aramid Fiber market, By End-use Industry
Table40 Middle East & Africa: Aramid Fiber market, By Country
Table41 Middle East & Africa Aramid Fiber market, By Type
Table42 Middle East & Africa Aramid Fiber market, By Application
Table43 Middle East & Africa: Aramid Fiber market, By End-use Industry
Table44 Latin America: Aramid Fiber market, By Country
Table45 Latin America Aramid Fiber market, By Type
Table46 Latin America Aramid Fiber market, By Application
Table47 Latin America: Aramid Fiber market, By End-use Industry
LIST OF FIGURES
FIGURE 1 Global Aramid Fiber market segmentation
FIGURE 2 Forecast Printing methodology
FIGURE 3 Porter’s Five Forces Analysis of Global Aramid Fiber market
FIGURE 4 Value Chain of Global Aramid Fiber market
FIGURE 5 Share of Global Aramid Fiber market in 2020, by country (in %)
FIGURE 6 Global Aramid Fiber market, 2020-2027,
FIGURE 7 Global Aramid Fiber market size by Type, 2020
FIGURE 8 Share of Global Aramid Fiber market by Type, 2020-2027
FIGURE 9 Global Aramid Fiber market size by Application, 2020
FIGURE 10 Share of Global Aramid Fiber market by Application, 2020-2027
FIGURE 11 Global Aramid Fiber market size by End-use Industry, 2020
FIGURE 12 Share of Global Aramid Fiber market by End-use Industry, 2020-2027
$8.6 Billion
10.75%
Asia-Pacific
2021-2028
The global aramid fiber market is segmented by type, application, and end-user industries.
The global aramid fiber market is segmented on the basis of the type as meta-aramid, para-aramid, and others.
Based on the application, the market is segmented into security & protection, frictional materials, rubber reinforcement, optical fiber, electrical insulation, and others.
On the basis of the end-user industries, the global aramid fiber market is segmented into aerospace & defense, automotive, consumer goods, marine, and others.
Key Players
Some of the manufacturers operating in the global aramid fiber market are TEIJIN LIMITED (Japan), Yantai Tayho Advanced Materials Co., Ltd (China), HYOSUNG (South Korea), Toray Chemicals Korea Inc. (South Korea), KERMEL (France), Kolon Industries, Inc. (South Korea), Huvis (South Korea), China National Bluestar (Group) Co. Ltd. (China), SRO Aramid (Jiangzu) Co., Ltd. (China), and IBIDEN CO., LTD. (Japan).
Market Synopsis:
Aramid fiber is a man-made organic polymer and belongs to a class of heat-resistant and strong synthetic fibers. They exhibit superior characteristics such as good resistance to abrasion and organic solvents, non-conductivity, high melting point, low flammability, and others.
The global aramid fiber market is primarily driven by the increasing demand for protective clothing from military & defense, and industrial sectors. The growing defense sector for homeland security and counterterrorism strategies is augmenting the demand for aramid fiber due to their flame resistant and heat protective nature. The use of aramid fiber in ballistic applications such as bulletproof vests and protective gloves is likely to fuel the market growth over the assessment period 2017-2023. Furthermore, aramid fiber is used in the automotive sector for making hoses, belts, gaskets, tyres, brake pads, clutches, and others. They also help in increasing the performance, safety, and durability of the automotive. Moreover, the increasing demand for various applications such as electrical insulation, optical fiber, and others is driving the global market. The product is an excellent substitute for steel and asbestos, therefore, it is widely used in the construction sector. These fibers are extensively consumed in the manufacturing of consumer goods such as refrigerator, AC, washing machines, and others to make them strong and lightweight. Nevertheless, stringent regulations for occupational safety by Occupational Safety and Health Administration (OSHA) is expected to augment the market growth. However, the high production cost and the non-biodegradable nature of these fibers are likely to hamper the market growth.
Some of the key trends observed in the market are a merger, acquisitions, and others. For instance, in March 2017, DuPont Protection Solutions entered a two-year global agreement for DuPont TM Kevlar with Nitro Circus, an action sports company, thus, influencing the product use in sporting goods.
Global Aramid Fiber Market, by Application (%)
Source: MRFR analysis
Regional Analysis
The Global Aramid Fiber market is segmented into five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The Asia Pacific is the fastest growing region in the global market owing to the growing industrial, aerospace, and military sectors in this region. The increasing demand for durable, lightweight, and efficient automotive is another driver of the market in Asia Pacific region. Moreover, the production and sales of consumer goods in Asia Pacific are high, which fuels the market growth.
North America is the second largest region in the aramid fiber market due to the high demand from the defense and automotive sector. The U.S. is one of the major military powers in the world and is expected to continue dominating over the forecast period, which is likely to augment the product demand. The increasing demand for automotive coupled with high disposable income is driving the growth of the market in this region.
The increasing production and sales of various automotive parts in western European countries such as the U.K, Germany, France, and others are expected to boost the market growth over the forecast period.
Latin American market is growing moderately on account of the growing automotive sector in Mexico.
The Middle East & Africa market is likely to grow during the review period due to the growing product demand from the construction sector as a replacement for steel and asbestos.
Intended Audience
Report Attribute/Metric | Details |
---|---|
Market Size | 2030 : Significant value |
CAGR | Substantial Value |
Base Year | 2021 |
Forecast Period | 2022 to 2030 |
Historical Data | 2019Â &Â 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Type, Application and End-Use |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | TEIJIN LIMITED (Japan), Yantai Tayho Advanced Materials Co., Ltd (China), HYOSUNG (South Korea), Toray Chemicals Korea Inc. (South Korea), KERMEL (France), Kolon Industries, Inc. (South Korea), Huvis (South Korea), China National Bluestar (Group) Co. Ltd. (China), SRO Aramid (Jiangzu) Co., Ltd. (China), and IBIDEN CO., LTD. (Japan) |
Key Market Opportunities | high production cost and the non-biodegradable nature |
Key Market Drivers | increasing demand for protective clothing from military & defense, and industrial sectors |
Frequently Asked Questions (FAQ) :
Notable players profiled in the aramid fiber market include IBIDEN CO., LTD. (Japan), SRO Aramid (Jiangzu) Co., Ltd. (China), China National Bluestar (Group) Co. Ltd. (China), Huvis (South Korea), Kolon Industries, Inc. (South Korea), KERMEL (France), Toray Chemicals Korea Inc. (South Korea), HYOSUNG (South Korea), Yantai Tayho Advanced Materials Co., Ltd (China), and TEIJIN LIMITED (Japan).
The APAC region is predicted to have the largest share in aramid fiber market.
Booming defense sector for homeland security & counterterrorism strategies and growing demand for protective clothing from industrial sectors and military and defense are adding to the market growth.
Nonbiodegradable nature of the fiber and high production cost may hamper the market growth.
It is widely used in military, aerospace and industrial sectors.