The global Aramid Fiber Market is expected to gain momentum owing to increasing demand for the product in military applications across the globe.

Fortune Business Insights, in its latest report, titled “Aramid Fiber Market Size, Share & Industry Analysis, By Type (Para, Meta and Others), By Application (Security & Protection, Frictional Materials, Rubber reinforcement, Optical fiber, Tire reinforcement, Electrical insulation, Aerospace and Others), and Regional Forecast, 2019-2026.”, Observes that the market is likely to reach USD 7.28 billion by 2026 while exhibiting a CAGR of 7.0% between 2019 and 2026. The report further mentions that market was worth USD 4.25 billion in 2018 and is anticipated to grow during the forecast period.

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List of the Leading Companies Operating in the Aramid Fiber Market are:
• DuPont
• Teijin Limited
• Kolon Industries Inc.
• Yantai Tayho Advanced Materials Co., Ltd.
• X-FIPER New Material Co., Ltd.
• HUVIS CORPORATION
• Hyosung Corporation
• China National Bluestar (Group) Co, Ltd.
• Toyobo Co., Ltd.
• Aramid Hpm, LLC.
• Among others
Aramid fiber was first commercialized in the year 1960. It offers several properties that are useful for clothing, armor, and other applications. The properties include good abrasion resistance, high tensile strength, low flammability, and no melting points, among others. The breaking tenacity of an aramid yarn is about 3045 MPa, which is 5 times more than that of steel and twice that of nylon or glass fiber.

What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will affect market growth. The report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2019 and 2026. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
DRIVING FACTORS
Increasing Adoption in Military Applications to Aid Growth
Aramid fibers are strong synthetic fibers that are heat-resistant and possess strong tensile strength. They are widely adopted in several military applications that include the manufacturing of ballistic-grade body armor fabric and composites. The popular Kevlar used by several militaries across the globe is a para-aramid fiber. Increasing focus on upgrading the military by several countries is expected to bode well for the growth of the global aramid fiber market in the forthcoming years. For instance, in November 2019, China announced its development of a light, strong para-aramid fiber, golden silk that is resistant to corrosion and heat. The fiber will be adopted to produce bullet-proof and fire-proof military equipment.

REGIONAL INSIGHTS
Europe to Remain at the Forefront; Technological Advancement in Automotive Sector to Bolster Growth
Among all regions, the market in Europe is expected to witness significant demand and register high global aramid fiber market revenue during the forecast period. This is ascribable to factors such as growing technological advancement in the automotive and electronics industry in the region. North America, on the other hand, is anticipated to witness steady growth in the forthcoming years. This is attributable to factors such as increasing demand for ballistic armor owing to the possibility of warfare threats in countries such as the US between 2019 and 2026.
COMPETITIVE LANDSCAPE
Product Expansion Strategies by Major Companies to Augur Growth
In November 2019, Teijin Aramid B.V., a Netherland-based aramid fiber manufacturer, announced its plan to expand its production capability by 25% at its factories located in Emmen and Delfzijl. According to the company, the expansion is aimed at leveraging the opportunity to cater to the increasing demand for the product and invest in developing new technologies that will aid to reduce CO2 emissions. Adoption of strategies such as product expansion offerings, collaboration, and merger and acquisition by the companies is anticipated to boost the global aramid fiber market share during the forecast period.

Browse Detailed Research Insights with Table of Content:
https://www.fortunebusinessinsights.com/aramid-fiber-market-102183

Table of Contents
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Industry Trends
4.2. Overview of Global Aramid Fiber Production
5. Global Aramid Fiber Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Type
5.2.1.Para
5.2.2.Meta
5.2.3.Others
5.3. Market Analysis, Insights and Forecast – By Application
5.3.1.Security & protection
5.3.2.Frictional materials
5.3.3.Rubber reinforcement
5.3.4.Optical fiber
5.3.5.Tire reinforcement
5.3.6.Electrical insulation
5.3.7.Aerospace
5.3.8.Others
5.4. Market Analysis, Insights and Forecast – By Region
5.4.1.North America
5.4.2.Europe
5.4.3.Asia pacific
5.4.4.Latin America
5.4.5.Middle East & Africa
TOC Continued..!!!



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