Aramid Fiber Market
REPORT DESCRIPTION
Aramid Fiber Market (Para-aramid Fiber and Meta-aramid Fiber)
Aerospace & Defense, Automotive, Electrical, Electronics &
Telecommunication, and Other End-users - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2015 - 2023
Buoyed by growth in the automotive industry and an uptick in the demand for protective clothing, the global
aramid fiber market is expected to report a high single-digit CAGR between 2015 and 2023, says a latest
report by Transparency Market Research. The report, titled ‘Aramid Fiber Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023’ says that the valuation of the market was
US$ 2,598.2 million as of 2014 and will rise to US$ 5,099.1 million by 2023.
This translates to a 7.8% CAGR from 2015 to 2023 for the global aramid fiber market.This synthetic polymer,
which is obtained via a reaction between the amine group and arboxylic acid halide group, is widely applied in
industrial products and operations. Automotive components, electrical components, protective clothing, and
body armor are just a few examples of the applications of aramid fiber.
The report segments the global aramid fiber market on the basis of product type, en-users, and geographic
regions. Segmented thus, the aramid fiber market by products is classed into meta-aramid fiber and paraaramid fiber. The para-aramid fiber segment led the global aramid fiber market as it witnesses massive
demand from industries such as automotive, defense, and aerospace. This factor plays a crucial role in making
the para-aramid fiber segment the largest in the global aramid fiber market. With a market share of over 70%,
the para-aramid fiber segment was not only the largest in 2014, but is also expected to remain the fastestgrowing over the forecast period of this report.
Browse The Full Report at:
http://www.transparencymarketresearch.com/pressrelease/aramid-fiber-market.htm
Likewise, based on end-users, the following segments have been created: Automotive, aerospace and
defense, electronics and telecommunications, electrical, and others. TMR analysts say that about 35% of all
aramid fiber produced was consumed by the automotive segment in 2014, making this the largest end-user
segment globally. The automotive segment will report a healthy growth rate over the report’s forecast period.
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Transparency Market Research