Aramid Fiber Market
However, in terms of rate of growth, the electrical end-use segment is expected to emerge as the fastest with an 8.3 % CAGR from 2015 to 2023in revenue terms. The global aramid fiber market will continue to see a progressive increase in demand from the automotive and industrial protective clothing end-use industries.
The global aramid fiber market is also studied from the geographical perspective by segmenting it into: North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. Europe stood as the largest regional aramid fiber market in 2014 with a 35 % share of the overall market. The prospects of the European aramid fiber market look promising as the demand for personal armor and protective clothing will keep the consumption of aramid fiber high.
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From the regional standpoint, the fastest growth in the global aramid fiber market will be reported by Asia Pacific through the report’ s forecast period. In India and China, especially, aramid fiber is expected to be consumed in large volumes in automotive, construction, and electrical industries. Demand will also remain steady from ASEAN countries. The expansion of the aramid fiber market in North America is predicted to be striking over the next eight years as the U. S. moves a step closer to normalcy. Latin America will not disappoint, thanks to the rebounding automotive and construction industries – the two major end-users of aramid fiber.
While Middle East and Africa will not demonstrate a marked improvement in the demand for aramid fiber, the market’ s growth will be sustained largely by the oil and gas industry, which stirs up demand for protective clothing. Companies profiled in the aramid fiber market report are: E. I. du Pont de Nemours and Company, Kolon Industries Inc., Teijin Aramid, Yantai Tayho Advanced Materials Co., Ltd, and HYOSUNG Corporation.
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TABLE OF CONTENT
Chapter 1 Preface 1.1 Report Description 1.2 Market Segmentation
1.2.1 Global Aramid Fiber Market Segmentation by Product, End-user, and Region 1.3 Research Scope
1.3.1 Assumptions
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