Lucintel’s latest market report analyzed that para aramid fiber provides attractive opportunities in frictional materials, protection, electrical transmission, safety garments, rubber reinforcement, tire reinforcement, and oil and gas industries. The para aramid fiber market is expected to reach $3.2 billion by 2025 with a CAGR of 3.2%. In this market, filament yarn is the largest segment by product type, whereas frictional materials are largest by application. The development of new para aramid fabric which protects structures from airborne volcanic fragments provides strategic growth path in this market.
Download Brochure of this report by clicking on https://www.lucintel.com/para-aramid-fiber-market.aspx Based on product type, the para aramid fiber market is segmented into filament yarn, short fibers, pulp. The filament yarn segment accounted for the largest share of the market in 2020 and is expected to register the highest CAGR during the forecast period, due to the increasing demand for protective clothing in the military and stringent regulations in Europe and North America regarding employee health and safety.
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The para aramid fiber market is marked by the presence of several big and small players. Some of the prominent players offering para aramid fiber include Teijin Aramid, DowDuPont, Kolon Industries Inc.,Hyosung Corporation ,Yantai Tayho Advanced Materials Co. Ltd.
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