Class of strong and heat resistant synthetic fibers are termed as termed as aramid fiber. These fibers are used majorly in military as well as for aerospace applications. Furthermore, aramid fiber is also used for making ballistic -rated armor and composites. Besides this, they demand in bicycle tires market and as asbestos substitute has gained great popularity. Moreover, the fiber is resistant to the both abrasion damage and impact. When combined with epoxy it can be made waterproof.
Growing concerns over security and protection have contributed to the growth of the market globally. Rise in war like conditions across the world are likely to add value to the Aramid fiber market. On the other hand, the market is projected to witness a higher adoption rate owning to the rising demand from automotive, marine, firefighting and others.
The aramid fiber market has been segmented based on product, end user and geography. The products discussed in the market research report consists of para-aramid fiber and meta-aramid fiber. Major end users discussed during the study are aerospace & defense, automotive, electrical, telecommunication and others. Regions including North America, Europe, Asia -Pacific and LAMEA is likely to witness tremendous growth.
A closer look at the competitive landscape reveals that major IT brands are busy launching solutions and generating clients in the same month itself. Prominent market players are also seen acquiring new companies or local market players to maintain their competitive edge. Other business strategies favored by the companies include constant upgradation, joint ventures and collaborations.
Key market players active in aramid fiber market HYOSUNG Corporation., Kolon Industries Inc., E. I. du Pont de Nemours and Company, Yantai Tayho Advanced Materials Co., Ltd and Teijin Aramid.
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