Aramids Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 2.64 Billion |
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Market Size (2029) | USD 3.63 Billion |
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Largest Share by End User Industry | Electrical and Electronics |
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CAGR (2024 - 2029) | 6.52 % |
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Largest Share by Region | Asia-Pacific |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Aramids Market Analysis
The Aramids Market size is estimated at 2.64 billion USD in 2024, and is expected to reach 3.63 billion USD by 2029, growing at a CAGR of 6.52% during the forecast period (2024-2029).
2.64 Billion
Market Size in 2024 (USD)
3.63 Billion
Market Size in 2029 (USD)
6.10 %
CAGR (2017-2023)
6.52 %
CAGR (2024-2029)
Largest Market by End-user Industry
28.01 %
value share, Electrical and Electronics, 2023
Due to their mechanical, electrical, thermal, and chemical properties, aramids are compounded with different other plastics to be used in the electrical and electronics industry.
Fastest Growing Market by End-user Industry
8.45 %
Projected CAGR, Electrical and Electronics, 2024-2029
Owing to the high temperature and electrical resistance, the demand for aramids is increasing in electronic applications. Thus, electronics is projected to be the fastest-growing industry.
Largest Market by Region
48.58 %
value share, Asia-Pacific, 2023
Asia-Pacific was driven by major developing economies like India, China, Japan, and South Korea. These countries also happen to be the largest consumers of aramid in automotive, food and beverages, etc.
Fastest Growing Market by Region
8.80 %
Projected CAGR, Middle East, 2024-2029
The Middle East witnessed a significant increase in investments in various industries, including automotive and medical. It is projected to have the fastest growth in the market.
Leading Market Player
45.89 %
market share, DuPont, 2022
DuPont is the largest producer of aramid fibers with a production capacity of 58 kilotons. It is also one of the top innovators in this industry and has developed products for use in various end-users.
Growing demand from the electrical and electronics industry leading the market
- Aramids are sub-resins of polyamide that contain over 85% of an amide bond. They are known for their lightweight, high-strength, high-modulus, high-temperature resistance, and excellent corrosion resistance properties. Their consumption was recorded to be the highest in 2022, with a 9.91% increase in volume over 2021, primarily due to significantly higher demand from the automotive and industrial machinery end-user industry segments.
- The electrical and electronics industry is the largest end-user segment for aramids. It is a highly desirable material for applications such as tough and highly thermal-resistant electrical insulation, certain components in electronics, and primarily in optical fiber and cable reinforcement as a binder. Such high demand from the industry is attributed to the internet's popularity, usability, and dependability, which have increased dramatically over recent years, catalyzing the market for optical fiber cables globally. The demand for aramids is expected to grow at the fastest rate in the electrical and electronics industry, with an anticipated CAGR of 8.4% by value during the forecast period (2023-2029).
- The automotive industry is the second-largest segment of the aramids market, with a share of around 26%. This is owing majorly to properties such as high strength, low flammability, and superior resistance to abrasion and organic solvents. These properties make aramids highly beneficial for applications such as automobile hoses, belts, tire reinforcement, transmission boxes, braking systems, vehicle armor, and airbags. Reductions in rolling resistance, energy usage, and emissions are the significant advantages imparted by aramids in the automotive end-user industry segment, which is projected to register a CAGR of 6.08% by value during the forecast period (2023-2029).
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African consumer electronics industry to drive market expansion
- Aramid is majorly used in the automotive and electrical and electronics end-user industries. Its flame resistance, lightweight, high strength, and corrosion resistance properties make it a highly desirable material for these industries. In 2022, the global demand for aramid grew by 9.19% by volume over the previous year.
- Asia-Pacific is the largest and most profitable region for aramid products, accounting for a consumption share of 74% in 2022. China and Japan are currently the largest consumer nations, owing primarily to their automotive, electrical and electronics, and industrial machinery end-use industry segments. Increasing production of electrical and electronic goods under government initiatives in India is also expected to result in the regional segment leading the market with the highest CAGR of 11.25% by volume during the forecast period.
- Europe is the second-largest regional market, and its primary end-user industries in the aramids market are electrical and electronics and automotive. A significant share of the European market is held by countries such as Germany, Italy, and France, resulting in the region accounting for a consumption share of 50% by volume in 2022. The rising expenditure on their respective aerospace industries by France and the United Kingdom is expected to drive market growth in the region, with CAGRs of 6.83% and 6.92%, respectively, by volume during the forecast period.
- Middle East is the fastest-growing consumer for aramids. It is likely to record a CAGR of 8.69% in terms of value during the forecast period, attributed to growing electrical and electronics industry and aerospace industry, which is expected to grow at a CAGR of 11.47% and 8.77% respectively.
Global Aramids Market Trends
Technological advancements in electronics industry may foster the growth
- The rapid pace of technological innovation in electronic products is driving the consistent demand for new and fast electrical and electronic products. In 2022, the global revenue of electrical and electronics stood at USD 5,807 billion, with Asia-Pacific holding a 74% market share, followed by Europe with a 13% share. The global electrical and electronics market is expected to record a CAGR of 6.61% during the forecast period.
- In 2018, the Asia-Pacific region witnessed strong economic growth owing to rapid industrialization in China, South Korea, Japan, India, and ASEAN countries. In 2020, due to the pandemic, there was a slowdown in global electrical and electronics production due to the shortage of chips and inefficiencies in the supply chain, which led to a stagnant growth rate of 0.1% in revenue compared to the previous year. This growth was driven by the demand for consumer electronics for remote working and home entertainment as people were forced to remain indoors during the pandemic.
- The demand for advanced technologies, such as digitalization, robotics, virtual reality, augmented reality, IoT (Internet of Things), and 5G connectivity, is expected to grow during the forecast period. Global electrical and electronics production is expected to register a growth rate of 5.9% in 2027. As a result of technological advancements, the demand for consumer electronics is expected to rise during the forecast period. For instance, the global consumer electronics industry is projected to witness a revenue reach of around USD 904.6 billion in 2027, compared to USD 719.1 billion in 2023. As a result, technological development is projected to lead the demand for electrical and electronic products during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Fast-paced growth of aviation industry and increased aircraft contracts may aid market growth
- Fast-paced urbanization and investments in Asia-Pacific region may boost the industry
- Growing demand for electric vehicles may boost automobile industry growth
- Demand for flexible packaging from the food and beverage industry boosting market growth
Aramids Industry Overview
The Aramids Market is fairly consolidated, with the top five companies occupying 84.34%. The major players in this market are DuPont, Hyosung Advanced Materials, Kolon Industries, Inc., Teijin Limited and Yantai Tayho Advanced Materials Co.,Ltd. (sorted alphabetically).
Aramids Market Leaders
DuPont
Hyosung Advanced Materials
Kolon Industries, Inc.
Teijin Limited
Yantai Tayho Advanced Materials Co.,Ltd.
Other important companies include China Petroleum & Chemical Corporation, Huvis Corp., JSC "Kamenskvolokno", Taekwang Industrial Co., Ltd, X-FIPER New Material Co., Ltd.
*Disclaimer: Major Players sorted in alphabetical order.
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Aramids Market News
- November 2021: A new project of Newstar meta-aramid industrialization was put into production by Yantai Tayho Advanced Materials Co.,Ltd. The project makes use of third-generation meta-aramid manufacturing technology, which is at the forefront of the international market.
- November 2020: Teijin announced plans to expand its production capacity of Aramids by 25% and increase its sales volume across locations.
- April 2020: Yantai Tayho Advanced Materials Co.,Ltd. has successfully launched the trial production of Taparan para-aramid. The increase in capacity due to quality upgrading contributes to the increasing demand for high performance fiber both domestically and globally.
Free with this Report
We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 15+ free charts, the section covers rare data on various end-user production trends including passenger vehicle production, commercial vehicle production, motorcycle production, aerospace components production, electrical and electronics production, and regional data for engineering plastics demand etc.
Aramids Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
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4.1 End User Trends
- 4.1.1 Aerospace
- 4.1.2 Automotive
- 4.1.3 Building and Construction
- 4.1.4 Electrical and Electronics
- 4.1.5 Packaging
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4.2 Regulatory Framework
- 4.2.1 Argentina
- 4.2.2 Australia
- 4.2.3 Brazil
- 4.2.4 Canada
- 4.2.5 China
- 4.2.6 EU
- 4.2.7 India
- 4.2.8 Japan
- 4.2.9 Malaysia
- 4.2.10 Mexico
- 4.2.11 Nigeria
- 4.2.12 Russia
- 4.2.13 Saudi Arabia
- 4.2.14 South Africa
- 4.2.15 South Korea
- 4.2.16 United Arab Emirates
- 4.2.17 United Kingdom
- 4.2.18 United States
- 4.3 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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5.1 End User Industry
- 5.1.1 Aerospace
- 5.1.2 Automotive
- 5.1.3 Electrical and Electronics
- 5.1.4 Industrial and Machinery
- 5.1.5 Other End-user Industries
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5.2 Region
- 5.2.1 Africa
- 5.2.1.1 By Country
- 5.2.1.1.1 Nigeria
- 5.2.1.1.2 South Africa
- 5.2.1.1.3 Rest of Africa
- 5.2.2 Asia-Pacific
- 5.2.2.1 By Country
- 5.2.2.1.1 Australia
- 5.2.2.1.2 China
- 5.2.2.1.3 India
- 5.2.2.1.4 Japan
- 5.2.2.1.5 Malaysia
- 5.2.2.1.6 South Korea
- 5.2.2.1.7 Rest of Asia-Pacific
- 5.2.3 Europe
- 5.2.3.1 By Country
- 5.2.3.1.1 France
- 5.2.3.1.2 Germany
- 5.2.3.1.3 Italy
- 5.2.3.1.4 Russia
- 5.2.3.1.5 United Kingdom
- 5.2.3.1.6 Rest of Europe
- 5.2.4 Middle East
- 5.2.4.1 By Country
- 5.2.4.1.1 Saudi Arabia
- 5.2.4.1.2 United Arab Emirates
- 5.2.4.1.3 Rest of Middle East
- 5.2.5 North America
- 5.2.5.1 By Country
- 5.2.5.1.1 Canada
- 5.2.5.1.2 Mexico
- 5.2.5.1.3 United States
- 5.2.6 South America
- 5.2.6.1 By Country
- 5.2.6.1.1 Argentina
- 5.2.6.1.2 Brazil
- 5.2.6.1.3 Rest of South America
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 6.4.1 China Petroleum & Chemical Corporation
- 6.4.2 DuPont
- 6.4.3 Huvis Corp.
- 6.4.4 Hyosung Advanced Materials
- 6.4.5 JSC "Kamenskvolokno"
- 6.4.6 Kolon Industries, Inc.
- 6.4.7 Taekwang Industrial Co., Ltd
- 6.4.8 Teijin Limited
- 6.4.9 X-FIPER New Material Co., Ltd
- 6.4.10 Yantai Tayho Advanced Materials Co.,Ltd.
7. KEY STRATEGIC QUESTIONS FOR ENGINEERING PLASTICS CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework (Industry Attractiveness Analysis)
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- PRODUCTION REVENUE OF AEROSPACE COMPONENTS, USD, GLOBAL, 2017 - 2029
- Figure 2:
- PRODUCTION VOLUME OF AUTOMOBILES, UNITS, GLOBAL, 2017 - 2029
- Figure 3:
- FLOOR AREA OF NEW CONSTRUCTION, SQUARE FEET, GLOBAL, 2017 - 2029
- Figure 4:
- PRODUCTION REVENUE OF ELECTRICAL AND ELECTRONICS, USD, GLOBAL, 2017 - 2029
- Figure 5:
- PRODUCTION VOLUME OF PLASTIC PACKAGING, TONS, GLOBAL, 2017 - 2029
- Figure 6:
- VOLUME OF ARAMID CONSUMED, TONS, GLOBAL, 2017 - 2029
- Figure 7:
- VALUE OF ARAMID CONSUMED, USD, GLOBAL, 2017 - 2029
- Figure 8:
- VOLUME OF ARAMID CONSUMED BY END USER INDUSTRY, TONS, GLOBAL, 2017 - 2029
- Figure 9:
- VALUE OF ARAMID CONSUMED BY END USER INDUSTRY, USD, GLOBAL, 2017 - 2029
- Figure 10:
- VOLUME SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, GLOBAL, 2017, 2023, AND 2029
- Figure 11:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, GLOBAL, 2017, 2023, AND 2029
- Figure 12:
- VOLUME OF ARAMID CONSUMED IN AEROSPACE INDUSTRY, TONS, GLOBAL, 2017 - 2029
- Figure 13:
- VALUE OF ARAMID CONSUMED IN AEROSPACE INDUSTRY, USD, GLOBAL, 2017 - 2029
- Figure 14:
- VALUE SHARE OF ARAMID CONSUMED IN AEROSPACE INDUSTRY BY REGION, %, GLOBAL, 2022 VS 2029
- Figure 15:
- VOLUME OF ARAMID CONSUMED IN AUTOMOTIVE INDUSTRY, TONS, GLOBAL, 2017 - 2029
- Figure 16:
- VALUE OF ARAMID CONSUMED IN AUTOMOTIVE INDUSTRY, USD, GLOBAL, 2017 - 2029
- Figure 17:
- VALUE SHARE OF ARAMID CONSUMED IN AUTOMOTIVE INDUSTRY BY REGION, %, GLOBAL, 2022 VS 2029
- Figure 18:
- VOLUME OF ARAMID CONSUMED IN ELECTRICAL AND ELECTRONICS INDUSTRY, TONS, GLOBAL, 2017 - 2029
- Figure 19:
- VALUE OF ARAMID CONSUMED IN ELECTRICAL AND ELECTRONICS INDUSTRY, USD, GLOBAL, 2017 - 2029
- Figure 20:
- VALUE SHARE OF ARAMID CONSUMED IN ELECTRICAL AND ELECTRONICS INDUSTRY BY REGION, %, GLOBAL, 2022 VS 2029
- Figure 21:
- VOLUME OF ARAMID CONSUMED IN INDUSTRIAL AND MACHINERY INDUSTRY, TONS, GLOBAL, 2017 - 2029
- Figure 22:
- VALUE OF ARAMID CONSUMED IN INDUSTRIAL AND MACHINERY INDUSTRY, USD, GLOBAL, 2017 - 2029
- Figure 23:
- VALUE SHARE OF ARAMID CONSUMED IN INDUSTRIAL AND MACHINERY INDUSTRY BY REGION, %, GLOBAL, 2022 VS 2029
- Figure 24:
- VOLUME OF ARAMID CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, TONS, GLOBAL, 2017 - 2029
- Figure 25:
- VALUE OF ARAMID CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, USD, GLOBAL, 2017 - 2029
- Figure 26:
- VALUE SHARE OF ARAMID CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY BY REGION, %, GLOBAL, 2022 VS 2029
- Figure 27:
- VOLUME OF ARAMID CONSUMED BY REGION, TONS, GLOBAL, 2017 - 2029
- Figure 28:
- VALUE OF ARAMID CONSUMED BY REGION, USD, GLOBAL, 2017 - 2029
- Figure 29:
- VOLUME SHARE OF ARAMID CONSUMED BY REGION, %, GLOBAL, 2017, 2023, AND 2029
- Figure 30:
- VALUE SHARE OF ARAMID CONSUMED BY REGION, %, GLOBAL, 2017, 2023, AND 2029
- Figure 31:
- VOLUME OF ARAMID CONSUMED BY COUNTRY, TONS, AFRICA, 2017 - 2029
- Figure 32:
- VALUE OF ARAMID CONSUMED BY COUNTRY, USD, AFRICA, 2017 - 2029
- Figure 33:
- VOLUME SHARE OF ARAMID CONSUMED BY COUNTRY, %, AFRICA, 2017, 2023, AND 2029
- Figure 34:
- VALUE SHARE OF ARAMID CONSUMED BY COUNTRY, %, AFRICA, 2017, 2023, AND 2029
- Figure 35:
- VOLUME OF ARAMID CONSUMED, TONS, NIGERIA, 2017 - 2029
- Figure 36:
- VALUE OF ARAMID CONSUMED, USD, NIGERIA, 2017 - 2029
- Figure 37:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, NIGERIA, 2022 VS 2029
- Figure 38:
- VOLUME OF ARAMID CONSUMED, TONS, SOUTH AFRICA, 2017 - 2029
- Figure 39:
- VALUE OF ARAMID CONSUMED, USD, SOUTH AFRICA, 2017 - 2029
- Figure 40:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, SOUTH AFRICA, 2022 VS 2029
- Figure 41:
- VOLUME OF ARAMID CONSUMED, TONS, REST OF AFRICA, 2017 - 2029
- Figure 42:
- VALUE OF ARAMID CONSUMED, USD, REST OF AFRICA, 2017 - 2029
- Figure 43:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, REST OF AFRICA, 2022 VS 2029
- Figure 44:
- VOLUME OF ARAMID CONSUMED BY COUNTRY, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 45:
- VALUE OF ARAMID CONSUMED BY COUNTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 46:
- VOLUME SHARE OF ARAMID CONSUMED BY COUNTRY, %, ASIA-PACIFIC, 2017, 2023, AND 2029
- Figure 47:
- VALUE SHARE OF ARAMID CONSUMED BY COUNTRY, %, ASIA-PACIFIC, 2017, 2023, AND 2029
- Figure 48:
- VOLUME OF ARAMID CONSUMED, TONS, AUSTRALIA, 2017 - 2029
- Figure 49:
- VALUE OF ARAMID CONSUMED, USD, AUSTRALIA, 2017 - 2029
- Figure 50:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, AUSTRALIA, 2022 VS 2029
- Figure 51:
- VOLUME OF ARAMID CONSUMED, TONS, CHINA, 2017 - 2029
- Figure 52:
- VALUE OF ARAMID CONSUMED, USD, CHINA, 2017 - 2029
- Figure 53:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, CHINA, 2022 VS 2029
- Figure 54:
- VOLUME OF ARAMID CONSUMED, TONS, INDIA, 2017 - 2029
- Figure 55:
- VALUE OF ARAMID CONSUMED, USD, INDIA, 2017 - 2029
- Figure 56:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, INDIA, 2022 VS 2029
- Figure 57:
- VOLUME OF ARAMID CONSUMED, TONS, JAPAN, 2017 - 2029
- Figure 58:
- VALUE OF ARAMID CONSUMED, USD, JAPAN, 2017 - 2029
- Figure 59:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, JAPAN, 2022 VS 2029
- Figure 60:
- VOLUME OF ARAMID CONSUMED, TONS, MALAYSIA, 2017 - 2029
- Figure 61:
- VALUE OF ARAMID CONSUMED, USD, MALAYSIA, 2017 - 2029
- Figure 62:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, MALAYSIA, 2022 VS 2029
- Figure 63:
- VOLUME OF ARAMID CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 64:
- VALUE OF ARAMID CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 65:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 66:
- VOLUME OF ARAMID CONSUMED, TONS, REST OF ASIA-PACIFIC, 2017 - 2029
- Figure 67:
- VALUE OF ARAMID CONSUMED, USD, REST OF ASIA-PACIFIC, 2017 - 2029
- Figure 68:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, REST OF ASIA-PACIFIC, 2022 VS 2029
- Figure 69:
- VOLUME OF ARAMID CONSUMED BY COUNTRY, TONS, EUROPE, 2017 - 2029
- Figure 70:
- VALUE OF ARAMID CONSUMED BY COUNTRY, USD, EUROPE, 2017 - 2029
- Figure 71:
- VOLUME SHARE OF ARAMID CONSUMED BY COUNTRY, %, EUROPE, 2017, 2023, AND 2029
- Figure 72:
- VALUE SHARE OF ARAMID CONSUMED BY COUNTRY, %, EUROPE, 2017, 2023, AND 2029
- Figure 73:
- VOLUME OF ARAMID CONSUMED, TONS, FRANCE, 2017 - 2029
- Figure 74:
- VALUE OF ARAMID CONSUMED, USD, FRANCE, 2017 - 2029
- Figure 75:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, FRANCE, 2022 VS 2029
- Figure 76:
- VOLUME OF ARAMID CONSUMED, TONS, GERMANY, 2017 - 2029
- Figure 77:
- VALUE OF ARAMID CONSUMED, USD, GERMANY, 2017 - 2029
- Figure 78:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, GERMANY, 2022 VS 2029
- Figure 79:
- VOLUME OF ARAMID CONSUMED, TONS, ITALY, 2017 - 2029
- Figure 80:
- VALUE OF ARAMID CONSUMED, USD, ITALY, 2017 - 2029
- Figure 81:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, ITALY, 2022 VS 2029
- Figure 82:
- VOLUME OF ARAMID CONSUMED, TONS, RUSSIA, 2017 - 2029
- Figure 83:
- VALUE OF ARAMID CONSUMED, USD, RUSSIA, 2017 - 2029
- Figure 84:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, RUSSIA, 2022 VS 2029
- Figure 85:
- VOLUME OF ARAMID CONSUMED, TONS, UNITED KINGDOM, 2017 - 2029
- Figure 86:
- VALUE OF ARAMID CONSUMED, USD, UNITED KINGDOM, 2017 - 2029
- Figure 87:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, UNITED KINGDOM, 2022 VS 2029
- Figure 88:
- VOLUME OF ARAMID CONSUMED, TONS, REST OF EUROPE, 2017 - 2029
- Figure 89:
- VALUE OF ARAMID CONSUMED, USD, REST OF EUROPE, 2017 - 2029
- Figure 90:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, REST OF EUROPE, 2022 VS 2029
- Figure 91:
- VOLUME OF ARAMID CONSUMED BY COUNTRY, TONS, MIDDLE EAST, 2017 - 2029
- Figure 92:
- VALUE OF ARAMID CONSUMED BY COUNTRY, USD, MIDDLE EAST, 2017 - 2029
- Figure 93:
- VOLUME SHARE OF ARAMID CONSUMED BY COUNTRY, %, MIDDLE EAST, 2017, 2023, AND 2029
- Figure 94:
- VALUE SHARE OF ARAMID CONSUMED BY COUNTRY, %, MIDDLE EAST, 2017, 2023, AND 2029
- Figure 95:
- VOLUME OF ARAMID CONSUMED, TONS, SAUDI ARABIA, 2017 - 2029
- Figure 96:
- VALUE OF ARAMID CONSUMED, USD, SAUDI ARABIA, 2017 - 2029
- Figure 97:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, SAUDI ARABIA, 2022 VS 2029
- Figure 98:
- VOLUME OF ARAMID CONSUMED, TONS, UNITED ARAB EMIRATES, 2017 - 2029
- Figure 99:
- VALUE OF ARAMID CONSUMED, USD, UNITED ARAB EMIRATES, 2017 - 2029
- Figure 100:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, UNITED ARAB EMIRATES, 2022 VS 2029
- Figure 101:
- VOLUME OF ARAMID CONSUMED, TONS, REST OF MIDDLE EAST, 2017 - 2029
- Figure 102:
- VALUE OF ARAMID CONSUMED, USD, REST OF MIDDLE EAST, 2017 - 2029
- Figure 103:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, REST OF MIDDLE EAST, 2022 VS 2029
- Figure 104:
- VOLUME OF ARAMID CONSUMED BY COUNTRY, TONS, NORTH AMERICA, 2017 - 2029
- Figure 105:
- VALUE OF ARAMID CONSUMED BY COUNTRY, USD, NORTH AMERICA, 2017 - 2029
- Figure 106:
- VOLUME SHARE OF ARAMID CONSUMED BY COUNTRY, %, NORTH AMERICA, 2017, 2023, AND 2029
- Figure 107:
- VALUE SHARE OF ARAMID CONSUMED BY COUNTRY, %, NORTH AMERICA, 2017, 2023, AND 2029
- Figure 108:
- VOLUME OF ARAMID CONSUMED, TONS, CANADA, 2017 - 2029
- Figure 109:
- VALUE OF ARAMID CONSUMED, USD, CANADA, 2017 - 2029
- Figure 110:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, CANADA, 2022 VS 2029
- Figure 111:
- VOLUME OF ARAMID CONSUMED, TONS, MEXICO, 2017 - 2029
- Figure 112:
- VALUE OF ARAMID CONSUMED, USD, MEXICO, 2017 - 2029
- Figure 113:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, MEXICO, 2022 VS 2029
- Figure 114:
- VOLUME OF ARAMID CONSUMED, TONS, UNITED STATES, 2017 - 2029
- Figure 115:
- VALUE OF ARAMID CONSUMED, USD, UNITED STATES, 2017 - 2029
- Figure 116:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, UNITED STATES, 2022 VS 2029
- Figure 117:
- VOLUME OF ARAMID CONSUMED BY COUNTRY, TONS, SOUTH AMERICA, 2017 - 2029
- Figure 118:
- VALUE OF ARAMID CONSUMED BY COUNTRY, USD, SOUTH AMERICA, 2017 - 2029
- Figure 119:
- VOLUME SHARE OF ARAMID CONSUMED BY COUNTRY, %, SOUTH AMERICA, 2017, 2023, AND 2029
- Figure 120:
- VALUE SHARE OF ARAMID CONSUMED BY COUNTRY, %, SOUTH AMERICA, 2017, 2023, AND 2029
- Figure 121:
- VOLUME OF ARAMID CONSUMED, TONS, ARGENTINA, 2017 - 2029
- Figure 122:
- VALUE OF ARAMID CONSUMED, USD, ARGENTINA, 2017 - 2029
- Figure 123:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, ARGENTINA, 2022 VS 2029
- Figure 124:
- VOLUME OF ARAMID CONSUMED, TONS, BRAZIL, 2017 - 2029
- Figure 125:
- VALUE OF ARAMID CONSUMED, USD, BRAZIL, 2017 - 2029
- Figure 126:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, BRAZIL, 2022 VS 2029
- Figure 127:
- VOLUME OF ARAMID CONSUMED, TONS, REST OF SOUTH AMERICA, 2017 - 2029
- Figure 128:
- VALUE OF ARAMID CONSUMED, USD, REST OF SOUTH AMERICA, 2017 - 2029
- Figure 129:
- VALUE SHARE OF ARAMID CONSUMED BY END USER INDUSTRY, %, REST OF SOUTH AMERICA, 2022 VS 2029
- Figure 130:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, GLOBAL, 2019 - 2021
- Figure 131:
- MOST ADOPTED STRATEGIES, COUNT, GLOBAL, 2019 - 2021
- Figure 132:
- PRODUCTION CAPACITY SHARE OF ARAMID BY MAJOR PLAYERS, %, GLOBAL, 2022
Aramids Industry Segmentation
Aerospace, Automotive, Electrical and Electronics, Industrial and Machinery are covered as segments by End User Industry. Africa, Asia-Pacific, Europe, Middle East, North America, South America are covered as segments by Region.
- Aramids are sub-resins of polyamide that contain over 85% of an amide bond. They are known for their lightweight, high-strength, high-modulus, high-temperature resistance, and excellent corrosion resistance properties. Their consumption was recorded to be the highest in 2022, with a 9.91% increase in volume over 2021, primarily due to significantly higher demand from the automotive and industrial machinery end-user industry segments.
- The electrical and electronics industry is the largest end-user segment for aramids. It is a highly desirable material for applications such as tough and highly thermal-resistant electrical insulation, certain components in electronics, and primarily in optical fiber and cable reinforcement as a binder. Such high demand from the industry is attributed to the internet's popularity, usability, and dependability, which have increased dramatically over recent years, catalyzing the market for optical fiber cables globally. The demand for aramids is expected to grow at the fastest rate in the electrical and electronics industry, with an anticipated CAGR of 8.4% by value during the forecast period (2023-2029).
- The automotive industry is the second-largest segment of the aramids market, with a share of around 26%. This is owing majorly to properties such as high strength, low flammability, and superior resistance to abrasion and organic solvents. These properties make aramids highly beneficial for applications such as automobile hoses, belts, tire reinforcement, transmission boxes, braking systems, vehicle armor, and airbags. Reductions in rolling resistance, energy usage, and emissions are the significant advantages imparted by aramids in the automotive end-user industry segment, which is projected to register a CAGR of 6.08% by value during the forecast period (2023-2029).
| End User Industry | Aerospace | ||
| Automotive | |||
| Electrical and Electronics | |||
| Industrial and Machinery | |||
| Other End-user Industries | |||
| Region | Africa | By Country | Nigeria |
| South Africa | |||
| Rest of Africa | |||
| Region | Asia-Pacific | By Country | Australia |
| China | |||
| India | |||
| Japan | |||
| Malaysia | |||
| South Korea | |||
| Rest of Asia-Pacific | |||
| Region | Europe | By Country | France |
| Germany | |||
| Italy | |||
| Russia | |||
| United Kingdom | |||
| Rest of Europe | |||
| Region | Middle East | By Country | Saudi Arabia |
| United Arab Emirates | |||
| Rest of Middle East | |||
| Region | North America | By Country | Canada |
| Mexico | |||
| United States | |||
| Region | South America | By Country | Argentina |
| Brazil | |||
| Rest of South America |
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Market Definition
- End-user Industry - Automotive, Electrical & Electronics, Industrial & Machinery, Aerospace, and Others are the end-user industries considered under the aramid market.
- Resin - Under the scope of the study, consumption of virgin aramid resin in the primary forms such as powder, pellet, etc. are considered.
| Keyword | Definition |
|---|---|
| Acetal | This is a rigid material that has a slippery surface. It can easily withstand wear and tear in abusive work environments. This polymer is used for building applications such as gears, bearings, valve components, etc. |
| Acrylic | This synthetic resin is a derivative of acrylic acid. It forms a smooth surface and is mainly used for various indoor applications. The material can also be used for outdoor applications with a special formulation. |
| Cast film | A cast film is made by depositing a layer of plastic onto a surface then solidifying and removing the film from that surface. The plastic layer can be in molten form, in a solution, or in dispersion. |
| Colorants & Pigments | Colorants & Pigments are additives used to change the color of the plastic. They can be a powder or a resin/color premix. |
| Composite material | A composite material is a material that is produced from two or more constituent materials. These constituent materials have dissimilar chemical or physical properties and are merged to create a material with properties unlike the individual elements. |
| Degree of Polymerization (DP) | The number of monomeric units in a macromolecule, polymer, or oligomer molecule is referred to as the degree of polymerization or DP. Plastics with useful physical properties often have DPs in the thousands. |
| Dispersion | To create a suspension or solution of material in another substance, fine, agglomerated solid particles of one substance are dispersed in a liquid or another substance to form a dispersion. |
| Fiberglass | Fiberglass-reinforced plastic is a material made up of glass fibers embedded in a resin matrix. These materials have high tensile and impact strength. Handrails and platforms are two examples of lightweight structural applications that use standard fiberglass. |
| Fiber-reinforced polymer (FRP) | Fiber-reinforced polymer is a composite material made of a polymer matrix reinforced with fibers. The fibers are usually glass, carbon, aramid, or basalt. |
| Flake | This is a dry, peeled-off piece, usually with an uneven surface, and is the base of cellulosic plastics. |
| Fluoropolymers | This is a fluorocarbon-based polymer with multiple carbon-fluorine bonds. It is characterized by high resistance to solvents, acids, and bases. These materials are tough yet easy to machine. Some of the popular fluoropolymers are PTFE, ETFE, PVDF, PVF, etc. |
| Kevlar | Kevlar is the commonly referred name for aramid fiber, which was initially a Dupont brand for aramid fiber. Any group of lightweight, heat-resistant, solid, synthetic, aromatic polyamide materials that are fashioned into fibers, filaments, or sheets is called aramid fiber. They are classified into Para-aramid and Meta-aramid. |
| Laminate | A structure or surface composed of sequential layers of material bonded under pressure and heat to build up to the desired shape and width. |
| Nylon | They are synthetic fiber-forming polyamides formed into yarns and monofilaments. These fibers possess excellent tensile strength, durability, and elasticity. They have high melting points and can resist chemicals and various liquids. |
| PET preform | A preform is an intermediate product that is subsequently blown into a polyethylene terephthalate (PET) bottle or a container. |
| Plastic compounding | Compounding consists of preparing plastic formulations by mixing and/or blending polymers and additives in a molten state to achieve the desired characteristics. These blends are automatically dosed with fixed setpoints usually through feeders/hoppers. |
| Plastic pellets | Plastic pellets, also known as pre-production pellets or nurdles, are the building blocks for nearly every product made of plastic. |
| Polymerization | It is a chemical reaction of several monomer molecules to form polymer chains that form stable covalent bonds. |
| Styrene Copolymers | A copolymer is a polymer derived from more than one species of monomer, and a styrene copolymer is a chain of polymers consisting of styrene and acrylate. |
| Thermoplastics | Thermoplastics are defined as polymers that become soft material when it is heated and becomes hard when it is cooled. Thermoplastics have wide-ranging properties and can be remolded and recycled without affecting their physical properties. |
| Virgin Plastic | It is a basic form of plastic that has never been used, processed, or developed. It may be considered more valuable than recycled or already used materials. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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