Aramids Market Size

The aramids market is projected to experience significant growth, driven by its application in the automotive and electrical and electronics industries. Aramids, known for their lightweight, high-strength, and corrosion-resistant properties, are increasingly in demand for automotive components and electrical insulation applications. The Asia-Pacific region, particularly China and Japan, leads in market consumption due to their robust automotive and electronics sectors, with India also emerging as a key player. Europe follows, with substantial contributions from its aerospace and automotive industries. The Middle East is noted as the fastest-growing region, fueled by its expanding electrical and aerospace sectors.

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Market Size of aramids Industry

Aramids Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 2.64 Billion
svg icon Market Size (2029) USD 3.63 Billion
svg icon Largest Share by End User Industry Electrical and Electronics
svg icon CAGR (2024 - 2029) 6.52 %
svg icon Largest Share by Region Asia-Pacific

Major Players

Aramids Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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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

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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

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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

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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

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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

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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).
Global Aramids Market

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.

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
Asia-Pacific
By Country
Australia
China
India
Japan
Malaysia
South Korea
Rest of Asia-Pacific
Europe
By Country
France
Germany
Italy
Russia
United Kingdom
Rest of Europe
Middle East
By Country
Saudi Arabia
United Arab Emirates
Rest of Middle East
North America
By Country
Canada
Mexico
United States
South America
By Country
Argentina
Brazil
Rest of South America
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Aramids Market Size Summary

The aramids market is poised for significant growth, driven by their unique properties such as lightweight, high strength, and excellent resistance to high temperatures and corrosion. These characteristics make aramids highly sought after in various industries, particularly in the automotive and electrical and electronics sectors. The automotive industry benefits from aramids' durability and resistance to abrasion and organic solvents, making them ideal for applications like tire reinforcement and vehicle armor. Meanwhile, the electrical and electronics industry leverages aramids for their thermal resistance and strength, especially in optical fiber and cable reinforcement. The increasing demand for advanced technologies and consumer electronics is expected to further propel the market's expansion.

Regionally, Asia-Pacific dominates the aramids market, with China and Japan leading due to their robust automotive and electronics industries. The region's growth is supported by government initiatives in India to boost electronics production. Europe follows as the second-largest market, with significant contributions from Germany, Italy, and France, driven by the aerospace sector's investments. The Middle East is emerging as the fastest-growing market, fueled by advancements in the electrical and electronics and aerospace industries. The market is fairly consolidated, with major players like DuPont and Teijin Limited leading the charge in production capacity and technological advancements.

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Aramids Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Aerospace

      2. 1.1.2 Automotive

      3. 1.1.3 Electrical and Electronics

      4. 1.1.4 Industrial and Machinery

      5. 1.1.5 Other End-user Industries

    2. 1.2 Region

      1. 1.2.1 Africa

        1. 1.2.1.1 By Country

          1. 1.2.1.1.1 Nigeria

          2. 1.2.1.1.2 South Africa

          3. 1.2.1.1.3 Rest of Africa

      2. 1.2.2 Asia-Pacific

        1. 1.2.2.1 By Country

          1. 1.2.2.1.1 Australia

          2. 1.2.2.1.2 China

          3. 1.2.2.1.3 India

          4. 1.2.2.1.4 Japan

          5. 1.2.2.1.5 Malaysia

          6. 1.2.2.1.6 South Korea

          7. 1.2.2.1.7 Rest of Asia-Pacific

      3. 1.2.3 Europe

        1. 1.2.3.1 By Country

          1. 1.2.3.1.1 France

          2. 1.2.3.1.2 Germany

          3. 1.2.3.1.3 Italy

          4. 1.2.3.1.4 Russia

          5. 1.2.3.1.5 United Kingdom

          6. 1.2.3.1.6 Rest of Europe

      4. 1.2.4 Middle East

        1. 1.2.4.1 By Country

          1. 1.2.4.1.1 Saudi Arabia

          2. 1.2.4.1.2 United Arab Emirates

          3. 1.2.4.1.3 Rest of Middle East

      5. 1.2.5 North America

        1. 1.2.5.1 By Country

          1. 1.2.5.1.1 Canada

          2. 1.2.5.1.2 Mexico

          3. 1.2.5.1.3 United States

      6. 1.2.6 South America

        1. 1.2.6.1 By Country

          1. 1.2.6.1.1 Argentina

          2. 1.2.6.1.2 Brazil

          3. 1.2.6.1.3 Rest of South America

Aramids Market Size FAQs

The Global Aramids Market size is expected to reach USD 2.64 billion in 2024 and grow at a CAGR of 6.52% to reach USD 3.63 billion by 2029.

In 2024, the Global Aramids Market size is expected to reach USD 2.64 billion.

Aramids Market Report Snapshots

Aramids Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029