Europe Aramid Fibers Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Aramid Fibers Market Analysis
The Europe aramid fiber market is estimated to witness a significant growth, at an estimated CAGR of around 5%, over the forecast period. Major factor driving the market studied is the growing need for fuel efficiency. On the flipside, the availability of alternatives with better properties is expected to hinder the growth of the market studied.
- The aerospace and defense sector dominated the aramid fibers market and is expected to grow at a fastest rate during the forecast period.
- Emerging applications in the optical fiber industry are likely to act as an opportunity in the future.
- Germany accounted for the largest market share and is expected to continue domination during the forecast period.
Europe Aramid Fibers Market Trends
This section covers the major market trends shaping the Europe Aramid Fibers Market according to our research experts:
Aerospace and Defence Sector Dominated the Market
- Aramids are used for both components and structural applications, in all aircraft and spacecraft, ranging from hot air balloons, gliders, etc., to fighter planes, passenger airliners, and space shuttles. Applications of aramid fibers are generally in wing assemblies, helicopter rotor blades, seat propellers, and enclosures for instruments and internal parts.
- With ever-increasing fuel costs and environmental lobbying, commercial flying is under constant pressure to improve performance, and weight reduction is a key factor in the equation. Aramid fiber presented a solution to this equation as it is lightweight and promotes fuel efficiency. Other positive attributes include excellent fatigue and corrosion resistance and good impact resistance.
- Every year, the aerospace industry uses a higher proportion of aramid fibers in the construction of each new generation of aircraft due to the provision of an all-weather operation of commercial aircraft and enhanced vision systems. Moreover, characteristics, such as temperature stability and durability, will further fuel the growth of the aerospace composites market over the coming years.
- With the increasing security concerns and increasing commercial use of aircraft as a medium of conveyance, the demand for aircraft has been increasing across the region. With this, various aircraft production orders have been lined up for delivery in the coming years.
- For instance, according to Boeing, by 2038, the deliverables of commercial aircraft are expected to reach about 8,990 units in Europe.
- Hence, with the production of aircraft to deliver the aircraft orders from the defense as well as the aviation industry, the demand for aramid fiber is projected to increase in the region, during the forecast period.
Germany to Dominate the Market
- Germany leads Europe's automotive market with 41 assembly and engine production plants that contribute to one third of the total automobile production in Europe. Germany, being one of the leading manufacturing bases for the aircraft industry, is the home to manufacturers from different segments, such as equipment manufacturers, material and component suppliers, engine producers, and whole system integrators.
- The German aerospace industry comprises more than 2,300 firms located all around the country, with northern Germany being the area with a higher concentration of firms.
- Germany, being one of the leading manufacturing bases for the aircraft industry, is home to manufacturers from different segments, such as equipment manufacturers, material and component suppliers, engine producers, and whole system integrators.
- The country hosts a large number of production bases for aircraft interior components, MRO (maintenance, repair, and overhaul), and lightweight construction and materials, largely in Bavaria, Bremen, Baden-Württemberg, and Mecklenburg-Vorpommern.
- It has been estimated that over 30 to 35 thousand new aircraft will be operational by the next 20 years, in order to meet the rising aviation demand. Thus, with the increase in production of aircraft, the consumption of aramid fiber will increase during the forecast period.
- Overall, with the growing demand from various end-user industries is projected to drive the market in the country during the forecast period.
Europe Aramid Fibers Industry Overview
The Europe aramid fiber market is highly consolidated. The major companies include Teijin Aramid B.V., Dupont, HYOSUNG, and TORAY INDUSTRIES, INC., among others.
Europe Aramid Fibers Market Leaders
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Teijin Aramid B.V.
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Dupont
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HYOSUNG
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TORAY INDUSTRIES, INC.
*Disclaimer: Major Players sorted in no particular order
Europe Aramid Fibers Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Growing Need for Fuel Efficiency
- 4.1.2 Increasing Expenditure on Defense by Germany and France
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4.2 Restraints
- 4.2.1 Available Alternatives with Better Properties
- 4.2.2 Other Restraints
- 4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
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5.1 Product Type
- 5.1.1 Para-aramid
- 5.1.2 Meta-aramid
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5.2 End-user Industry
- 5.2.1 Aerospace and Defense
- 5.2.2 Automotive
- 5.2.3 Electronics and Telecommunication
- 5.2.4 Sporting Goods
- 5.2.5 Other End-user Industries
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5.3 Geography
- 5.3.1 Germany
- 5.3.2 United Kingdom
- 5.3.3 Italy
- 5.3.4 France
- 5.3.5 Spain
- 5.3.6 Rest of Europe
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Dupont
- 6.4.2 Huvis
- 6.4.3 HYOSUNG
- 6.4.4 KERMEL
- 6.4.5 Teijin Aramid B.V.
- 6.4.6 TORAY INDUSTRIES, INC.
- 6.4.7 YF International bv
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Growing Demand from the Aerospace Sector
- 7.2 Emerging Applications in the Optical Fiber Industry
Europe Aramid Fibers Industry Segmentation
The Europe aramid fiber market report includes:
| Product Type | Para-aramid |
| Meta-aramid | |
| End-user Industry | Aerospace and Defense |
| Automotive | |
| Electronics and Telecommunication | |
| Sporting Goods | |
| Other End-user Industries | |
| Geography | Germany |
| United Kingdom | |
| Italy | |
| France | |
| Spain | |
| Rest of Europe |
Europe Aramid Fibers Market Research FAQs
What is the current Europe Aramid Fiber Market size?
The Europe Aramid Fiber Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Europe Aramid Fiber Market?
Teijin Aramid B.V., Dupont, HYOSUNG and TORAY INDUSTRIES, INC. are the major companies operating in the Europe Aramid Fiber Market.
What years does this Europe Aramid Fiber Market cover?
The report covers the Europe Aramid Fiber Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Aramid Fiber Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Aramid Fibers Industry Report
Statistics for the 2024 Europe Aramid Fibers market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Aramid Fibers analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
