North America Aramid Fiber Market Size (2024 - 2029)

North America Aramid Fiber Market Analysis

The North America Aramid Fiber Market size is estimated at USD 1.46 billion in 2024, and is expected to reach USD 1.91 billion by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).

The North America Aramid Fibers Market had been negatively affected by the COVID-19 pandemic. The United States was worst hit by the COVID pandemic in the region. The COVID pandemic resulted in lockdowns in the United States, Canada, and Mexico, affecting the automotive, electrical and electronics, aerospace, and defense end-user industries, thereby affecting the market for aramid fibers. However, the market recovered well after the restrictions were lifted. The market recovered significantly, owing to the rise in consumption of aramid fibers in automotive, electrical, and electronics end-user industries.

• Over the short term, the increasing demand for lightweight materials in aerospace and defense industries, the increase in demand for lightweight materials in the automotive industry, and the rising usage of aramid fibers as a potential substitute for steel materials are excepted to drive the market.
• The non-biodegradable nature of aramid fibers and the increasing prices of raw materials are hindering market growth.
• The advancements in aramid materials manufacturing technology are expected to create opportunities for the market during the forecast period.
• The United States is expected to dominate the market due to the rising demand for aramid fibers from automotive, aerospace and defense, electrical, and electronics end-user industries. It is also expected to register the highest CAGR during the forecast period.

North America Aramid Fiber Industry Segmentation

Aramid fiber is an artificial, high-performance organic fiber manufactured from aromatic polyamides. The critical characteristics of aramid fiber include high strength, good resistance to heat, abrasion, and organic solvents, non-conductivity, and low flammability. It is mainly used for composites, ballistics, optical fiber cables, protective clothing against heat and chemicals, and others.

The North America aramid fiber market is segmented by product type, end-user industry, and geography. By product type, the market is segmented into para-aramid and meta-aramid. By end-user industry, the market is segmented into aerospace and defense, automotive, electrical and electronics, sporting goods, and other end-user industries (oil & gas, telecommunications, etc.).By geography, the market is segmented into the United States, Canada, and Mexico. The report also covers the market size and forecasts for the North America Aramid Fiber market for 3 major countries. For each segment, the market sizing and forecasts are provided in terms of value (USD).