Para-aramid Fibers Industry Overview
The global para-aramid fibers market size was estimated at USD 3.21 billion in 2023 and is anticipated to grow at a CAGR of 7.9% from 2024 to 2030.
This market is expected to witness substantial growth owing to its superior properties, including high strength and rigid molecular structure, which drive product use in security and protection applications.
Increasing demand for protective headgear, eye protection equipment, and safety harnesses is anticipated to propel product demand over the coming years. The product is supplied through wholesalers, retailers, direct agreements between players and distributors, or through third-party supply agreements. E. I. du Pont de Nemours Company and Teijin Ltd. are major product manufacturers and suppliers across the globe that are forward-integrated across the value chain.
Gather more insights about the market drivers, restrains and growth of the Para-aramid Fibers Market
Various companies are involved in the development of low-cost and technologically advanced aramid fiber products. Hand lay-up, vacuum bagging, vacuum infusion, RTM, RTM light, press molding, filament winding, and pultrusion are some of the methods adopted for product manufacturing.
The threat of substitutes is anticipated to remain medium over the forecast period. Carbon and glass fibers can be used as alternatives to aramid fibers depending on the requirements of various application segments. In addition, most end users prefer aramid-based products over other synthetic fibers on account of their excellent chemical, mechanical, and thermal properties.
Product manufacturers face numerous challenges, elevated manufacturing costs, and low production efficiency, deter growth. Factors including high production cost, high initial investment, and inconsistent raw material supply are also expected to hamper market growth, thereby discouraging the entry of new players in this market.
Browse through Grand View Research's Specialty Glass, Ceramic & Fiber Industry Research Reports.
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Para-Aramid Fibers Market Segmentation
Grand View Research has segmented the global para-aramid fibers market based on application and region:
Para-aramid Fibers Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)
- Security & Protection
- Optical Fibers
- Friction Material
- Rubber Reinforcement
- Tire Reinforcement
- Others
Para-aramid Fibers Regional Outlook (Volume, Tons; Revenue, USD Million; 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Asia Pacific
- China
- India
- South Korea
- Japan
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
Key Companies profiled:
- Teijin Limited
- Yantai Tayho Advanced Materials Co., Ltd.
- DuPont
- Kolon Industries, Inc.
- HYOSUNG ADVANCED MATERIALS
- TAEKWANG Industrial Co., Ltd.
- Davy Textiles Ltd.
- AFCHINA
- Artec
- Guangzhou Green New Materials Co., Ltd.
Key Para-aramid Fibers Company Insights
Some of the key players operating in this market include Teijin Limited and DuPont:
- Teijin Limited sells its products through seven business segments, namely, high-performance materials, composites, fiber & product converting, healthcare, IT, and others.
- DuPont operates through three business segments: water solutions, safety solutions, and shelter solutions. It has a presence in North America, Asia Pacific, Europe, the Middle East, South America, and Africa.
- Kolon Industries, Inc. and TAEKWANG Industrial Co., Ltd. are some of the emerging market participants in the market.
- Kolon Industries, Inc. has four major divisions: industrial materials, chemicals, films/electronic materials, and fashion.
- TAEKWANG Industrial Co., Ltd. operates through four business segments: fiber, petrochemical, advanced materials, and textile. In 2015, the company started producing para-aramid fibers and para-aramid filament yarn with an annual production capacity of 1,000 tons.
Recent Developments
- In June 2023, Teijin Limited started the first industrial production plant for manufacturing Twaron using recycled feedstock materials. The fiber produced with recycled materials delivers the same characteristics as the original Twaron fiber. Furthermore, this innovation marks the company's first step in including a high percentage of recycled material in the production of Twaron.
- In April 2023, DuPont launched Kevlar EXO aramid fiber, featuring first-in-class ballistic and thermal resistance of up to 500 degrees C, which is lightweight and flexible. Kevlar EXO is stated to have a life of five years.
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