The worldwide aramid fibres market is expanding as the automotive, military, and aerospace sectors expand. Another element driving market expansion is the increasing need for lightweight materials for personal protective equipment. Aramid fibres are frequently utilised in bullet-resistant and stab-resistant devices. Increasing defence spending by various countries is propelling the aramid fibres industry forward. Another significant driver projected to propel market expansion is rising demand from the aerospace industry. The availability of alternatives with better features is projected to limit market growth. In some applications, LCP fibres, glass fibres, and carbon fibres outperform aramid fibres. Unfavourable conditions resulting from Covid-19's influence on the world economy are another key issue to be anticipated to limit the market growth. Industrial activity and plant development projects have been impacted globally as a result of the imposed shutdown to avoid the spread of virus. This has had a detrimental influence on the aramid fibre market.
According to Coherent Market Insights, The global Aramid Fibers Market size was valued at USD 4122.31 million in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 3.87% from 2022 to 2030.
Top Companies in the Aramid fibres industry:
1. China National Bluestar (Group) Co. Ltd
Manufacturer of chemical products and animal nutrition based in Beijing, China. The company's products include oil products, organic chemicals, silicone series, inorganic chemicals and fine chemicals, thereby serving the livestock industry. The company was founded in 1984, headquartered in Beijing, China.
2. DuPont
DuPont de Nemours, Inc. provides technology-based materials and solutions in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through Electronics & Industrial, Water & Protection, and Corporate & Other segments. DuPont de Nemours, Inc. is headquartered in Wilmington, Delaware. The comp any was founded in 1802. In February 2020, Dupont announced its plans to expand the global capacity of Nomex® Paper. This capacity expansion will be created through a joint venture partnership with Nippon Paper Papylia. The Papylia manufacturing facility will be located in Yufutsu, Japan, with commercial production beginning in 2021.
3. Hyosung
Hyosung Chemical Corporation produces and sells a range of chemical products in South Korea and internationally. Hyosung Chemical Corporation is headquartered in Seoul, South Korea. The company was founded in 1966. In February 2020, Hyosung Advanced Materials announces that they signed an MOU for investment in the expansion of the latter′s Aramid factory in Ulsan City. Under this MOU, Hyosung plans to invest a total of KRW 61.3 billion in its Aramid factory in Ulsan, finish the expansion by the first half of 2021, and expand the factory′s production capacity from 1,200 ton to 3,700 ton a year.
4. Kolon Industries Inc.
Kolon Industries, Inc. engages in industrial materials, chemicals, films/electronic materials, and fashion businesses. Kolon Industries, Inc. was founded in 1957 and is headquartered in Seoul, South Korea.
5. Shenma Industrial Co. Ltd
Shenma Industry is a producer of nylon rubber. They provide products that include engineering plastics, industrial yarn, BCF carpet yarn, and airbag yarn. Pillars, industrial structure raw, and auxiliary materials. The company was founded in 1993, headquartered in Henan, China.
6. Teijin Limited
Teijin Limited engages in the fibers, films and sheets, composites, healthcare, and IT businesses worldwide. Teijin Limited was incorporated in 1918 and is headquartered in Chiyoda, Japan.
7. Toray Industries Inc.
Toray Industries, Inc., together with its subsidiaries, manufactures, processes, and sells fibers and textiles, performance chemicals, carbon fiber composite materials, environment and engineering products, and life science products in Japan, China, North America, Europe, and internationally. The company was incorporated in 1926 and is headquartered in Tokyo, Japan.
8. Wuxi
WuXi Biologics (Cayman) Inc. provides end-to-end solutions and services for biologics discovery, development and manufacturing in the People's Republic of China, North America, Europe, and internationally. WuXi Biologics (Cayman) Inc. has strategic partnership with ImmuneOncia Therapeutics, Legochem Biosciences Inc, Worg Pharma, OncoC4, and Exelixis Inc. The company was incorporated in 2014 and is headquartered in Wuxi, China.
9. Yantai Tayho Advanced Materials Co. Ltd
Yantai Tayho Advanced Materials is a research, development, and production company of aromatic polyamide fiber. Their products include spandex, meta-aramid, and para-aramid, and used in diverse fields such as textiles, clothing, medical care, and automotive interiors. The company was founded in 1987, headquartered in Shandong, China.
*Definition- Aramid fibres has excellent thermal properties and can withstand temperatures up to 900 degrees Fahrenheit. It is also a long-lasting fabric with high cut and abrasion resistance. It is available in a variety of textiles, including woven and coated fabrics. Because of its great thermal resistance, it is very helpful in protective garments.
