The Global Aramid Fiber Reinforcement Materials Market size valued to USD 3.73 billion in 2019, shall garner USD 7.83 billion by 2030, with a growing CAGR of 6.7% from 2020-2030. Aramid fiber reinforced materials are a class of heat-resistant and strong synthetic fibers made of a polymer matrix reinforced with aramid fibers; having an extremely high melting point of more than 500 °C. Due to its characteristics like high temperature resistance, high elastic modulus, high abrasion resistance and high tensile strength, it holds wide applications in end-users like aerospace & defense, automotive, consumer goods, marine, and others. In the defense sector it is majorly used to make body armour fabrics or bulletproof vests and other ballistic composites. Market Segmentations and Scope of the Study: The global aramid fiber reinforcement materials market share analysis is based on type, end use industry, and geography. Based on type, the market is segmented into Para-Aramid Fibers, Meta-Aramid Fibers, and Others. Based on end use, the market is divided into Aerospace & Defense, Automotive, Consumer Goods, Marine, and others. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Asia-Pacific, Europe, and RoW. Request for a free sample- https://www.nextmsc.com/aramid-fiber-reinforcementmaterials-market/request-sample Geographical Analysis North America has dominated the global aramid fiber reinforcement materials market in the past, and is expected to maintain its dominance throughout the forecast period, holding the highest market share. This is attributed to factors such as stringent regulations pertaining to the security and protection measures, growing number of refurbishing activities, presence of key market players in this region as well as growing demand of these materials from the transportation and protective clothing sector. Asia Pacific is expected to be the fastest developing region owing to the presence of developing economies, increased urbanization, and growing demand of IoT and telecommunication in this region. Furthermore, developments of industrial sectors such as automotive, electronics, aviation and others raise the demand of aramid fiber on a large scale, this in-turn shall supplement the growth of the aramid fiber reinforcement materials market, over the forecast period. Inquire
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materials-market/inquire-before-buying Competitive Landscape
The aramid fiber reinforcement materials market, which is highly competitive, consist various market players. Some of the major market players include E. I. du Pont de Nemours and Company, Teijin Ltd., Kolon Industries, Inc., Honeywell International Inc., SRO Aramid (Jiangsu) Co., Ltd., Hyosung Corporation, Toray Industries, Inc., Yantai Tayho Advanced materials Co., Ltd., Ibiden Co., Ltd., and Huvis Corporation, among others. The past endeavors and futuristic advancements, sum-up to comprehend the overall growth of the global aramid fiber reinforcement materials market. For instance, in January 2020 CFK Recycling firm, based in German was winner of the Sustainable Industry Challenge – Chemport Europe edition, for developing a method for sustainably recycling carbon fibres. CFK Recycling won € 100,000 to spend on Teijin Aramid’s sustainability challenge by recycling aramid. Furthermore, in March 2020, one of the key players of the global aramid fiber reinforcement materials market, Kolon Industries, SKC sold stakes in their joint venture SKC Kolon PI, a PI a polyimide film company, for some 300 billion won ($250 million) in a bid to acquire seed funding to nurture new businesses. Kosdaq-listed SKC Kolon PI is the world’s largest polyimide film manufacturing company. This strategic stake sell-off aims at propelling the company’s fast-growing aramid fiber and transparent PI film businesses. The company also expects to invest in R&D projects and to propel the manufacturing lines. While trying to achieve organic growth with its internal capabilities, it will also seek for inorganic growth via M&As and strategic partnerships. About Us: Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics. We carefully analyze the historical data, augment it by constantly keeping an eye on the latest industry trends and estimate the future events to arrive at accurate market forecasts. For more insights, please visit, https://www.nextmsc.com
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