Meta-Aramid Market Size, Share, Growth, and Industry Analysis by Type (Raw White Fiber and Dope Dyed Fiber) By Application (Electrical Insulation, Protective Clothing, Filter Systems, Rubber Reinforcement and Other) Regional Forecast to 2028

Updated On: 13 November 2023

REPORT OVERVIEW

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The global meta-aramid market size was USD 0.614 billion in 2022. As per our research, the market is expected to reach USD 1.0811 billion in 2028, exhibiting a CAGR of 7.3% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre- pandemic levels once the pandemic is over.

The term "meta-aramid market" refers to the global sector of the economy that deals with the manufacture, sale, and use of fibers and materials made of meta-aramid. The remarkable heat resistance, flame retardancy, and strength of meta-aramid make it a high-performance synthetic fiber. It is frequently utilized in many applications where defense against intense heat, flame, and chemicals is necessary.

The manufacture of flame-resistant clothing, including firefighter suits, business attire, and uniforms for the military, heavily relies on the usage of meta-aramid fibers. These materials are appropriate for use by employees in hazardous settings because they offer good protection against heat and fire. Electrical insulation applications, particularly in wires and cables, use materials made of meta-aramid. Meta-aramid fibers can resist high temperatures and offer reliable insulation in electrical systems because of their strong dielectric strength and thermal stability. Meta-aramid materials are used in the automobile industry, notably in hoses, gaskets, and seals. Meta-aramid fibers provide the requisite qualities to endure engine temperatures and demanding working circumstances for these components, which need to be heat resistant and durable.

COVID-19 Impact: Decreased Demand from End-Use Industry to Limit the Market Demands

The pandemic caused demand from a number of end-use industries, including the automobile, aerospace, and electrical sectors, to fall. Many businesses in these industries had financial difficulties, which led to output reductions or temporary closures of their operations. The market for meta-aramids was immediately influenced by this reduction in demand. Consumer behavior was influenced by the pandemic, which resulted in a shift toward vital commodities and a decrease in expenditure on non-essential items. People put off or canceled purchases, which decreased demand for meta-aramid fibers, which are key consumers in the textile and automobile industries. The demand for materials made of meta-aramid increased as a result.

LATEST TRENDS

"Growing awareness of personal protective equipment (PPE) to Augment the Market Growth"

The application range of these fibers has expanded as a result of ongoing developments in meta-aramid fiber technology, including improved production methods and improved characteristics. In order to create novel meta-aramid products with improved performance attributes, manufacturers are engaging in research and development operations. The launch of new items as a result of these technical developments has boosted market expansion. In a number of different industries, such as construction, oil and gas, and chemical manufacture, personal protection equipment (PPE) use is becoming more and more important. Gloves, other safety equipment, and clothing made from meta-aramid fibers are frequently used in flame- and heat-resistant apparel. The demand for meta-aramid fibers has grown as people become more conscious of job safety and the necessity of efficient PPE.

Segmentation

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• By Type Analysis

By type, market is segmented into Raw White Fiber And Dope Dyed Fiber. The raw white fiber type segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into electrical insulation, protective clothing, filter systems, rubber reinforcement and other. The electrical insulation segment will lead the global share through 2028.

DRIVING FACTORS

"Stringent Safety Regulations to Push the Market"

Meta-Aramid fibers, such aramid 1313 and aramid 1414, are extensively employed in a variety of end-use sectors, including the automotive, aerospace, electrical insulation, protective gear, and firefighting. The demand for meta-aramid fibers has increased as a result of the rising need for high-performance materials with superior heat resistance, flame retardancy, and mechanical strength. To protect worker safety and lower the danger of accidents connected to fires, governments and regulatory agencies throughout the world are putting into place strict safety measures. Because of their exceptional flame-resistant qualities, meta-aramid fibers are frequently used in protective garments, work gloves, and firefighting gear. The demand for meta-aramid fibers has been driven by the rising emphasis on worker safety and the requirement for adherence to safety regulations.

"Expansion of the Aerospace Sector to Boost the Market Demands"

Because of the resilience at high temperatures, dimensional stability, and strength of meta-aramid fibers, the automobile sector is a significant user of these materials. In order to increase the performance and longevity of hoses, gaskets, seals, and other automotive parts, meta-aramid fibers are utilized. Meta-aramid fiber demand is anticipated to increase as a result of rising automotive production and the drive toward lightweight materials in cars. Materials with great strength and durability to harsh environments are required for use in the aircraft sector. Meta-aramid fibers are well suited for aerospace applications such as thermal protection systems, engine components, and aircraft insulation due to their good mechanical qualities, which include high tensile strength and modulus. The growing use of meta-aramid has been aided by the aerospace industry's expansion, which has been fueled by rising air traffic and a need for cutting-edge aircraft.

RESTRAINING FACTORS

"Environment Concerns to Slow the Market Growth "

Meta-aramid fibers have several restrictions even though they have good thermal stability and flame resistance. For instance, they might not be as strong or durable as certain other synthetic fibers. It can be difficult to overcome these technological constraints and improve the overall performance of meta-aramid fibers. Meta-aramid fibers are made using techniques that need a lot of energy and a variety of chemicals. Environmental issues may also be raised by the disposal and end-of-life management of items made using meta-aramid. The market need for meta-aramid fibers may change as sustainability and environmental awareness rise. Like other chemical products, meta-aramid fibers must adhere to rules and guidelines for matters of environmental, health, and safety. Manufacturers may incur increased expenses and obligations as a result of complying with these rules, which might slow the expansion of the market.

REGIONAL INSIGHTS

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"North American Market to Grow Exponentially with the Forecasted Period"

On the global meta-aramid market, North America is highly prevalent. Meta-aramid fibers are widely used in the aerospace, automotive, and protective clothing sectors, and the US is a significant producer and user of these materials. The need for high-performance materials as well as the region's tight safety laws both contribute to the market growth for meta-aramid.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Dupont (U.S.)
• Teijin (Japan)
• Huvis (South Korea)
• Karsu Tekstil (Turkey)
• 3L Tex (Italy)
• YF International (South Korea)
• Yantai Tayho Advanced Materials (China)
• X-FIPER New Material (China)
• Toray (Japan)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.