London, 23 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the global aramid fiber market 2015-2019, which is expected to grow at a CAGR of 8.07% during the forecast period of 2014-2019.
The aramid fiber market is expected to grow at a rapid pace owing to the rapid expansion of the end-user segments. These aramid fibers have high abrasion resistance, tensile strength, zero conductivity, low flammability, and excellent heat and cut resistance properties, and are expected to replace other traditionally used fibers such as carbon, glass, and steel reinforcements. This recent increase in the applicability of aramid fiber is one of the major reasons behind growth in this market.
“Leading vendors are moving toward downstream integration in most of the countries to limit the bargaining power of primary consumers, insulating themselves from demand fluctuations, and to expand revenues and margins,” says Faisal Ghaus, Vice President of Technavio.
“The vendors, through long-term strategic tie-ups with key OEMs and automobile manufacturers, are seeking a larger share of revenue from industries such as automotive, defense, and aerospace.”
Key Market Drivers:
- Increasing Investment in Defense and Aerospace Industry.
- Stricter Enforcement of Safety Guidelines in the Workplace.
- Increased Use of Aramid Fibers in Civil Engineering Applications.
- Growth in Global Automotive Market.
- Growth in Nanomaterial Industry.
Key Market Trends:
- Market to Increasingly Turn Oligopolistic in Nature.
- Evaluation of Various New Applications for Fiber.
- Adoption of Aramid Fibers in Unpenetrated Geographies.
- Downstream Integration by Manufacturers.
- Increasing Focus of Players on BRIC Nations.
Key Market Vendors:
- BASF SE
- DuPont
- Hoechst Celanese Corp.
- Kolon Industries Inc.
- Solvay SA
- Teijin Ltd.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
