Meta-aramid Fiber Market Estimated to Reach $2.3 billion by 2027 Globally, at a CAGR of 10.6%, says MarketsandMarkets™

Chicago, March 21, 2023 (GLOBE NEWSWIRE) — The global Meta-aramid Fiber Market is projected to reach USD 2.3 billion by 2027, at a CAGR of 10.6% from USD 1.4 billion in 2022, as per the recent study by MarketsandMarkets™. Meta-aramid fiber offers higher thermal and chemical resistance than para-aramid fiber and has dielectric properties, making it preferable for fire-resistant clothing as well as electrical insulation. This fiber is also combined with other high-performance fibers for enhanced properties. For instance, it can be blended with materials such as wood and carbon to increase its strength.

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246 – Market Data Tables
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List of Key Players in Meta-Aramid Fiber Market:

1. Teijin Ltd. (Japan)
2. DuPont De Numerous Inc. (US)
3. Yantai Tayho Advanced Materials Co., Ltd. (China)
4. Toray Industries, Inc. (Japan)
5. Huvis Corporation (South Korea)
6. Kermel (France)
7. X-FIPER New Material Co., Ltd.  (China)
8. Aramid HPM, LLC (US)
9. Shanghai J&S New Materials Co., Ltd.  (China)
10. Lydall Industrial Filtration (UK)

Drivers, Restraints, and Opportunities in Meta-Aramid Fiber Market:

1. Driver: Rising need for lightweight materials offering significant emission reduction in vehicles
2. Restraints: Non-biodegradable nature of meta-aramid fibers
3. Challenges: Available alternatives with similar properties
4. Opportunities: Advancements in aramid materials manufacturing technology

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Key Findings of the Study:

1. “Paper is estimated to be the fastest-growing type in the meta-aramid fiber market for the forecast period.”
2. “Electric insulation was the second major application for the meta-aramid fiber market in 2021 in the global market”.
3. “Europe  is estimated to be the largest region in  meta-aramid fiber  market in 2020.”

Based on type, the meta-aramid fiber market is segmented into staple, filament and paper. Staple accounted for the largest share in 2021. Growth in the market size of staple fiber is attributed to the increased demand for protective clothing across the globe. Government authorities in developed countries are increasingly concerned about the health and safety of the workers.

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Based on application, the meta-aramid fiber market is broadly segmented into apparel, nonwoven bag filter, turbo hose, honeycomb reinforcement, electrical insulation, and others. The apparel segment dominated the global meta-aramid fiber market, in terms of value, in 2021.  It is projected to maintain its leading position until 2027 because of the increasing demand from emerging economies such as China, Brazil, and India.

On the basis of region, Europe is estimated to be the largest market for meta-aramid fiber in 2021. Stringent safety regulations within industries such as oil & gas, construction, aluminum, and steel are fueling the demand for protective clothing, which is driving the meta-aramid fiber market in Europe.

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