Aramid Fiber Market Size

Statistics for the 2023 & 2024 Aramid Fiber market size, created by Mordor Intelligence™ Industry Reports. Aramid Fiber size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Aramid Fiber Industry

Aramid Fiber Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 4.00 %
Fastest Growing Market Asia-Pacific
Largest Market Europe
Market Concentration High

Major Players

Aramid Fiber Market Major Players

*Disclaimer: Major Players sorted in no particular order


Need a report that reflects how COVID-19 has impacted this market and its growth?

Aramid Fiber Market Analysis

  • During the time frame of the forecast, the aramid fiber market is expected to grow at a CAGR of more than 4%.
    • The market was negatively impacted by COVID-19, owing to a lack of demand from the industrial sector. During the pandemic scenario, end-user industries such as automotive, aerospace, and electronics halted their production temporarily, leading to a decrease in demand for products made up of aramid fibers. However, in 2021, the production activities registered positive growth, leading to a recovery in the demand for aramid fibers. During the time frame of the forecast, the market is also expected to grow in a positive way.
    • Over the short term, the increase in defense spending by many countries and the growing demand for aramid fiber from the aerospace sector are expected to drive the market's growth.
    • On the other hand, the study predicts that the growth of the market will be slowed by the availability of better alternatives, such as glass fibers.
    • During the forecast period, the market is likely to grow because of new applications in the optical fiber industry and the growth of the market for unmanned aerial vehicles.
    • Europe dominated the aramid fiber market, followed by North America and Asia-Pacific, with the largest consumption coming from countries such as Germany, the United Kingdom, France, and Italy.

Aramid Fiber Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)