The global aramid prepreg market is expected to register a moderate growth during the forecast period (2018 - 2023). In 2017, Europe dominated the global market with a share of approximately 27%, followed by North America and Asia-Pacific.
The growing demand for greater safety & security is one of the major drivers for the aramid prepreg market. Recently, with increasing urbanization, there has been an increase in accidents and attacks using fire. This is leading to an increase in the demand for protective suits for police, firefighting, and army personnel. In addition, there are several unmet needs in various segments of the flame and fire-resistant clothing and other materials. Aramid prepregs are used in protective clothing in industries, in sports, and for protection personnel. The fibers used in clothing give it several characteristics such as strength, light-weight, cut resistance, and high energy absorption. Furthermore, increase in security in regions across the world due to an increase in terrorist activities has also led to an upward demand for these fibers in military protection. Therefore, increase in the need for safety & security is expected to drive the demand for aramid prepreg market over the forecast period.
Para-aramids provide unique combinations of toughness, enhanced high tenacity and modulus of elasticity, as well as exceptional thermal stability. Therefore, the end-uses of para-aramids cover a broad range of industrial, aerospace, military, and civilian applications, which include ballistic apparel, hard armors, brake & transmission friction parts, reinforced tires & rubber goods, ropes & cables, various forms of composites, filament wound pressure vessels, industrial gloves, circuit board reinforcements, etc. These prepregs, if used in the content ratio of 5-25%, give better results in terms of heat penetration resistance, abrasion resistance, and UV resistance. Due to the increase in the demand for security, protection, and aerospace applications, para-aramid fibers is expected to dominate the market over the forecast period.
Aramid prepregs are used for the components that are subjected to high stress in the aerospace & defense industry, due to their beneficial properties. The global aerospace & defense sector is expected to show a strong growth in the forecast period. The stable GDP growth, relatively strong passenger travel demands, and lower commodity prices are driving the growth of the aerospace industry in the many regions, such as Asia-Pacific and Middle East & Africa.
The defense sector is expected to grow at a much faster rate in comparison to the aerospace. The rising political instability and tension have caused an increase in the demand for defense & military equipment around the world. China is one of the world leaders in arms manufacturing and a leading exporter of defense products. Furthermore, the Middle-East, Europe, North Korea, and India are also increasing their expenditure in the defense sector. Hence, the increased emphasis on aerospace & defense sector across these regions is expected to enhance the growth of the global aramid prepreg market over the forecast market.
Major Players: Hexcel Corporation, Mitsubishi Rayon Co, Ltd, ACP Composites, and Toray Industries Inc., among others.
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