Market Size of Middle East And Africa Aramid Fiber Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 59.45 Million |
| Market Size (2029) | USD 71.37 Million |
| CAGR (2024 - 2029) | > 3.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Middle East and Africa Aramid Fiber Market Analysis
The Middle East And Africa Aramid Fiber Market size is estimated at USD 59.45 million in 2024, and is expected to reach USD 71.37 million by 2029, growing at a CAGR of greater than 3% during the forecast period (2024-2029).
The COVID-19 pandemic had negatively affected the market in 2020 owing to several restrictions imposed by the governments of Saudi Arabia and South Africa. However, the aramid fiber market recovered well since the restrictions were lifted. In the recent years, the market registered a significant growth rate due to rising demand from the automotive, electronics end-user industries.
- The increase in the usage of aramid fibers as a potential substitute for steel materials and the increase in demand for lightweight materials in the automotive industry are expected to drive the market.
- The availability of better alternatives for aramid fibers is hindering market growth.
- The advancements in aramid materials manufacturing technology are expected to create opportunities for the market during the forecast period.
- The Saudi Arabia is expected to dominate the market due to the rising demand for aramid fibers from automotive, aerospace and defense, electrical, and electronics end-user industries. It is also expected to register the highest CAGR during the forecast period.
