Market Research Report
|Published by||Global Industry Analysts, Inc.||Product code||940682|
|Published||Content info||286 Pages
Delivery time: 1-2 business days
|Published: April 1, 2021||Content info: 286 Pages||
Global Aramid Fibers Market to Reach $6.3 Billion by 2027
Amid the COVID-19 crisis, the global market for Aramid Fibers estimated at US$3.6 Billion in the year 2020, is projected to reach a revised size of US$6.3 Billion by 2027, growing at aCAGR of 8.4% over the period 2020-2027. Para-Aramid, one of the segments analyzed in the report, is projected to record 7.4% CAGR and reach US$3.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Meta-Aramid segment is readjusted to a revised 9.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $963.8 Million, While China is Forecast to Grow at 11.2% CAGR
The Aramid Fibers market in the U.S. is estimated at US$963.8 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2027 trailing a CAGR of 11.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.7% and 7.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 6.5% CAGR.
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