Market Research Report
Asia Pacific Aramid Fiber Market Forecast 2019-2027
|Published by||Inkwood Research||Product code||911178|
|Published||Content info||77 Pages
Delivery time: 2-3 business days
|Asia Pacific Aramid Fiber Market Forecast 2019-2027|
|Published: September 19, 2019||Content info: 77 Pages||
The Asia Pacific aramid fiber market is projected to record a CAGR of 9.03% in terms of revenue and 8.49% in terms of volume during the forecasted period. The growing investments in construction, manufacturing, and security concerns and measures in the healthcare, medical, military, oil & gas industries, and the resultant demands are driving the growth of the market.
The Asia Pacific aramid fiber market is assessed on the basis of markets across the regions, such as China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. India is the fastest-growing market in the Asia Pacific due to rising demands from optical fibers, frictional materials, tire reinforcement, etc. segments. The stringent product testing and regulatory standards in electronics and pharmaceuticals are estimated to drive the growth of the market. The majorly used product type is the Para-aramid fiber, which finds its applications in wire & cables, hose reinforcement, protective gloves, etc. There is rising concern regarding the environment with regards to land and water pollution, and aramid fibers are non-biodegradable materials that remain in the ecosystem, leading to environmental pollution, thereby hampering the market growth.
The rising demands have fueled the market growth opportunities for various companies. They are investing in the research and development activities, thereby undergoing a stiff competition. Some of the major companies are China National Bluestar (Group) Co., Ltd., Toray Industries, Inc., Hyosung Corp., Kolon Industries, Inc., etc.