Meta-aramid fiber has excellent performance and market size is growing rapidly
Aramid fiber is a high-strength, high-modulus fiber made of aramid resin. Aramid fiber is a long-chain synthetic polyamide with extremely high tensile strength. It is often used in advanced composite products that require high strength and light weight. There are two types of aramid fiber: para-aramid and meta-aramid. . Industrial Research Center issued the 2023 Global and China An in-depth research report on the meta-aramid fiber industry shows that the global meta-aramid fiber market will grow from US$1.52 billion in 2023 to US$2.51 billion in 2027, with a compound annual growth rate of 10.6%. Meta-aramid fibers face significant threats from substitutes because they are often used with other advanced fibers with similar structural and physical properties. The meta-aramid fiber market has very high financial and market barriers, and requires a very large production scale to generate sufficient profits. The threat of new entrants in the market is very low.
During the forecast period, paper meta-aramid fiber will become the fastest growing product form in the meta-aramid fiber market
Meta-aramid short fiber is mainly used in the production of electrical insulation paper. Paper meta-aramid has excellent properties such as high strength, low deformation, electrical insulation, high temperature resistance, corrosion resistance and flame retardancy. These excellent properties have enabled the market size of paper meta-aramid segmented products to grow rapidly.
Electrical insulation applications will become the largest application scenario in the global meta-aramid fiber market
Electrical insulators are used to hold conductors in place, keeping them separate from each other and from nearby structures. Electrical insulators act as barriers in electrical circuits, limiting the flow of electricity through wires or other conductive paths as needed. Meta-aramid fiber is mainly used in automotive electrical insulation applications, especially in electric vehicles. For example, electric vehicle insulation materials are used to isolate different components of electric vehicles for thermal, electrical and acoustic management. Thermal insulation protects components from winter cold and summer overheating.
Europe is expected to become the largest regional market in the global meta-aramid fiber market during the forecast period
Industrial expansion and technological development in Europe are driving the consumption of meta-aramid fiber, and the recovery of the global economy will also increase demand in Europe. Strict safety regulations in industries such as oil and gas, construction, aluminum and steel in Europe are driving the demand for protective clothing, which in turn is further driving the demand for meta-aramid fiber in the European region.
Major competitors in the global meta-aramid fiber market include: Teijin Ltd. (Japan), DuPont De Numerous, Inc. (U.S.), Yantai Taihe New Materials Co., Ltd. (China), Toray Industries, Inc. (Japan) , Huvis Corporation (South Korea), Kermel (France), Chaomeis New Materials Co., Ltd. (China), Aramid HPM, LLC (USA), and Lydall Industrial Filtration (UK).
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