Aramid Fiber Market Worth $3,067 Million by 2019

This research report on, “Aramid Fiber Market by Type and Application - Global Trends & Forecasts to 2019”, defines and segments the aramid fiber market with an analysis and forecast for types, and applications by volume as well as value.

The aramid fiber industry is a rapidly evolving market. Currently, the aramid fiber market is dominated by a few key players, such as E.I. Dupont de Nemours (U.S.), Teijin Limited (Japan), Yantai Tayho Advanced Materials Co. Ltd. (China), Hyosung Corporation (Republic of Korea), and so on. Most of these companies are leaders in the production of aramid fiber of type and applications. These companies are focused on investment to establish or develop new production techniques, facilities, and capacity expansion of aramid fiber to achieve economies of scale, product innovation, and expansion in order to capture and improve the market share.

Market players are concentrating on increasing their production capacities and developing new variants of aramid fiber with better performance qualities. The aramid fiber producers are focusing on developing new technologies and product developments. The companies are investing in the setting up of new facilities, mainly in emerging regions; they are also trying to increase their global presence to address the growing demand in the emerging markets. All these development are a reaction to the increasing demand for aramid fiber applications in emerging regions with high development rate.

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New product developments have dominated the strategies adopted by the key aramid fiber manufactures in the recent past. For instance, Dupont (U.S.) introduced two aramid fiber solutions in 2013, adding considerably to its already wide range of aramid fiber. The product, Kevlar AS450X has been developed for application in ballistics protection to provide better comfort by reducing weight and collaborating anti-stab and ballistics protection; Kevlar XP-S104 has been developed for better bullet protection and reduced deformation in high temperatures.

Developing new product variants of aramid fiber has been the most used strategy by the players in the aramid fiber market. Between 2009 and 2014, 13 variants of aramid fiber have been developed by companies, such as DuPont (U.S.), Teijin Limited (Japan), and Kermel Industries (France).

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Further, the leading market players are focusing on collaboration, licensing, and acquisition of the other players to meet their customers’ needs. For example, Toray Industries (Japan) acquired Woongjin Chemicals Co. Ltd. (Republic of Korea) to establish its consolidated subsidiary Toray Chemical Korea Inc. (Republic of Korea). The acquisition included the aramid producing facility in Korea and has provided Toray the ability have much more control over the supply chain and offer better products to its customers.

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The market leaders have adopted different strategies for the developed and developing countries. In developed countries, the demand is expected to be slower as compared to the developing countries. The strategy of the market players is focused on developing technology and new products, expanding production capacities, and investing in emerging regions.

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