Aramid Fiber Market

1. Aramid Fiber Market Growth, Size, Competitive Situation 2021, Trend Analysis, Factors, Share Estimation, Demand and Supply with Regional Forecast by 2027 © 2020 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

2. Global Market Scenario of Aramid Fiber Industry • Aramid fibers market are a class of high-strength and heat resistant synthetic fibers. These high-performance materials are characterized by exceptional physical properties including superior resistance to abrasion and organic solvents, low flammability, and excellent fabric integrity at elevated temperatures. Over the past few years, aramid fibers and products made from them have been abundantly used across a range of different applications. • 5G deployment to bring promising opportunities • 5G, the next-generation wireless technology, promises a seamless future. It will unlock lightning fast speeds for users and allow a greater number of devices to come online simultaneously without slowing down network. Deployment of the highspeed network will require additional equipment, including new transmitters to relay all the data generated. Many of those transmitters will likely still connect to the internet via optical fiber cables. • Taking into consideration the recent developments as well as 5G deployment efforts, the demand for fiber optic cables is anticipated to grow rapidly in the near future. Aramid and para aramid fibers are widely used in the production of fiber optic cables. Aramid fiber market manufacturers have adopted numerous growth strategies, such as expansion of existing manufacturing facilities and setting up of new ones, in preparation for 5G. © 2020 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

3. Continue:- • For instance, in July 2018, China-based Yantai Tayho Advanced Materials had invested US$89 million into a para aramid production facility in northwest China. The company had aimed to manufacture 3,000 tons of para aramid fiber yarns to meet the surging demand for optical fiber cables for 5G networks. In the following year, Japan’s Teijin had announced plans to boost the production of para aramid fibers which it manufactures and sells under the name Twaron. • Citing yet another instance, in May 2020, South Korean manufacturer Hyosung Advanced Materials had signed an MoU with the city of Ulsan for investment in the expansion of its aramid facility. As per the deal, the city of Ulsan agreed to offer administrative support to Hyosung regarding the necessary approvals and authorizations. • Immense potential in advanced applications • Numerous instances of explosion of mobile devices, drones, electric vehicles, and other technologies over the years have pushed the demand for lightweight materials to power them. Researchers at Texas A&M University and the University of Houston developed a new supercapacitor electrode in June 2020 using aramid nanofiber and graphene oxide. © 2020 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

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5. 360° Industry Analysis • The aramid nanofiber provides exceptional mechanical strength that enhances the electrode’s versatility for a range of applications, including the military. The research was funded by the U.S. Air Force Office of Scientific Research. The development of more accurate modeling methods will enable the discovery of new, more effective nano-architecture solutions that can provide higher energy and longer battery life with a lighter weight. • Key growth restraints and COVID-19 impact • High costs associated with the production of aramid fibers could turn out to be a major factor restricting their demand in the future. Also, lack of availability or raw materials due to the recent coronavirus outbreak and subsequent disruptions in manufacturing and supply chains have affected global aramid fiber industry forecast up to certain extent. Request for customization:https://www.gminsights.com/roc/812 © 2020 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

6. Competitive Analysis: • The COVID-19 pandemic will affect the product demand over the forecast period • The pandemic has caused the global sales of aramid fiber to fall 10% in 2020 in comparison with 2019, and still further in early 2021. Restricted mobility, decreased customer spending, and disrupted equipment supply chains have led to decreased fixed investments, causing havoc on the aramid fiber producers. Lockdown in several countries, such as China, India, U.S., Brazil, Italy, Spain, France, and the UK, has also affected the production and consumption of the product. © 2020 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

7. Latest Research Report On Aramid Fiber Market@ https://www.gminsights.com/industry-analysis/aramid-fiber-market Request for sample of this research report@ https://www.gminsights.com/request-sample/detail/812 Request for customization: https://www.gminsights.com/roc/812 © 2020 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

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