Selbyville, DE -- (ReleaseWire) -- 04/02/2018 --Europe led the global Aramid fibers market with a market share over 30% in 2016. However, the region will exhibit comparatively moderate growth rate in the coming years. Asia Pacific aramid fiber market will witness promising growth close to 9% by 2024. Rising automotive industry and infrastructural development will be the key factors boosting the regional growth. Total automotive sales in Asia Pacific region including: China, India, Japan, Australia, Indonesia, Thailand and Malaysia were over 40 million units in 2016 and shall escalate by 2024. Recent regulations by the Government of Japan for reinforcing the evacuation facilities situated near volcano prone areas, for instance, Ebino Eco Museum Center, will be another factor contributing to the growth of aramid fiber market in the region. Protecting structures from large airborne fragments is an important issue in Japan, one of the world's more active volcanic regions, where aramid fibers play vital role in construction owing to their airborne fragment-resistive nature.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/812

Aramid Fiber Market Size will surpass USD 5 billion by 2024. Manufacturing sector has been observing product demand with utmost importance to smaller ecological footprint, enhanced safety and cost-efficiency. Aramid fibers have been gaining the prominent preference in the area of ballistic protection for their high tensile strength, high modulus and resistive physical properties to bullets, shrapnel & bomb fragments, stabbing, etc. Apart from the protective apparels, aramid fibers are likely to find vast applications in the fields including automotive, aviation, marine, electrical & electronics, etc. by 2024, for their low flammability, non-conductivity, light weight and substantial thermal & chemicals resistance.

Aramid fiber market will be driven by the sectors where weight savings are critical, for instance, automotive, space vehicles, aircraft components, helicopters and missiles. Rising demand from the escalating automotive industry will propel global aramid fiber market in the near future. For instance, Total automotive sales in the North America including: U.S. and Canada were over 19 million units in 2016 and is likely to witness 4% growth by 2024. Aramid fibers find extensive automotive applications in tire reinforcement (in racing automobiles, off-road, buses, and trucks), power transmission belts, industrial and automotive hoses, brake, clutch, and gasket uses etc.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/812

Aramid fibers market will observe significant demand from electrical insulation, sporting goods, marine applications in the foreseeable timeframe. Characteristics such stiffness, light weight, damage tolerance, vibration damping, etc. which are essential in marine recreational industries will drive their demand in the hulls of canoes, kayaks, and sail & power boats.

In 2016, safety applications led the aramid fiber market and generated revenue over USD 900 million. Rising investment by various nations to bolster their defense sectors amidst rising uneven warfare will augment the demand for aramid fibers from safety applications.

Aramid fibers market will observe significant demand from electrical insulation, sporting goods, marine applications in the foreseeable timeframe. Characteristics such stiffness, light weight, damage tolerance, vibration damping, etc. which are essential in marine recreational industries will drive their demand in the hulls of canoes, kayaks, and sail & power boats.

Frictional material segment held share close to 25% in 2016. Usage of aramid fiber in this area include asbestos replacements, automotive & industrial gaskets, brake pads, linings, etc. Regulations prohibiting the asbestos usage for various industrial applications will boost the demand for aramid fiber market by 2024.

Industry participants have been investing heavily in R&D in response to the upward demand for the high-performance aramid fibers. In July 2017, Teijin expanded the capacity for the Twaron aramid at its manufacturing facility in Emmen, Netherlands. Company made a substantial investment in the new spinning technology at the plant, to achieve enhanced automation of the spinning process, thereby reducing the physical efforts by operators.

Read Complete Table of Contents of this Report@ https://www.gminsights.com/toc/detail/aramid-fiber-market

Read Our Research Methodology:
At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the industry. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:

- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the industry
- Demographics and statistical data

All the above factors are identified and analyzed in detail, with their present and expected market impact, which is quantified and used to derive market growth expectation. Market forecast is built using statistical analysis with models built around time-variance, regression and correlation analytics.

Significant emphasis is put on primary research, which serves the dual role or not only validating our findings but also obtaining penetrating market insights, which help us gain more clarity regarding business environment and competitive leverage. Notable participants in our primary research process include:

- Leadership figures such as CEOs, CSOs, VPs etc. in key companies
- Supply-chain participants, distributors and domain experts
- Key customers and B2B clients

Browse key industry insights spread across 220 pages with 258 market data tables & 25 figures & charts from the report, "Aramid Fiber Market Size By Product (Para Aramid, Meta Aramid, Copolyamide), By Application (Safety Applications, Optical Fibers, Frictional Materials, Tire Reinforcement, Rubber Reinforcement, Electrical Insulation), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Thailand, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/aramid-fiber-market

Browse Related Reports:

Carboxymethyl Cellulose (CMC) Market Forecast, 2017 – 2024
https://www.gminsights.com/industry-analysis/carboxymethyl-cellulose-cmc-market

Nitrile Butadiene Rubber (NBR) Powder Market Forecast, 2017 – 2024
https://www.gminsights.com/industry-analysis/nitrile-butadiene-rubber-nbr-powder-market

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.