Meta-aramid Fiber Market worth $2.3 billion by 2027 | Key players Teijin Ltd. (Japan), DuPont De Numerous, Inc. (US), Yantai Tayho Advanced Materials Co., Ltd. (China).

According to recent market research the "Meta-aramid Fiber Market by Type (Staple, Filament, Paper), Application (Nonwoven Bagfilter, Apparel, Turbohose, Electric Insulation, Honeycomb Reinforcement), and Region (Asia Pacific, Europe, North America, MEA, South America) - Global Forecast to 2027", is projected to reach USD 2.3 billion by 2027, at a CAGR of 10.6% from USD 1.4 billion in 2022. Aramid fibers are a family of high-strength, high-modulus fibers made from aramid resin. Aramid fibers are long-chain synthetic polyamides with extremely high tensile strength, which are frequently used in advanced composite products that require high strength and are lightweight. There are two types of aramid fiber, para-aramid, and meta-aramid. In terms of value, staple continues to be the largest type of segment in 2021. Apparel is the largest application segment of the meta-aramid fiber market. In terms of value, Europe was the largest market for meta-aramid fiber in 2021. Meta-aramid fibers face a significant threat from substitutes as they are frequently used with other advanced fibers with similar structural and physical properties. The threat of new entrants is low in the market, as this market has high cost of setting up manufacturing plants and low-profit margins.

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Meta-aramid in paper form has excellent properties such as high strength, low deformation, electrical insulation, high temperature resistance, corrosion, and flame resistance. Paper is available in majorly two forms insulation paper and structural materials paper. Meta-aramid shortcut fibers are majorly used in the production of electrical insulation paper.

Electrical insulators are used to hold conductors in position, this keeps them apart from one another and from nearby structures. They act as a barrier in an electric circuit, limiting the passage of electricity to wires or other conducting paths as desired. Meta-aramid fibers are majorly used in electric insulation for automotive, including electric vehicles. Electric vehicle insulations are used to insulate different components of an electric vehicle for thermal, electrical, and acoustic management. Insulation protects the components against cold in winter and excess heat in summer.

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Industrial expansion and technological developments in the region are driving the consumption of meta-aramid fiber. The growth of the market is also expected to be supported by the improving global economy. Stringent safety regulations within industries such as oil & gas, construction, aluminum, and steel are fueling the demand for protective clothing, which, in turn, is further driving the demand for meta-aramid fibers in the region.

The key market players profiled in the report include Teijin Ltd. (Japan), DuPont De Numerous, Inc. (US), Yantai Tayho Advanced Materials Co., Ltd. (China), Toray Industries, Inc. (Japan), Huvis Corporation (South Korea), Kermel (France), X-FIPER New Material Co., Ltd. (China), Aramid HPM, LLC (US), Shanghai J&S New Materials Co., Ltd. (China) and Lydall Industrial Filtration (UK).

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DuPont De Numerous, Inc. is a global leader with technology-based materials and solutions. It offers expertise and delivers essential innovations to a broad range of markets, including electronics, transportation, building and construction, healthcare, and worker safety. The company has a presence in about 60 countries worldwide and manufacturing operations in about 40 countries. As a part of its growth strategy, the company is engaged in partnerships and collaborations in various regions, owing to the growing demand for aramid fibers in the protective clothing and high-performance clothing industries. It is concentrating on growing its Safety & Construction business segment-it is the biggest supplier of aramid fibers for the US Department of Defense. Recently, it also collaborated with VF Workwear to develop a heat-resistant garment line.

Teijin Ltd. offers services to the transportation, information & electronics, safety & protection, environment & energy, and healthcare industries. It manages its business through six segments, namely, High Performance, Composites, Healthcare, Fibres & Products Converting, IT and Others. Teijin Ltd. offers a wide range of aramid fibers, which helps the company maintain its position in the market. Apart from this, the company is expanding its production operations rapidly to cater to the increasing demand for high-quality products; increased product supply would help the company increase its revenue. Moreover, the company is aggressively partnering with various relevant companies to develop innovative solutions. Additionally, it expanded in various regions to take advantage of high-growth markets. For instance, in November 2019, the company announced a capacity increase of para-meta-aramid fiber for the Netherlands' facilities. It is also focusing on innovation and research and development (R&D) through the identification and development of future potential products.

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