Report Code: A15905 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Para-aramid Fibers Market
Request Now !Para-Aramid is an aromatic polyamide distinguished by long, rigid polymer crystalline chains. The major drivers for this market are the increasing usage of para-aramid fiber in brake pads, clutches, transmission belts, gaskets, linings, and tires in automotive and the growing demand for protective clothing in defense and industrial sectors. Also, the increasing utilization of para-aramid fiber as an alternative to asbestos and steel in military and aerospace applications for ballistic grade body armor fabric is expected to fuel the market growth during the forecast period. Furthermore, stringent government norms regarding the safety of employees at the workplace and large penalties for non-compliance with these standards is also anticipated to contribute to the para-aramid fiber industry growth during the forecast period. However, the unremitting demand from the relatively unaffected defense and electrical & telecommunications industries is expected to be the redeeming grace for the aramid fiber market, indemnifying a portion of the losses incurred. The unwavering demand from the largely unaffected defense and electrical & telecommunications industries, on the other hand, is expected to be the aramid fiber market's saving grace, compensating for some of the losses experienced.
Covid-19 Impact Analysis
Top Impacting Factors
The growing automotive, aerospace, defense and construction industries are among the key factors driving the growth of the market. Furthermore, the growing demand for lightweight materials for personnel protective equipment that protect the wearer from physical, thermal, electrical and biological hazards, is also providing a thrust to the market growth. Aramid fiber is also used for the production of bullet-proof and stab-resistant products, including helmets, gloves and clothing material. Additionally, it is widely utilized for the manufacturing of products such as fishing and golf rods, bows, skis and wall materials of airplanes. The increasing industrialization and urbanization across the globe is another factor favoring the market growth.
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