Aramid Fiber Market size is expected to be valued at USD 4,536.7 million in 2022 which is expected to grow at a CAGR of 10.2% over 2022-2028. Aramid fiber is extensively used in several applications due to its beneficial mechanical properties, such as high strength, abrasion thermal degradation, impact resistivity, resistance, and so on. Meta-aramid fiber and Para-aramid fibre are mainly used in shielding clothing. Its main applications can be found in security (body armor), aerospace and defense, and others. The fast-increasing demand for lightweight materials in protection and security applications can lead to the growth of the aramid fiber market. Moreover, the increasing necessity for lightweight materials providing substantial emission reduction in automobiles and the possible alternative for steel and asbestos accompanied by defensive measures requirement led by rising in asymmetric warfare are some primary factors that can boost the global aramid fiber market. Apart from these, the growing demand for aerospace and automotive applications can also accelerate the market in the future. the growing demand for the product from numerous industries such as oil and gas chemicals manufacturing, healthcare, and others due to severe government regulations connected to workplace safety can also drive the global market further. However, some factors such as the high costs of research and development and the non-biodegradable behavior of aramid fibers can restrain the growth of the market. The increasing demand for homeland safety and increasing defense expenditure accompanied by the rapid progressions in aramid materials manufacturing techniques can create an opportunity for the growth of the global aramid fiber market.
In June 2022, Teijin Aramid announced a new concept of Woven Matrix to ease out the production process of ballistic protection solution