The industry assessment report titled ‘Global Aramid Fiber Market by Type (Para-Aramid Fiber, Meta-Aramid Fiber), Application (Security & Protection, Frictional Materials, Industrial Filtration, Optical Fibers, Rubber Reinforcement, Tire Reinforcement), Regional Forecasts 2021-2027’, available with MarketStudyReport, states that the global aramid fiber market is expected to garner strong returns during 2021-2027.
 

As per report findings, increased product demand in the aerospace sector and rising preference towards lightweight materials that reduce carbon dioxide emissions in vehicles are aiding the growth of the global aramid fiber market.
 

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For the uninitiated, aramid is a type of heat-resistant synthetic fiber that is utilized across various applications owing to its advantages such as resistance to wear and tear, toughness, and high durability against heat and strong impacts.
 

Experts cite that stringent regulatory frameworks that aim to reduce carbon dioxide emissions will play a vital role in the industry surge in the upcoming years. Reliable sources state that a passenger vehicle releases a minimum of 4.7 metric tons of carbon dioxide every year. Consequentially, the European Union has laid down strict regulations to restrict the emissions by 3.1 % each year during the forecast timespan of 2017-2020 to address concerns regarding the environment.
 

Moving on to the challenges, the non-biodegradable nature and toxicity of aramid fibers may impede market expansion over the forecast period.
 

Geographically, the Europe aramid fibers market is leading this business sphere in terms of growth rate and overall share owing to the safety restrictions prevalent in the industries within the region. Germany is the largest contributor to this regional market growth as it is a host to a large number of engine production plants in the world.
 

Key players influencing the market trends are Shenma Industrial Co. Ltd., Toray Industries, Inc., Xiamen Chao Yu Environmental Technology Co. Ltd, Sinopec Yizheng Chemical Fibre Ltd., Liability Company, Kolon Industries, Yantai Tayho Materials Co. Ltd, Tejin Ltd., X-FIPER New Material Co., Ltd., Wuxi Heshengyuan Carbon fiber Co., Ltd., and Suzhou Zhaoda Special Fiber Technical Co. Ltd.