- Aramids are used for both components and structural applications, in all aircraft and spacecraft, ranging from hot air balloons, gliders, etc., to fighter planes, passenger airliners, and space shuttles. Applications of aramid fibers are generally in wing assemblies, helicopter rotor blades, seat propellers, and enclosures for instruments and internal parts.
- With ever-increasing fuel costs and environmental lobbying, commercial flying is under constant pressure to improve performance, and weight reduction is a key factor in the equation. Aramid Fiber presented a solution to this equation as it is lightweight and promotes fuel efficiency. Other positive attributes include excellent fatigue and corrosion resistance and good impact resistance.
- Every year, the aerospace industry uses a higher proportion of aramid fibers in the construction of each new generation of aircraft due to the provision of an all-weather operation of commercial aircraft and enhanced vision systems. Moreover, characteristics, such as temperature stability and durability, will further fuel the growth of the aerospace composites market over the coming years.
- With the increasing security concerns and increasing commercial use of aircraft as a medium of conveyance, the demand for aircraft has been increasing across the region. With this, various aircraft production orders have been lined up for delivery in the coming years.
- For instance, according to Boeing, by 2038, the deliverables of commercial aircraft are expected to reach about 9,130 units in North America.
- Hence, with the production of aircraft to deliver the aircraft orders from the defense as well as the aviation industry, the demand for aramid fiber is projected to increase in the region, during the forecast period.
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United States to Dominate the Market
- In the North America region, United States dominated the aramid fiber market. United States is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country`s manufacturing sector is one of the major contributors to the country`s economy.
- According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach 8,270 in 2037, owing to the growth in air cargo. Also, the US mainliner carrier fleet is expected to grow at a rate of 54 aircrafts per year due to the existing fleet getting older. Strong exports of aerospace components to countries, such as France, China, and Germany, along with robust consumer spending in the United States are driving the manufacturing activities in the aerospace industry.
- Various automotive manufacturers are planning to invest during the coming years, amid threats from the government to increase levies on auto imports from Mexico. This factor is expected to positively impact the automotive industry in the country in the coming years, thereby increasing the consumption of aramid fiber in the automotive industry through the forecast period.
- The sports market in the United States too is growing steadily and it is expected to reach almost USD 79 billion by 2021.
- Overall, with the growing demand from various end-user industries is projected to drive the market in the country during the forecast period.
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Competitive Landscape
The North America aramid fiber market is highly consolidated. The major companies include Teijin Aramid B.V., Dupont, HYOSUNG, and TORAY INDUSTRIES, INC., among others.
Major Players
Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Growing Need for Fuel Efficiency
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4.1.2 Advancements in the Automotive Sector Techologies
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4.2 Restraints
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4.2.1 Available Alternatives with Better Properties
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4.2.2 High Cost Association
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4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Product Type
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5.1.1 Para-aramid
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5.1.2 Meta-aramid
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5.2 End-user Industry
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5.2.1 Aerospace and Defense
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5.2.2 Automotive
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5.2.3 Electronics and Telecommunication
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5.2.4 Sporting Goods
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5.2.5 Other End-user Industries
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5.3 Geography
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5.3.1 United States
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5.3.2 Canada
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5.3.3 Mexico
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5.3.4 Rest of North America
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 Dupont
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6.4.2 Huvis
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6.4.3 HYOSUNG
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6.4.4 KERMEL
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6.4.5 Teijin Aramid B.V.
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6.4.6 TORAY INDUSTRIES, INC.
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6.4.7 YF International bv
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Growing Demand from the Aerospace Sector
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7.2 Emerging Applications in the Optical Fiber Industry
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