First, let me share you 3 interesting events about aramid fiber:
Bulletproof vests and concerts:
One of the most famous applications of aramid fiber is bulletproof vests. An interesting case occurred at a concert when singer Lady Gaga performed at the 2010 MTV Video Music Awards in a bulletproof vest-style outfit made of Kevlar (a brand of aramid fiber), which not only demonstrated the durability and fashion potential of aramid fiber, but also sparked a discussion about the combination of safety and fashion.
Application in rocket recovery:
SpaceX, a US space exploration technology company, uses aramid fiber in its rocket recovery process. Specifically, aramid fiber is used to make grid fins with extremely high strength and heat resistance. These components help rockets achieve precise control and deceleration when landing. This is a very amazing technical application that reflects the excellent performance of aramid fiber under extreme conditions.
The revolution of bicycle tires:
Aramid fiber is used to make high-performance bicycle tires, such as Michelin’s Pro4 series tires, which have aramid fiber added to the sidewalls to enhance durability and puncture resistance. This not only makes cycling safer, but also greatly extends the service life of tires. It is an interesting innovative application of materials.
With the vigorous development of the new energy industry, the transformation of the automobile industry to high strength and lightweight, and the rapid increase in the military’s demand for lightweight and flexible materials, the market size of aramid materials as a potential substitute for steel and asbestos is expected to grow significantly. Aramid (aramid) generally refers to aromatic amide fibers. There are four categories: (1) all-para aromatic amide fibers; (2) all-para aromatic amide copolymer fibers; (3) all-meta aromatic amide fibers; (4) meta aromatic amide copolymer fibers containing methyl substituents. The first two categories are high-strength, high-modulus, heat-resistant fibers, and the latter two categories are high-temperature resistant and flame-retardant fibers.
Analysis of the current market development status and corporate competition landscape of the aramid industry
The downstream of aramid fibers is mainly used in rubber, electrical, protection, aerospace, military, automobile, and communications industries. 30% of the global para-aramid downstream is for automotive anti-friction, 30% is for safety protection and bulletproof materials, 15% is for fiber reinforcement, 10% is for tires, and 10% is for rubber; the global meta-aramid downstream fiber reinforcement accounts for 40%, safety protection accounts for 30%, and in addition, automotive hoses and ropes account for 10%.
According to the 2023 annual report of Taihe New Materials, a leading aramid fiber company, the global nominal capacity of aramid fiber is about 15.16 million tons, an increase of about 10% year-on-year; global demand is about 12.13 million tons, an increase of about 11% year-on-year. According to data disclosed by the China Composite Materials Industry Association, the global aramid fiber market size was US$3.9 billion in 2021 and US$4.7 billion in 2023. It is expected that by 2026, the global aramid fiber market will reach US$6.3 billion, and it is expected to reach US$8.3 billion by 2029, with a compound annual growth rate of 9.7% from 2023 to 2029.
According to the market demand and price of meta-aramid and para-aramid, it is preliminarily estimated that the market size of my country’s aramid fiber industry in 2023 will be about 5.963 billion CNY, of which the market size of meta-aramid is about 2.002 billion CNY and the market size of para-aramid is about 3.961 billion CNY. It is expected that by 2029, the market size of my country’s aramid fiber industry is expected to reach 13.8 billion CNY.
According to the “2024-2029 Aramid Industry Market In-depth Analysis and Development Planning Consulting Comprehensive Research Report” released by China Research Institute of Puhua Industry, it shows that:
The global aramid manufacturers mainly include DuPont of the United States, Teijin of Japan, Kolon of South Korea, and Taihe New Materials of China. Among them, DuPont of the United States is the world’s largest aramid manufacturer, with first-mover advantage and occupying a major share of the global market. From the perspective of the competitive echelon of Chinese aramid fiber industry enterprises, Taihe New Materials ranks in the first echelon of China’s aramid fiber industry with its large aramid fiber production capacity, rich product types and unique status as a listed company;
Future development trend and prospect forecast of the aramid industry market
Chinese aramid enterprises have made significant progress in technology research and development, capacity expansion and market development, and gradually narrowed the gap with international leading enterprises. In the future, with the acceleration of the process of domestic substitution, Chinese aramid enterprises will occupy a more important position in the global market. Governments of various countries will increase their support for high-tech materials such as aramid to promote the development of the aramid industry. At the same time, with the continuous progress of the global science and technology industry and the continuous expansion of downstream application fields, the aramid industry will usher in broader market opportunities and development space.
With the continuous advancement of science and technology and the expansion of downstream application fields, the application scope of aramid fiber will be further expanded. Especially in high-tech fields such as new energy vehicles, aerospace, national defense and military industry, aramid fiber will play an important role. The application of aramid fiber in tires, rubber, electrical insulation, safety protection and other fields will also continue to grow, promoting the rapid development of the aramid industry.