Europe Para-aramid Fibers Market Size & Outlook, 2023-2030
Europe para-aramid fibers market, 2018-2030 (US$M)
Related Markets
Europe para-aramid fibers market highlights
- The Europe para-aramid fibers market generated a revenue of USD 1,115.7 million in 2023.
- The market is expected to grow at a CAGR of 6.6% from 2024 to 2030.
- In terms of segment, security & protection was the largest revenue generating application in 2023.
- Security & Protection is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Germany is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 1,115.7 million |
| Market revenue in 2030 | USD 1,742.4 million |
| Growth rate | 6.6% (CAGR from 2023 to 2030) |
| Largest segment | Security & protection |
| Fastest growing segment | Security & Protection |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Security & Protection, Optical Fibers, Friction Material, Rubber Reinforcement, Tire Reinforcement |
| Key market players worldwide | Teijin Ltd, Yantai Tayho Advanced Materials, DuPont de Nemours Inc, Hyosung Corporation, Toray Industries Inc, Kermel, Kolon Industries, Huvis, China National Bluestar Group |
Other key industry trends
- In terms of revenue, Europe region accounted for 34.7% of the global para-aramid fibers market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 1,719.7 million by 2030.
Security & protection was the largest segment with a revenue share of 37.99% in 2023. Horizon Databook has segmented the Europe para-aramid fibers market based on security & protection, optical fibers, friction material, rubber reinforcement, tire reinforcement covering the revenue growth of each sub-segment from 2018 to 2030.
Europe was the largest market for para-aramid fibers owing to the increasing demand from various application sectors such as security & protection, optical fibers, electrical insulation, rubber reinforcement, and tire reinforcement.
Robust growth in these application products is expected to fuel the demand for para-aramid fibers over the forecast period. The demand for high bandwidth fiber optic cables for data services and communication is anticipated to influence the para-aramid fiber market positively in optical fibers segment over the forecast period.
In addition, European countries are among the world’s biggest manufacturers of automotive. Tire market is largely dependent on automotive sector, which has direct influence on para-aramid fibers. Para-aramid fibers are extensively used in tire reinforcement for higher performance, increasing safety, higher comfort, less fuel consumption, and improved protection of tires.
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Para-aramid Fibers Market Scope
Para-aramid Fibers Market Companies
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Europe para-aramid fibers market size, by country, 2018-2030 (US$M)
Europe Para-aramid Fibers Market Outlook Share, 2023 & 2030 (US$M)
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