North America Para-aramid Fibers Market Size & Outlook
North America para-aramid fibers market, 2018-2030 (US$M)
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North America para-aramid fibers market highlights
- The North America para-aramid fibers market generated a revenue of USD 950.0 million in 2023.
- The market is expected to grow at a CAGR of 8.8% 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, U.S. is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 950.0 million |
| Market revenue in 2030 | USD 1,719.7 million |
| Growth rate | 8.8% (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, North America region accounted for 29.6% 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 38.07% in 2023. Horizon Databook has segmented the North America 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.
Stringent regulations laid down by various regulatory bodies such as HSE, ANSI, and state bodies pertaining to the security and protection measures of workers in various industries are driving the market growth since past few years.
This is likely to be a major factor for the growth of North America para-aramid fiber market over the forecast period. American National Standards Institute (ANSI) in the U.S. has laid down protection standards for a broad range of personnel protective equipment, such as protective gloves, to ensure the protection of personnel at the workplace in various industries.
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Para-aramid Fibers Market Scope
Para-aramid Fibers Market Companies
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North America para-aramid fibers market size, by country, 2018-2030 (US$M)
North America Para-aramid Fibers Market Outlook Share, 2023 & 2030 (US$M)
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