29th Aug 2019: Para-aramid fibers are used to make blast proof vests as they are designed for protecting against low and high velocity ammunition. Yarns made from para-aramid fibers have superior resistance to ballistic impact due to elasticity and elongation properties. Para-aramid fibers market is likely to witness growth due to its superior properties such as resistance to heat and protection from ballistic impact.
They are used for various applications while manufacturing aircrafts and Lorries. Increasing demand for security and protective measures in defense forces and construction industries is likely to boost product demand in the future.
Military and Defense Industry benefits from product development
Security and protection was the largest segment in 2017 and is expected to reach a valuation of USD 1.4 billion by 2025. Para-aramid fibers based products have registered high demand in security and protection application due to growing concerns over personnel protection in military and industrial sectors.
For instance, in May 2018, Researchers from Development and Engineering Center, in Massachusetts displayed their combat helmets that were lightweight and designed to provide more protection even at reduced weight.
Para-aramid fibers are also used in aerospace components, including fairings, primary wing, fuselage, landing gear doors, leading and trailing edge panels on the wings, flight control surfaces, and vertical and horizontal stabilizers.
Market Insights
Major factors responsible for driving the demand of the market are security and protection applications, drilling activities, and oil and gas industry. These industries are expected to witness high demand for headgear, eye protection equipment, and safety harnesses.
In U.S. large penalties are levied for non-compliance of safety regulations incorporated for workers by government with set standards. These stringent laws and regulations have contributed to driving the demand for the product in the market. Increasing offshore and onshore drilling activities along with shale oil and gas industry are expected to drive product demand over the forecast period.
Leading companies are inclined to develop low-cost and technologically advanced products giving them an ample of opportunity and scope for providing safer solutions. There are products available in the market that have substitutes like carbon and glass fibers, which is likely to pose a challenge to the growth of the market.
Companies have been making direct agreements with distributors and third-party suppliers for acquiring the product through retailers and wholesalers.. E. I. du Pont de Nemours Company and Teijin Ltd. are major product manufacturers and suppliers in the para-aramid fibers market. Companies adopt forward integration operational strategy to increase their control over suppliers and distributors thereby increasing their market power and position.
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