14 April, 2016

Global Para-aramid Fiber Industry Banks on Recent Upswing in the Automotive Industry

Demand for para – aramid fibers have grown tremendously over the past five to six years. Popular for its capabilities like strength, resistance to certain impacts and tensile module these fibers now have greater applications. Their use in reinforcement materials especially for automobile rubber components has kept the future of the industry strong. Research analysts at Prof Research Report evaluating the growth rate, demands, supply, drivers, trends and opportunities of Global and Chinese Para-aramid Fiber Industry reveal that there in an increasing demand for these fiber in civil engineering for cables, protective clothing as well as ropes.

The sales and operating revenue were low in the fiscal year 2008. Industry experts hold the sudden decline in the volume of production as well as shipments responsible for such downfall. The situation started changing fiscal 2009 as sales began reviving in the second half. Their application especially in the automotive – associated materials, as manufacturing in the automotive sector turned the corner increased the prospects of the sector. Slowly the need for meta – aramid fibers also started picking pace. On the other hand, their use particularly in the production of industrial materials as well as steel production also increased its adoption rate across different countries.

Companies specializing in aramid – fiber are seen facing challenges but have definitely found a smarter way to respond. The need for these fibers mainly for automotive application has been on the rise since the first half of 2010 and industry leaders expect to stay firm throughout 2016. At present, organizations are seen responding to the requirements by promoting and introducing new products and uses, encouraging demands and exploring new demographics. Today, companies are focusing more on lowering the both the price and inventories. Over the years, companies are endeavoring to make sure their growth continuous and that they remain competitive by generously investing in research and development. Business leaders are also seen strengthening their relationships with their customers.

The remarkable performance capabilities of these fibers are expected to back the rise in demand especially for the safety as well as environment -related uses. The fact that environment related uses call for material that can lower the weight and reduce resource and energy consumption has helped in the growth of this sector. Moreover, the global demand for para-aramid fiber is likely to increase over 7 percent in the coming five to six years. Thus, to capitalize on the growth, many companies are working towards cultivating new uses.

Eyeing the recent developments in the sector, Prof Research Report has added a report titled “Market Research Report on Global and Chinese Para-aramid Fiber Industry, 2009-2019.” The study assesses the critical business imperatives such as growth rate, share and size and trends shaping the future of the market. Research analysts preparing the report also ensure that important points including the technology developments, industry chain structure, upstream raw materials and downstream customers market are thoroughly evaluated during the research. To conclude, business owners planning to redesigning their business strategies and exploring new markets would find the study worth their time and investment.

About Prof Research Reports:
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