According to a new market report published by Acute Market Reports “Aramid Paper Market - Growth, Future Prospects, Competitive Analysis, and Forecast 2021 - 2029,” the aramid paper market is expected to reach US$ 1074.8 Mn by 2029, expanding at a CAGR of 4.7% from 2021 to 2029.
Browse the full Aramid paper Market for Communication Equipment, Honeycomb Core and Electrical Insulation Application - Growth, Future Prospects, Competitive Analysis, and Forecast 2021 – 2029 report at https://www.acutemarketreports.com/report/aramid-paper-market
Market Insights
Aramid polyamides were introduced to the market in the early 1960’s. The first meta - aramid was produced by the company DuPont named HT-1 which then was known by the trade name Nomex. Aramid paper is also known as a high temperature resistant insulation product which has excellent chemical and physical properties. It is sometimes known as a calendered insulating paper that offers mechanical toughness, dielectric strength, resilience and flexibility.
Aramid paper is entirely made from synthetic meta-aramid polymers in two physical forms namely microscopic binder particles known as fibrids and short fibers which are known as floc. Fibrids and flocs are then formed into a sheet structure using a Foundrinier paper machine devoid of the usage of fillers, binders or sizers. The product formed is then calendered with high pressure and heat to densify it into to a bulk specific gravity ranging 0.7 to 1.2 which depend on the thickness of the aramid paper. Aramid paper is available in sheets and rolls of varying thickness and widths of 0.05 to 0.76 millimeters.
The advantageous properties of aramid paper have led to wide range of applications in the end-user industries. Based on applications, the global aramid paper market is segmented into communication equipment, honeycomb core and electrical insulation. Among these, electrical insulation accounted for major share of global aramid paper market in 2020 and is expected to increase in the near future. Growing demand from the electronic and electrical industries majorly from the Asia Pacific has led to high growth of global aramid paper market. Other applications such as communication equipment and honeycomb core are also expected to boost high demand for aramid paper during the forecast period from 2021 to 2029.
Competitive Insights:
Asia Pacific accounted for larger share of global aramid paper market in 2020 and is expected to retain its position during the forecast period. Growing demand for aramid paper from the electrical and electronic industry in the region has boosted high growth of aramid paper market in the region. Therefore, high demand is reported for aramid paper from Asia Pacific alone. Europe followed Asia Pacific in terms of demand for aramid paper in 2020 and is expected to increase its share in the near future. Increasing demand for aramid paper from wide range of end-user industries in the region has led to the growth of aramid paper in the region. Other regions such as North America, Latin America and Middle East and Africa are also projected to fuel high demand for aramid paper from growing end-user industries during the forecast period from 2021 to 2029.
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