Aramid Fiber Market for Automotive Hoses Analysis, Size, and Share by 2028

The aramid fiber market for automotive hoses is projected to reach US$ 213.93 million by 2028 from US$ 127.41 million in 2021; it is expected to grow at a CAGR of 7.7% from 2021 to 2028.

Aramid fibers are high-performance synthetic fibers with molecules characterized by relatively stiff polymer chains. These molecules are linked together by strong hydrogen bonds that efficiently transmit mechanical stress. The term "aramid" means "aromatic polyamide." Aramid fibers appear bright golden yellow filaments. These fibers are used to reinforce tires, powertrain components, turbocharger hoses, brake pads, belts, gaskets, clutches, seat textiles, electronics, seat sensors, and hybrid motor materials.

The aramid fiber market for automotive hoses in Asia Pacific is expected to grow at the fastest CAGR during the forecast period. The regional market is projected to witness remarkable growth in the near future due to the rapidly expanding automotive industry, which propels the flourishment of the auto-parts manufacturing industry, especially in countries such as China, South Korea, and India. As the production of electric vehicles increases, so does the number of parts and components in the vehicle, which will further bolster the aramid fiber market for automotive hoses growth in the region.

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Aramid Fiber Market: Strategic Insights

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Impact of COVID-19 Pandemic on Aramid Fiber Market for Automotive Hoses

The COVID-19 pandemic significantly impacted the aramid fiber market for automotive hoses in 2020. During the pandemic, the automotive industries temporarily discontinued their production processes, leading to a decrease in demand for products made up of aramid fibers. In addition, the global automotive industry has witnessed a downfall recently. According to the OICA, ~77.62 thousand vehicles were produced globally in 2020, compared to 92.18 thousand vehicles in 2019, indicating a 15.8% drop in production. The drop can be attributed to a lower output in major automobile hubs such as the US, China, Japan, and Germany, which experienced a 19%, 2%, 17%, and 24% decline, respectively, in 2020, compared to 2019. However, the industry has started to gain momentum since the Q4 of 2020 and is expected to witness significant growth in the coming years owing to the rising demand for electric vehicles.

Market Insights

Rise in Demand from Automotive Industry Fuel Market Growth

Aramid fiber is a man-made polymer belonging to the class of strong synthetic and heat-resistant fibers. They provide good resistance to abrasion and organic solvents, and exhibit high melting point, low conductivity, and low flammability. There has been an increase in the use of aramid fibers in the automotive industry in applications such as tires, turbocharger hoses, powertrain components, belts, brake pads, gaskets, clutches, seat fabrics, electronics, seat sensors, and hybrid motor materials. These fibers are used to reinforce transmission, radiator, and turbocharger hoses. The hoses that are reinforced with aramid fibers are stronger and long-lasting and can withstand the toughest conditions.

Car or vehicle production involves a number of materials, such as iron, aluminum, plastic, steel, and glass. Aramid fibers are extensively used as a substitute for aluminum and steel due to their lightweight, high tensile strength, and superior corrosion resistance. Manufacturers in the automotive industry are continuously striving to introduce innovative products to stay competitive in the markets they serve. Safety aspects, excellent performance, and the need for sustainability, pressure the automotive industry to develop high-quality products. They need to ensure a fine performance of automotive hoses irrespective of increasingly difficult conditions. For example, under-hood hose systems must withstand increasingly harsh operating conditions; consequently, the hose reinforcing yarns must have superior strength, as well as chemical, thermal, and dimensional stability. Aramid fibers help improve the safety, performance, and durability of automotive components, including automotive hoses and automotive belts. In addition, they help extend product life, improve product performance, and so on.

Material Type Insights

Based on type, the aramid fiber market for automotive hoses is bifurcated into para-aramid fiber and meta aramid fiber. The para-aramid segment is register a higher CAGR in the market during 2021–2028. Para-aramids have high tensile strength (the highest stress that a material can withstand) and modulus behavior (the tendency of a material to deform when force is applied). Further, para-aramid fibers are stiffer and have greater tenacity as well as strength than meta-aramid fibers. However, they are chemically sensitive, and acids, alkalis, and bleaches weaken the strength of para-aramid polyamide. A few of the examples of para-aramid fibers are Kevlar, Technora, Twaron, and Herron. The demand for para-aramid fibers is driven by their increasing use in security and safety applications. They are used in critical applications such as protective clothing, including bulletproof vests, helmets, and vehicle armor, due to their ultrahigh strength, and rigid and highly-oriented molecular structure.

A few of the companies operating in the aramid fiber market for automotive hoses are Contitech Ag, Dupont, Teijin Limited, Yokohama Rubber Co., Ltd., Schaeffler Ag, Bando Chemical Industries Ltd., Hutchinson Sa, Toyobo Co. Ltd., Aramid Hpm, LLC, Fiberline, and Kolon Industries, Inc. The key companies implement the mergers and acquisitions, and research and development strategies to expand customer base and gain significant share in the global market, further allowing them to maintain their brand name globally.

Report Spotlights

• Progressive industry trends in the aramid fiber market for automotive hoses to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the aramid fiber market for automotive hoses from 2020 to 2028
• Estimation of global demand for aramid fiber for automotive hoses
• Porters analysis to illustrate the efficacy of buyers and suppliers operating in the industry
• Recent developments to understand the competitive market scenario
• Market trends and outlook, as well as factors driving and restraining the growth of the aramid fiber market for automotive hoses
• Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
• The size of the aramid fiber market for automotive hoses size at various nodes
• Detailed overview and segmentation of the market, as well as the aramid fiber for automotive hoses industry dynamics
• Size of the aramid fiber market for automotive hoses in various regions with promising growth opportunities

Aramid Fiber Market Regional Insights

The regional trends and factors influencing the Aramid Fiber Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Aramid Fiber Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Aramid Fiber Market Report Scope

Aramid Fiber Market Players Density: Understanding Its Impact on Business Dynamics

The Aramid Fiber Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Aramid Fiber Market for Automotive Hoses - by Type

• Para aramid fiber
• Meta Aramid Fiber

Company Profiles

• Contitech Ag
• Dupont
• Teijin Limited
• Yokohama Rubber Co., Ltd.
• Schaeffler Ag
• Bando Chemical Industries Ltd.
• Hutchinson Sa
• Toyobo Co. Ltd.
• Aramid Hpm, Llc
• Fiberline