Aramid Fiber Market Size

Aramid Fiber Market size was valued at USD 4.56 billion in 2024 and is expected to cross USD 10.15 billion by the end of 2037, expanding at more than 6.5% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of aramid fiber is estimated at USD 4.79 billion.

The major element driving the market expansion is the growth in demand for lightweight vehicles such as electric vehicle or hybrid vehicles. For instance, the total number of EVs sold globally at the end of 2021 was about 17 million, an upsurge of approximately 57% from the end of 2020. About 94 percent of these cars were LDVs, while only approximately 4% were HDVs. Aramid fiber has high resistivity to great temperatures hence it is the most suitable fiber being used in electric vehicles. Additionally, since they are lightweight their demand is growing in electric vehicles.

Moreover, government all over the world are initiating various policies in order to influence the growth of the electric vehicles. This could be owing to rising emission levels from the automotive. Hence, this could be another major factor to boost the market demand.