Asia Pacific Aramid Fiber Market

Market Introduction

The Asia Pacific aramid fiber market for automotive hoses is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. Electric vehicles require different kinds of hoses and fluid transmission assemblies than traditional internal combustion engine vehicles. Large battery electric vehicles generate a lot of heat, and many manufacturers use composite tubes to enclose the batteries and prevent their heat management. Electric vehicles tubes are typically much longer and narrower than traditional automotive tubes and electric vehicles also require many of the same hoses, pipe fittings, and assemblies as traditional vehicles, such as the air conditioning and brake lines. They also require special considerations to ensure appropriate performance in the operation of an electric vehicle. For instance, air conditioning hose assemblies can also be used in electric vehicles to carry refrigerant and lubricant between the components of the electric vehicle. These systems typically utilize both a pressure and return line. Further, increasing adoption of aramid fiber in electric vehicles, owing to several requirements by the automotive companies, such as replacing conventional substrates materials with synthetic substrates and increasing focus on environmental concerns. Aramid fibers are known for their temperature resistance, strength, reinforcement, and other properties that can help improve filters, belts, gaskets, and other automotive components. Thus, the rising adoption of electric vehicles is expected to provide lucrative opportunities for automotive hoses manufacturers in the market.

The COVID-19 outbreak created significant resistance to the automotive parts market in 2020, as trade restrictions disrupted the supply chain, and government blockades across the region reduced consumption of aramid fibers However, growing regional demand, government incentives, and easy raw materials availability are expected to drive the market growth over the forecast period. For example, India's Automotive Mission Plan FAME II emphasizes government support to the growing Indian automotive and parts manufacturing industry. In recent years, the automobile parts and accessories industry has undergone significant changes. The development of the auto parts manufacturing industry in Asia Pacific is driven primarily by the growing automotive industry, especially in China, South Korea, and India. The growing production of electric vehicles propels the demand for theirs parts and components, which would fuel the aramid fiber market for automotive hoses in the region during the forecast period.

Asia Pacific Aramid Fiber Strategic Insights

Strategic insights for the Asia Pacific Aramid Fiber provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia Pacific Aramid Fiber Report Scope

Asia Pacific Aramid Fiber Regional Insights

The geographic scope of the Asia Pacific Aramid Fiber refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The aramid fiber market for automotive hoses in Asia Pacific is expected to grow from US$ 72,082.42 thousand in 2021 to US$ 1,23,156.97 thousand by 2028; it is estimated to grow at a CAGR of 8.0% from 2021 to 2028. The automotive industry uses a different type of materials such as iron, aluminum, plastic, steel, and glass to build cars and other vehicles. Aramid fibers are extensively used as a substitute for fiber glass and steel due to their lightweight, high tensile strength, and superior corrosion resistance in automotive hoses manufacturing. Manufacturers in the automotive industry are constantly looking to stay competitive by bringing innovative products to market. Safety aspects, excellent performance, and the need for sustainability, pressure the automotive industry to develop high-quality products. Today, automotive hoses have to perform well despite increasingly difficult conditions. For example, under-hood hose systems must withstand increasingly harsh operating conditions. Manufacturers are continuously innovating their products. For instance, Dupont provides knitted or braided Kevlar fiber for automobile hoses, which is used to reinforce radiator, gearbox, and turbocharger hoses to make them stronger and lighter. This is because Kevlar is not only stronger than other materials commonly used in high-pressure hoses, but it also has outstanding thermal stability and chemical resistance. In addition, Teijinconex offers meta-aramid for the extremely high-temperature circumstances on the hot side of the turbocharger for conveying high-temperature gases or fluids or supporting a high-pressure transmission system. Thus, the rising demand from the automotive industry is driving the aramid fiber market for automotive hoses

Key Market Segments

Based on type, the para-aramid fiber segment accounted for the largest share of the Asia Pacific aramid fiber market for automotive hoses in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the Asia Pacific aramid fiber market for automotive hoses are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include DuPont de Nemours, Inc.; Teijin Limited; Continental AG; Kolon Industries Inc.; YOKOHAMA RUBBER CO., LTD.; Beaver Manufacturing Company; Artel Rubber Company; Gates Corporation; Norres and Huvis Corp.

Reasons to buy report

• To understand the Asia Pacific aramid fiber market for automotive hoses landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Asia Pacific aramid fiber market for automotive hoses
• Efficiently plan M&A and partnership deals in Asia Pacific aramid fiber market for automotive hoses by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Asia Pacific aramid fiber market for automotive hoses
• Obtain market revenue forecast for market by various segments from 2019-2028 in Asia Pacific region.

Asia Pacific Aramid Fiber Market for Automotive Hoses Segmentation

• Para-Aramid Fiber
• Meta Aramid Fiber

Asia Pacific Aramid Fiber Market for Automotive Hoses – By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of Asia Pacific

Asia Pacific Aramid Fiber Market for Automotive Hoses – Company Profiles

• DuPont de Nemours, Inc.
• Teijin Limited
• Continental AG
• Kolon Industries Inc.
• YOKOHAMA RUBBER CO., LTD.
• Beaver Manufacturing Company
• Artel Rubber Company
• Gates Corporation
• Norres
• Huvis Corp.