Aramid Fiber

Aramid fibers - Firefighter's Jacket

What do bulletproof vests, firefighters’ jackets and electrical insulation have in common? They are all made with aramid fiber. Aramid fiber is so named because it is made up of aromatic polyamides. There are two types: meta-aramid fiber and para-aramid fiber. 

Meta-aramid fiber was invented in the 1960s by DuPont. The fiber is similar to normal textile fiber but is heat and flame resistant. It is also resistant to abrasion and organic solvents. Some uses for meta-aramid fiber are protective clothing for firefighters, military personnel and auto racers; electrical insulation; and as a substitute for asbestos in friction and sealing products. Three brands are Nomex, New Star, and Teijinconex.

Para-aramid fiber was developed in the 1960s and 1970s by DuPont and Akzo Nobel. This fiber is lightweight, stiff, and has greater strength than meta-aramid fiber. However, it degrades when exposed to alkalies, acids, and bleaches. Some uses for para-aramid fiber include bulletproof body armor, helicopter rotor blades, and wing assemblies. Fibracell woodwind reeds are also made using para-aramid fiber. Kevlar and Twaron are two brands.

Today’s market size shows worldwide aramid fiber revenues for 2019 and projected for 2027. Para-aramid fiber claimed 75.6% of revenues in 2019. Revenues for this segment of the market are expected to grow at a compounded annual growth rate of 8.1% from 2020 to 2027. The growing need for security and protection in the military and in the mining, healthcare, oil and gas, and building construction industries is expected to fuel growth for aramid fiber over this time period. In 2019, security and protection applications claimed the highest market share, followed by frictional materials, optical fibers, and rubber reinforcement. Together these applications constituted more than three-quarters of the market. Besides DuPont de Nemours Inc. and Akzo Nobel N.V., some companies that produce aramid fiber include Teijin Aramid, Toray Industries Inc., Yantai Tayho Advanced Materials Co. Ltd., SBO Group Ltd., and Kermel Inc.

Geographic reference: World
Year: 2019 and 2027
Market size: $3.6 billion and $6.8 billion, respectively
Sources: “Aramid Fiber Market Size, Share & Trends Analysis Report by Product, by Application (Security & Protection, Tire Reinforcement, Optical Fibers, Rubber Reinforcement, Aerospace), by Region, and Segment Forecasts, 2020 – 2027,” Grand View Research Report Summary, February 2020 available online here; “Aramid Fiber Market Size Worth $6.8 Billion by 2027 | CAGR: 8.2%: Grand View Research, Inc.,” CISION PR Newswire, February 20, 2020 available online here; “Aramid,” Wikipedia, January 5, 2020 available online here; “Aramid Fiber,” Conservation and Art Materials Encyclopedia Online, November 26, 2019 available online here; “The Great Reed Debate,” The Polydelphia Conservatory available online here.
Image source: ciobanucatalina, “firefighter-fireman-fire-4011614,” Pixabay, February 21, 2019 available online here.

Apparel Consumption

Clothes, we all wear them and yet for the apparel industry what matters is fashion. It is through changing fashions that people are most often lured into buying more clothes than are strictly necessary. For many, of course, clothes buying is an entertainment.

Per capita spending on apparel in the United States peaked for the first decade of the new century in 2005 and then fell, gaining downward momentum with the onset of the recession and the financial crisis that followed. Complicating the downward spiral is the fact that apparel companies were caught somewhat off guard by the sharp decline in spending which led to excess inventories. As these were liquidated, overall apparel prices declined.

Today’s market size is a measure of the apparel industry based on per capita spending in the United States.

Geographic reference: United States
Year: 2005 and 2010
Market size: Annual, per capita spending of $1,276 and $1,136 respectively
Source: “Table 3. Age of Reference Person: Average Annual Expenditures and Characteristics,” Consumer Expenditure Survey, 2005 and 2010, U.S. Bureau of Labor Statistics, available here
Original source: U.S. Labor Department
Posted on March 21, 2012

Bio-Based Manufacturing

In 2011, U.S. Senator Debbie Stabenow, Chairwoman of the Senate Committee on Agriculture, Nutrition, and Forestry introduced her “Grow It Here, Make It Here” initiative to spur growth in the emerging bio-based manufacturing industry. The initiative would provide a 30% tax cut for new, expanded, or re-equipped bio-manufacturing projects. Bio-based manufacturing uses agricultural goods, such as soy and wheat, to make value-added products, such as car parts, cleaning products, and plastics. This is not a new concept. Henry Ford used Michigan-grown soy and other agricultural products in his automobiles. In recent years, more and more automakers are using parts made from agricultural products. An example: the seats of the new Ford Focus and the Chevy Volt are made of Michigan-grown soy material.

Currently, bio-based products represent 4% of the plastic and chemical industry market. According to the U.S. Department of Agriculture, the potential market for bio-based plastic and chemicals could reach 20% by 2025 with federal policy support. Some studies show that if that 20% is reached, it would create more than 100,000 American jobs. This does, however, assume that agricultural production is able to keep up with strongly increasing demand and do so while maintaining competitive prices. Today’s market size is the estimated, current value of the bio-based economy in the United States.

Geographic reference: United States
Year: 2011
Market Size: $1.25 trillion
Source: “Stabenow Announces ‘Grow It Here, Make It Here’ Initiative to Advance Emerging Michigan Industry in Zeeland,” October 24, 2011, available online here.
Posted on November 4, 2011

Pollinators

An often heard or read phrase related to agricultural production goes as follows: You can thank pollinators for one out of three bites of food you eat. Of course, that assumes you have a nutritionally balanced diet. But the point is clear. One-third of crops used to produce food for human consumption come from plants that depend on pollination to reproduce. In the United States it is estimated that the value annually of crops that are pollinated by insects is $40 billion and this figure does not include the value of non-food crops that also depend upon pollinators, like cotton, for example. The market size figure presented below is an estimated value to the world every year of pollination done by insects and animals.

For anyone not familiar with pollination, it is the process by which pollen is moved from one place on a flowering plant to another. Pollen grains contain the male contribution to the fertilization process and are moved through pollination to the female parts of the plant so that offspring may be produced. Without pollination, a flowering plant will not bear fruit or seeds. Insects and some animals serve as transporters in this process, as does the wind for some plants.

Geographic reference: World
Year: 2010
Market size: $200 billion
Source: “Gold Dusters,” National Geographic, March 2011, page 121.
Original source: United Nations, Food & Agriculture Organization (FAO). Another source of interesting information about pollination and crops is available here from the National Biological Information Infrastructure, a program administered by the U.S. Geological Survey.

Noncellulosic Organic Fiber Market

This industry consists of establishments primarily engaged in the manufacture and texturizing of noncellulosic fibers and filaments in the form of monofilament, filament yarn, and staples. These noncellulosic materials include nylon, polyolefin and polyester.

Geographic reference: United States
Year: 2008
Market size: $6.56 billion
Source: Annual Survey of Manufactures, 2008, March 30, 2010 available online here.
Original source: U.S. Bureau of the Census

Retail Arts & Crafts Supplies Market

This market is very decentralized, the top three retailers accounting for only 16% of the market. Those leading retailers are Michaels Stores, Jo-Ann Fabrics, and A.C. Moore.

Geographic reference: United States
Year: 2008
Market size: $31 billion
Source: “Deutsche Bank High Yield & Leveraged Finance Conference,” October 1, 2009
Original source: CHA, equity research and public filings

Chinese Nylon Market

Over the last decade China has become the world leader in the production of fabrics that are used to make garments.

Geographic reference: China
Year: 2006
Market size: 825,000 tons
Source: “Spinning a Nylon Empire; Initiate with a Buy,” May 22, 2008
Original source: Deutche Bank