According to a new market report published by Lucintel, the future of the global aramid fiber market looks bright, with opportunities in the aerospace, automotive, protective clothing, electronics and telecommunication. The global aramid fiber market is expected to reach an estimated $3.8 billion by 2021 and it is forecast to grow at a CAGR of 6.2% from 2016 to 2021. The major drivers of growth for this market are increasing usage of aramid fiber in brake pads, clutches, gaskets, linings, and tires in automotive and the growing demand for protective clothing from defense and industrial sectors.