Flame Resistant Fabrics Market to touch Valuation of US$6.56 Bn by 2024, Development of New Materials to open Exciting Frontiers in End-use Industries - TMR
The global flame resistant fabrics market is likely to register significant growth due to presence of large number of players in the global market. The major players functioning in the global flame resistant fabric market include Milliken & Company, TenCate, E. I. du Pont de Nemours and Company, PBI Performance Products, and Huntsman Corporation. The global flame resistant fabrics demonstrates competitive structure due to presence of prominent players in the region. The key payers are focused towards mergers and acquisitions in order to strengthen their presence and maintain global outreach. The global flame resistant fabric market demonstrates competitive structure owing to presence of large and small players in the region.
North America to Dominate Global Flame Resistant Fabric Market Owing to Stringent Government Regulation
According to a report published by TMR, the revenue generated by the global flame resistant fabric market is likely to stand at US$3.1 bn in 2013 end and the market is likely touch valuation of US$4.8 bn by the end of 2020. The global flame resistant fabric market is expected to register a healthy CAGR of 6.8% during the course of forecast period from 2016 to 2024.
Based on application, industrial protective clothing is likely to lead global flame resistant fabric market. The industrial protective clothing helps in creating barrier between the fire and skin and thus further helps in providing protection against direct exposure to flame. The industrial protective clothing has witness massive demand owing to growing demand across various end-user industries. From geographical point of view, North America is likely to remain dominant and likely to remain one of the promising region in terms of demand and stringent regulation for the staff.
The increasing application of flame resistance fabrics in firefighting service, home furnishing and corporates, transport industry and industrial protective clothing. These are some of the factor propelling demand for the global flame resistant fabric market. The increasing demand of the flame resistant fabric in defense sector is stimulating demand for global flame resistant fabric market in the coming years. The growing demand for flame resistant fabric from high risk industries and stringent government regulation pertaining to operation is expected to drive growth of the global flame resistant fabrics market.
The flame resistant fabric is supported by multinational companies which is trying to produce quality product at affordable price and these are some of the factors fueling demand for the global market. The rising demand from transport industries is expected to influence demand for the global flame resistant fabrics market
Lack of Safety Awareness among Workers to Limit Growth of the Global Flame Resistant Market
On the other hand, the lack of awareness about the safety of workers especially in Asia Pacific region is likely to hamper overall growth of the global flame resistant fabrics market. However, increasing demand for safety of employees in various industrial sector and increasing companies’ initiative to produce affordable and quality resistant fabric are some of the factor triggering growth of the global flame resistant fabrics market.
Growing Applications to have Positive Impact on Market
The global flame resistant fabrics market manufacturers the materials which inalienably have properties which are flame resistant or are treated with a flame resistant substance, are widely used to fabricate pieces of clothing, decorations, and array for applications over various ventures, including cordiality, military, social insurance, and oil and gas. Mixes of treated and inalienably fire protection filaments textures are additionally regularly used to fabricate fire safe items for use over these and different enterprises.
In the previous couple of years, an immense ascent popular for flame resistant apparel for use in the guard business and a few different enterprises with consistent danger of flame flare-ups has been seen over the globe. Consequently, flame resistant apparels and the global flame resistant fabrics market delivering and highlighting fire safe textures makes for a commercial center with huge development openings, particularly as government directions in regards to representative security in high-chance ventures and operations turn out to be progressively stringent.
Slowdown in Demand for Industrial Clothing to Inhibit Market Growth
Industrial protective makes an inactive and stable obstruction between the skin and fire, allowing the wearer powerful assurance against guide introduction to blazes or over the top temperatures. While industrial protective clothing has seen broad ascent sought after crosswise over key end-utilize businesses, its demand bend steepened in 2015 attributable to a huge log jam in the oil and gas industry. By and by, applications over the vehicle business helped the global flame resistant fabrics market accomplish stable development and reasonable returns.
The information presented in this review is based on a TMR report, Title “Flame Resistant Fabrics Market (Application - Industrial Protective Clothing, Law Enforcement & Firefighting Services, Transport) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
The report segments the global flame resistant fabrics market as follows:
Global Flame Resistant Fabrics Market: Application
- Industrial protective clothing
- Law enforcement and firefighting services
- home furnishings,
Global Flame Resistant Fabrics Market: Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)
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