ALBANY, New York, October 19, 2015 /PRNewswire/ --
With tightening government regulations and policies increasingly being framed to improve industrial worker safety, the market for flame resistant markets will receive a forward push. The global flame resistant fabrics market is poised for a healthy CAGR of 6.7% in revenue terms between 2014 and 2020, says Transparency Market Research in its latest report. The market for flame resistant fabrics is expected to go from US$3.12 billion in 2013 to US$4.87 billion by 2020. The findings are discussed in detail in TMR's report, titled 'Flame Resistant Fabrics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014-2020.' In terms of volume, the demand for flame resistant fabrics globally was estimated to be 298.2 million square meters.
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The two key drivers that are enabling the growth and expansion of the global flame resistant fabrics market are: a rising demand for such fabric from industrial facilities (especially the oil and gas industry) and a bevy of regulations being implemented worldwide to ensure safe working conditions in industrial facilities. While these drivers will enable the market to log a healthy growth rate, companies in the flame resistant fabrics market will need to find ways to bring down product prices so as to compete better with other conventional materials. Moreover, several growth markets in Asia Pacific still suffer from a lack of enough awareness pertaining to worker safety. This will likely slow down the adoption of flame resistant fabrics in these markets. The impact of these restraints could be alleviated to some degree by focusing on emerging countries, where the demand for protective clothing is steadily rising.
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For the purpose of this study, the global flame resistant fabrics market has been segmented on the basis of application and region. Segmented thus, the applications studied are: Industrial protective clothing, transport, law enforcement and firefighting services, and others. Of these, industrial protective clothing accounted for over 50% of the cumulative demand for flame resistant fabrics globally.
The report studies the flame resistant fabrics market in the following regions: Europe, North America, Asia Pacific, and Rest of the World (RoW). Europe was the largest flame resistant fabrics market as of 2013, accounting for 35% of the global demand for flame resistant fabrics. Asia Pacific-thanks to the massive demand for industrial protective clothing here-was the second-highest consumer of flame resistant fabrics in the same year, and was trailed by North America. While industries in Asia Pacific will continue to create high demand for flame resistant fabrics, the North America flame resistant fabrics market is expected to register a CAGR of more than 5% through the report's forecast period.
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Developing proprietary technologies is seen to be a widely adopted competition strategy in the global flame resistant fabrics market. Companies that have managed to do this have consequently risen to the top of the market. Some of the leading companies in the global flame resistant fabrics market are E. I. du Pont de Nemours and Company, Lenzing AG, Milliken & Company, Indura, Teijin Aramid and TenCate, Huntsman Corporation, and others. A number of small companies have also ventured forth into the global flame resistant fabrics market creating an unorganized market for these products, especially in the Asia Pacific region.
Browse Other Research Reports:
Flame Resistant Fabrics Market - Application Analysis
- Industrial protective clothing
- Law enforcement and firefighting services
- Others (Including home furnishings, etc.)
Flame Resistant Fabrics Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)
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